Friday, May 27, 2022
  • Events
  • Interviews
  • Jobs
  • Opinion
  • Whitepapers
  • Glossary
  • Community Forum
  • Web Hosting Directory
  • Login
  • Register
Cloud7 News
  • Cloud Computing
  • Web Hosting
  • Data Center
  • Linux
  • Cybersecurity
  • More
    • How-Tos
    • Network/Internet
    • Windows
    • Software
    • Hardware
    • Blockchain
    • Policy/Legislation
    • Video
No Result
View All Result
Cloud7 News
  • Cloud Computing
  • Web Hosting
  • Data Center
  • Linux
  • Cybersecurity
  • More
    • How-Tos
    • Network/Internet
    • Windows
    • Software
    • Hardware
    • Blockchain
    • Policy/Legislation
    • Video
No Result
View All Result
Cloud7 News
No Result
View All Result

Home > Hardware > Poly announced COVID-19 response and business update

Poly announced COVID-19 response and business update

Due to COVID-19 widespread mandatory stay-at-home lead individuals working from home. Correspondingly, Poly saw a near-term increase in demand for its enterprise headsets.

Julide Gamze Cecen by Julide Gamze Cecen
May 16, 2020
in Hardware
3 min read
0 0
0
Poly announced COVID-19 response and business update
0
SHARES
2
VIEWS
Share on FacebookShare on TwitterShare on EmailFollow on Google News

Plantronics Inc. is a global communications company, which powers meaningful human connection and collaboration, provided a business update, including actions the company is taking in response to COVID-19. Poly announced the company response for COVID-19 and business updates.

Business performance update

Widespread mandatory stay-at-home orders across the globe have created a surge in the number of individuals working from home or from remote locations. Correspondingly, Poly saw a near-term increase in demand for its enterprise headsets. As the Company manages both the demand environment and supply chain, it provides the following business update:

  • In Q4, Poly’s product portfolio saw an increase in demand, driven primarily by enterprise headsets.
  • As of March 28, 2020, the Company had approximately six weeks of backlog.
  • The increase in demand also caused channel inventories to decline in the quarter.

Robert Hagerty, Chairman of the Poly Board of Directors and Interim Chief Executive Officer said,

“The COVID-19 crisis is unprecedented, and Poly’s top priority is to protect the health and safety of our employees, stakeholders and communities as we continue to serve our customers. Given the vital role our headsets and communications portfolio play in enabling individuals to work seamlessly from any location, our products and services have seen increased demand.

We have implemented enhanced safety precautions at our facilities and are actively taking steps to ensure continuity of supply as we work through the current heightened demand. In order to maintain maximum flexibility as we assess the uncertain global macroeconomic environment, we are planning ahead and taking prudent steps to increase our liquidity and cash reserves, and to strengthen our balance sheet during this extraordinary period.”

Response to COVID-19

While the company currently has a significant backlog, it continues to experience supply chain disruptions. On April 14, the company’s Mexican manufacturing facility, the primary manufacturing source of the company’s headset product, has been closed temporarily through April 30 as a result of the COVID-19 “shelter in place” directive in Mexico. The company is working with its supply chain and dual source partners to take the necessary steps to mitigate the disruption of supply. There can be no assurance that the ongoing disruptions due to COVID-19 will be resolved in the near term.

The company’s primary concern is for the health and safety of its employees around the globe during these challenging times. In any instances where suspected cases of COVID-19 have been reported, the company is following guidelines recommended by the Centers for Disease Control and Prevention (CDC), World Health Organization (WHO), and local health authorities, completing comprehensive contact tracing and performing comprehensive sanitation and deep cleaning.

Financial update for Q4

Due to the uptick in demand for its enterprise headsets and other products, the Company now expects GAAP revenues for its fiscal fourth quarter of 2020 to be in the range of $395 million to $405 million, compared to its prior range of $354 million to $394 million provided with its earnings results on February 4, 2020. The company expects adjusted non-GAAP EBITDA to be above the high-end of the previously provided guidance range of $20 million to $45 million.

The company is in the process of assessing potential impairment of goodwill and other intangible assets in light of recent developments in its business and the macroeconomic environment. While the valuation work required to determine impairment is in progress, a substantial charge likely will be recorded in the Company’s fiscal fourth-quarter results. The company plans to issue its fourth-quarter and full-year fiscal 2020 results on May 12, 2020.

See more Hardware News


Tags: CoronavirusPoly
ShareTweetSendShare
Get free daily newsletters from Cloud7 News Get the Cloud7 Newsletter

Check your inbox or spam folder to confirm your subscription.

By subscribing, you agree to our
Copyright Policy and Privacy Policy
Previous Post

Pioneer Point Partners announces partnership with Echelon

Next Post

AudioEye shared its Q1 2020 results

Julide Gamze Cecen

Julide Gamze Cecen

Julide Gamze Cecen is the multimedia editor of the Cloud7 News. Julide is a solid Linux user, opensource and cybersecurity enthusiast and a front-end web application developer.

Related News

HP and System76 introduce high-end laptop

HP and System76 introduce high-end laptop

May 26, 2022 4:44 pm
Samsung and Red Hat teaming up for next-generation memory software

Samsung and Red Hat teaming up for next-generation memory software

May 25, 2022 6:51 pm
iXsystems announced new TrueNAS releases

iXsystems announced new TrueNAS releases

May 13, 2022 5:40 pm
Xilinx FPGA AI engines will soon land on AMD EPYC CPUs

Xilinx FPGA AI engines will soon land on AMD EPYC CPUs

May 6, 2022 4:27 pm
Next Post
AudioEye shared its Q1 2020 results

AudioEye shared its Q1 2020 results

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Editor's Choice

Interview with Igor Seletskiy on AlmaLinux

7 best hosting control panels

How to update Linux Kernel without rebooting?

7 best Linux mail servers for 2022

7 best cPanel alternatives for 2022

7 best Linux web browsers for 2022

cPanel Security: 7 steps to secure cPanel

7 best CentOS alternatives

7 best Linux server distros for 2022

How to scan your server for Log4j (Log4Shell) vulnerability

Best web hosting service providers

AlmaLinux 8.6 Stable is ready to download

Ubuntu 22.04 LTS is available for download. What is new?

Advertisement

Recent News

  • GitHub Copilot becoming free for students
  • Google disables global cache servers in Russia
  • Broadcom is acquiring VMware for $61 billion
  • Clonezilla live 3.0.0-26 released
  • HP and System76 introduce high-end laptop

Our Latest Interview

Interview: Erez Barak, Vice President Observability of Sumo Logic
Interview

Interview: Erez Barak, Vice President Observability of Sumo Logic

by Atalay Kelestemur
November 25, 2021 3:23 am


Cloud7 News is a news source that publishes the latest news, industry news and exclusive interviews on web hosting, cloud computing, data center, cybersecurity and linux.

News Categories

  • Web Hosting
  • Cloud Computing
  • Data Center
  • Cybersecurity
  • Linux
  • Network/Internet
  • Software
  • Hardware
  • Blockchain

Our Free Modules

  • Events
  • Interviews
  • Jobs
  • Opinion
  • Whitepapers
  • Glossary
  • Community Forum
  • Web Hosting Directory

Get the Cloud7 Newsletter

Get FREE daily newsletters from Cloud7 delivering the latest news and reviews.

  • About Us
  • Privacy & Policy
  • Copyright Policy
  • Contact

© 2022, Cloud7 News. Latest Cloud Computing, Web Hosting, Data Center Industry and Tech News

No Result
View All Result
  • Cloud Computing
  • Web Hosting
  • Data Center
  • Linux
  • Cybersecurity
  • More
    • How-Tos
    • Network/Internet
    • Windows
    • Software
    • Hardware
    • Blockchain
    • Policy/Legislation
    • Video
  • Events
  • Interviews
  • Jobs
  • Opinion
  • Whitepapers
  • Glossary
  • Community Forum
  • Web Hosting Directory

© 2022, Cloud7 News. Latest Cloud Computing, Web Hosting, Data Center Industry and Tech News

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.