Mitel Networks Q1 Loss Widens; Issues Q2 Revenue Outlook

(RTTNews) - Mitel Networks Corp. (MITL) Thursday reported first-quarter net loss of $3.8 million, or $0.07 per share, wider than $2.1 million, or $0.04 per share in the prior year quarter.

Non-GAAP net income from continuing operations for the latest first quarter was $9.3 million, or $0.17 per share, up from $4.5 million, or $0.08 per share in the comparable quarter last year.

On average, five analysts polled by Thomson Reuters expected the company to earn $0.15 per share for the quarter. Analysts' estimates typically exclude special items.

First quarter revenues declined to $141.6 million from $138.5 million last year, while five analysts expected revenues of $143.50 million.

Looking ahead to the second quarter of 2014, the company has forecast revenues in the range of $142 million to $148 million. Analysts currently expect revenues of $149.40 million for the second quarter.