Key Developments: Polycom Inc (PLCM.O)
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Latest Key Developments (Source: Significant Developments)
Polycom Inc Names Kevin Parker As New Chairman Of Board
Polycom Inc announced that Board of Directors has named Kevin Parker as Chairman of the Board effective May 16, 2013. Polycom's prior Chairman of the Board, David DeWalt, has resigned in order to avoid any potential auditor independence conflict relating to Polycom's independent registered public accounting firm. Mr. DeWalt is affiliated with another company that may potentially enter into a commercial relationship with this public accounting firm. Full Article
Polycom Inc Announces New $100 Million Share Repurchase Program
Polycom Inc announced that its board of directors have approved a new share repurchase program authorizing up to $100 million in share repurchases, with an expiration date of May 2, 2014. This amount is in addition to the approximately $39 million remaining as of March 31, 2013 from a prior authorization. Full Article
Polycom Inc Updates On Q2 2013 Revenue Guidance To A Range Below Analysts' Estimates; Issues Q2 2013 EPS Guidance In Line With Analysts' Estimates-Conference Call
Polycom Inc announced that for the second quarter of 2013, it expect revenue ranging from $335 million to $345 million, GAAP EPS ranging from $0.00 to $0.02 per share, and non-GAAP EPS ranging from $0.13 to $0.15 per share. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $354 million and EPS of $0.15 for second quarter of 2013. Full Article
Polycom Inc Issues Q2 2013 Revenue Guidance Above Analysts' Estimates; Issues Q3 2013 Revenue Guidance; Issues Q4 2013 Revenue Guidance Below Analysts' Estimates-Conference Call
Polycom Inc announced that for second quarter of 2013, it expects year-over-year revenue to be roughly a push or flat and in third quarter and fourth quarter of 2013, it expects year-over-year revenue growth high-single low-double digits. The Company reported revenue of $359 million in second quarter, revenue of $335 million in third quarter and revenue of $353 million in fourth quarter of 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $354 million for second quarter of 2013; revenue of $368 million for third quarter of 2013; revenue of $393 million for fourth quarter of 2013. Full Article
Polycom Inc Issues FY 2013 Revenue Guidance In Line With Analysts' Estimates-Conference Call
Polycom Inc announced that for fiscal 2013, it expects top line revenue growth in the mid to high single digits. The Company reported revenue of $1.393 billion in fiscal 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $1.451 billion for fiscal 2013. Full Article
Polycom Inc Announces Definitive Agreement To Acquire Sentri Inc To Expand Portfolio Of Advanced Services
Polycom Inc announced a definitive agreement to acquire Sentri Inc., a provider of advanced services with expertise in Microsoft technologies (such as Microsoft Lync, SharePoint and Office 365), UC&C, video collaboration, cloud services and networking. Sentri`s deep expertise integrating Microsoft Lync with Polycom solutions is a key element of the acquisition, as Polycom has a portfolio of more than 40 video and voice products that interoperate with Lync, and the majority of customers choose Polycom and Microsoft over other vendors for a complete UC&C solution. This transaction, which is valued at less than $10 million, is expected to close in the first quarter of 2013. Full Article
Polycom Inc Issues Q1 2013 Guidance Below Analysts' Estimates-Conference Call
Polycom Inc announced that for the first quarter of 2013, it expects revenue in the range of $330 million to $340 million, GAAP EPS in the range of a loss of $0.01 to a loss of $0.03 and non-GAAP EPS in the range of $0.10 to $0.12. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $341 million and EPS of $0.14 for the first quarter of 2013. Full Article
Polycom Inc Issues Q3, Q4 2012 Guidance Below Analysts' Estimates-Conference Call
Polycom Inc announced that for third quarter of 2012, it expects revenue to be in the range of $325 million to $335 million, non-GAAP operating income ranging from 4.7% to 6.5% of revenues, GAAP earnings per share ranging from a loss per share of $0.09 to $0.11 and non-GAAP EPS ranging from $0.06 to $0.09. For fourth quarter of 2012, it expects revenue to be in the range of $355 million to $365 million with the key variables being North America enterprise calendar year-end budget utilization and our Q4 product launches, non-GAAP gross profit margins ranging from 60.1% to 60.3% of revenues, total non-GAAP operating expenses ranging from 49.3% to 50.1% of revenues, non-GAAP operating income ranging from 10% to 11% of revenues, a GAAP tax rate of 21% and a non-GAAP tax rate of 21%, share count of an estimated 180 million diluted shares exclusive of stock repurchases, GAAP EPS ranging from $0.01 to $0.04, and non-GAAP EPS ranging from $0.15 to $0.17 per share. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $387 million and EPS of $0.17 for third quarter of 2012; revenue of $412 million and EPS of $0.20 for fourth quarter of 2012. Full Article
Polycom Inc's Polycom RealPresence Mobile Enables Global Insurance Catlin To Expand Collaboration From the Conference Room To Anywhere In International Team Conducts Business
Polycom, Inc announced that global insurance organization, Catlin, is using Polycom RealPresence video collaboration solutions across its global offices to provide its workforce, partners and clients with a meeting experience that offers face-to-face business communications without boundaries, no matter where in the world they are based or what equipment or technology they are using. Full Article
Polycom Inc Secures Contract From Ministry Of Public Administration And Security
Polycom Inc announced that the Ministry of Public Administration and Security for the South Korean Government has selected Polycom RealPresence video solutions for the third stage of SmartWork Center Building Project. The project is designed to promote flexible working practices in organizations across Korea, and encourage government officers to telework from anywhere, at any time. Full Article
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