Mitel Networks Bid Lower on Q3 Results

Shares of Mitel Networks MITL are trading lower in the after-hours following the release of the company's Q3 earnings results. Currently, shares are bid $3.20, at $3.75; they ended the regular session lower by 5.13%, at $3.70. Mitel Networks reported Q3 EPS of $0.08 on revenues of $150.5 million. Revenues increased 5% year over year. "We are pleased to have delivered revenue, gross margin and non-GAAP operating expenses that were in line with or better than guidance," said Richard McBee, chief executive officer, Mitel. "Furthering our strategy to simplify our business and streamline our organization, in the third quarter we made the decision to pursue the sale of our DataNet/CommSource business unit. We remain focused on our core business where demand remains solid for our Mitel solutions and our broad suite of virtualized UC applications software." Mitel Networks Corporation is a provider of integrated communications solutions focused on the small-to-medium sized enterprise