JPMorgan Downgrades Plantronics (PLT) to Neutral

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Go back to JPMorgan Downgrades Plantronics (PLT) to Neutral

Q2 Results Meet Guidance; GAAP and Non-GAAP EPS Grew by 21% and 17%, Unified Communications and Consumer Continue to Drive Growth

November 1, 2016 4:00 PM EDT

SANTA CRUZ, CA -- (Marketwired) -- 11/01/16 -- Plantronics, Inc. (NYSE: PLT) today announced second quarter fiscal year 2017 financial results. Highlights of the second quarter include the following (comparisons are against the second quarter of fiscal year 2016);

Net revenues were $216.2 million, an increase of 0.5% compared with $215.0 million, and within our guidance range of $215 million to $225 millionGAAP gross margin was 51.1% compared with 51.6%Non-GAAP gross margin was 51.4% compared with 52.0%GAAP operating income was $32.0 million compared with $34.1 millionNon-GAAP operating income was... More