Polycom Inc Reveals 20% Drop In Q1 Profit

(RTTNews) - Polycom Inc (PLCM) reported a profit for first quarter that declined compared to the same period last year.

The company said its bottom line fell to $25.7 million, or $0.19 per share. This was down from $32.2 million, or $0.23 per share, in last year's first quarter.

Analysts had expected the company to earn $0.19 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 12.3% to $290.1 million. This was down from $330.7 million last year.

Polycom Inc earnings at a glance:

-Earnings (Q1): $25.7 Mln. vs. $32.2 Mln. last year. -Earnings Decline (Y-o-Y): -20.2% -EPS (Q1): $0.19 vs. $0.23 last year. -EPS Decline (Y-o-Y): -17.4% -Analysts Estimate: $0.19 -Revenue (Q1): $290.1 Mln vs. $330.7 Mln last year. -Revenue Change (Y-o-Y): -12.3%