Mitel sales up 11% in Q2, profits better than expected
UC communications provider Mitel reported second-quarter revenues up 11 percent year-over-year to USD 307 million. Recurring cloud seats grew by 31,000 during the quarter, up from 18,000 seats added during Q1, and totalled 451,000 seats at the end of June. The company's gross margin improved by 200 basis points to 56.1 percent, and adjusted EBITDA rose 43 percent on a pro forma basis to USD 46 million. The net loss narrowed slightly to USD 10.8 million from USD 11.6 million, and adjusted EPS increased to US