Polycom Inc. (PLCM: Quote) announced Thursday morning that it now expects to report first quarter non-GAAP EPS of $0.21 to $0.23 and revenues of $364 million to $370 million. The consensus estimates are for EPS of $0.30 and revenues of $400.67 million.
Polycom gapped open sharply lower Thursday and drifted further during the final 2 hours of trade. The stock closed down by 3.63 at $14.56 on the highest volume in over 5 months. Polycom dropped below a one-month range and set over a 5-month low.
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by RTT Staff Writer
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