Louis D’Ambrosio becomes president and CEO, replacing Donald Peterson, who will remain on the company’s board of directors until the end of September.
Avaya, which makes networking equipment, said it earned $44m in the quarter, down 77% from $194m a year ago.
While $123m of the year-ago earnings came from a one-off tax benefit, the company still missed analysts’ targets of $0.12 per share by two cents.
Revenue was up, however, almost 5% to $1.30bn, $40m better than the same analysts polled by Reuters had been expecting. The earnings miss was blamed on higher costs.
Garry McGuire, CFO, said in a statement that sales were driven primarily by IP line shipments, up 23%, and a 15% climb in the US.
As well as swapping CEOs, Avaya name Michael Thurk, president of its Global Communications Solutions group, as its COO, apparently a newly created position.
