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Polycom Rises on Beat

Revenue is strong.

Polycom (PLCM) shares lift as the company flew by third quarter targets.

The Pleasanton, Calif., conference call equipment specialist posted an adjusted profit of $24.5 million, or 27 cents a share. Those numbers compare with a pro forma profit of $19 million, or 20 cents a share, a year ago. Analysts were looking for a 25-cent profit, according to Reuters Research.

Total sales in the quarter were $173.2 million. That compares with $144.4 million in revenue during the year-ago period. Analysts had their sights set on about $170 million in sales.

"With the resulting revenues of $173.2 million and strong gross and operating margins, Polycom generated $39.2 million in positive operating cash flow in the third quarter," CFO Mike Kourey said in a press release.

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Polycom shares rose 39 cents to $26 in after-hours trading Wednesday.