Information Technology at Plantronics

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Public




Tom Gill, VP and CIO



Information Technology at
Plantronics



May 13,
2010

‹#›

Agenda


Company Overview


Unified Communications Opportunity and
Solutions


Bluetooth Headsets


Financials


IT Makes it Happen

‹#›


Brand Promise: Sound, Style, Simplicity

Product quality and breadth

Track record of growth and profitability

Plantronics is the Headset Market Leader

Leader in Office, Contact Center,
Bluetooth

No debt, approximately
$7.67
cash per share

Cash flow positive for over 14 years


‹#›

Broad Blue
-
Chip Customer Base

100% of Fortune 100 companies use Plantronics

‹#›

Business Highlights (December Quarter)


Corporate


Revenue, operating income and EPS above guidance


Long
-
term target gross & operating margins achieved


Demand improved in all geographies

»
Strong rebound in EMEA: +34% from Q2FY10


Sale of Altec Lansing (AEG) effective December 1, 2009



Office & Contact Center: long
-
term prospects remain strong


Office & Contact Center (OCC) demand improved


Unified Communications (UC) opportunity continues to be validated



Bluetooth


Profitable: improved cost structure, seasonal strength & mix


Improving demand (hands
-
free laws)


Market share gains: Voyager Pro & Discovery 975


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$M

Corporate Revenue, Continuing Operations

PLT Has Adapted Well to Market Shifts for Decades




Every Market Shift Increased Our Addressable Market

(March Fiscal)

Wireless

Contact Center

Office Corded

TelCo

UC

CS70

Supraplus

Supra

M10

Duoset

EncorePro

DA60

Savi

Office

IP40

Voyager

510s

CS50

Incremental Market Opportunities

‹#›

$0
$100
$200
$300
$400
$500
$600
FY97
FY98
FY99
FY00
FY01
FY02
FY03
FY04
FY05
FY06
FY07
FY08
FY09
FY10
-
11.3% CAGR

Office & Contact Center Revenue

14.5% CAGR

17% CAGR

10% CAGR

7.4% CAGR

$M

?

Public

Unified Communications (UC)



$350M in incremental revenue expected by FY15



Doubles addressable office headset opportunity

‹#›

PC and Telephony
Presence

Voice, Video, IM & Presence is Key to all Unified Communications Solutions

UC is About a Different Way of Working

‹#›

Cost Savings is the Biggest Driver for UC Adoption


UC solutions integrate multiple enterprise communication methods onto one platform


UC adds functionality to existing communication technology investments

Source: Plantronics UC Study Nov/Dec 2009

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UC ROI & Payback is Validated

Key Savings**


20% reduction in conference calling costs


Reduced travel costs

Organization


$9.6M annual savings:


Carrier, Travel, PBX


IRR: 90%, 10 Mo. Payback


Travel costs reduced 20%


Enhanced learning


Long
-
distance savings of $33K annually

*Aberdeen Group 2009, **MSFT UC Case Studies

80% of Companies Expect Payback of Less than 1 Year*

‹#›

The Impact of the Audio Endpoint

Public

Plantronics UC Solutions


All Devices: Wireless, Corded, Telephones, Speakerphones


Strong Pipeline

‹#›

UC Portfolio Spring 2010

Blackwire 600

Blackwire 200

Blackwire 400

Savi 400

Savi Office WO

Calisto 500

Calisto 200

Voyager PRO UC

Calisto 400

New

Refresh

‹#›

Compatibility with Major Vendors

Softphone Integration and Support

Optimized UC products
provide plug and play
call control with OCS

Plug in provides call
control with UC products
and Sametime

Call Control with UC
products and leading
softphones

‹#›

PLT is the Preferred Choice of Leading IT Departments


PLT Mission: Make the Headset an Indispensable Business Tool


Compatible with all UC voice platforms and PBX’s

All solutions: headsets
(DECT,
Bluetooth
, Corded)
, handsets, USB speakerphones

Help desk support

Global distribution

Intelligent software interface

Portfolio strategy

Plantronics legacy




‹#›

Higher Investment = Strong UC Product Pipeline

Intelligence

User State Information

Ease of Use

Cross
-
System Integration

Control

Unified Call Management

Quality

Audio Clarity & Reliability

‹#›

Source: Frost & Sullivan November, 2008

UC Voice Seats Are Driving Headsets Sales

UC Voice Seats Deployed

(cumulative)

Millions

MSFT Expects 50% Headset Attach Rate for Voice Seats

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$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
CY 2008
CY 2014E
Other UC Comm. Devices
UC Headsets
Office/UC Overlap
Office Headsets
PLT Est. $350M Incremental Revenue by FY15

Unified Communications Doubles PLT Addressable Office Market

WW Office Headset
Market

WW Office Headset & UC Device
Market

$M

UC Device

Growth rates vary with economy, consumer adoption rates, competition and resulting price levels, and other factors

Sources: Frost & Sullivan, Nemertes, Gartner, IDC, IDG, Strategy Analytics, NPD Intellect, GFK, Carnegie Research, Company e
sti
mates

Public

Bluetooth Headsets


Market leading position


Profitable

‹#›

Highest Rated
Bluetooth

Headsets

Dual Microphones, AudioIQ
2

& Windsmart Technology

Discovery 975

Voyager Pro

‹#›

Bluetooth

Retail: #1 in Revenue

Source: The NPD Group/Retail Tracking Service

% of Retail $ Share (US)

Note: The NPD Group revised historical data in their Sept. 2008 report to account for adding and/or removing channel partner
s o
r updates to their methodology, resulting in new historical rankings.

Public

Financials


Achieved long
-
term margin target model

‹#›




Revenue: $165.9M, +9% YOY, exceeded guidance of $155M
-

$160M



Gross Margin: 48.9% vs. 40.1% in prior year



Operating Expenses: $49.2M vs. $52.2M in prior year:
-
6%



Operating Income: $31.8M vs. $9.0M in prior year


Operating Margin 19.2% vs. 5.9% in prior year



Earnings per share: $0.50 vs. $0.14 in prior year



Cash Flow from Operations $36.3M vs. $5.4M in prior year



Cash, Equivalents & ST Investments: $316.5M or ~$6.40 per share





Q3 FY10 Financial Highlights

(Non
-
GAAP, Continuing Operations)

‹#›

Q3
FY09

Q2
FY10

Q3
FY10

Q2
-
Q3 %
Change

YoY %
Change

YoY $
Change

OCC

$101.7

$93.5

$103.1

10.3%

1.4%

$1.4

Mobile

$36.0

$34.7

$46.9

35.4%

30.4%

$10.9

Gaming/Comp

$8.5

$9.0

$11.1

22.8%

29.8%

$2.5

Clarity

$6.4

$7.3

$4.8

-
33.8%

-
24.5%

-
$1.6

Total

$152.6

$144.5

$165.9

14.9%

8.7%

$13.3

Revenue by Product Group & Geography

($ Millions)

U.S.

$91.6

$93.4

$99.1

6.2%

8.3%

$7.6

EMEA

$42.4

$31.2

$41.6

33.5%

-
1.8%

-
$0.8

Asia Pacific

$8.0

$12.2

$12.5

2.3%

55.0%

$4.4

Americas

(excl. U.S.)

$10.6

$7.7

$12.7

64.1%

19.8%

$2.1

Total

$152.6

$144.5

$165.9

14.9%

8.7%

$13.3

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Gross Margin

45.4%
47.9%
40.1%
39.2%
49.0%
48.7%
48.9%
39%
40%
41%
42%
43%
44%
45%
46%
47%
48%
49%
50%
Q109
Q209
Q309
Q409
Q110
Q210
Q310
$121

Non
-
GAAP, Continuing Operations

Percent


Target Range: 45%
-

48%

‹#›

Operating Margin

16.9%
19.4%
5.9%
6.5%
17.9%
18.5%
19.2%
5%
10%
15%
20%
Q109
Q209
Q309
Q409
Q110
Q210
Q310
$121

Non
-
GAAP, Continuing Operations

Percent



Target Range: 18%
-

20%

‹#›

Key Focus Areas


UC Market Position


UC Product Pipeline


Bluetooth Profitability


Maintaining Strong Margins

Public

IT Makes it Happen!

‹#›

IT Overview


90+ Employees in six locations


Key Locations


Santa Cruz Corporate Headquarters


Tijuana factory, Design Center and Contact Center


Suzhou China APAC Hub


Swindon

UK EMEA Hub


‹#›

Managing
Plantronics

Global Technology Investment


Networks and connectivity


Voice communication


Email and messaging


Servers and storage


Desktop, notebooks, mobile devices


Business systems and process optimization


Service desks and support








‹#›

Key IT Roles


Business Analysts


Application Developers


Database Administrators


Project Managers


System and Storage Administrators


Network Engineers


UC Administrators


Service Desk Specialists




‹#›

Key Competencies

Project management

Security and compliance

Network architecture

Virtualization

SaaS

application management / vendor management

Unified Communications

Business process optimization












‹#›

Critical Applications


Oracle E
-
Business Suite


Financials, Manufacturing,
Supply Chain, HR


Salesforce.com


Sales and Customer Support


Microsoft Stack


XP/Win7, Office,
Sharepoint
, Exchange,
Project Server, Office Communicator,
SQLServer

and more


Business Intelligence


Oracle BI, Hyperion and canned
analytics


Plantronics.com


+ 100 other important apps


‹#›

Key Infrastructure Technologies


LAN / WAN


Masergy

MPLS Network


Cisco routers, switches and
WiFi


Servers


Windows, Linux and Sun Solaris


VMWare

virtualization platform


EMC Storage Area Networks


Mobility devices keep us
connnected

24x7


Blackberry


iPhone


Windows Mobile


iPad
?









‹#›

Tools


Enable reliability, scalability and security


Network and server monitoring


Asset management


Host and client imaging


Intrusion detection


Digital loss prevention










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Cloud Computing Has Arrived


Internal clouds


Application development and test environments


UC labs running multiple versions of leading apps from IBM, Cisco,
Avaya, Microsoft and more


External Clouds


20+
SaaS

applications and services


Taleo

applicant tracking


Salesforce.com for marketing, sales and support


Salary.com for comp planning and reviews


Right Now Technology customer support knowledge base


Iron Mountain Connected backs up client system files


Dell Message One high availability Exchange system for email
business continuity











‹#›

IT Challenges


Recent carve out and sale of
Altec

Lansing


Consumerization

of IT


Change Management


IT Service Delivery Processes