Plantronics (POLY)

Poly creates premium audio and video products so people can have the best meeting -- anywhere, anytime, every time. Its headsets, video and audio-conferencing products, desk phones, analytics software and services are beautifully designed and engineered to connect people with incredible clarity. They're pro-grade, easy to use and work seamlessly with all the best video and audio conferencing services. With Poly (Plantronics, Inc. - formerly Plantronics and Polycom), people will do more than just show up, it will stand out.

Company profile

Ticker

POLY

Exchange

NYSE

Website

www.poly.com

CEO

Robert Hagerty

Incorporated

Delaware

Location

California

Fiscal year end

Apr 02

Sector

Manufacturing > Telephone Apparatus Manufacturing

Industry (SIC)

Telephone & Telegraph Apparatus

CIENA • Netgear • Adtran • Infinera • Fabrinet • Westell • Audiocodes • Pineapple Energy • DZS • Sonim ...

SEC CIK

0000914025

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Plantronics Canada, Inc. • Polycom Australia Pty Ltd. • Frederick Electronics Corp. • Plamex S.A. de C.V. • Polycom, Inc. • Plantronics International Ltd. • Poly Communications International Unlimited Company • Polycom Global (Singapore) Pte. Ltd. • Plantronics Europe Ltd. • Polycom (France) S.A.R.L. ...

IRS number

770207692

POLY stock data

1M 1Y 5Y

News

From Benzinga Pro

Plantronics's Return On Capital Employed Overview

24 Jun 22

Plantronics (NYSE:POLY) brought in sales totaling $421.85 million during Q4 according to data provided by Benzinga Pro. However, earnings decreased 176.72%, resulting in a loss of $30.89 million.

Poly Announces Stockholder Approval Of Merger Agreement With HP Inc.

23 Jun 22

Poly (NYSE:POLY), a global outfitter of professional-grade audio and video technology, today announced that its stockholders voted to approve the merger agreement pursuant to which Poly will be acquired by HP Inc. Based

Recap: Plantronics Q4 Earnings

27 May 22

Plantronics (NYSE:POLY) reported its Q4 earnings results on Friday, May 27, 2022 at 08:00 AM. Here's what investors need to know about the announcement.

Plantronics Q4 Adj. EPS $0.50 Down From $1.23 YoY

27 May 22

Press releases

From Benzinga Pro

HP Announces Extension of the Expiration Date for Exchange Offer for Plantronics Notes

1 Aug 22

PALO ALTO, Calif., Aug. 01, 2022 (GLOBE NEWSWIRE) -- HP Inc. (NYSE:HPQ) ("HP" or the "Company") announced today that it has extended the expiration date of the previously announced offer to exchange (the "Exchange

Ribbon, Poly and TD SYNNEX Launch Microsoft Teams Enablement Bundle to Simplify and Protect Connections for Hybrid and Other Work Environments

27 Jul 22

"Get Connected" helps bolster productivity and streamline voice collaboration anywhere and at any time PLANO, Texas, July 27, 2022 /PRNewswire/ -- Ribbon Communications Inc. (NASDAQ:RBBN), a global provider of

HP Announces Early Participation Results in Exchange Offer and Consent Solicitation for Plantronics Notes and Extends Deadline for Early Participation Premium

19 Jul 22

PALO ALTO, Calif., July 19, 2022 (GLOBE NEWSWIRE) -- HP Inc. (NYSE:HPQ) ("HP" or the "Company") announced today that it has received the requisite consents to adopt certain proposed amendments (the "Amendments") with

HP Announces Further Extension of Exchange Offer and Consent Solicitation for Plantronics Notes

13 Jul 22

HP Announces Amendment and Extension of Exchange Offer and Consent Solicitation for Plantronics Notes

12 Jul 22

Calendar

27 May 22

9 Aug 22

2 Apr 23

Financial summary

Financial statements Chart POLY financial data

Quarter (USD)	Apr 22	Jan 22	Oct 21	Jul 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Apr 22	Apr 21	Mar 20	Mar 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	170M	170M	170M	170M	170M	170M
Cash burn (monthly)	4.23M	43.87M	11.54M	7.17M	2.57M	647.42K
Cash used (since last report)	17.95M	186.07M	48.94M	30.42M	10.91M	2.75M
Cash remaining	152.05M	-16.07M	121.06M	139.58M	159.09M	167.25M
Runway (months of cash)	35.9	-0.4	10.5	19.5	61.8	258.3

Beta Read what these cash burn values mean

Financial data from Plantronics earnings reports.

Recent insider trades

POLY insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
2 Aug 22	Jouret Guido	COMMON STOCK	Sell	Dispose S	No	No	39.8	800	31.84K	20,026
1 Jun 22	Jouret Guido	COMMON STOCK	Sell	Dispose S	No	Yes	39.48	400	15.79K	20,826
17 May 22	Jouret Guido	COMMON STOCK	Sell	Dispose S	No	Yes	39.35	800	31.48K	21,226
10 May 22	Shull David M	COMMON STOCK	Payment of exercise	Dispose F	No	No	39.62	46,018	1.82M	319,562
10 May 22	Shull David M	COMMON STOCK	Grant	Acquire A	No	No	0	107,866	0	365,580
10 May 22	Shull David M	COMMON STOCK	Payment of exercise	Dispose F	No	No	39.62	8,969	355.35K	257,714
10 May 22	Shull David M	COMMON STOCK	Grant	Acquire A	No	No	0	97,123	0	266,683
10 May 22	Carl Wiese	COMMON STOCK	Payment of exercise	Dispose F	No	No	39.62	9,621	381.18K	94,819
9 May 22	Carl Wiese	COMMON STOCK	Grant	Acquire A	No	No	0	24,449	0	104,440

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

POLY institutional ownership history Ownership history

98.7% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	187	153	+22.2%
Opened positions	53	16	+231.3%
Closed positions	19	26	-26.9%
Increased positions	48	56	-14.3%
Reduced positions	63	50	+26.0%

13F shares	Current	Prev Q	Change
Total value	1.7B	2.14B	-20.3%
Total shares	43.15M	43.59M	-1.0%
Total puts	281.5K	141.8K	+98.5%
Total calls	811.1K	287.5K	+182.1%
Total put/call ratio	0.3	0.5	-29.6%

Largest owners	Shares	Value	Change
BLK Blackrock	6.8M	$267.93M	+1.6%
Primecap Management	6.33M	$249.56M	-0.0%
Vanguard	4.65M	$183.03M	-8.7%
Disciplined Growth Investors	2.62M	$103.22M	+2.3%
Magnetar Financial	1.99M	$78.31M	NEW
STT State Street	1.48M	$58.31M	+2.9%
AMP Ameriprise Financial	1.45M	$57.15M	-79.4%
Marshall Wace	1.16M	$45.6M	+46.2%
Water Island Capital	1.11M	$43.85M	NEW
Schroder Investment Management	1.08M	$42.62M	-7.6%

Largest transactions	Shares	Bought/sold	Change
AMP Ameriprise Financial	1.45M	-5.6M	-79.4%
FMR	1.66K	-2M	-99.9%
Magnetar Financial	1.99M	+1.99M	NEW
Water Island Capital	1.11M	+1.11M	NEW
IVZ Invesco	279.62K	-791.1K	-73.9%
Arp Americas	701.51K	+701.51K	NEW
Jacobs Levy Equity Management	39.04K	-694.32K	-94.7%
Schonfeld Strategic Advisors	655.49K	+562.99K	+608.6%
JPM JPMorgan Chase & Co.	672.72K	+548.1K	+439.8%
GS Goldman Sachs	622.63K	+501.44K	+413.8%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Financial report summary

Competition

Apple • ClearOne • Cisco Systems • Logitech International • Audiocodes • Avaya • Zte • Turtle Beach • Razer

Management Discussion

Total net revenues for Fiscal Year 2022 were $1,681.1 million, a decrease of $46.5 million or 2.7%, compared to Fiscal Year 2021, primarily driven by decreased sales in our Headsets and Services product categories, partially offset by increased sales in our Video and Voice product categories.
Product gross margin for Fiscal Year 2022 decreased from 41.3% in the prior year to 37.0%, primarily driven by increased component costs, unfavorable product mix, and increased transportation costs.
In May 2021, we redeemed the outstanding principal and accrued interest on the 5.50% Senior Notes of $493.9 million. In June 2021, the Company entered into a three-year amortizing interest rate swap agreement with Bank of America, N.A. The swap has an initial notional amount of $680 million and matures on July 31, 2024. Refer to further discussion in Note 8, Debt, and Note 13, Derivatives, of the accompanying notes to the consolidated financial statements included within “Item 8. Financial Statements and Supplementary Data” of this Annual Report on Form 10-K.

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. sophomore Avg

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Removed: advertising, applying, architecture, arrive, assembled, assume, calculating, ClearOne, composition, concurrent, consistent, convey, Cooperation, coverage, developer, discovered, Erosion, finalized, footprint, GmbH, guaranteeing, informational, interpret, LifeSize, Manager, measure, NA, naturally, Netcom, netted, OECD, opening, participant, participating, prepaid, prepayment, promoted, promulgation, reached, recommended, reflected, saved, scale, Sennheiser, shared, Snom, span, speed, today, Topic, unaudited, unpredictability, unsecured, unsubordinated, utilized, Vidyo, worked, xxi, xxii, ZTE

From filing 10-K 2022 FY

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