Exhibit 99.1

 

LOGO    Media Release

OTTAWA, October 24, 2018

Mitel Reports Third Quarter Results

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

Financial Highlights

 

In millions

(except per share data)

   Q3 2018      Q3 2017  

GAAP Revenues

   $ 309.6      $ 241.5  

GAAP Net Income (Loss)

   $ (6.7    $ (26.8

GAAP EPS – diluted

   $ (0.05    $ (0.23

Business Highlights

 

   

Recurring clouds seats grew 23% year-over-year. During the quarter, Mitel added 46,490 seats bringing the total recurring seats installed to 1,256,036.

   

Mitel launched MiCloud Engage Contact Center, a Contact Center-as-a-Service (CCaaS) platform that works with any call control platform and integrates with a wide range of third-party CRM applications entirely over-the-top with no software or equipment to deploy. It also supports remote workers, including a fully-virtualized workforce and with rapid scalability, giving seasonal businesses the option of quickly scaling up or down simply to accommodate demand.

   

A US-based financial services company converted from Avaya to MiCloud Engage Contact Center to support 400 agents in a contract valued at $1.5 million.

   

Won a unified communications deal worth approximately $8 million with a large university medical center based in the Southern United States to upgrade 9,600 users, including 600 contact center agents, with Mitel’s MiVoice Business and MiContact Center Business technology.

   

A national government agency in Italy upgraded its unified communications systems when it replaced the existing Unify platform with Mitel’s MiVoice MX-ONE technology.

   

At the Mitel Next Americas event held in Phoenix the company hosted more than 800 partners, customers, analysts, consultants, and media. The event featured presentations highlighting Mitel’s strategic initiatives in the coming year. Featured speakers included San Francisco Giants Senior VP & CIO, Bill Schlough; Google Cloud Leader of Interactive & Conversational AI Products, Adam Champy; and renowned visionary & bestselling author, Geoffrey Moore.


The following information was filed by Mitel Networks Corp (MITL) on Wednesday, October 24, 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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