Plantronics, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2012; Provides Earnings Guidance for the Fourth Quarter of Fiscal 2013; Declares Quarterly Dividend, Payable on March 11, 2013
For the nine months, the company reported net income of $77,693,000 or $1.82 per diluted share on net revenues of $558,047,000 compared to net income of $109,036,000 or $2.41 per diluted share on net revenues of $713,368,000 for the same period a year ago. Operating income was $101,219,000 compared to $141,353,000 a year ago. Income before income taxes was $101,683,000 compared to $142,602,000 a year ago. On non-GAAP basis, operating income was $118,527,000 compared to $159,163,000 a year ago. Income before income taxes was $118,991,000 compared to $160,412,000 last year. Net revenues were $558,047,000 compared to $713,368,000 last year. Non-GAAP net income was $87,795,000 or $2.06 per diluted share compared to net income of $119,752,000 or $2.65 per diluted share a year ago. Free cash flow was $63,876,000 compared to $121,308,000 last year.
Subject to the foregoing, the company currently expects the following range of financial results for the fourth quarter of fiscal 2013: Net revenues of $190 million to $195 million; GAAP operating income of $33 million to $35 million; Non-GAAP operating income of $39 million to $41 million, excluding the impact of $6 million from stock-based compensation, accelerated depreciation, and restructuring costs from GAAP operating income; Assuming approximately 42.7 million diluted average weighted shares outstanding: GAAP diluted EPS of $0.63 to $0.67; Non-GAAP diluted EPS of $0.68 to $0.72.
The company also announced that the company Board of Directors declared a quarterly dividend of $0.10 per share. The dividend will be payable on March 11, 2013 to stockholders of record at the close of business on February 20, 2013.