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October 15, 2002

Plantronics second-quarter profit up sharply

From: Reuters
Oct. 15, 2002

Reuters, 10.15.02, 4:14 PM ET

SANTA CRUZ, Calif., Oct 15 (Reuters) - Telephone headset maker Plantronics Inc. (nyse: PLT - news - people) on Tuesday posted a sharply higher fiscal second-quarter profit, driven by stronger sales of its products for mobile and computer users.

Santa Cruz, California-based Plantronics, maker of headsets and specialty telephones for hearing-impaired users, said net income rose to $11.5 million, or 24 cents a share, from $6.8 million, or 14 cents per share a year ago.

The Wall Street per-share consensus estimate was 23 cents, while the expected profit ranged from 20 cents to 25 cents, according to Thomson First Call.

Revenue for the quarter, which ended in September, rose to $82.3 million from $75.2 million a year-ago.

Before the results were released, shares of Plantronics rose 57 cents on Tuesday to close at $18.00.

Copyright 2002, Reuters News Service