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345 Encinal St,
Santa Cruz, CA 95060
United States
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Polycom Announces Preliminary Financial Results for Q1 2012
Posted on Thursday, April 5, 2012
Polycom Announces Preliminary Financial Results for Q1 2012

PLEASANTON, Calif. - Apr 05, 2012 : Polycom, Inc. (NASDAQ: PLCM), the global leader in open standards-based unified communications (UC), today announced preliminary financial results for the first quarter of 2012.

The Company expects to report net revenues for the quarter ended March 31, 2012, in the range of $364 million to $370 million, compared with net revenues of $344 million in the first quarter of 2011.
 
“We estimate that we grew quarterly revenues approximately 7 percent year-over-year, with each region recording increases. However, the growth rate was below our overall expectations, driven primarily by shortfalls in Asia Pacific and North America,” said Andrew Miller, President and CEO. “Polycom’s current operating model assumes a higher level of revenue growth, and we will analyze our assumptions between now and our regularly scheduled call on April 18th.”
 
The Company expects to report earnings per diluted share for the first quarter of 2012 in the range of $0.07 to $0.09 on a GAAP basis, compared with $0.19 per diluted share on a GAAP basis in the first quarter of 2011, and between $0.21 to $0.23 on a non-GAAP basis, compared with $0.24 on a non-GAAP basis per diluted share for the comparable period last year. The reconciliation of the preliminary range of GAAP net income per diluted share to the preliminary range of non-GAAP net income per diluted share for the three months ended March 31, 2012, and the reconciliation of GAAP net income per diluted share to non-GAAP net income per diluted share for the three months ended March 31, 2011, is provided at the end of this press release.
 
By region, the Company’s preliminary quarterly revenue results are:
  • Americas growth of 1 to 3 percent year-over-year
  • Europe, Middle East, and Africa growth of 15 to 17 percent year-over-year
  • Asia Pacific growth of 5 to 8 percent year-over-year
By product line, the Company’s preliminary quarterly revenue results are:
  • UC Group Systems up 4 to 6 percent year-over-year
  • UC Personal Devices up 7 to 9 percent year-over-year
  • Network Infrastructure up 11 to 14 percent year-over-year
These preliminary results are based on management’s initial analysis of operations for the quarter ended March 31, 2012. Polycom will announce the final results for the first quarter on April 18, 2012.

Preliminary First Quarter 2012 Financial Results Conference Call
Polycom will hold a brief conference call today at 8:00 a.m. ET/5:00 a.m. PT to discuss its preliminary first quarter financial results. Andrew Miller, President and CEO, and Eric Brown, Chief Operating Officer and Chief Financial Officer, will host the call. There will not be a question and answer session after the call. For callers in the U.S. and Canada, you may participate by calling 800.268.5851 and for callers outside of the U.S. and Canada, by calling 303.223.2681. The pass code for the call is “Polycom”. A replay of the call will also be available through April 18, 2012 at www.polycom.com or, for callers in the U.S. and Canada, at 800.633.8284 and for callers outside of the U.S. and Canada, at 402.977.9140. The access number for the replay is 21587857.
 
First Quarter 2012 Financial Results Conference Call 
The Company will announce its final results for the first quarter after the market close on April 18, 2012. Polycom will hold a conference call at 5:00 p.m. ET/2:00 p.m. PT to discuss its first quarter financial results. Andrew Miller, President and CEO, and Eric Brown, Chief Operating Officer and Chief Financial Officer, will host the call. For callers in the U.S. and Canada, you may participate by calling 800.736.7549 and for callers outside of the U.S. and Canada, by calling 212.231.2916. The pass code for the live call is “Polycom”. A replay of the call will also be available at www.polycom.com or, for callers in the U.S. and Canada, at 800.633.8284 and for callers outside of the U.S. and Canada, at 402.977.9140. The access number for the replay is 21583526.
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Douglas Fearing- Co-Founder / President

A graduate of DeVry Institute of Technology, Doug has been in the Technology industry since 1976 and actively oversees Fearing’s daily operations. Along with his wife, Lois, and three others, Doug started Fearing’s in a 600 square-foot facility in Portage, Wisconsin. In the 25 years since, the company has grown to over 30 employees with offices in Madison and Milwaukee, Wisconsin. Doug likes to say he’s a “TV Technician with a dream� going back to his history with the family’s original business-Fearing’s TV and Appliance.

Doug values time with family, watersports, hiking, snowshoeing and skiing. In addition to being a devoted member of his church, Doug serves as Board President for Kinship Mentoring of Columbia County, Board member of Schools for Haiti and Scripture Chair of the Gideons-Portage camp.

Lois Fearing- Co-Founder/Accounting, Human Resources

A graduate of MATC, Lois oversees Fearing’s daily book keeping along with various HR responsibilities.

Along with Doug, Lois is deeply connected to community outreach, serving as a Board member and Fundraising Committee Chairperson for Kinship Mentoring of Columbia County. She also serves on the Schools for Haiti Fundraising committee. In addition, Lois’ ongoing passion and commitment to provide care for the elderly comes from her 10-year history of working in a Reedsburg, Wisconsin Nursing home.

Lois enjoys singing, hiking, sunny days on the pontoon, and spending time with her 4 grandchildren.

Ehren Tresner-VP of Technology and Innovation

Ehren drives Fearing’s technology by continually seeking out trends to enhance capabilities while supporting Sales, Engineering and Installation teams. Throughout his years with Fearing’s, Ehren’s talent and vision have joined forces to create a wide variety of projects and strategic solutions that exceed expectation.

Ehren loves music, family time, movies, nature, sustainability efforts and electric vehicles.

Ben Voeck-Director of Commercial AV

With 10 years with Fearing’s and over twice that long in the industry, Ben continues to lead, coordinate, and develop the Commercial AV team.

By consistently delivering an outstanding experience and outcome, Ben contributes to the Fearing’s legacy of long-lasting partnerships that truly make a difference. Whatever the Commercial AV need may be, Ben and team deliver at the highest level.

Ben is an avid fisherman and photographer. He enjoys coaching his sons and other youth.

Chris Matson-Senior VP of Sales

Chris has been with Fearing’s for 20 years and in the industry for over 2 decades. As a Certified leader in Sales Acceleration and trained in EOS (Entrepreneurial Operating Systems), Chris successfully utilizes his skills to lead the Fearing’s Salesforce. Chris and team are motivated and driven to develop new client partnerships while continuing to reinforce loyal long-term relationships with ongoing Service excellence.

Married for 19 years with 3 children, Chris enjoys skiing, hiking, fishing, boating, hunting, camping and golf. He’s also been actively involved as a Youth Football and Softball coach for his family and others.