Mitel Supplements Preliminary Third Quarter Fiscal Results
Adjusted EBITDA Expected to be in the Range of $21.0M - $22.5M
OTTAWA, Ontario, Feb. 15, 2013 (GLOBE NEWSWIRE) -- Mitel® (Nasdaq:MITL) (TSX:
MNW), a leading provider of cloud and premises-based unified communications
software solutions, today announced that for the third quarter of fiscal 2013,
ended January 31, 2013, adjusted EBITDA is expected to be in the range of
$21.0M - $22.5M. Today's announcement provides supplemental detail to certain
preliminary third quarter financial results released on February 11, 2013.
Preliminary third quarter financial results are being disclosed in conjunction
with Mitel's ongoing market discussions with potential lenders related to the
refinancing of its existing senior secured credit facilities. Mitel routinely
monitors the credit markets to evaluate the merits of refinancing its senior
secured credit facilities and from time to time explores available options.
Preliminary and Unaudited Results
The financial results presented above are preliminary and subject to
completion. Mitel's expectations with respect to these unaudited results are
based upon management estimates and information available at this time. As a
result, these preliminary results may be different from the actual results
that will be reflected in Mitel's consolidated financial statements for the
quarter when they are released.
This release includes references to non-GAAP financial measures. Non-GAAP
measures are among the primary indicators management uses as a basis for our
planning and forecasting of future periods. Investors are cautioned that
non-GAAP financial measures should not be relied upon as a substitute for
financial measures prepared in accordance with generally accepted accounting
principles. The estimate of adjusted EBITDA provided in this release has been
determined consistent with the methodology for calculating adjusted EBITDA as
set forth in Mitel's Form 10-K for the fiscal year ended April 30, 2012. A
reconciliation of preliminary adjusted EBITDA to preliminary net income, the
closest comparable GAAP financial measure, is not practical at this time.
Mitel will provide a reconciliation of adjusted EBITDA to net income for the
third quarter ended January 31, 2013 when Mitel issues its normal earnings
release for those periods.
Mitel® (Nasdaq:MITL) (TSX:MNW) is a global provider of unified communications
and collaboration (UCC) software, solutions and services that enable
organizations to conduct business anywhere, over any medium with the device of
their choice. Through a single cloud-ready software stream, Mitel's Freedom
architecture provides customers in over 100 countries the flexibility and
simplicity needed to support today's dynamic work environment. For more
information visit www.mitel.com.
The Mitel Networks Corporation logo is available at
Certain of the statements included in this press release constitute
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933 and Section21E of the Securities Exchange Act of 1934. These
forward-looking statements include adjusted EBITDA guidance and other
statements regarding the Registrant's expectations, assumptions and beliefs.
Actual results may differ materially from those presented in forward-looking
statements. Forward-looking information is intended to help you understand
management's current views of the Registrant's future prospects, and it may
not be appropriate for other purposes. Except as required by law, the
Registrant will not necessarily update forward-looking statements.
Mitel and the Mitel logo are registered trademarks of Mitel Networks
All other trademarks are the property of their respective owners.
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