Mitel Networks Earnings: Everything You Must Know Now
Mitel Networks Corp. (NASDAQ:MITL) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Mitel Networks Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 16.67% to $0.25 in the quarter versus EPS of $0.30 in the year-earlier quarter.
Revenue: Decreased 4.25% to $150.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Mitel Networks Corp. reported adjusted EPS income of $0.25 per share. By that measure, the company beat the mean analyst estimate of $0.24. It beat the average revenue estimate of $145.71 million.
Quoting Management: “In the fourth quarter, we are pleased to have exceeded our guidance for revenue and gross margin,” said Richard McBee, Chief Executive Officer, Mitel. “We had solid sequential revenue growth of 6% resulting from our continued focus on both our premise-based business and our cloud service offerings. This month, we announced and completed the acquisition of the contact center OEM supplier prairieFyre, which will allow us to capitalize on the increasing market demand for contact center solutions. We also significantly enhanced our sales leadership with the appointment of three new sales executives in the Americas.”
Key Stats (on next page)…