Plantronics Meets on the Top Line, Misses Where It Counts
Plantronics (NYS: PLT) reported earnings on May 1. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q4), Plantronics met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue improved slightly and GAAP earnings per share increased.
Gross margins grew, operating margins expanded, net margins contracted.
Plantronics reported revenue of $177.6 million. The six analysts polled by S&P Capital IQ wanted to see sales of $178.1 million on the same basis. GAAP reported sales were 2.6% higher than the prior-year quarter's $173.1 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.62. The seven earnings estimates compiled by S&P Capital IQ forecast $0.65 per share. GAAP EPS of $0.55 for Q4 were 3.8% higher than the prior-year quarter's $0.53 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 53.6%, 130 basis points better than the prior-year quarter. Operating margin was 18.0%, 110 basis points better than the prior-year quarter. Net margin was 13.5%, 170 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $182.2 million. On the bottom line, the average EPS estimate is $0.69.
Next year's average estimate for revenue is $758.4 million. The average EPS estimate is $2.86.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 123 members out of 136 rating the stock outperform, and 13 members rating it underperform. Among 53 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 51 give Plantronics a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Plantronics is outperform, with an average price target of $43.00.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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