April 23 Videoconferencing equipment maker
Polycom Inc reported a better-than-expected quarterly
adjusted profit as cost cuts, including workforce reductions,
The company posted a first-quarter loss of $4 million, or 3
cents per share, compared with a profit of $2.6 million, or 1
cent per share, a year earlier.
Excluding items, it earned 18 cents per share in the three
months ended March 31, beating analysts' average estimate of 15
cents per share, according to Thomson Reuters I/B/E/S.
Revenue fell 3 percent to $328.5 million, but also beat
analysts' average expectation of $327.5 million.
Operating margin rose to 10.1 percent from 9.8 percent.
The company's headcount fell to 3,578 as of March 31, from
3,774 as of the end of December.
(Reporting by Abhirup Roy in Bangalore; Editing by Savio