Plantronics Inc. (PLT) reported fourth quarter non-GAAP net income of $0.62 per share after the close Tuesday, compared to $0.60 per share last year. The consensus estimate was for EPS of $0.65. First quarter non-GAAP EPS is expected to be between $0.58 and $0.63, compared to the consensus estimate of $0.69.
Plantronics gapped open lower Wednesday and steadily declined during the first hour of trade. The stock was range-bound for the remainder of the day and closed down by 4.50 at $33.43, with volume at over an 11-month high. Plantronics plunged to over a 4-month low and fell below its 200-day moving average.
For comments and feedback: editorial@rttnews.com