Gold Sponsors
Array Telepresence Logo   Human Productivity Lab Logo   Ashton Bentley Logo
Silver Sponsors
Bronze Sponsors
Telepresence Options Magazine

Latest Telepresence and Visual Collaboration News:
Full Article:

Polycom Announces Financial Results for Fourth Quarter and Fiscal Year 2015

January 28, 2016 | Telepresence Options


Full Year Operating Margin, Net Income and EPS Grew Year-over-Year

SAN JOSE, Calif.--(BUSINESS WIRE)--Polycom, Inc.. (Nasdaq: PLCM) today reported fourth quarter 2015 revenues of $317 million, non-GAAP net income of $32 million and non-GAAP earnings per diluted share of 23 cents. GAAP net income for the fourth quarter was $14 million, or 11 cents per diluted share on a GAAP basis. Polycom also reported full year 2015 revenues of $1.3 billion, non-GAAP net income of $123 million and non-GAAP earnings per diluted share of 90 cents. GAAP net income for the full year 2015 was $69 million, or 50 cents per diluted share on a GAAP basis. Polycom's quarterly and full year financial results, along with a reconciliation of GAAP to non-GAAP performance, are provided in the tables at the end of this press release.

"Polycom reported in-line quarterly performance and continued year-over-year improvement in non-GAAP operating margin," said Peter Leav, President and Chief Executive Officer. "We are excited with the positive customer feedback and long term opportunities created by our newest product innovations."

"Polycom worked diligently to improve the flexibility of its financial model in 2015," said Laura Durr, Chief Financial Officer and Executive Vice President. "These efforts allowed us to significantly improve company operating performance for the second year in a row." Polycom generated $120 million in operating cash flow and repurchased $90 million in common stock in 2015..

On a comparative basis, consolidated financial results were

Thumbnail image for Polycom_financail_results2015.png

On a geographic basis, consolidated revenues were comprised of:

Thumbnail image for Polycom_financail_results2015_1.png

By product category, inclusive of its service component, consolidated revenues were comprised of:


In Q4 2015, Polycom generated a total of $31 million in operating cash flow. Cash and investments at the end of Q4 2015 totaled $666 million, of which approximately $232 million is located in the United States. Net of existing debt, cash and investments at the end of Q4 2015 totaled $431 million.


Polycom will hold a conference call today, January 26, 2016, at 5:00 p.m. ET/2:00 p.m. PT to discuss fourth quarter 2015 financial results and guidance for the first quarter 2016. You may participate by listening to the webcast at or, for callers in the United States and Canada; you may participate by calling +1.800.768.9711 and for callers outside of the United States and Canada, by calling +1.303.223.0120. A replay of the call will also be available at or, for callers in the United States and Canada, at +1.800.633.8284 and, for callers outside of the United States and Canada, at +1.402.977.9140. The access number for the replay is 21803726.

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, including statements regarding the long term opportunities created by our newest product innovations and improving operating performance. 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 on 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 and investment; 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 of capital; changes in key sales and other 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 Quarterly Report on Form 10-Q for the quarter ended September 30, 2015, 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. 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 or diluted net income per share prepared in accordance with GAAP 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 or connect with us on Twitter, Facebook and LinkedIn to learn more.

© 2016 Polycom, Inc. All rights reserved. POLYCOM®, the Polycom logo, and the names and marks associated with Polycom's products are trademarks and/or service marks of Polycom, Inc. and are registered and/or common law marks in the United States and various other countries. All other trademarks are property of their respective owners.

Thumbnail image for Polycom_financail_results2015_3.pngThumbnail image for Thumbnail image for Polycom_financail_results2015_3.pngPolycom_financail_results2015_5.pngPolycom_financail_results2015_6.pngPolycom_financail_results2015_7.pngPolycom_financail_results2015_8.pngPolycom_financail_results2015_9.pngPolycom_financail_results2015_10.pngPolycom_financail_results2015_11.pngPolycom_financail_results2015_12.png


Polycom, Inc.
Investor Contact:
Laura Graves, 1-408-586-4271
[email protected]
Press Contact:
Michael Rose, 1-408-586-3839
[email protected]

Add New Comment

Telepresence Options welcomes your comments! You may comment using your name and email (which will not be displayed), or you may connect with your Twitter, Facebook, Google+, or DISQUS account.