Polycom's 1Q Earnings Beat Estimate - Analyst Blog
24 Aprile 2013 - 11:00AM
Zacks
Polycom Inc.
(PLCM) posted first-quarter 2013 adjusted earnings per share
(excluding stock-based compensation items) of 6 cents, breezing
past the Zacks Consensus Estimate of 1 cent.
GAAP net income in the first
quarter of 2013 was $2.6 million or 1 cent per share compared with
GAAP net income of $15.1 million or 8 cents per share in the
prior-year quarter.
Total revenue in the first quarter
of 2013 was $339 million, down 2.0% year over year, but just above
the Zacks Consensus Estimate of $336 million. Segment wise, UC
Group Systems revenues were $232.4 million, down 3% year over year.
UC Personal Devices revenues were $49.3 million, up 8% year over
year. UC Platform (Network Infrastructure) revenues were $57.1
million, down 4% year over year.
Geographic Distribution of
Sales
In the first quarter of 2013,
America generated approximately $171.0 million of revenues, up 3%
year over year. Europe, the Middle East and Africa generated $89.1
million, down 5% year over year. Asia-Pacific accounted for the
remaining $78.7 million, down 10% year over year.
Margins
Gross margin in the reported
quarter was 58.8% compared with 59.7% in the year-ago quarter.
Quarterly operating expenses were $199.6 million, up 4.9% year over
year. The increase in operating expenses was based on higher
restructuring and research and development expenses.
Balance Sheet
At the end of first-quarter 2013,
Polycom had nearly $682.8 million of cash and short-term
investments on its balance sheet compared with $674.3 million at
the end of 2012. Its balance sheet remained clear of any
outstanding debt at the end of the first quarter of 2013.
Cash Flow
Cash flow from operations at the
end of the first quarter of 2013 was $49.0 million, up from $32.0
million at the end of the first quarter of 2012. Free cash flow
(cash flow from operations less capital expenditure) was $36.3
million at the end of first-quarter 2013 up from $16.2 million at
the end of 2012.
Currently, Polycom Inc. carries a
Zacks Rank #3 (Hold).
Other Stocks to
consider
Other stocks worth considering in
this sector include Qualcomm Inc. (QCOM),
Motorola Solutions Inc. (MSI) and AT&T
Inc. (T). Currently QCOM carries a Zacks Rank #1 (Strong
Buy) while MSI and T carry a Zacks Rank #2 (Buy).
MOTOROLA SOLUTN (MSI): Free Stock Analysis Report
POLYCOM INC (PLCM): Free Stock Analysis Report
QUALCOMM INC (QCOM): Free Stock Analysis Report
AT&T INC (T): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Grafico Azioni Motorola Solutions (NYSE:MSI)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Motorola Solutions (NYSE:MSI)
Storico
Da Lug 2023 a Lug 2024