ShoreTel 4Q Loss Widens As Revenue Falls 6.7 Pct

SUNNYVALE, Calif. (AP) — ShoreTel Inc. on Thursday reported a wider loss for the fourth quarter than a year ago, as revenue fell 6.7 percent.

The telecommunications company lost $688,000, or 2 cents per share, compared with a loss of $47,000, or less than a penny per share, in the same quarter a year earlier.

Revenue came to $32.4 million, down from $34.7 million last year.

But excluding $2.2 million in stock-based compensation expenses, ShoreTel earned $1.3 million, or 3 cents per share, in the quarter.

The performance beat the penny-per-share in earnings analysts were expecting on average, according to Thomson Reuters. Revenue also exceeded analysts' forecast of $32.1 million.

For the year, ShoreTel lost $11.8 million, or 27 cents per share, which included $4.1 million in legal settlement costs and $8.9 million in stock-based compensation expenses.

Last year's profit was $2.6 million, or 6 cents, including $6.9 million in stock-based compensation costs.

Excluding these items, ShoreTel would have earned $1.2 million, or 3 cents per share, down from $9.3 million, or 21 cents, last year.

For the first quarter, ShoreTel is forecasting revenue of $30 million to $35 million, compared with the $33.2 million being forecast by analysts.

Shares of Sunnyvale, Calif.-based ShoreTel rose 7 cents to close at $7.80 Thursday.