ShoreTel Reports Financial Results for Q3-2011

By Neil Zawacki
Updated: April 29, 2011

ShoreTel Reports Financial Results for Q3-2011

ShoreTel recently released their financial results for the third quarter fiscal year 2011. They stated the total revenue for the company was $51.6 million, a 39 percent increase from the previous year. They also declared that the GAAP gross margin for the third quarter was 68 percent and that they currently had $102.6 million in cash, cash equivalents, and short-term investments available.

The financial report noted operational highlights of the third quarter, including the expanded partnership between ShoreTel and Polycom. This partnership will combine their proprietary technology to create an integrated telepresence system that lowers the cost of ownership and substantially decreases the bandwidth requirements for high definition video. Other highlights of the third quarter include the ShoreTel Partner Program being awarded five stars by CRN’s Partner Programs Guide and the appointment of Donald Joos to Vice President of Global Services.

The company predicts the overall revenue for the next quarter to be somewhere between $53 million to $56 million, with a GAAP gross margin around 66 to 67 percent. The GAAP operating expenses are expected to be between $38 and 39 million, including $2.5 million that is related to stock-based compensation and the distribution of acquisition-related intangibles.

ShoreTel is a major provider of hardware and software designed to promote unified communications in small and mid-size businesses. Their full range of products includes IP phones, mobility routers, conference bridges, contact center software, and several user applications.

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