Plantronics, Inc. (PLT) (Poly) reported earnings on Thur 13 May 21 (a/h)

Mar 28, 2022: Poly was acquired by HP in an all-cash deal worth $3.3 billion including debt. 

 

** charts before earnings **

 

** charts after earnings **

 

Poly to change ticker symbol to "POLY", effective May 24

• Poly announced that its ticker symbol on the NYSE will change to "POLY" at the open of market trading on May 24. Poly, formerly Plantronics and Polycom, has traded under the ticker "PLT" since Plantronics' initial public offering in 1994.

Poly beats by $0.30, beats on revs; guides Q1 EPS below consensus, revs below consensus

Reports Q4 (Mar) earnings of $1.23 per share, excluding non-recurring items, $0.30 better than the S&P Capital IQ Consensus of $0.93; revenues rose 16.9% year/year to $478 mln vs the $454.93 mln S&P Capital IQ Consensus.

The global semiconductor chip shortage has impacted companies worldwide and we expect we will continue to experience ongoing tightness in our supply chain. End market demand remains strong for Video and Headsets, while Voice demand is recovering. However, the Company's ability to execute on this demand is subject to availability of certain components. Absent supply shortages, we believe demand would support sequential revenue growth off the March quarter. 

Co issues downside guidance for Q1, sees EPS of $0.35-0.55, excluding non-recurring items, vs. $0.79 S&P Capital IQ Consensus; Based on current supply and expected availability of specific components, the Company expects Q1 revs of $410-430 mln vs. $438.76 mln S&P Capital IQ Consensus.