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

Mitel Networks Corp

CIK: 1170534 Ticker: MITL

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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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)
Arrangement Agreement
Arrangement Agreement - Additional Information (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 (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)
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

Ticker: MITL
CIK: 1170534
Form Type: 10-Q Quarterly Report
Accession Number: 0001193125-18-306391
Submitted to the SEC: Wed Oct 24 2018 4:16:51 PM EST
Accepted by the SEC: Wed Oct 24 2018
Period: Sunday, September 30, 2018
Industry: Radio And Tv Broadcasting And Communications Equipment

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