Plantronics Earnings: Here’s Why Investors are Selling Shares Now
Plantronics, Inc. (NYSE:PLT) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 1.29%.
Plantronics, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 11.11% to $0.70 in the quarter versus EPS of $0.63 in the year-earlier quarter.
Revenue: Rose 11.82% to $202.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Plantronics, Inc. reported adjusted EPS income of $0.70 per share. By that measure, the company missed the mean analyst estimate of $0.71. It beat the average revenue estimate of $201.4 million.
Quoting Management: “We generated approximately $34 million in cash flow from operations in the first quarter of fiscal year 2014, and grew our cash, cash equivalents and short and long term investments position to approximately $444 million,” said Pam Strayer, Acting Chief Executive Officer, Senior Vice President and Chief Financial Officer.
Key Stats (on next page)…