Shoretel names Don Joos as CEO; also beat Q4 estimates
Following a pattern of slipping in news about chief executives during earnings announcements lately, Shoretel followed suit on Thursday.
See also: Juniper Networks hits Q2 earnings, revenue targets; CEO stepping down | Earnings roundup: Polycom's CEO resigns; Compuware, Broadcom also report
The unified communications provider has named Don Joos as its new president and CEO.
Joos joined ShoreTel in April 2011 as vice president of global services. He most recently served as senior vice president of business operations.
During his time at ShoreTel, Joos has been in charge of overseeing approximately 50 percent of the company operations through the direct management of engineering, research and development, product management, global support and services, IT, quality and operations.
Prior to his move to ShoreTel, Joos spent nine years as a company vice president at Avaya. Previous places of employment also on his resume include Williams Communication Solutions, Nortel Communication Solutions and Marshalls Inc.
Joos succeeds Peter Blackmore, who served as president and CEO at Shoretel since December 2010. He announced his retirement in May 2013.
Shoretel reps asserted that Blackmore nearly doubled the company's revenue while scaling global operations during his tenure.
Looking forward, the new CEO's agenda will be focused on prepping its unified communications portfolio for the cloud.
But as for the present, there's also the fiscal fourth quarter earnings report.
Shoretel reported a net loss of $2.3 million, or four cents per share (statement). Non-GAAP earnings were six cents per share on a revenue of $85.6 million, up nine percent both sequentially and annually.
Wall Street was looking for earnings of two cents per share and revenue of $82.96 million.
For fiscal 2013, revenue was $313.5 million, up 27 percent from 2012, with a non-GAAP net loss of three cents per share.
For the fiscal first quarter of 2014, Wall Street is looking for revenue of $79.53 million but also a loss at one cent per share.
Shoretel is projecting Q1 revenue to be in the range of $77 million to $83 million.
Chart via Shoretel Investor Relations