Plantronics Q1 Resuts Top Estimates

(RTTNews) - Plantronics, Inc. (PLT) reported net income for the first quarter of $21.2 million or $0.55 per share, compared to $28.7 million or $0.68 per share for the year-ago quarter.

Excluding items, adjusted net income for the first quarter was $26.0 million or $0.67 per share, compared to $33.0 million or $0.78 per share in the prior year quarter.

Net revenues for the first quarter fell 4.8% to $206.36 million from $216.66 million a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $0.59 per share on revenue of $205.59 million for the first quarter. Analysts' estimates typically exclude special items.

Looking forward to the second quarter, the company forecasts net revenues of $202 million to $212 million, earnings of $0.39 to $0.47 per share and adjusted earnings of $0.58 to $0.66 per share. Analysts currently expect the company to earn $0.60 per share on revenue of $208.49 million for the second quarter.