United States

Polycom Inc (PLCM.O)

PLCM.O on Nasdaq

28 Jul 2016
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Latest Key Developments (Source: Significant Developments)

Polycom Q2 non-GAAP earnings per share $0.21
Thursday, 21 Jul 2016 04:05pm EDT 

Polycom Inc : Polycom announces financial results for second quarter 2016 . Q2 GAAP loss per share $0.07 . Q2 revenue $288 million versus i/b/e/s view $295 million . Q2 non-GAAP earnings per share $0.21 .Q2 earnings per share view $0.20 -- Thomson Reuters I/B/E/S.  Full Article

Elliott Management dissolves stake in Polycom
Tuesday, 12 Jul 2016 06:32pm EDT 

Polycom Inc :Elliott Management dissolves stake in polycom inc as of july 8 versus previous stake holding of 6.6 percent as of april 15 - sec filing - Sec filing.  Full Article

Polycom says Triangle will be required to pay termination fee of $130 mln
Friday, 8 Jul 2016 04:08pm EDT 

Polycom Inc :Triangle will be required to pay termination fee to the company in the amount of $130 million - sec filing.  Full Article

Mitel says Polycom to pay $60 mln as deal termination fee
Friday, 8 Jul 2016 07:00am EDT 

Mitel Networks Corp : Says received notice from Polycom of a superior proposal from a third party . Polycom will terminate merger agreement and pay Mitel $60 million termination fee concurrently with termination . Mitel responds to notification from Polycom of superior proposal . Waives right to match consideration payable to Polycom stockholders . Says Polycom has indicated that it will promptly terminate merger agreement .Says Polycom will pay Mitel $60 million termination fee concurrently with termination.  Full Article

Polycom receives revised proposal from private equity sponsor
Wednesday, 8 Jun 2016 06:21am EDT 

Polycom Inc : Received a revised, non-binding proposal from a private equity sponsor - SEC filing . Under revised proposal, sponsor 1 would acquire Polycom for an all-cash offer of $12.25 per share in a take-private transaction . Polycom's board reaffirms its recommendation that Polycom's stockholders vote in favor of proposed merger with Mitel . Sponsor 1 indicated that revised proposal would be funded, in part, with $650 million of equity financing and $950 million of debt financing . Revised proposal included letter from a potential lender indicating that potential lender was "highly confident" it could arrange debt financing .Board will consider outcome of its discussions or negotiations with sponsor 1 to determine best course of action.  Full Article

Mitel Networks gets U.S. FTC approval for acquisition of Polycom
Thursday, 19 May 2016 09:03am EDT 

Mitel Networks Corp :Mitel receives U.S. Federal Trade Commission approval for proposed acquisition of Polycom.  Full Article

Polycom Inc - Ex-Polycom CEO to pay $450,000 to settle U.S. SEC case over perks - Reuters
Monday, 25 Jan 2016 12:19pm EST 

Polycom Inc:The former chief executive of Polycom Inc PLCM.O has agreed to pay $450,000 to resolve a lawsuit by the U.S. Securities and Exchange Commission accusing him of using company funds for personal expenses and falsifying business records to conceal it. - RTRS.Andrew Miller, the technology company's former CEO, has also agreed not to serve as an officer at a publicly traded company for five years to resolve the SEC's lawsuit, according to papers filed on Friday in federal court in Oakland, California. - RTRS.Miller neither admitted nor denied wrongdoing in agreeing to settle the lawsuit, which the SEC filed in March. Polycom previously agreed to pay $750,000 to resolve related charges over inadequate internal controls and disclosure violations - RTRS.According to the SEC, Miller engaged in a long-running scheme to use Polycom funds for his own personal expenses, including meals, travel, entertainment and gifts. - RTRS.To hide the scheme, the SEC said Miller from 2010 until his resignation in July 2013 falsified business records, evading a requirement that he and Polycom disclose to investors such perquisites - RTRS.In total, the SEC said Miller used more than $200,000 of Polycom funds for personal perks without disclosing them to investors - RTRS.  Full Article

Polycom Inc to reduce 11 pct of workforce - Reuters
Thursday, 3 Dec 2015 08:48am EST 

Polycom Inc:Polycom Inc PLCM.O said it would cut about 11 percent of its workforce - RTRS.The company also said on Thursday that it would reduce or eliminate some leased facilities and close its Israel office - RTRS.Polycom said it would incur $22 million-$25 million in charges related to the job cuts and restructuring in the fourth quarter of 2016 - RTRS.  Full Article

Polycom Inc gives Q2 2015 guidance in line with analysts' estimates - Conference Call
Wednesday, 22 Apr 2015 05:00pm EDT 

Polycom Inc:Expects Q2 2015 revenues ranging from $329 million to $339 million.Expects Q2 2015 non-GAAP EPS to range from $0.21 to $0.23 per share.Expects Q2 2015 GAAP EPS to range from $0.13 to $0.15 per share.Q2 2015 revenue of $339 million and EPS of $0.22 - Thomson Reuters I/B/E/S.  Full Article

Polycom Inc agrees to pay $750,000 to settle SEC civil charges - WSJ
Tuesday, 31 Mar 2015 02:50pm EDT 

Polycom Inc:Agrees to pay the SEC $750,000 to settle civil charges that it had inadequate internal controls and failed to report to investors that a former chief executive used nearly $200,000 of corporate funds for personal perks - The Wall Street Journal.The SEC alleged former CEO Andrew Miller created hundreds of false expense reports for his personal use of company money for meals, entertainment and gifts.The case against Miller continues in federal court, according to the SEC.The company agrees to the settlement without admitting or denying the SEC’s findings.The amount of the SEC penalty payment was fully reserved in the company's financial statements for the quarter ended Sept. 30, 2014.  Full Article

BRIEF-Polycom Q2 non-GAAP earnings per share $0.21

* Polycom announces financial results for second quarter 2016