Multiple Financial Outlets Claim Plantronics Is for Sale

Multiple Financial Outlets Claim Plantronics Is for Sale

According to CNBC, CBS MarketWatch, Reuters and Nasdaq’s news service, Plantronics — the maker of wireless headsets and the parent company of Polycom — is for sale. After reporting terrible earnings Tuesday, and the stock plunging 11 percent, it appears they are looking for a buyer. In the earnings announcement Tuesday, Plantronics said its revenue was $483 Million for Q3 2018, with a gross profit of $152.6 Million and a loss of nearly $87 Million. In comparison, in 2017 net income was $19.9 million on $210 Million in sales (number is lower than 2018 as this was pre-Polycom purchase).

In March of this year, when Polycom was purchased by Plantronics (for $2 Billion), we questioned if that purchase was an actual acquisition or a bail-out — you can read that article here.

Regardless of what happens, one thing is for sure: The person who convinced Plantronics to pay $2 Billion for Polycom was a genius negotiator. The person at Plantronics who said, “Yes, this is a good idea,” — not so much.

Here is CNBC’s story, today, on the possible purchase.

Here’s the NASDAQ story.

Here’s the REUTER’s story.

And, here’s the complete earnings statement from Tuesday.

Following today’s reports, Plantronics’ stock jumped 5 percent.