Avaya hires advisers to look at capital structure

Nieuws Breedband Wereld 17 MAY 2016
Avaya hires advisers to look at capital structure

Avaya announced it's hired advisers to look at improving its capital structure. Goldman Sachs and Centerview Partners will "assess alternatives and evaluate expressions of interest which address the company’s capital structure", in order to improve the balance sheet. The announcement came alongside results for the fiscal second quarter to March showing the group is still struggling with the transition from hardware to software and the pressure in the business communications market. 

Revenues fell by USD 91 million compared to a year ago to USD 904 million, and adjusted EBITDA dropped to USD 205 million from USD 208 million. Adjusted operating profit was flat year-on-year at USD 162 million. While the unified communications market continued to contract, revenue in contact center and cloud and managed services grew year-over-year, and margins were up annually thanks to an improving product mix and cost reduction initiatives, said CEO Kevin Kennedy. 

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