Plantronics Earnings: Here’s Why Shares are Up Now
Plantronics, Inc. (NYSE:PLT) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.11%.
Plantronics, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 14.52% to $0.71 in the quarter versus EPS of $0.62 in the year-earlier quarter.
Revenue: Rose 14.98% to $204.18 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Plantronics, Inc. reported adjusted EPS income of $0.71 per share. By that measure, the company beat the mean analyst estimate of $0.70. It beat the average revenue estimate of $192.07 million.
Quoting Management: “Our fiscal year revenues and earnings per share set records as we experienced continued growth in the Unified Communications (“UC”) market throughout the year. In the fourth quarter we experienced strong demand from China for Bluetooth headsets as a result of their recent enforcement of their previously enacted hands-free driving law, and some rebound in the global economy,” said Ken Kannappan, President & CEO (currently on a temporary medical leave). “Unified Communications (“UC”) momentum continues to build and it remains our largest growth opportunity.”
Key Stats (on next page)…
Revenue increased 3.43% from $197.4 million in the previous quarter. EPS decreased 2.74% from $0.73 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.71 to a profit $0.72. For the current year, the average estimate has moved up from a profit of $2.73 to a profit of $2.77 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)