Mitel Corp, Canadian producer of semiconductors for the communications industry, has reported second quarter net profit to September 24 down 2% at $12.5m on revenue that rose fractionally to $348.8m. The Ottawa-based company recorded six-monthly net profit down 71.1% at $7.9m on revenue that fell 3% to $660m. Earnings per share were unchanged at $0.10 for the quarter, falling for the half by 78.2% to $0.23.
President and CEO Kirk Mandy drew attention to the Communications Systems division, which grew by 4% to $209.4m, buoyed by US demand for enterprise voice systems. Mandy blamed the economic depression in the Asia-Pacific region for reduced sales of semiconductors, which fell 4% to $139.4m.
