These tech stocks have gains ahead

Article Excerpt

MITEL NETWORKS $9.45 (Toronto symbol MNW; TSINetwork Rating: Extra Risk) (613-592-2122; www.mitel. ca; Shares outstanding: 120.0 million; Market cap: $1.1 billion; No dividends paid) makes technology that integrates landlines and mobile phones. The company also offers callcentre and videoconferencing products. In the quarter ended September 30, 2017, Mitel’s sales rose 2.3%, to $241.5 million from $234.5 million a year earlier (all figures except share price in U.S. dollars). Earnings per share jumped 33.3%, to $0.16 from $0.12. The gains were in large part due to Mitel’s purchase of ShoreTel Inc. in July 2017 for $530 million U.S. The two operations complement each other: Ottawabased Mitel provides business phone systems and communications- focused software; and ShoreTel, based in Sunnyvale, California, makes phone and contact-centre systems and software. ShoreTel does more than 90% of its business in the U.S., which lets Mitel quickly expand its phone and contactcentre systems business in that market. As well, Mitel has increasingly moved toward cloud-based products. That’s where software and…

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