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Poly (NYSE: PLT) announced it will release its fiscal second quarter 2021 financial results on October 29, 2020, after market close. A conference call will follow at 2 PM Pacific / 5 PM Eastern to discuss the results. Investors can access the call via Poly's Investor Relations website. Poly is a global communications company specializing in audio and video conferencing solutions, dedicated to enhancing human connection and collaboration.
Plantronics, Inc. (NYSE: PLT) announced on September 14, 2020 the granting of equity awards to its new President and CEO, David Shull, effective October 15, 2020. The awards include 75,000 restricted stock units (RSUs) vesting over three years and 250,000 performance stock units (PSUs) tied to the company's stockholder return compared to an index over the fiscal years 2021-2023. These inducement awards were approved under NYSE rules and aim to incentivize Mr. Shull's leadership.
Plantronics, Inc. (Poly) will participate in Citi's 2020 Global Technology Conference on September 8, 2020. The event will feature Executive Vice President & CFO Chuck Boynton speaking in a virtual format at 6:50 am PT / 9:50 am ET. Investors can access a live audio webcast through the Poly Investor Relations website, with a replay available shortly after the session. Poly is known for its audio and video conferencing solutions, facilitating effective communication worldwide.
On August 27, 2020, Poly (NYSE: PLT) announced that Siris Capital sold approximately 4.1 million shares, about 57% of its stake, representing 10% of Poly's outstanding shares. This move allows Siris to realize returns on its 2016 investment in Polycom. Following this sale, Siris co-founder Frank Baker resigned from Poly's board, but Dan Moloney remains. The new CEO, Dave Shull, is expected to drive growth in the unified communications sector, bolstered by Siris' continued board presence. Poly remains focused on providing innovative communication solutions globally.
Plantronics, Inc. (NYSE: PLT) announced the appointment of Dave Shull as President and CEO, effective September 8, 2020. Shull takes over from Robert Hagerty, who served as Interim CEO since February 2020 and will remain as Chairman. With over 15 years of leadership experience, Shull aims to leverage Poly's strong technology presence amid the ongoing COVID-19 pandemic, emphasizing the shift towards remote work and evolving market demands. The company anticipates significant growth opportunities as it continues to innovate in audio and video communication solutions.
Kaskela Law LLC is investigating Plantronics, Inc. (NYSE: PLT) on behalf of its stockholders regarding potential violations of securities laws and breaches of fiduciary duties by the board of directors. This investigation pertains to stockholders who acquired shares before August 7, 2018. A securities fraud complaint has also been filed, alleging that the company engaged in a channel stuffing scheme to mislead investors about the success of its acquisition of Polycom, Inc. These actions purportedly led to significant financial setbacks and market capitalization losses for investors.
Plantronics, Inc. (NYSE: PLT), known as Poly, reported first quarter results for FY21, revealing GAAP revenue of $356 million, down from $448 million YOY. GAAP gross margin also declined to 43.9% from 47.5%. The company experienced an operating loss of $57 million compared to a $29 million loss last year, resulting in a GAAP diluted EPS of ($1.85). Non-GAAP revenue was $361 million, and non-GAAP diluted EPS was $0.33. Poly is facing supply chain challenges but has significant cash reserves of $263 million. A quarterly dividend has been suspended.
SANTA CRUZ, Calif., July 22, 2020 /PRNewswire/ -- Poly (NYSE: PLT) released a report highlighting the shift to hybrid working due to COVID-19. The report, titled Hybrid Working: Creating the 'next normal' in work practices, spaces and culture, emphasizes flexibility and collaboration in new work environments. Key findings suggest new working patterns, outcome-based focus, and investments in technology-enabled personal workspaces. The report outlines emerging trends, including prioritization of home offices and co-working spaces, as well as the importance of cultural inclusivity and purpose-driven practices.
On July 16, 2020, Poly (NYSE: PLT) announced it now offers the largest selection of Microsoft Teams certified headsets, with over twenty models available. This makes Poly the leader in providing complete solutions for Teams integration, essential as remote work becomes commonplace. Poly has sold nearly 17 million Microsoft-compatible devices in the last three years, highlighting increasing demand for certified technology. The company emphasizes flexibility and quality in its offerings, which include the latest models like the Blackwire 8225.
Plantronics, Inc. ("Poly" - NYSE: PLT) announced that it will release its fiscal first quarter 2021 financial results after the market closes on July 28, 2020. A conference call to discuss these results will occur at 2 PM Pacific / 5 PM Eastern the same day, accessible via the company's Investor Relations website.
Poly is a global communications company known for enhancing human connection and collaboration through its audio and video conferencing solutions, utilized worldwide.
