Polycom's Revenues grew 4 Per Cent Y-o-Y

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

 

Polycom has reported its financial results for the second quarter ending June 30, 2012.  Total combined revenues were $379 million, including revenues from the company’s Enterprise Wireless Solutions (EWS) business of $21 million. Polycom has announced plans to divest the EWS business in order to focus its product and technology portfolio on core unified communications and video collaboration solutions.

The second quarter 2012 consolidated net revenues from continuing operations were $359 million, up 5 per cent year-over-year as compared to $341 million for the second quarter of 2011. Non-GAAP net income for the second quarter of 2012 was $39 million, or 22 cents per diluted share, compared to non-GAAP net income of $43 million, or 24 cents per diluted share, for the second quarter of 2011. GAAP net income for the second quarter of 2012 was $7 million, or 4 cents per diluted share, compared to $29 million, or 16 cents per diluted share, for the same period last year. The share and per share data for all periods presented in this release have been adjusted to reflect the two-for-one stock split that was effective July 1, 2011 and the classification of Polycom’s EWS business as discontinued operations.

“Demand for our best-in-class UC solutions was solid in Q2, which allowed us to exceed both revenue and earnings expectations. In the second half of this year, we will be launching a series of products that we believe will be game-changing and will allow us to expand our addressable market and extend our advantages versus the competition,” said Andrew M. Miller, President & Chief Executive Officer, Polycom.

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