ShoreTel, Inc. (NASDAQ:SHOR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
ShoreTel, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.06 in the quarter versus EPS of $0.00 in the year-earlier quarter.
Revenue: Rose 9.1% to $85.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: ShoreTel, Inc. reported adjusted EPS income of $0.06 per share. By that measure, the company beat the mean analyst estimate of $0.02. It beat the average revenue estimate of $82.96 million.
Quoting Management: “Fiscal year 2013 showcased the first full year of cloud revenues from our ShoreTel Sky offering, which have been growing steadily over the last six quarters and were up 35% year-over-year in the fourth quarter,” said Peter Blackmore, CEO of ShoreTel. “We reported a very strong and profitable quarter with record revenues of $85.6 million, up 9% sequentially, driven by record premise revenues and the addition of nearly 1,200 new customers in the fourth quarter.” Blackmore continued, “With our continued focus on improving operating efficiencies and sales productivity we drove our non-GAAP operating expenses to 57% of revenue in the fourth quarter. Coupled with the projected growth in our target markets, we are positioned for continued profitability in fiscal 2014.”
Key Stats (on next page)…