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Mitel Networks Corp (MITL) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 30, 2018

Mitel Networks Corp

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CIK: 1170534 Ticker: MITL

Exhibit 99.1

 

LOGO       Media Release

OTTAWA, August 1, 2018

Mitel Reports Second Quarter Results

Recurring clouds seats now exceed 1.2 million

Gartner names Mitel to the Unified Communications Leadership Quadrant for the 5th consecutive year

Mitel® (Nasdaq:MITL) (TSX:MNW), a global leader in business communications, today announced financial results for the second quarter ended June 30, 2018.

Financial Highlights

 

In millions

(except per share data)

    Q2 2018      Q2 2017  

GAAP Revenues

    $ 324.7      $ 238.6  

GAAP Net Income (Loss)

    $ 15.4      ($ 0.1 ) 

GAAP EPS – diluted

    $ 0.12      $ 0.00  

Business Highlights

 

  •  

Recurring clouds seats grew by 50,037 seats during the quarter and now total 1,209,546.

 

  •  

A large US-based automobile services company converted 4,000 seats of its ShoreTel-based system to MiCloud Flex. It also added a 50-agent contact center. The total value of the contract was $2.5 million.

 

  •  

University of Arkansas for Medical Sciences converted its Avaya and Microsoft on-site solution with MiVoice Business. The total value of the contract was $2.0 million.

 

  •  

At Google Next event being held in San Francisco, Mitel announced an integration with Google Cloud’s new Contact Center AI. In doing so, Mitel combines multiple AI products in a simple, secure, and flexible solution that allows enterprises with limited machine learning expertise to deploy AI in their contact centers.

 

  •  

For the fifth consecutive year, Gartner has named Mitel a Leader in the Gartner Magic Quadrant for Unified Communications.

 

  •  

Mitel announced a pan-international partnership with Westcon-Comstor to distribute Mitel’s entire portfolio of communications and collaboration solutions across the EMEA and South Pacific markets.

 

The following information was filed by Mitel Networks Corp (MITL) on Wednesday, August 1, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Mitel Networks Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

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Inside Mitel Networks Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Operations
Consolidated Statements Of Shareholders' Equity
Accounts Payable And Accrued Liabilities
Accounts Payable And Accrued Liabilities (Detail)
Accounts Payable And Accrued Liabilities (Tables)
Acquisitions
Acquisitions (Tables)
Acquisitions - Additional Information (Detail)
Aging Analysis Of Financing Receivables (Detail)
Amount Of Gross Sales-Type Leases Individually And Collectively Evaluated For Impairment (Detail)
Basic And Diluted Weighted Average Common Shares Outstanding As Required For Earnings Per Share Calculations (Detail)
Basis Of Presentation
Carrying Value Of Warrants Outstanding (Detail)
Carrying Value Of Warrants Outstanding (Parenthetical) (Detail)
Commitments, Guarantees And Contingencies
Commitments, Guarantees And Contingencies - Additional Information (Detail)
Discontinued Operations And Assets Held For Sale
Discontinued Operations And Assets Held For Sale (Tables)
Discontinued Operations And Assets Held For Sale - Additional Information (Detail)
Hedging Activities
Hedging Activities - Additional Information (Detail)
Identifiable Intangible Assets
Identifiable Intangible Assets (Detail)
Identifiable Intangible Assets (Tables)
Income Tax
Income Taxes - Additional Information (Detail)
Inventories
Inventories (Detail)
Inventories (Parenthetical) (Detail)
Inventories (Tables)
Long-Term Debt
Long-Term Debt (Detail)
Long-Term Debt (Parenthetical) (Detail)
Long-Term Debt (Tables)
Long-Term Debt - Additional Information (Detail)
Maximum Leverage Ratio Under Term Loan Agreement (Detail)
Net Investment In Sales-Type Leases
Net Investment In Sales-Type Leases (Tables)
Net Investment In Sales-Type Leases - Additional Information (Detail)
Net Periodic Benefit Cost (Detail)
Other Current Assets
Other Current Assets (Detail)
Other Current Assets (Parenthetical) (Detail)
Other Current Assets (Tables)
Pension Plans
Pension Plans (Tables)
Pension Plans - Additional Information (Detail)
Product, Service And Cloud Recurring Revenues And Gross Margin For Company's Operating Segment (Detail)
Related Party Transactions
Related Party Transactions - Additional Information (Detail)
Restructuring, Integration And Acquisition-Related Costs
Restructuring, Integration And Acquisition-Related Costs (Tables)
Restructuring, Integration And Acquisition-Related Costs - Additional Information (Detail)
Revenues From External Customers By Geography (Detail)
Sales-Type Leases (Detail)
Schedule Of Assets And Liabilities Held For Sale (Detail)
Schedule Of Maximum Leverage Ratio And Actual Leverage Ratio (Detail)
Securities Excluded From Computation Of Diluted Earnings Per Share (Detail)
Segment Information
Segment Information (Tables)
Share Capital
Share Capital (Tables)
Share Capital - Additional Information (Detail)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Significant Accounting Policies - Additional Information (Detail)
Stock Option Activity (Detail)
Stock Option Activity (Parenthetical) (Detail)
Subsequent Event
Subsequent Event - Additional Information (Detail)
Summary Of Change In Provision For Special Charges And Restructuring Costs (Detail)
Supplementary Cash Flow Information
Supplementary Cash Flow Information (Detail)
Supplementary Cash Flow Information (Tables)
Supplementary Cash Flow Information - Additional Information (Detail)
Unaudited Proforma Financial Information (Detail)
Warrants
Warrants (Tables)
Weighted Average Common Shares Outstanding
Weighted Average Common Shares Outstanding (Tables)
Weighted Average Common Shares Outstanding - Additional Information (Detail)

Material Contracts, Statements, Certifications & more

Mitel Networks Corp provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Exhibit 32.2: Section 1350 Certification
Ticker: MITL
CIK: 1170534
Form Type: 10-Q Quarterly Report
Accession Number: 0001193125-18-234963
Submitted to the SEC: Wed Aug 01 2018 4:22:24 PM EST
Accepted by the SEC: Wed Aug 01 2018
Period: Saturday, June 30, 2018
Industry: Radio And Tv Broadcasting And Communications Equipment

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