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.

Gary Kayye

About Gary Kayye

Gary Kayye, founder of rAVe Publications, is one of the most prominent personalities in the audiovisual industry. He has been a contributor to WIRED magazine and a technical advisor and columnist for Sound & Communications magazine as well as an opinionated columnist for rAVe [Publications] since 2003. In addition to his writing and market analysis, Gary has been a product, marketing and business operations consultant to dozens of AV companies in the U.S. and overseas. Clients have included companies such as Sony, Sharp, Epson, Lutron, InFocus, Sanyo, Mitsubishi, NEC and Philips.   Gary, who has been involved with the audiovisual market for over 20 years, was the recipient of the InfoComm 2003 Educator of the Year Award and the 2007 NSCA Instructor of the Year Award. Over the years, he has donated much of his time as an active volunteer in the AV industry’s trade association and served as chairman of InfoComm’s Professional Education & Training Committee (PETC), chairman of the ICIA Design School Committee and chairman of InfoComm’s Installation School Committee. In addition, he has served on the InfoComm board of governors. He also helped grow the InfoComm Projection Shoot-Out as the premiere AV industry trade show special event serving on the committee from 1991 through 1997, and was instrumental in launching the Shoot-Out in the European market at the Photokina Expo in 1994 and 1996 as well as the Asian market at the 1995 and 1997 INFOCOMM Asia shows.   Prior to founding his own company, Gary was vice president of sales and marketing for AMX Corporation (www.amx.com), a manufacturer specializing in professional AV and residential AV control systems. Prior to AMX, Gary spent nine years at Extron Electronics (www.extron.com), rising to the position of vice president of sales and marketing. Gary earned his bachelor’s degree in journalism in 1987 from the University of North Carolina and is currently Adjunct Faculty at UNC in the School of Journalism teaching a class on how future technologies will affect the future of advertising, PR and marketing.   He is also the founder of Swim for Smiles, a non-profit that raises money for the N.C. Children’s Hospital through swimming and other fitness-related events for kids. You can contact him at gary@ravepubs.com..