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Shares of Mitel Networks (MITL +27%) soar in a post-earnings relief rally and a flurry of...
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Friday, December 2, 2011, 11:13 AM ETShares of Mitel Networks (MITL +27%) soar in a post-earnings relief rally and a flurry of short-covering - having lost 56% of its value over the past year - after its FQ2 easily beat estimates. Special charges and the acceleration of planned restructuring costs masked a 4.8% Y/Y increase in revenue growth, as its bottom line benefited from cost cutting and a jump in gross margins to 49.9%.
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