Polycom Q1 Profit Matches Estimates - Quick Facts

(RTTNews) - Polycom Inc. (PLCM) reported adjusted net income of $25.7 million or $0.19 per share for the first quarter of 2016. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.19 for the quarter. Analysts' estimates typically exclude special items. The company reported that its first-quarter net income decreased to $3.3 million or $0.02 per share from $21.2 million or $0.15 per share, last year.

Total revenues decreased year-over-year to $290.07 million from $330.70 million, last year. Analysts expected revenue of $301.40 million for the quarter.

Peter Leav, CEO, said: "We were pleased with the performance of our new solutions, particularly Polycom RealPresence Trio, which exceeded our expectations again this quarter."