Mitel (MITL) Cuts Q113 Sales Outlook
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Mitel (Nasdaq: MITL), announced that it expects revenue for the quarter ended July 31, 2012 to be in the range of $138 million - $139 million, compared to the previously provided range of $150 million to $155 million.
The Street sees revs of $153.5 million.
"Our results reflect orders booked that did not ship in the quarter, implementation delays on several customer projects and a general deterioration in the macro environment," said Richard McBee, chief executive officer, Mitel. "We remain confident in our strategy and product leadership, however we are taking immediate actions to size the business cost structure consistent with our broader macroeconomic concerns."
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The Street sees revs of $153.5 million.
"Our results reflect orders booked that did not ship in the quarter, implementation delays on several customer projects and a general deterioration in the macro environment," said Richard McBee, chief executive officer, Mitel. "We remain confident in our strategy and product leadership, however we are taking immediate actions to size the business cost structure consistent with our broader macroeconomic concerns."
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