Thu, Oct. 22, 11:10 AM
- Just as it posted in-line Q3 EPS in spite of a revenue miss, Polycom (NASDAQ:PLCM) guided on its earnings call (transcript) for Q4 revenue of $310M-$320M and EPS of $0.22-$0.24 vs. a consensus of $322.5M and $0.23. But with the company having forecast to see Y/Y revenue declines in Q3, Q4, and Q1 going into earnings, expectations were low.
- CEO Peter Leav admitted on the call competition from Cisco weighed on Q3 sales, in addition to delayed customer decisions ahead of a product refresh. "Typically Q3 is our largest competitor's best quarter ... That's their end of year and obviously they're in the midst of a new product refresh, their first in five or six years and we were giving hints that we would have a new refresh as well, particularly on the Group [conferencing] side ... We were challenged as well on the audio [conferencing] side in Group because of some insights that for the first time in seven years we would have new audio capabilities in the center of the conference room, which obviously we have since announced."
- UC Group System revenue fell 15% Y/Y to $184.9M, UC Personal Devices rose 5% to $63.3M, and UC Platform (software) fell 6% to $55M. Americas, EMEA, and Asia-Pac sales all fell.
- Lifting EPS: Gross margin rose 30 bps Y/Y to 59.7%, operating expenses totaled 47.6% of revenue vs. 47.9% a year ago (in spite of lower revenue), and $25M was spent on buybacks.
- Q3 results, PR
- Two weeks ago: Polycom soars after activist discloses stake, calls for Mitel merger
Wed, Oct. 21, 4:08 PM
Tue, Oct. 20, 5:35 PM| Tue, Oct. 20, 5:35 PM | 7 Comments
Wed, Jul. 22, 6:55 PM
- Polycom (NASDAQ:PLCM) has dropped to $10.81 AH after soundly missing Q2 revenue estimates (while posting in-line EPS). Q3 EPS guidance is at $0.20-$0.22 vs. a $0.22 consensus.
- UC Group System (group videoconferencing hardware, 62% of total revenue) revenue fell 11% Y/Y in Q2 to $195.2M. UC Personal Devices (individual systems) revenue rose 25% to $66.8M. UC Platform (software) revenue fell 9% to $54.6M. Cisco and various smaller players (Vidyo, Blue Jeans Network, etc.) continue providing tough competition.
- Helping EPS meet estimates: Operating expenses fell by $9M Y/Y to $150M, and $25M was spent on buybacks. Non-GAAP gross margin fell 30 bps Y/Y to 59.2%.
- Q2 results, PR
Wed, Jul. 22, 4:09 PM
Tue, Jul. 21, 5:35 PM| Tue, Jul. 21, 5:35 PM | 5 Comments
Wed, Apr. 22, 4:08 PM
Tue, Apr. 21, 5:35 PM| Tue, Apr. 21, 5:35 PM | 6 Comments
Thu, Jan. 22, 11:30 PM
- Polycom (NASDAQ:PLCM) guided on its Q4 CC for Q1 revenue of $328M-$338M and EPS of $0.19-$0.21, in-line with a consensus of $333.5M and $0.20.
- UC Personal Device (personal videoconferencing system) sales rose 7% Y/Y in Q4 to $66.6M, helping make the revenue beat possible. UC Group System (group videoconferencing) revenue rose 1% to $219.2M - Cisco has also been having a hard time in this market - and UC Platform (software) revenue fell 7% to $63.1M.
- Giving EPS a lift: Sales/marketing spend fell 10% Y/Y to $99M, and R&D spend fell 6% to $48.3M. Gross margin fell 40 bps Y/Y to 58.4%, and $25M was spent on buybacks.
- Polycom ended Q4 with net cash/investments of $446M. That's equal to 25% of its market cap at current levels. Shares rose to $12.80 in AH trading.
- Q4 results, PR
Thu, Jan. 22, 4:08 PM
Wed, Jan. 21, 5:35 PM
Oct. 22, 2014, 4:15 PM
Oct. 21, 2014, 5:35 PM
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Jul. 23, 2014, 7:01 PM
- A 6% Y/Y drop in Polycom's (NASDAQ:PLCM) UC Group Systems (group videoconferencing hardware, 66% of total revenue) sales to $218.5M contributed to its Q2 revenue miss.
- UC Personal Devices (individual systems, 16% of revenue) sales grew 5% to $53.6M, and UC Platform (software, 18% of revenue) sales fell 2% to $59.9M.
- Americas revenue (51% of total) -4% Y/Y, and Asia-Pac revenue (24% of total) -10%. EMEA (25% of total) +4%.
- A 40 bps Y/Y increase in gross margin to 58.8% contributed to the EPS beat. As did double-digit drops in sales/marketing and R&D spend.
- A new $200M buyback has been authorized. It's good for repurchasing over 11% of shares at current levels.
- Q2 results, PR
Jul. 23, 2014, 4:11 PM
Jul. 22, 2014, 5:35 PM
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Polycom Inc provides easy-to-use communication solutions that enable enterprise, government, education & healthcare customers to collaborate over distance, time zones and organizational boundaries. Its solutions include Polycom, RealPresence & Platform.
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