(In Jan. 22 story, corrects paragraph 1 to add handsets and
paragraph 3 to say company makes video-conferencing,
teleconferencing and content-sharing hardware and software)
* 4th-qtr adj profit/shr $0.16 vs est $0.15
* 4th-qtr revenue $348 mln vs est $341.7 mln
* Company says to cut 6 percent of workforce
* Shares up 5 percent in extended trading
Jan 22 Polycom Inc reported
better-than-expected quarterly results due to higher sales of
its handsets and desktop video-conferencing devices, and said it
would cut 6 percent of its workforce.
Polycom's shares rose 5 percent after the bell.
The San Jose, California-based company makes
video-conferencing, teleconferencing and content-sharing
hardware and software.
Polycom said revenue from personal devices, one of its three
business units, rose 33 percent in the fourth quarter ended Dec.
Overall revenue fell more than 1 percent to $348 million,
hurt by a decline in sales in its larger group systems business,
which accounted for nearly two-thirds of total revenue in the
This was higher, however, than the average analysts'
estimate of $341.7 million, according to Thomson Reuters
Revenue from the Asia-Pacific region rose 4 percent in the
quarter, while sales in the Americas and the Europe, Middle East
and Africa region declined.
Polycom's fourth-quarter loss of $2.0 million, or 1 cent per
share, compared with a profit of $1.9 million, or 1 cent per
share, a year earlier.
But the company earned an adjusted profit of 16 cents per
share, beating the average analysts' estimate of 15 cents per
Polycom said in a separate filing that most of its planned
job cuts would take effect in the current quarter. As of Dec.
31, 2012, Polycom had 3,747 employees.
The company's Nasdaq-traded shares were up about 5 percent
at $12.35 in extended trading on Wednesday.
(Reporting By Sampad Patnaik; Editing by Robin Paxton)