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Mitel Networks reports 1Q loss

OTTAWA, Ontario (AP) _ Mitel Networks Corp. (MITL) on Wednesday reported a loss of $21.1 million in its first quarter.

The Ottawa, Ontario-based company said it had a loss of 17 cents per share. Earnings, adjusted for non-recurring costs and to account for discontinued operations, came to 9 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.

The business communications and collaboration software maker posted revenue of $223.1 million in the period.

Mitel Networks shares have climbed 1 percent since the beginning of the year. The stock has risen nearly 1 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MITL at https://www.zacks.com/ap/MITL


Keywords: Mitel Networks, Earnings Report