ShoreTel reported record quarterly revenue of$85.6 million, an increase of 9 percent sequentially 9 percent year-over-year. Non-GAAP net income for the fourth quarter of fiscal year 2013 was $3.4 million, or $0.06 per share which excludes stock-based compensation charges, amortization of acquisition-related intangibles, other charges and related tax adjustments.
For its full 2013 fiscal year, revenue was a record of $313.5 million, up 27 percent from fiscal year 2012.
"Fiscal year 2013 showcased the first full year of cloud revenues from our ShoreTel Sky offering, which have been growing steadily over the last six quarters and were up 35% year-over-year in the fourth quarter,” said Peter Blackmore, CEO of ShoreTel. “We reported a very strong and profitable quarter with record revenues of $85.6 million, up 9% sequentially, driven by record premise revenues and the addition of nearly 1,200 new customers in the fourth quarter.” Blackmore continued, “With our continued focus on improving operating efficiencies and sales productivity we drove our non-GAAP operating expenses to 57% of revenue in the fourth quarter. Coupled with the projected growth in our target markets, we are positioned for continued profitability in fiscal 2014."
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