Please refer to the GAAP to non-GAAP reconciliation tables in this release and a discussion of the use of non-GAAP measures under the heading, "Non-GAAP Financial Measurements" below.Business Unit Results
- Mitel Communications Solutions revenues for the third quarter of fiscal 2013 were $117.9 million, compared to $127.2 million for the third quarter of fiscal 2012. Operating margin was consistent with the prior year's quarter.
- Mitel NetSolutions revenues for the third quarter of fiscal 2013 grew 4% to $21.0 million from the same quarter of 2012. Operating margin was consistent with the prior year's quarter.
- Continued growth of Mitel's cloud customer base with more than 30,000 new cloud users added in the third quarter, bringing the total installed base to more than 228,000 cloud users.
- Recognized by Frost & Sullivan with the 2013 North America Award for Product Leadership for pioneering product developments in real-time communications software virtualization, which is a capability critical to enabling customers to migrate their business communications to the cloud.
- Introduction of Mitel Communications Director 6.0 with enhancements to the user experience, improvements for cloud environments, new features for financial services and education markets, and simplified installation.
- Revenue from continuing operations is expected to be in the range of $143 to $148 million.
- Gross margin percentage from continuing operations is expected to be in the range of 55.0 to 56.0 percent.
- Non-GAAP operating expenses as a percentage of revenue from continuing operations are expected to be in the range of 41.5 to 42.5 percent. Non-GAAP operating expenses include SG&A and R&D expenses but exclude estimated amortization of $5.5 million for acquisition-related intangible assets and estimated stock-based compensation expense of $1.1 million.