UPDATE 2-Polycom Q4 profit tops Wall Street view; shares rise
(Adds comments from analyst, details from conference call)
By John Tilak
BANGALORE Jan 23 (Reuters) - Polycom Inc PLCM.O, which makes video conferencing products, reported fourth-quarter earnings above Wall Street estimates, helped by demand for its Internet protocol-based collaboration services.
Fourth-quarter net income fell to $22.8 million, or 25 cents a share, compared with $25.8 million, or 28 cents a share, a year ago. Revenue rose 41 percent to $263.3 million.
Excluding items, net income rose to 42 cents a share.
Analysts expected earnings of 39 cents a share, excluding items, on revenue of $252.8 million, according to Reuters Estimates.
"Clearly, given its peers like ShoreTel (SHOR.O: Cotización) preannouncing negatively, this is a very positive surprise," Wedbush Morgan Securities analyst Scott Sutherland said by phone.
Sutherland said the strong growth was driven by demand for video revenue, which made up nearly half of its revenue for the quarter, and the launch of new products.
The company, which competes with Norway's Tandberg TAA.OL, has been rapidly expanding its high-definition products line by recently launching a mid-range HD video service and an executive desktop HD video product. Continuación...