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Polycom Up 6%: Q4 Beats, Plans to Cut 6% of Workforce
Shares of enterprise telephony and video-conferencing vendor�Polycom (PLCM) are up 71 cents, or 6%, at $12.48, in late trading, after the company this afternoon reported Q4 revenue and earnings per share that topped analysts' expectations, and said it plans to cut 6% of its workforce in order to manage expenses and increase operating profit margin.
Revenue in the three months ended in December fell 1.4%, year over year, to $347.9 million, yielding EPS 16 cents.
Analysts had been modeling $342 million and 15 cents.
In a filing with the�Securities & Exchange Commission, the company said it plans to reduce headcount by approximately 6% this quarter.
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