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Plantronics: Fiscal 1Q Earnings Snapshot

August 6, 2019

SANTA CRUZ, Calif. (AP) _ Plantronics Inc. (PLT) on Tuesday reported a fiscal first-quarter loss of $44.9 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Santa Cruz, California-based company said it had a loss of $1.14. Earnings, adjusted for one-time gains and costs, came to $1.32 per share.

The headset maker posted revenue of $447.8 million in the period.

For the current quarter ending in October, Plantronics expects its per-share earnings to range from $1.20 to $1.50. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.48.

The company said it expects revenue in the range of $456 million to $496 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $520.7 million.

Plantronics expects full-year earnings in the range of $5.35 to $6.35 per share, with revenue ranging from $1.87 billion to $1.97 billion.

Plantronics shares have increased 6% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $35.11, a drop of 49% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PLT at https://www.zacks.com/ap/PLT

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