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Poly (NYSE: PLT) has achieved a significant milestone by selling its 30 millionth IP phone, reflecting over 20 years of expertise in high-quality audio solutions. The company noted a shift from traditional phone systems to cloud-based services, accelerated by the global pandemic. Poly's offerings include advanced technologies like HD Voice and NoiseBlock AI, along with the innovative Rove DECT IP phone, featuring built-in Microban antimicrobial protection. With collaborations across more than 60 platforms, Poly continues to support businesses in adapting to evolving communication needs.
Poly (NYSE:PLT) announced its collaboration with Télécom Paris to enhance digital transformation by implementing unified communications solutions across its campus. The initiative connects 600 staff and 1,350 students, facilitating hybrid learning environments amid ongoing pandemic challenges. Poly's technology including Group 500 and Group 700 systems enhances remote collaboration and education delivery, ensuring interoperability with existing infrastructure. As a result, Télécom Paris can provide effective learning experiences and maintain educational continuity through both onsite and remote methods.
Poly (NYSE: PLT) announced a private offering of $500 million in 4.750% senior notes due 2029, set to close around March 4, 2021. The proceeds will fund the full redemption of existing 5.50% senior notes due 2023 and cover associated fees. Any excess proceeds will be used for general corporate purposes. The 2029 notes will be guaranteed by certain subsidiaries and are offered under Rule 144A and Regulation S, not registered under the Securities Act. This move aims to improve Poly's financial structure amid market challenges.
Poly (NYSE: PLT) has announced its participation in the upcoming Morgan Stanley Technology, Media and Telecom Conference on March 2, 2021, at 8:45 am PT. Chuck Boynton, Executive Vice President & CFO, will engage in a fireside chat accessible via a live audio webcast on the Poly Investor Relations website. This conference presents a platform for Poly to discuss its premium audio and video products designed for seamless connectivity, enhancing business meetings across various environments.
Poly (NYSE: PLT) has launched the Savi 7300 Office Series, an advanced wireless headset line designed for secure, high-quality communication in crowded environments. It features DECT™ security and 256-bit AES encryption, ensuring privacy and compliance for sensitive industries like finance and healthcare. The series boasts Acoustic Fence technology to minimize background noise and is certified for Microsoft Teams. Available now on Poly.com, this launch addresses increasing demands for enhanced privacy in workplaces.
Poly (NYSE: PLT) announced plans to offer $500 million in senior notes due 2029. The offering aims to fund the complete redemption of its outstanding 5.50% Senior Notes due 2023 and cover associated fees. The 2029 Notes, guaranteed by the company's subsidiaries, will not be registered under the Securities Act and will be offered to qualified institutional buyers. Proceeds exceeding the redemption amount will be used for general corporate purposes, including repaying secured loans. The potential risks include challenges related to sourcing components and demand fluctuations due to COVID-19.
Poly (NYSE: PLT) announced equity awards granted to Grant Hoffman, appointed as Executive Vice President and Chief Supply Chain Officer on January 28, 2021. The awards include 7,200 restricted stock units (RSUs) vesting annually and 16,800 performance stock units (PSUs) linked to the company's fiscal year 2021 performance. These inducement awards were approved by the Leadership Development and Compensation Committee under the NYSE's employment inducement exemption, requiring public announcement. The grants aim to align Hoffman's incentives with the company's performance.
Poly (NYSE: PLT) has launched the new Poly Rove DECT IP phone, the first to feature built-in Microban antimicrobial protection, offering a 99% cleaner surface. This collaboration aims to enhance safety in high-touch environments such as healthcare and retail, as the phones inhibit bacterial growth for their lifespan. The Poly Rove phones are ruggedized, IP65-rated for dust and water resistance, and support up to 1,000 handsets. The technology promises to maintain audio quality with HD voice and noise suppression, appealing to businesses prioritizing employee safety.
Poly (NYSE: PLT) reported Q3 FY21 results, achieving record revenues in Professional Headset and Video categories, with unit shipments more than doubling year-over-year. The company's GAAP revenue reached $485 million, exceeding guidance. Non-GAAP diluted EPS was $1.47, significantly up from $0.30 YoY. Poly's cash flow from operations was positive at $31 million, while the firm also retired $12 million in debt, enhancing its cash position to $245 million. The release highlighted new product launches including the Poly Studio P Series and the Poly Lens Desktop App, indicating robust growth in demand for remote work solutions.
Poly (NYSE: PLT) unveiled the Poly Studio P Series, innovative personal video conferencing solutions tailored for remote workers. The series features the Poly Studio P5 Webcam, P15 Personal Video Bar, and P21 Personal Meeting Display, all designed for high-quality audio and video performance. Enhanced by Poly Lens Desktop App for device management and Poly+, a premium support service, these tools aim to ensure seamless communication in a hybrid working environment. Products will be available in April 2021, with the P15 already available for pre-order.
