Poly Announces First Quarter Fiscal Year 2021 Financial Results

Poly Announces New Zoom Certified Appliances

SANTA CRUZ, Calif., – July 28, 2020 – Plantronics, Inc. (NYSE: PLT) (“Poly” or the “Company”) today announced first quarter results for the period ending June 27, 2020. Preliminary highlights of the first quarter include the following:

($ Millions, except percent and per-share data)1 Q1 FY21 Q1 FY20 GAAP Revenue $356 $448 GAAP Gross Margin 43.9% 47.5% GAAP Operating Loss ($57) ($29) GAAP Diluted EPS ($1.85) ($1.14) Cash Flow from Operations $42 $8

Non-GAAP Revenue $361 $460 Non-GAAP Gross Margin 50.0% 55.8% Non-GAAP Operating Income $37 $86 Non-GAAP Diluted EPS $0.33 $1.32 Adjusted EBITDA $48 $98

“We are working aggressively to fulfill elevated headset demand driven by the hybrid working trend as we navigate product shifts and supply chain challenges,” said Robert Hagerty, Chairman of the Poly Board of Directors and Interim Chief Executive Officer. “We continue to make progress on the transformation necessary to achieve the objectives of the integrated company and return to profitable growth.” […]