Sunday, January 6, 2008

ShoreTel Cuts Financial Guidance

Citing fewer sales to new customers, ShoreTel trimmed its financial guidance for the quarter ending 31-Dec-2007, saying it now expects revenue to be in the range of $29.7 to $30.7 million, lower than its previous expectation of $32 to $35 million. Gross margin percentage is expected to be within the guided range of 62 percent to 64 percent, and GAAP operating expenses are also expected to be within the previously guided range of $19 million to $20 million.

"Despite delivering the second highest revenue quarter in the Company's history, we fell short of our expectations. Our preliminary review indicates that sales to existing customers grew during the quarter, however, sales to new customers declined. We are still in the process of analyzing the factors affecting our results for the quarter and will discuss the results further when we hold our regularly scheduled earnings conference call at the end of January," said John W. Combs, president and CEO of ShoreTel.

Full results are expected 29-Jan-2008.

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