Plantronics (PLT) Tops Q4 EPS by 9c

Plantronics (NYSE: PLT) reported Q4 EPS of $0.64, $0.09 better than the analyst estimate of $0.55. Revenue for the quarter came in at $209.8 million versus the consensus estimate of $205.06 million.

"Unified Communications remains our core growth driver and we anticipate incremental growth opportunities from as-a-service and Soundscaping revenues in the coming years. Our outlook for growth over the next several years has improved, and our recent restructuring has enhanced our ability to grow Non-GAAP operating margins," stated Ken Kannappan, President & CEO. "Given a stable market environment, we anticipate mid to high single digit percentage revenue growth annually provided there are not any significant fluctuations in currency exchange rates."

"Both Enterprise and Consumer delivered solid growth , despite continued currency headwinds and the loss of hedge gains compared to the prior year, which lowered our revenue growth by 190 basis points, while an extra week in the fourth quarter aided our growth rate," stated Pam Strayer, Senior Vice President and Chief Financial Officer. We remain committed to returning to our long-term profitability target of Non-GAAP operating margins of 20% to 23%. In Fiscal 2017, we expect to meet or exceed the Non-GAAP operating margins we recorded in fiscal year 2016."

GUIDANCE:

Plantronics sees Q1 2017 EPS of $0.63-$0.73, versus the consensus of $0.62. Plantronics sees Q1 2017 revenue of $207-217 million, versus the consensus of $207.7 million.

For earnings history and earnings-related data on Plantronics (PLT) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Newton Golf Company (NWTG) Reports Q2 Loss of $0.49
• Edible Garden AG (EDBL) Reports Q2 Loss of $18.79