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ShoreTel Quarterly Report Shows Strong Gains

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ShoreTel experienced strong revenue gains and added a record number of customers during its third fiscal quarter financial report, released Tuesday.

For the quarter ending March 31, 2013, ShoreTel reported revenue of $78.3 million, up 39 percent from the same quarter last year. The non-GAAP net loss for the third quarter was $0.3 million, compared with a non-GAAP net loss of $1.5 million, or a loss of $0.03 per share, in the third quarter of fiscal 2012.

Peter Blackmore, ShoreTel CEO, highlighted the growth of both the company’s premise IP telephony products and its cloud-based offerings.

“With both of our business lines thriving, we delivered non-GAAP operating profitability for the company,” said Peter Blackmore, CEO of ShoreTel, said in a statement. “ShoreTel Sky generated a 28 percent year-over-year increase in revenue, signed a record number of new customers, and continues to have a best-in-class customer retention rate.”