1010552--3/10/2006--POLYCOM

related topics

{customer, product, revenue}

{cost, operation, labor}

{stock, price, operating}

{product, market, service}

{condition, economic, financial}

{regulation, change, law}

{operation, international, foreign}

{property, intellectual, protect}

{control, financial, internal}

{competitive, industry, competition}

{regulation, government, change}

{tax, income, asset}

{acquisition, growth, future}

If we fail to compete successfully domestically and internationally, our business and results of operations would be significantly harmed. Competition in each of our operating segments is intense, and the failure to perform in any of these segments could negatively affect our results of operations. We face risks associated with our products and product development, including new product introductions and transitions. Our quarterly operating results may fluctuate significantly and are not necessarily a good indicator of future performance. We experience seasonal demand for our products and services, which may adversely impact our results of operations during certain periods. General economic conditions may reduce our revenues and harm our business. Our operating results are hard to predict as a significant amount of our sales may occur at the end of a quarter or are subject to contractual acceptance provisions. We face risks related to our dependence on channel partners to sell our products. Difficulties we may encounter managing a substantially larger business could adversely affect our operating results. Difficulties in integrating our acquisitions could adversely impact our business. We face risks related to our international operations and sales. We have limited supply sources for some key components of our products, and our operations could be harmed by supply interruptions, component defects or unavailability of these components. Manufacturing disruption or capacity constraints would harm our business. If we have insufficient proprietary rights or if we fail to protect those rights we have, our business would be materially impaired. Loss of government contracts could have a material adverse effect on our business. While we believe we currently have adequate internal control over financial reporting, we are required to evaluate our internal control over financial reporting under Section 404 of the Sarbanes-Oxley Act of 2002 and any adverse results from such evaluation could result in a loss of investor confidence in our financial reports and have an adverse effect on our stock price. Changes in existing financial accounting standards or practices may adversely affect our results of operations. Changes in tax rates could affect our future results. Business interruptions could adversely affect our operations. Our cash flow could fluctuate due to the potential difficulty of collecting our receivables and managing our inventories. Our stock price fluctuates as a result of the conduct of our business and stock market fluctuations.

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1010552--3/10/2006--POLYCOM_INC