April 16, 2008, 5:16 pm
Polycom Slips As Q1 Revs Come In Light
Posted by Eric Savitz
Polycom (PLCM) reported first quarter revenue of $258.9 million and non-GAAP EPS of 36 cents. The Street had expected $261.8 million and 36 cents.
The company bought back $60 million of its stock in the first quarter, leaving $80 million to go on its existing repurchase authorization.
In after hours trade, PLCM is off $1.18, or 5.2%, at $21.35; the stock rose 42 cents in the regular session.
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Tech Trader Daily is a blog on technology investing written from Palo Alto, California by long-time Barron's West Coast Editor Eric J. Savitz. The blog provides news, analysis and original reporting on events important to investors in software, hardware, the Internet, telecommunications and related fields.
