Polycom's net income grows 100 percent

Polycom's net income for the year ended December 31, 2011 has stood at $136 million, or 75 cents per share, registering a growth of 100 percent, compared to net income of $68 million, for the year ended December 31, 2011.

The consolidated revenue for the fourth quarter 2011 stood at $407 million, compared to $340 million in Q4 2010, while the net income for the fourth quarter of 2011 reached $50 million, or 28 cents per diluted share, compared to $33 million, or 19 cents per diluted share for the same period last year.

For the year ended December 31, 2011, net revenues were $1.5 billion, compared to $1.2 billion last year, in which Asia Pacific contributed $103.5 million, with an increase of 42 percent year-over-year.

''Leveraging our industry-leading technology and powerful network of strategic partners, Polycom's cloud, mobility, and software-driven infrastructure strategy is beginning to yield and we look forward to another year of solid growth in 2012,'' said Andrew Miller, Polycom's president and CEO.

''We are pleased to have achieved significant operating margin expansion and unprecedented operating cash flow of $122 million in the fourth quarter. Net of the strategic acquisitions and stock repurchases in the period, Polycom leaves 2011 with $592 million in cash and investments and no debt,'' said Michael Kourney, excutive VP, finance and administration and CFO, Polycom.