Polycom, Inc. (PLCM: Quote), a leader in open standards-based unified communication and collaboration, Wednesday reported a decline in profit for the fourth quarter ended December 31, 2012.
Net profit was $2.0 million compared with $50.0 million in the same period last year. On a per share basis, profit was $0.01 compared with $0.28 prior year. Total revenues decreased to $353.39 million from $386.27 million last year.
Operating expenses for the quarter totaled $202.28 million, up from $194.55 million in the prior year.
Adjusted net income for the quarter was $31.0 million or $0.17 per share. Analysts polled by Thomson Reuters expected the company to report profit of $0.15 per share on revenue of $350.83 million for the quarter. Analysts’ estimates typically exclude special items.
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by RTT Staff Writer
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