Latest Telepresence and Visual Collaboration News:
Polycom profit jumps 50%, topping expectations
January 24, 2012 | Hogan Keyser
Shares jumped 4.9% to $19.32 after hours Monday as revenue also topped expectations. The stock had slid in recent months since hitting a 10-year high of $34.30 in July.
Polycom's revenue growth, though sharp, has eased in recent quarters after some American enterprise customers dialed back new orders. The company, which offers products ranging from video server software to immersive telepresence suites, has responded to the softer revenue growth by shifting some of its sales force and hiring executives from rival Cisco Corp.
Polycom still benefits from strong Asia-Pacific sales, which grew 42% in the latest quarter, as well as healthy business from the federal government in the U.S.
Meanwhile, the company is working to grow its mobile offerings. Polycom last year launched a high-definition video software program for media tablets and later acquired a privately held company, Vivu Inc., that develops software for web-based HD video collaboration.
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