Financial Highlights
Net loss for the third quarter of fiscal 2011 was
Non-GAAP net income for the third quarter of fiscal 2011 was
"In the third quarter we saw progress across many fronts," stated
Business Highlights
New York City Department of Education : a five-year$43 million contract awarded for communication systems and servicesQueensland Government Department of Education and Training inAustralia , which oversees over 1,000 schools- DCI of
New York State , a Mitel authorized PARTNER, who is implementing a hosted solution for the hospitality market based on Mitel's cloud-based software technology- Canadian Blood Services, a Canadian not-for-profit organization, implementing MCD and virtual UC applications.
- ONG&ONG, an architecture, design and engineering company based in
Singapore - the Vrije Universiteit (or VU -
Free University ) inAmsterdam for theAcademic Centre for Dentistry with 1,400 users on a Mitel virtualized communications solution.
- Partners announced: Artisan, Host.net and Hosting.com
- Partners announced: TwinState (Virtualized Voice Specialist), and Trans-West Network Solutions (Virtualized Voice Specialist, Mitel Contact Center Specialist and Mitel Unified Communications Specialist).
"We continued to take actions to reduce our cost structure going forward and improve our operational efficiencies," stated
Business Outlook
Mitel has set the following financial performance guidance for the fourth quarter of fiscal year 2011 ending
(1) Net earnings per share for the third quarter of fiscal 2010 includes a non-cash gain of
Conference Call Information
Mitel will host an investor conference call and live webcast today at
Adjusted EBITDA
Adjusted EBITDA is defined as consolidated net income (loss) before (1) interest expense, (2) income tax recovery, (3) amortization and depreciation, (4) foreign exchange gain (loss), (5) fair value adjustment on derivative instruments, (6) special charges and restructuring costs, and (7) stock-based compensation. For a reconciliation of Adjusted EBITDA to net income, the most directly comparable U.S. GAAP measure, see attached "Reconciliation of Net Income to Adjusted EBITDA."
Adjusted EBITDA is not a measure calculated in accordance with U.S. GAAP. Adjusted EBITDA should not be considered as an alternative to net income, income from operations or any other measure of financial performance calculated and presented in accordance with U.S. GAAP. We prepare Adjusted EBITDA to eliminate the impact of items that we do not consider indicative of our core operating performance. We encourage you to evaluate these adjustments and the reasons we consider them appropriate, as well as the material limitations of non-GAAP measures and the manner in which we compensate for those limitations. See "Selected Financial Data" in Mitel's Annual Report on Form 10-K, which has been filed with the
Non-GAAP Financial Measurements
To supplement our consolidated financial statements presented on a GAAP basis, Mitel uses non-GAAP measures of operating results, net income and income per share, which are adjusted to exclude certain costs, expenses, gains and losses we believe appropriate to enhance an overall understanding of our past financial performance and also our prospects for the future. These adjustments to our current period and comparative prior period GAAP results are made with the intent of providing both management and investors a more complete understanding of Mitel's underlying operational results and trends and our marketplace performance. For example, the non-GAAP results are an indication of our baseline performance before gains, losses or other charges that are considered by management to be outside of our core operating results. In addition, these adjusted non-GAAP results are among the primary indicators management uses as a basis for our planning and forecasting of future periods. The presentation of this additional information is not meant to be considered in isolation or as a substitute for net income or diluted net income per share prepared in accordance with generally accepted accounting principles in the U.S.
Forward-Looking Statements
Investors are cautioned that Mitel's historical performance has in the past deviated, in some cases materially, from its financial performance targets. Given that Mitel's sales occur disproportionately in the final weeks of a quarter, Mitel does not intend to update its financial performance targets during or after the quarter and will not comment or report on its fourth quarter results until after it releases its financial results for the fourth quarter of fiscal year 2011 and holds its conference call with respect to such results. Some of the statements in this press release, including the information regarding our financial performance targets for the fourth quarter of fiscal year 2011, are forward-looking statements within the meaning of applicable U.S. and Canadian securities laws. Statements that include the words "target," "outlook," "may," "will," "should," "could," "estimate," "continue," "expect," "intend," "plan," "predict," "potential," "believe," "project," "anticipate" and similar statements of a forward-looking nature, or the negatives of those statements, identify forward-looking statements. In particular, this press release contains forward-looking statements pertaining to, among other matters: our future economic performance, profitability and financial condition; general global economic conditions; our business strategy; plans and objectives for future operations; our industry and the growth in the markets in which we compete; the costs of operating as a public company; and our research and development expenditures. These forward-looking statements reflect currently available information or our current views with respect to future events and are based on assumptions and subject to risks and uncertainties. In making these statements, we have made assumptions regarding, among other things:
Actual events or Mitel's results, performance, financial position or achievements could differ materially from those contemplated, expressed or implied by such forward-looking statements as a result of various risks and uncertainties, including, without limitation:
Additional risks are discussed herein and under the heading "Risk Factors" in Mitel's Annual Report on Form 10-K, which has been filed with the
Parmi les leaders mondiaux dans le domaine des communications d’entreprise en rendant possibles plus de 2 milliards de connexions chaque jour, Mitel permet aux entreprises de se connecter, de collaborer et aux fournisseurs de services de proposer des services innovants à leurs clients.
Pour en savoir plus, visitez notre site https://www.mitel.com/fr-fr ou suivez-nous @Mitel_FR sur Twitter
Mitel est une marque déposée de Mitel Networks Corporation.
Toutes les autres marques sont la propriété de leurs détenteurs respectifs.