Reuters: Global Markets: Polycom lowers Q1 outlook, shares fall

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Polycom lowers Q1 outlook, shares fall Apr 5th 2012, 11:23 Thu Apr 5, 2012 7:23am EDT (Reuters) - Videoconferencing company Polycom Inc (PLCM.O) lowered its outlook for first-quarter revenue and forecast a profit well below analysts' expectations, hurt by weaker-than-expected business in Asia Pacific and North America. The company expects a profit of 21 cents to 23 cents, excluding items, on a revenue of $364 million to $370 million. In January, the company had forecast its first-quarter revenue would drop 2 percent from the fourth quarter of 2011, suggesting a revenue of about $399 million. Analysts were looking for an adjusted profit of 30 cents a share on a revenue of $399.7 million, according to Thomson Reuters I/B/E/S. Shares of the company fell 14 percent to $15.60 in trading before the bell. They had closed at $18.19 on Wednesday on the Nasdaq.

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