NEW YORK (TheStreet) --Shares Polycom Inc. (PLCM) are higher by 6.57% to $13.62 on Thursday morning after the communications equipment company reported an increase in net income to $29.6 million, or 21 cents per share for the 2014 second quarter, compared to $25.9 million, or 15 cents per share for the year ago quarter.
However, Polycom's revenue for the most recent quarter declined to $332 million versus $345.2 million for the 2013 second quarter.
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Separately, TheStreet Ratings team rates POLYCOM INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate POLYCOM INC (PLCM) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, increase in stock price during the past year and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income and weak operating cash flow."
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