Polycom announces first quarter results

Polycom, a provider of hosted telephony solutions, has reported its first quarter results for 2011.

The company, based in Pleasanton, California saw consolidated net revenues rise to a record $344 million, compared to $276 million for the first quarter of 2010.

Net income for the first quarter of 2011 was $34 million – 38 cents per share - compared with just $5 million last year.

When broken down geographically, revenues were mainly from the Americas (51 per cent), followed by Europe, Middle East, and Africa (25 per cent) and Asia Pacific (24 percent).

The VoIP provider saw revenues in the Asia Pacific region increase from $59 million in 2010 to $82 million this year.

Although making up a smaller percentage of total revenues than the previous year, profits in the Americas were up from $150 million in 2010 to $176 million for the quarter ending March 31st.

Andrew Miller, Polycom president and CEO said: "We are particularly pleased with the traction Polycom's UC strategy is gaining within our partner and customer communities, as well as the outstanding results we continue to achieve in emerging markets such as China and India."