Plantronics Q3 Profit Misses Estimate; Q4 Outlook Weak

(RTTNews) - Plantronics, Inc. (PLT) reported net income for the third quarter of $30.4 million or $0.71 per share, compared to $34.4 million or $0.80 per share for the year-ago quarter.

Excluding items, adjusted earnings per share for the third quarter was $0.79, compared to $0.76 in the prior year quarter.

Net revenues for the third quarter rose to $231.8 million from $212.7 million a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $0.81 per share on revenue of $225.84 million for the third quarter. Analyst' estimates typically exclude special items.

Looking forward to the fourth quarter, the company forecasts net revenues of $205 million to $215 million, earnings of $0.55 to $0.63 per share and adjusted earnings of $0.67 to $0.75 per share. Analysts currently expect the company to earn $0.79 per share on revenue of $225.60 million for the fourth quarter.