Transition from legacy TDM-based voice services to modern, all-IP networks on the FCC's mind
The Federal Communications Commission (FCC) has released a Notice of Proposed ...
24 Apr, 2015
- Non-GAAP Earnings Per Share grows 28 percent year-over-year
- GAAP Earnings Per Share grows 600 percent year-over-year
| ($ in millions, except per share data) | Q1 2015 | Q4 2014 | Q1 2014 | Year-Over-Year Change | ||||||||||||
| Revenues | $ | 330.7 | $ | 348.9 | $ | 328.5 | 1 | % | ||||||||
| Non-GAAP Net Income | $ | 32.2 | $ | 33.6 | $ | 26.1 | 24 | % | ||||||||
| Non-GAAP EPS | $ | 0.23 | $ | 0.24 | $ | 0.18 | 28 | % | ||||||||
| GAAP Net Income (Loss) | $ | 21.2 | $ | 20.5 | $ | (4.0 | ) | 631 | % | |||||||
| GAAP EPS | $ | 0.15 | $ | 0.15 | $ | (0.03 | ) | 600 | % | |||||||
| ($ in millions) | Q1 2015 | Q4 2014 | Q1 2014 | Year-Over-Year Change | ||||||||||||||
| Americas | $ | 157.4 | $ | 165.3 | $ | 163.1 | (4) | % | ||||||||||
| % of revenues | 48 | % | 47 | % | 50 | % | ||||||||||||
| Europe, Middle East & Africa (EMEA) | 93.8 | 93.7 | 89.0 | 5 | % | |||||||||||||
| % of revenues | 28 | % | 27 | % | 27 | % | ||||||||||||
| Asia Pacific | 79.5 | 89.9 | 76.4 | 4 | % | |||||||||||||
| % of revenues | 24 | % | 26 | % | 23 | % | ||||||||||||
| Totals * | $ | 330.7 | $ | 348.9 | $ | 328.5 | 1 | % | ||||||||||
| * may not foot due to rounding | ||||||||||||||||||
| ($ in millions) | Q1 2015 | Q4 2014 | Q1 2014 | Year-Over-Year Change | |||||||||||||
| UC Group Systems | $ | 204.6 | $ | 219.2 | $ | 213.4 | (4) | % | |||||||||
| % of revenues | 62 | % | 63 | % | 65 | % | |||||||||||
| UC Personal Devices | 67.5 | 66.6 | 56.5 | 19 | % | ||||||||||||
| % of revenues | 20 | % | 19 | % | 17 | % | |||||||||||
| UC Platform | 58.6 | 63.1 | 58.7 | — | |||||||||||||
| % of revenues | 18 | % | 18 | % | 18 | % | |||||||||||
| Totals * | $ | 330.7 | $ | 348.9 | $ | 328.5 | 1 | % | |||||||||
| * may not foot due to rounding | |||||||||||||||||
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+1.212.231.2911. The pass code for the call is “Polycom.” A replay of the call will also be available at
www.polycom.com/investors or, for callers in the U.S. and Canada, at
+1.800.633.8284 FREE and, for callers outside of the United States and Canada, at
+1.402.977.9140. The access number for the replay is 21766308.
Forward Looking Statements and Risk Factors This release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 regarding our future financial and operating performance, including future improvement in operating income and earnings per share and future revenue growth. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the impact of competition on our product sales and for our customers and partners and any resulting loss of business; the impact of increased competition due to consolidation in our industry or competition from companies that are larger or that have greater resources than we do; potential fluctuations in results and future growth rates; risks associated with global economic conditions and external market factors; the market acceptance of our products and changing market demands, including demands for differing technologies or product and services offerings; our ability to successfully implement process improvements and cost containment initiatives; changes to our strategic areas of focus; our ability to successfully integrate our acquisitions into our business; possible delays in the development, availability and shipment of new products due to engineering, manufacturing or other delays; increasing costs and the availability and differing uses of capital; changes in key personnel that may cause disruption to the business; the impact of restructuring actions; and the impact of global conflicts that may adversely impact our business. Many of these risks and uncertainties are discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014, and in other reports filed by Polycom with the SEC. Polycom disclaims any intent or obligations to update these forward-looking statements. Polycom reserves the right to modify future product plans at any time. Products and/or related specifications referenced in this press release are not guaranteed and will be delivered on a when and if available basis.
GAAP to non-GAAP Reconciliation To supplement our consolidated financial statements presented on a GAAP basis, Polycom uses non-GAAP measures of operating results, net income and income per share, which are adjusted to exclude certain costs, expenses, gains and losses we believe appropriate to enhance an overall understanding of our past financial performance and also our prospects for the future. These adjustments to our current period GAAP results are made with the intent of providing both management and investors a more complete understanding of Polycom’s underlying operational results and trends and our marketplace performance. For example, the non-GAAP results are an indication of our baseline performance before gains, losses, or other charges that are considered by management to be outside of our core operating results. In addition, these adjusted non-GAAP results are among the primary indicators management uses as a basis for our planning and forecasting of future periods. The presentation of this additional information is not meant to be considered in isolation or as a substitute for net income (loss) or diluted net income (loss) per share prepared in accordance with generally accepted accounting principles in the United States.
About Polycom Polycom helps organizations unleash the power of human collaboration. More than 415,000 companies and institutions worldwide defy distance with secure video, voice and content solutions from Polycom to increase productivity, speed time to market, provide better customer service, expand education and save lives. Polycom and its global partner ecosystem provide flexible collaboration solutions for any environment that deliver the best user experience, the broadest multi-vendor interoperability and unmatched investment protection. Visit
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