Plantronics’ (PLT, Financial) bonds traded off after the company reported disappointing results for the third quarter. The bonds recov-ered following company plans to increase cashflow through working capital improvements and a refreshed product cycle for its unified communications devices. We see Plantronics, which produces headsets and other audio-communication products, as a solid credit.
From First Eagle Investment (Trades, Portfolio)'s Global Income Builder Fund fourth-quarter 2019 shareholder letter.
