Plantronics (PLT) Reports Q3 EPS of $1.36, Revenues Beat; Offers Q4 EPS/Revenue Outlook

Plantronics (NYSE: PLT) reported Q3 EPS of $1.36, versus ($0.77) reported last year. Revenue for the quarter came in at $530.6 million versus the consensus estimate of $498.91 million.

“We continue to make progress on our ongoing product roadmap, integration plans, and financial goals, meeting or exceeding our guidance targets, with operating income and EBITDA more than doubling as result of the acquisition,” said Joe Burton, President and Chief Executive Officer. “The launch of Polycom Studio, the first in a family of multi-media video solutions designed specifically for the Huddle Room, is just one example of how we are leveraging our innovative engineering and design to address specific customer needs in this fast-growing segment of the UC&C market.”

“We remain on track to deliver on our cost synergy targets and are pleased by the $45M of run-rate annualized cost synergies achieved to date as we continue to execute on our integration plans,” said Pam Strayer, Executive Vice President and Chief Financial Officer. “Revenue growth in desktop phones, audio conferencing, and headsets, coupled with expense reductions drove strong profitability for the third quarter.”

GUIDANCE:

Plantronics sees Q4 2019 EPS of $1.00-$1.30, versus the consensus of ($0.91). Plantronics sees Q4 2019 revenue of $456-486 million, versus the consensus of $497.28 million.

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

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