Polycom Inc (PLCM.O) Key Developments | Reuters.com
Edition:
United States

Polycom Inc (PLCM.O)

PLCM.O on Nasdaq

11.17USD
1 Jul 2016
Change (% chg)

$-0.08 (-0.71%)
Prev Close
$11.25
Open
$11.24
Day's High
$11.44
Day's Low
$11.17
Volume
826,467
Avg. Vol
1,466,102
52-wk High
$14.09
52-wk Low
$8.79

Latest Key Developments (Source: Significant Developments)

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

Polycom Inc and Microsoft Corp expand relationship through new series of video collaboration solutions for Skype for business
Wednesday, 18 Mar 2015 10:00am EDT 

Polycom Inc and Microsoft Corp:Expands relationship through which Polycom plans to deliver a new series of video collaboration solutions purpose-built for Skype for business called Polycom(reg) RoundTable.Says first device in this new offering is Polycom(reg) RoundTable(reg) 100 and teams with Skype for business and Microsoft Lync 2013 to enjoy rich collaboration experiences, including voice, video and content collaboration, simply by logging into their Skype for business account.  Full Article

Polycom Inc gives Q1 2015 guidance in line with analysts' estimates - Conference Call
Thursday, 22 Jan 2015 05:00pm EST 

Polycom Inc:Expects Q1 2015 Revenue ranging from $328 million to $338 million.Expects Q1 2015 non-GAAP EPS ranging from $0.19 to $0.21 per share.Expects Q1 2015 GAAP EPS to range from $0.10 to $0.12 per share.Q1 2015 revenue of $334 million and EPS of $0.20 - Thomson Reuters I/B/E/S.  Full Article

Polycom Inc gives Q4 2014 guidance in line with analysts' estimates - Conference Call
Wednesday, 22 Oct 2014 05:00pm EDT 

Polycom Inc:Expects Q4 2014 revenue guidance ranging from $342 million to $352 million.Expects Q4 2014 non-GAAP EPS ranging from $0.21 to $0.23 per share.Expects Q4 2014 GAAP EPS to range from $0.11 to $0.13 per share.Q4 2014 revenue of $349 million and EPS of $0.22 - Thomson Reuters I/B/E/S.  Full Article

Polycom Inc gives Q3 2014 guidance in line with analysts' estimates - Conference Call
Wednesday, 23 Jul 2014 05:00pm EDT 

Polycom Inc:Expects Q3 2014 revenue ranging from $330 million to $340 million.Expects Q3 2014 non-GAAP EPS ranging from $0.18 to $0.20 per share.Expects Q3 2014 GAAP EPS to range from $0.07 to $0.09 per share.Q3 2014 revenue of $339 million and EPS of $0.19 - Thomson Reuters I/B/E/S.  Full Article

Polycom gets revised bid from private equity firm

Polycom Inc said it received a revised offer from a private equity firm - the third time the bidder has revised its offer since the video conferencing equipment maker agreed to be acquired by Canada's Mitel Networks Corp .