ShoreTel reported revenue for its fourth fiscal quarter, ended June 30, 2008, of $34.7 million, an increase of 10 percent over the third fiscal quarter and an increase of 20 percent over the fourth quarter of 2007. GAAP gross margin for the fourth quarter of 2008 improved to 62.5 percent from 62.0 percent in the third quarter. GAAP net loss was $47,000, or $(0.00) per share, in the fourth quarter of 2008 compared to a loss of $1.7 million, or $(0.04) per share, in the third quarter and net income of $1.9 million, or $0.05 per diluted share, in the fourth quarter of 2007. GAAP results in the fourth quarter of 2008 included $2.0 million in stock-based compensation expenses, compared to $633,000 in the fourth quarter of 2007.
“We are pleased to have delivered solid fiscal year growth of 32 percent over last year and to have ended our fiscal year with record fourth quarter revenue that grew by 10 percent sequentially,” said John W. Combs, chairman and CEO of ShoreTel. http://www.shoretel.com
