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Mitel Posts Lower Profit

Mitel, a provider of unified communications and collaboration software solutions, on Thursday said revenues for its fourth fiscal quarter inched up slightly, but the companys profit declined year over year.

In the fiscal quarter ending April 30, 2011, Mitel posted net income of $4.4 million, or $0.08 per share, on revenues of $166.6 million. A year ago, the Canada-based company reported a profit of $22 million on revenues of $163.9 million.

For fiscal 2011, Mitel reported net income of $88.1 million, or $1.57 per share, on revenues of $649.7 million.

Our recently announced strategy to simplify our business, re-direct our R&D investments aimed at the high growth market of medium business/medium enterprise companies and reorganize our U.S. sales organization is designed to position Mitel for growth,” Mitel CEO Richard McBee said.

For the first quarter of fiscal 2012 ending July 31, 2011, Mitel forecasts revenues of $158 million to $162 million.

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