U.S. Markets closed

ShoreTel reports 4Q loss

SUNNYVALE, Calif. (AP) _ ShoreTel Inc. (SHOR) on Wednesday reported a loss of $956,000 in its fiscal fourth quarter.

The Sunnyvale, California-based company said it had a loss of 1 cent per share. Earnings, adjusted for severance costs and stock option expense, came to 7 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.

The maker of internet phone and messaging systems posted revenue of $95.7 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $90.7 million.

For the year, the company reported that its loss widened to $12.4 million, or 18 cents per share. Revenue was reported as $357.8 million.

ShoreTel shares have risen roughly 5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $7.50, a rise of 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 SHOR at https://www.zacks.com/ap/SHOR

_____

Keywords: ShoreTel, Earnings Report