Polycom Released the Company’s Financial Results for the First Quarter of 2013: Garnering Total Revenue of $339 Million

Polycom, Inc. released the company’s financial reports for the first quarter of the year 2013. This quarter ended last March 31, 2013 and some of the highlights in the report includes these statistics:

• Net Revenues: $339 Million [First quarter of 2012: $346 Million/2% decrease]
• Non-GAAP Net Income: $23 million or 13 cents per diluted share [First quarter of 2012: $35 million or 20 cents per diluted share]
• GAAP Net Income: $3 million, or 1 cent per diluted share [First quarter of 2012: of $15 million or 8 cents per diluted share]

Classification of Polycom’s Enterprise Wireless Solutions business is supposed as discontinued operations, when considering the periods of presentations. In addition to that, the GAAP net income and non-GAAP net income are also reconciled.

Polycom President and Chief Executive Officer Andrew M. Miller believes that the company performed better than expected and said, “Polycom posted better than expected Q1 results as we continued to deliver industry-leading products and unmatched interoperability, along with strong sales execution. With the recent release of our breakthrough Polycom® RealPresence® CloudAXIS™ Suite, Polycom is now shipping an innovative, best-in-class portfolio, which extends secure, enterprise-grade video collaboration to anyone with a Web browser.  We remain focused on our long-term strategic plan to make video collaboration ubiquitous in the enterprise.” 

Polycom Chief Operating Officer and Chief Financial Officer Eric Brown said in addition, “We are pleased to report 3 percent year-over-year revenue growth in the Americas, our largest geographic segment, 8 percent year-over-year revenue growth in UC Personal Devices, and 10 percent year-over-year revenue growth in Services. We remain confident in our competitive position in the unified communications and collaboration marketplace, and we are seeing good traction with our new product releases.”

First Quarter of 2013 Consolidated Net Revenues (Geographically-based)

• America: 51% $171.0 million [3% increase]
• Europe, Middle East, and Africa (EMEA): 26% or $89.1 million [5% decrease]
• Asia Pacific: 23% or $78.7 million [10% decrease]

First Quarter of 2013 Consolidated Net Revenues (Product Line-based)

• UC Group Systems: $232.4 million [3% decrease]
• UC Personal Devices: $49.3 million [8% increase]
• UC Platform: $57.1 million [4% decrease]

Visit our store if you want to skim through Polycom products you can enjoy.

Other Statistics included in the Report are:

• Operating Cash Flow: $49 Million (on a trailing 12 month basis was $204 million)
• Deferred Revenue Balances: $253 million [1% increase]
• Repurchased Common Stock: $34 Million
• Remaining Available Authorization: $39 Million (As of March 31, 2013)

Q1 2013 Business Highlights

Here are some of the business highlights of the company in the first quarter of 2013:

• Expanding Polycom’s Market Leading Solutions for Microsoft® Lync® Environments
• Announced broad interoperability for Microsoft® Lync® 2013
• Finalized the acquisition of the assets of Sentri, Inc.
• Announced the Polycom® RealPresence® Content Sharing Suite
• Offering New Personal, Group and Vertical Solutions Designed to Open New Markets and Accelerate Growth
• Launched new Video SmartStart offerings
• Unveiled the Polycom® VVX® 300 and Polycom® VVX® 400 Business Media Phones
• Announced the Polycom® SoundStation® Connect audio conference solution
• Announced additional Polycom solutions [including: Polycom® RealPresence® Practitioner Cart® 8000 and the Polycom® CX Series of IP phones optimized for Microsoft Lync]
• Enabling Service Providers and Partners to Offer Differentiated Video Services
• Having AT&T will incorporate the highly interoperable Polycom RealPresence Platform as part of the AT&T Telepresence Solution video infrastructure in the AT&T Business Exchange
• Polycom RealPresence Platform Powering 40 Service and Solutions Providers
• Received CRN's respected 5-Star Rating for the Polycom Choice Partner Programme for the fourth year in a row

Further details on the highlights can be found here.

Polycom Conference Call for 2013 First Quarter Financial Results Discussion

Polycom hosted a conference call in order to discuss the financial reports of the company in the first quarter of 2013 on April 24, 2013. Here are the time schedule:

• Singapore: 5:00 A.M.
• Sydney: 7:00 A.M.

Hosts of the conference call were:

• President and CEO Andrew M. Miller
• Chief Operating Officer and Chief Financial Officer Eric Brown

Callers outside Canada and the U.S, can join by dialing + 1.303.223.2680 and using the passcode: Polycom. Participants can also view the webcast in this site.

The replay of the conference call will be available on this site for at least three months. You can also dial +1.402.977.9140 and use the access number 21654613.

Forward Looking Statements and Risk Factors and GAAP to non-GAAP Reconciliation can be found in this site.