Mitel's fiscal Q4 profit drops 80%

Friday, July 1, 2011

Unified communications and collaboration (UCC) software solutions provider Mitel (Nasdaq: MITL) posted net income of US$4.4mn in the fourth quarter of fiscal 2011, ended April 30, an 80% drop compared to US$22.0mn in the same period last year, the company said in a statement.

But for full fiscal 2011, net income was US$88.1mn, a 137% jump compared to US$37.2mn in fiscal 2010.

Revenue for the fourth quarter increased 1.64% to US$167mn, but a 26.2% boost in expenses to US$76.1mn dragged on the bottom line.

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For the whole fiscal year, revenues increased slightly, up 0.30% to US$650mn.

Adjusted Ebitda for fiscal 4Q11 was US$19.9mn and US$76.1mn for the full year, compared to US$25.6mn and US$89.8mn, respectively.

The company expects revenues in the range of US$158mn-162mn for the first quarter of fiscal 2012.

Mitel provides communications solutions for a range of organizations. It has over 100 locations in more than 90 countries. The company offers communications solutions in the education, retail, financial services and automotive areas, among others.

Use this link to see the full statement.