SANTA CRUZ, Calif., Aug. 6, 2019 /PRNewswire/ — Plantronics, Inc. (NYSE: PLT) (“Poly”) today announced first quarter fiscal year 2020 results for the period ending June 30, 2019. Highlights of the first quarter include the following:
“We delivered solid bottom-line results in the quarter despite encountering several top-line challenges,” said Joe Burton, President and Chief Executive Officer. “Poly Studio continues to ramp ahead of plan as we push into the fast-growing Huddle Room market. Additionally, with the launch of the G7500, the first release in our next-gen video suite for medium and large conference rooms, we are excited about our long-term growth prospects.”
“Through cost synergies and expense management we improved operating cash flow sequentially while making significant progress on our integration and restructuring efforts,” said Chuck Boynton, Executive Vice President and Chief Financial Officer. “We expect operating cash flow to accelerate throughout the balance of the year and remain on track to meet our 3x leverage target by fiscal year end.”
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