Tuesday, January 26, 2010

ShoreTel Reports Sequential Revenue Growth

ShoreTel reported quarterly revenue of $35.5 million, up 5 percent sequentially and up slightly from the same period last year. GAAP net loss was $(2.5) million, or $(0.06) per share, compared to a GAAP net loss of $(2.3) million, or $(0.05) per share, reported in the same period last year. GAAP gross margins for the second quarter of fiscal year 2010 were a record 64.5 percent, compared with 63.1 percent during the same quarter last year.

"We are seeing solid growth and an improving market even before the benefits of our strategic investments in sales, R&D, and branding are realized. We are very pleased with our second quarter performance, having outperformed our revenue and earnings expectations, posted our all-time highest gross margins, and grown our cash and short-term investments by $3.5 million while making significant investments in our business," stated John W. Combs, chairman and chief executive officer of ShoreTel.