Poly Announces Fourth Quarter and Fiscal Year 2019 Financial Results

( Published on May 8, 2019 )

SANTA CRUZ, Calif., – May 7, 2019 – Plantronics, Inc. (NYSE: PLT) (“Poly”) today announced fourth quarter and full fiscal year 2019 results for the period ending March 31, 2019. Highlights of the fourth quarter and full fiscal year include the following:

  • Plantronics and Polycom relaunch as Poly, a global technology company that powers meaningful human connection and collaboration. Poly combines legendary audio expertise and powerful video and conferencing capabilities to overcome the distractions, complexity and distance that make communication in and out of the workplace challenging.
  • Poly and Google Cloud announced a new strategic alliance making Poly VVX x50 phones the first desktop phones certified for Google Voice for G Suite.
  • Poly announced Trio integration with two Amazon Web Services solutions, Amazon Alexa for Business and Chime, and also announced Voyager 4200 UC headset integration with the Amazon Alexa app.
  • The Company expanded partnerships with both Zoom and GoToMeeting with integrations across multiple products.
  • The Company revealed the upcoming Poly CCX Series desk phones offering native Microsoft Teams integration.
  • Poly Studio won Best of Enterprise Connect for Best Communications and Collaboration Device.
  • The Company’s achieved its second consecutive quarter with trailing twelve month EBITDA of over $400 million.
  • The Company completed its previously announced debt repayment of $100 million on its outstanding Term Loan B and ended fiscal year 2019 with a net debt to Adjusted EBITDA ratio of 3.6x. In addition, during the fourth fiscal quarter the Company repurchased approximately 233 thousand shares at an average price of $36.02.
  • As of today, the Company has achieved a total of $73 million in annual run-rate synergy capture. Through subsequent actions, the Company expects to capture an additional $12 million by June 30, 2019, for a total of $85 million since the close of the Polycom acquisition.
  • In an effort to align its strategy and focus on its core enterprise markets, the Company announced that it intends to evaluate strategic alternatives for its Consumer business. The Company has not yet determined timing, structure, or financial impact of any potential transaction. […]

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