Plantronics Inc. (PLT - $27.34 - NYSE) (PLT, Financial) is a leading maker of communications endpoints. Specifically, it is among the leading makers of telephony and computer headsets, audioconferencing equipment, and video conferencing equipment. The stock performed poorly in the fourth quarter after the company reported disappointing calendar third quarter earnings and lowered earnings guidance for the rest of its fiscal year. While the company has a robust new product pipeline, it appears to be struggling with product transition issues in several of its product segments. This has left it with too much inventory at its dealers which will take some time to work through which impacts sales going forward.
From Keeley Asset Management's Small Cap Dividend Value Fund fourth-quarter shareholder commentary.
