Mitel Reports Increase in the Revenues in Fourth Quarter
In its recently released financial report, renowned global provider of business communications and collaboration software and services Mitel announced that the company has achieved $166.6 million revenue for the fourth quarter for fiscal year ended April 30, 2011. According to the company, the revenue was $162.0 million in the third quarter.
In a press release Mitel further revealed that at $88.1 million, or $1.57 per share, net income for the fourth quarter of fiscal 2011 rose $0.08 per share. In addition, adjusted EBITDA for the fourth quarter of fiscal 2011 was $19.9 million, compared to $17.6 million for the third quarter of fiscal 2011.
In addition to the financial report, Mitel also announced key changes to company strategy and organization. The new business strategy, according to Mitel CEO Richard McBee is aimed at simplifying the company’s business process. Under the new business strategy, the company is going to invest more on R&D initiatives for the mid-market.
The company reportedly launched three key business units: Mitel Communications Solutions, Mitel NetSolutions and Mitel DataNet. The company is also going to realign its sales and channel in the U.S. In addition Mitel’ partnership with VMware is expected to bring about an important differentiator for Mitel’s new and existing customers in the upcoming days.
“The changes to our business strategy and organization should enable us to align our cost structure, improve our execution and focus our investments in the high growth segments of our target market. Our outlook for the first quarter of 2012 reflects typical sequential seasonality. We remain focused on growth in full year fiscal 2011,” chief financial officer of Mitel Steve Spooner explained in a statement.
During the period, the company won major new customers as well. One of the new customers is Chicago Bears that implemented a complete Mitel UCC solution across its organization including the front office, ticket center, training facility and Soldier Field
Builders Hardware, one of the largest privately held architectural distribution companies in the US, selected the Mitel 5000 CP to network its offices in Pennsylvania and Ohio. Mitel UC solution was also chosen by JW Marriott Hotel & Convention Center at Indianapolis.
Through the financial report, Mitel also announced the availability of the version 5.0 of the Mitel 5000 Communications Platform (CP). Designed for small businesses with capacity up to 250 users, the latest version of Mitel communication platform can deliver significant new embedded applications functionality including Unified Voice Messaging, Meet-Me conferencing, embedded call handling statistics and reports and Hotdesking.
Madhubanti Rudra is a contributing editor for unified communications. To read more of her articles, please visit her columnist page.
Edited by Rich Steeves