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Mitel Profits Drop $41 Million From Year-Ago Quarter

June 24, 2013 - News
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Mitel Networks reported lower profits for its fourth quarter ended April 30, but revenue came in about $5 million higher.

The Canada-based maker of cloud and UC platforms on Monday said it earned $8.1 million, or 14 cents per share, down from $49.2 million, or 88 cents per share, a year earlier. The 2012 numbers, however, included $46 million in deferred income-tax recovery. Analysts polled by Thomson Reuters had been expecting earnings of 24 cents per share. Revenue, meanwhile, went down 4.3 percent to $150.9 million.

Mitel said it projects sales for the current quarter, which ends July 31, to fall between $140 million and $145 million. Analysts had forecast $146 million, according to reports. The recent prairieFrye deal likely will impact the numbers. Mitel is paying $20 million in cash for the contact center specialist.

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