|
Polycom Reports Fourth Quarter and Fiscal Year 2007 Earnings
(Market Wire Via Thomson Dialog NewsEdge) PLEASANTON, CA, January 23 / MARKET WIRE/ --
Polycom, Inc. (NASDAQ: PLCM), the world's
leading provider of unified collaborative communications solutions, today
reported its earnings for the fourth quarter and fiscal year ended Dec. 31,
2007.
Fourth quarter 2007 consolidated net revenues were $263.3 million, compared
to $186.5 million for the fourth quarter of 2006. SpectraLink contributed
$37.2 million to net revenues for the fourth quarter of 2007. As
previously reported, Polycom's acquisition of SpectraLink was completed on
March 26, 2007. Non-GAAP net income in the fourth quarter of 2007 was
$38.5 million, or 42 cents per diluted share. This compares to Non-GAAP net
income of $32.0 million, or 35 cents per diluted share, for the fourth
quarter of 2006. GAAP net income for the fourth quarter of 2007 was $22.8
million, or 25 cents per diluted share, compared to $25.8 million, or 28
cents per diluted share, for the same period last year.
For the year ended Dec. 31, 2007, net revenues were $929.9 million,
compared to $682.4 million for the year ended Dec. 31, 2006. SpectraLink
contributed $113.5 million to net revenues for the year ended Dec. 31,
2007. Non-GAAP net income for the year ended Dec. 31, 2007 was $128.9
million, or $1.37 per diluted share, compared to $98.1 million, or $1.09
per diluted share, for the comparable period of 2006. GAAP net income for
the year ended Dec. 31, 2007 was $62.9 million, or 67 cents per diluted
share, compared to GAAP net income of $71.9 million, or 80 cents per
diluted share, for the same period last year.
The reconciliation between GAAP net income and Non-GAAP net income is
provided in the tables entitled "GAAP to Non-GAAP Reconciliation" in this
release.
On a product line basis, consolidated net revenues for the fourth quarter
of 2007 were comprised of:
-- 63 percent video solutions, or $164.9 million (49 percent video
communications, or $129.2 million, and 14 percent network systems, or $35.7
million); and
-- 37 percent voice communications, or $98.4 million.
This compares to the fourth quarter of 2006, in which consolidated net
revenues were comprised of:
-- 72 percent video solutions, or $134.1 million (55 percent video
communications, or $103.0 million, and 17 percent network systems, or $31.1
million); and
-- 28 percent voice communications, or $52.4 million.
"Unprecedented demand for Polycom's IP-based collaboration solution drove
us to well over the $1 billion revenue run-rate for the first time in Q4,"
said Robert Hagerty, chairman and CEO. "Video collaboration has clearly
emerged as a top priority due to its immediate cost savings benefits and
rapid return on investment. At the same time, Polycom's HD quality,
telepresence, and 'plug and play' IP connectivity are delivering an amazing
customer experience. Polycom's leading HD video and voice over IP
solutions are enabling this growth for our company worldwide."
Hagerty continued, "Our strategic partnerships with Avaya, Nortel, Cisco,
and others are adding fuel to our business opportunities. In fact,
revenues from our new VoIP relationship with Microsoft that we launched in
October and our recent voice launch with 3COM provide yet another engine
for revenue growth in 2008. These meaningful partnerships, coupled with
strong execution from our sales and service teams, are driving increased
traction and expansion on a global basis."
"2008 promises to be an exciting year for Polycom. Our HD video, voice, and
content collaboration solutions solve real business problems across a broad
range of industries. Adopting our solution yields fast returns and
increases a customer's agility and cohesiveness -- and facilitates
'greener' corporate policies -- yet another critical driver in many
geographies. The employees and partners of Polycom are ready to fulfill
the growing demand of this market."
"We delivered strong operating results in the fourth quarter, including
record revenues of $263.3 million and $55.8 million in operating cash
flow," said Michael Kourey, senior vice president, finance and
administration, and CFO. "In concert with these operating results, backlog
and deferred revenues also grew to record levels. During the fourth
quarter, we purchased $50 million in Polycom stock, exiting the quarter
with a remaining $140 million authorization under the current share
repurchase program."
About Polycom
Polycom, Inc. is the worldwide leader in unified collaborative
communications (UCC) that maximize the efficiency and productivity of
people and organizations by integrating the broadest array of high
definition video, wired and wireless voice, and content solutions to
deliver the ultimate collaborative experience. Polycom's high quality,
standards-based conferencing and collaboration solutions are easy to deploy
and manage, as well as intuitive to use. Supported by an open
architecture, they integrate seamlessly with leading telephony, workplace
wireless telephony, and presence-based networks. With its market-driving
technologies, best-in-class products, alliance partnerships, and
world-class service, Polycom is the smart choice for organizations seeking
proven solutions and a competitive advantage from on-demand communications
and collaboration. For additional information, call 800-POLYCOM or visit
the Polycom web site at www.polycom.com.
This release contains forward-looking statements within the meaning of the
"safe harbor" provisions of the Private Securities Litigation Reform Act of
1995 regarding future events, future demand for our products, and the
future performance of the Company, including statements regarding the
anticipated contributions of Polycom's HD video and voice over IP solutions
to Polycom's future growth, the impact that our strategic and other
partnerships, including our new VoIP relationship with Microsoft and the
other partnerships highlighted in this release, and our recent voice launch
with 3COM, will have on Polycom's future revenues, the anticipated growing
market demand for collaboration solutions in 2008 and Polycom's ability to
address such demand through its product offerings and solutions, and the
ability of our sales and services teams to execute effectively in future
periods. These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially, including
the impact of competition on our product sales and for our customers and
partners, the effectiveness of our SpectraLink integration efforts,
potential fluctuations in results and future growth rates, the market
acceptance of Polycom's products and changing market demands, including
demands for differing technologies or product and services offerings,
possible delays in the development, availability and shipment of new
products, increasing costs and differing uses of capital, changes in key
personnel, the impact of global conflicts such as those in the Middle East,
and risks associated with general economic conditions, including current
negative macroeconomic indicators that may adversely impact our business.
Many of these risks and uncertainties are discussed in the Company's
Quarterly Report on Form 10-Q for the quarter ended Sept. 30, 2007, and in
other reports filed by Polycom with the SEC. Polycom disclaims any intent
or obligations to update these forward-looking statements.
As has been noted on the Company's web site since Jan. 14, 2008, Polycom
will hold a conference call today, Jan. 23, 2008, at 5:00 p.m. ET/2:00 p.m.
PT to discuss its fourth quarter earnings. Robert Hagerty, chairman,
president and CEO, and Michael Kourey, chief financial officer, will host
the conference. You may participate by viewing the webcast at
www.polycom.com or, for callers in the US and Canada, by calling
800.935.5014; and for callers outside of the US and Canada, by calling
212.231.2900, with the pass code being Polycom. A replay of the call will
also be available at www.polycom.com or, for callers in the US and Canada,
at 800.633.8284; and for callers outside of the US and Canada, at
402.977.9140. The access number for the replay is 21370996. A replay of
the call will also be maintained on our website for twelve months at
www.polycom.com under Investor Relations - Financial Summaries - Financial
Results Archives.
Polycom reserves the right to modify future product plans at any time.
Products and/or related specifications referenced in this press release are
not guaranteed, and will be delivered on a when and if available basis.
Polycom, the Polycom logo, SpectraLink, and the SpectraLink logo are
registered trademarks of Polycom in the U.S. and various countries.
?2008, Polycom, Inc. All rights reserved.
POLYCOM, INC.
Non-GAAP Condensed Consolidated Statements of Operations
Excluding Stock-based compensation expense, Effect of stock-based
compensation expense on warranty rates, Impact to cost of sales from
purchase accounting adjustments to inventory, Acquisition-related costs,
Purchased in-process research and development costs, Amortization and
impairment of purchased intangibles, Restructuring costs, Litigation
reserves and payments, Gain (loss) on strategic investments, and Income tax
effect of the preceding adjustments
(In thousands, except per share amounts)
(Unaudited)
Three Months Ended Twelve Months Ended
-------------------- --------------------
December December December December
31, 31, 31, 31,
2007 2006 2007 2006
--------- ---------- --------- ----------
Revenues:
Product revenues $ 228,129 $ 164,784 $ 806,482 $ 600,703
Service revenues 35,162 21,725 123,426 81,682
--------- ---------- --------- ----------
Total revenues 263,291 186,509 929,908 682,385
--------- ---------- --------- ----------
Cost of revenues:
Cost of product revenues 88,348 59,837 306,139 216,932
Cost of service revenues 16,289 10,973 58,239 41,380
--------- ---------- --------- ----------
Total cost of revenues 104,637 70,810 364,378 258,312
--------- ---------- --------- ----------
Gross profit 158,654 115,699 565,530 424,073
--------- ---------- --------- ----------
Operating expenses:
Sales and marketing 64,572 43,188 229,845 163,060
Research and development 32,624 27,585 126,529 107,020
General and administrative 13,344 10,287 50,516 39,409
--------- ---------- --------- ----------
Total operating
expenses 110,540 81,060 406,890 309,489
--------- ---------- --------- ----------
Operating income 48,114 34,639 158,640 114,584
Interest income, net 3,859 7,022 18,646 21,164
Other income (expense), net (389) 139 (738) 540
--------- ---------- --------- ----------
Income before provision for
income taxes 51,584 41,800 176,548 136,288
Provision for income taxes 13,044 9,815 47,668 38,161
--------- ---------- --------- ----------
Non-GAAP net income $ 38,540 $ 31,985 $ 128,880 $ 98,127
========= ========== ========= ==========
Basic net income per share $ 0.43 $ 0.36 $ 1.42 $ 1.11
========= ========== ========= ==========
Diluted net income per share $ 0.42 $ 0.35 $ 1.37 $ 1.09
========= ========== ========= ==========
Weighted average shares
outstanding for basic
net income per share 89,839 89,397 90,878 88,419
========= ========== ========= ==========
Weighted average shares
outstanding for diluted
net income per share 92,521 91,880 94,391 90,373
========= ========== ========= ==========
Use of Non-GAAP Financial Information
To supplement our consolidated financial statements presented on a
GAAP basis, Polycom uses non-GAAP measures of operating results, net
income and income per share, which are adjusted to exclude certain
costs, expenses, gains and losses we believe appropriate to enhance an
overall understanding of our past financial performance and also our
prospects for the future. These adjustments to our current period GAAP
results are made with the intent of providing both management and
investors a more complete understanding of Polycom's underlying
operational results and trends and our marketplace performance. For
example, the non-GAAP results are an indication of our baseline
performance before gains, losses or other charges that are considered
by management to be outside of our core operating results. In
addition, these adjusted non-GAAP results are among the primary
indicators management uses as a basis for our planning and forecasting
of future periods. The presentation of this additional information is
not meant to be considered in isolation or as a substitute for net
income or diluted net income per share prepared in accordance with
generally accepted accounting principles in the United States.
POLYCOM, INC.
Condensed Consolidated Statements of Operations
(In thousands, except per share amounts)
(Unaudited)
Three Months Ended Twelve Months Ended
-------------------- --------------------
December December December December
31, 31, 31, 31,
2007 2006 2007 2006
--------- ---------- --------- ----------
Revenues:
Product revenues $ 228,129 $ 164,784 $ 806,482 $ 600,703
Service revenues 35,162 21,725 123,426 81,682
--------- ---------- --------- ----------
Total revenues 263,291 186,509 929,908 682,385
--------- ---------- --------- ----------
Cost of revenues:
Cost of product revenues 92,614 60,211 322,988 218,810
Cost of service revenues 17,216 11,394 61,599 43,114
--------- ---------- --------- ----------
Total cost of revenues 109,830 71,605 384,587 261,924
--------- ---------- --------- ----------
Gross profit 153,461 114,904 545,321 420,461
--------- ---------- --------- ----------
Operating expenses:
Sales and marketing 68,073 44,980 242,510 169,828
Research and development 36,072 29,357 139,011 114,331
General and administrative 16,113 11,717 60,994 45,410
Acquisition-related costs 1,118 24 4,258 161
Purchased in-process
research and development - - 9,400 -
Amortization and
impairment of purchased
intangibles 5,323 2,812 11,546 7,452
Restructuring costs 197 543 410 2,410
--------- ---------- --------- ----------
Total operating
expenses 126,896 89,433 468,129 339,592
--------- ---------- --------- ----------
Operating income 26,565 25,471 77,192 80,869
Interest income, net 3,859 7,022 18,646 21,164
Gain (loss) on strategic
investments - 176 (7,400) 176
Other income (expense), net (389) 139 (738) 540
--------- ---------- --------- ----------
Income before provision from
income taxes 30,035 32,808 87,700 102,749
Provision for income taxes 7,234 7,045 24,819 30,825
--------- ---------- --------- ----------
Net income $ 22,801 $ 25,763 $ 62,881 $ 71,924
========= ========== ========= ==========
--------- ---------- --------- ----------
Basic net income per share $ 0.25 $ 0.29 $ 0.69 $ 0.81
========= ========== ========= ==========
--------- ---------- --------- ----------
Diluted net income per share $ 0.25 $ 0.28 $ 0.67 $ 0.80
========= ========== ========= ==========
Weighted average shares
outstanding for basic
net income per share 89,839 89,397 90,878 88,419
========= ========== ========= ==========
Weighted average shares
outstanding for diluted
net income per share 92,521 91,880 94,391 90,373
========= ========== ========= ==========
POLYCOM, INC.
GAAP to Non-GAAP Reconciliation
(In thousands, except per share amounts)
(Unaudited)
Three Months Ended Twelve Months Ended
---------------------------- -----------------------------
December 31, 2007 December 31, 2007
---------------------------- -----------------------------
GAAP Excluded Non-GAAP GAAP Excluded Non-GAAP
-------- -------- -------- -------- --------- --------
Revenues:
Product
revenues $228,129 $ - $228,129 $806,482 $ - $806,482
Service
revenues 35,162 - 35,162 123,426 - 123,426
-------- -------- -------- -------- --------- --------
Total
revenues 263,291 - 263,291 929,908 - 929,908
-------- -------- -------- -------- --------- --------
Cost of
revenues:
Cost of
product
revenues 92,614 4,266(a) 88,348 322,988 16,849(c) 306,139
Cost of
service
revenues 17,216 927(b) 16,289 61,599 3,360(b) 58,239
-------- -------- -------- -------- --------- --------
Total
cost
of
revenues 109,830 5,193 104,637 384,587 20,209 364,378
-------- -------- -------- -------- --------- --------
Gross profit 153,461 (5,193) 158,654 545,321 (20,209) 565,530
-------- -------- -------- -------- --------- --------
Operating
expenses:
Sales and
marketing 68,073 3,501(b) 64,572 242,510 12,665(b) 229,845
Research
and
development 36,072 3,448(b) 32,624 139,011 12,482(b) 126,529
General
and
adminis-
trative 16,113 2,769(b) 13,344 60,994 10,478(b) 50,516
Acquisition-
related
costs 1,118 1,118 - 4,258 4,258 -
Purchased
in-process
research
and
development - - - 9,400 9,400 -
Amortization
and
impairment of
purchased
intangibles 5,323 5,323 - 11,546 11,546 -
Restructuring
costs 197 197 - 410 410 -
-------- -------- -------- -------- --------- --------
Total
operating
expenses 126,896 16,356 110,540 468,129 61,239 406,890
-------- -------- -------- -------- --------- --------
Operating
income 26,565 (21,549) 48,114 77,192 (81,448) 158,640
Interest
income, net 3,859 - 3,859 18,646 - 18,646
Gain (loss) on
strategic
investments - - - (7,400) (7,400) -
Other income
(expense), net (389) - (389) (738) - (738)
-------- -------- -------- -------- --------- --------
Income before
provision
from income
taxes 30,035 (21,549) 51,584 87,700 (88,848) 176,548
Provision for
income taxes 7,234 (5,810) 13,044 24,819 (22,849) 47,668
-------- -------- -------- -------- --------- --------
Net income $ 22,801 $(15,739) $ 38,540 $ 62,881 $ (65,999) $128,880
======== ======== ======== ======== ========= ========
Basic net
income per
share $ 0.25 $ (0.18) $ 0.43 $ 0.69 $ (0.73) $ 1.42
======== ======== ======== ======== ========= ========
Diluted net
income per
share $ 0.25 $ (0.17) $ 0.42 $ 0.67 $ (0.70) $ 1.37
======== ======== ======== ======== ========= ========
Weighted
average
shares
outstanding
for basic
net income
per share 89,839 89,839 90,878 90,878
======== ======== ======== ========
Weighted
average
shares
outstanding
for diluted
net income
per share 92,521 92,521 94,391 94,391
======== ======== ======== ========
(a) Excluded amount includes $3,343 related to the amortization of
purchased intangibles for core and existing technologies, $733 for
stock-based compensation expense recorded in accordance with SFAS 123R,
"Share-Based Payment," during the period and $190 related to the effect of
stock-based compensation on warranty expense rates.
(b) Excluded amount represents stock-based compensation expense recorded in
accordance with SFAS 123R, "Share-Based Payment," during the period.
(c) Excluded amount includes $10,860 related to the amortization of
purchased intangibles for core and existing technologies, $2,674 for
stock-based compensation expense recorded in accordance with SFAS 123R,
"Share-Based Payment," during the period, $851 related to the effect of
stock-based compensation on warranty expense rates and $2,464 related to
purchase accounting adjustments made to inventory.
POLYCOM, INC.
GAAP to Non-GAAP Reconciliation
(In thousands, except per share amounts)
(Unaudited)
Three Months Ended Twelve Months Ended
----------------------------- ------------------------------
December 31, 2006 December 31, 2006
----------------------------- ------------------------------
GAAP Excluded Non-GAAP GAAP Excluded Non-GAAP
--------- -------- --------- --------- --------- ---------
Revenues:
Product
revenues $ 164,784 $ - $ 164,784 $ 600,703 $ - $ 600,703
Service
revenues 21,725 - 21,725 81,682 - 81,682
--------- -------- --------- --------- --------- ---------
Total
revenues 186,509 - 186,509 682,385 - 682,385
--------- -------- --------- --------- --------- ---------
Cost of
revenues:
Cost of
product
revenues 60,211 374(a) 59,837 218,810 1,878(c) 216,932
Cost of
service
revenues 11,394 421(b) 10,973 43,114 1,734(b) 41,380
--------- -------- --------- --------- --------- ---------
Total
cost of
revenues 71,605 795 70,810 261,924 3,612 258,312
--------- -------- --------- --------- --------- ---------
Gross profit 114,904 (795) 115,699 420,461 (3,612) 424,073
--------- -------- --------- --------- --------- ---------
Operating
expenses:
Sales and
marketing 44,980 1,792(b) 43,188 169,828 6,768(b) 163,060
Research
and
development 29,357 1,772(b) 27,585 114,331 7,311(b) 107,020
General
and
administrative 11,717 1,430(b) 10,287 45,410 6,001(b) 39,409
Acquisition-
related costs 24 24 - 161 161 -
Amortization
and
impairment of
purchased
intangibles 2,812 2,812 - 7,452 7,452 -
Restructuring
costs 543 543 - 2,410 2,410 -
--------- -------- --------- --------- --------- ---------
Total
operating
expenses 89,433 8,373 81,060 339,592 30,103 309,489
--------- -------- --------- --------- --------- ---------
Operating
income 25,471 (9,168) 34,639 80,869 (33,715) 114,584
Interest
income, net 7,022 - 7,022 21,164 - 21,164
Gain (loss) on
strategic
investments 176 176 - 176 176 -
Other income
(expense),
net 139 - 139 540 - 540
--------- -------- --------- --------- --------- ---------
Income before
provision
from income
taxes 32,808 (8,992) 41,800 102,749 (33,539) 136,288
Provision for
income taxes 7,045 (2,770) 9,815 30,825 (7,336) 38,161
--------- -------- --------- --------- --------- ---------
Net income $ 25,763 $ (6,222) $ 31,985 $ 71,924 $ (26,203) $ 98,127
========= ======== ========= ========= ========= =========
--------- -------- --------- --------- --------- ---------
Basic net
income per
share $ 0.29 $ (0.07) $ 0.36 $ 0.81 $ (0.30) $ 1.11
========= ======== ========= ========= ========= =========
--------- -------- --------- --------- --------- ---------
Diluted net
income per
share $ 0.28 $ (0.07) $ 0.35 $ 0.80 $ (0.29) $ 1.09
========= ======== ========= ========= ========= =========
Weighted
average
shares
outstanding
for basic
net income
per share 89,397 89,397 88,419 88,419
========= ========= ========= =========
Weighted
average
shares
outstanding
for diluted
net income
per share 91,880 91,880 90,373 90,373
========= ========= ========= =========
(a) Excluded amount includes $366 for stock-based compensation expense
recorded in accordance with SFAS 123R, "Share-Based Payment," during the
period and $8 related to the effect of stock-based compensation on warranty
expense rates.
(b) Excluded amount represents stock-based compensation expense recorded in
accordance with SFAS 123R, "Share-Based Payment," during the period.
(c) Excluded amount includes $1,474 for stock-based compensation expense
recorded in accordance with SFAS 123R, "Share-Based Payment," during the
period and $404 related to the effect of stock-based compensation on
warranty expense rates.
POLYCOM, INC.
Condensed Consolidated Balance Sheets
(In thousands)
(Unaudited)
December 31, December 31,
2007 2006
------------- -------------
ASSETS
Current assets
Cash and cash equivalents $ 279,560 $ 316,368
Investments 62,663 157,345
Trade receivables, net 138,133 79,057
Inventories 71,106 48,029
Deferred taxes 43,295 22,459
Prepaid expenses and other current assets 23,104 16,719
------------- -------------
Total current assets 617,861 639,977
Property and equipment, net 57,610 39,426
Long-term investments 32,340 102,133
Goodwill 495,943 356,755
Purchased intangibles, net 86,423 12,935
Deferred taxes 8,062 16,746
Other assets 14,687 22,043
------------- -------------
Total assets $ 1,312,926 $ 1,190,015
============= =============
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable $ 75,802 $ 53,602
Accrued payroll and related liabilities 29,518 22,182
Taxes payable 3,790 58,092
Deferred revenue 59,130 40,227
Other accrued liabilities 48,814 39,780
------------- -------------
Total current liabilities 217,054 213,883
Non-current liabilities
Deferred revenue 27,853 20,798
Taxes payable 34,899 -
Deferred taxes 4,709 -
Other long-term liabilities 13,429 8,614
------------- -------------
Total liabilities 297,944 243,295
Stockholders' equity 1,014,982 946,720
------------- -------------
Total liabilities and stockholders'
equity $ 1,312,926 $ 1,190,015
============= =============
POLYCOM, INC.
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
Twelve Months Ended
--------------------------
December 31, December 31,
2007 2006
------------ ------------
Cash flows from operating activities:
Net income $ 62,881 $ 71,924
Adjustments to reconcile net income
to net cash provided by operating activities:
Depreciation and amortization 24,502 21,035
Amortization and impairment of purchased
intangibles 22,389 7,452
Provision for doubtful accounts 370 120
Provision for excess and obsolete inventories 264 1,306
Non-cash stock-based compensation 41,659 23,288
Excess tax benefits from stock-based
compensation (15,505) (10,246)
(Gain)/loss on strategic investments 7,400 (176)
Purchase of in-process research and
development 9,400 -
Loss on disposals of property and equipment 175 116
Changes in assets and liabilities, net of
the effect of acquisitions:
Trade receivables (41,689) (9,774)
Inventories (3,743) (3,568)
Deferred taxes 6,893 9,264
Prepaid expenses and other assets (5,719) (4,783)
Accounts payable 12,716 6,720
Taxes payable 10,742 9,139
Other accrued liabilities 16,780 25,869
------------ ------------
Net cash provided by operating activities 149,515 147,686
------------ ------------
Cash flows from investing activities:
Purchase of property and equipment (30,050) (23,475)
Purchases of investments (380,598) (660,668)
Proceeds from sale and maturity of
investments 544,113 669,812
Net cash paid in purchase acquisitions (275,917) (188)
------------ ------------
Net cash used in investing activities (142,452) (14,519)
------------ ------------
Cash flows from financing activities:
Proceeds from issuance of common stock
under employee option and stock
purchase plans 66,474 87,304
Repurchase of common stock (125,850) (103,620)
Excess tax benefits from stock-based
compensation 15,505 10,246
------------ ------------
Net cash used in financing activities (43,871) (6,070)
------------ ------------
Net increase (decrease) in cash and cash
equivalents (36,808) 127,097
Cash and cash equivalents, beginning of
period 316,368 189,271
------------ ------------
Cash and cash equivalents, end of period $ 279,560 $ 316,368
============ ============
Add to Digg Bookmark with del.icio.us Add to Newsvine
Contact:
Michael R. Kourey
CFO
Polycom, Inc.
925-924-5742Email Contact
Copyright ? 2008 Market Wire, Incorporated
[ Back To Homepage ]
|
