SUNNYVALE, CA, November 5, 2008 - ShoreTel, Inc., (NASDAQ: SHOR), a leading provider of Pure IP Unified Communications (UC) solutions, has been named to Deloitte's Technology Fast 50 Program for Silicon Valley Internet, media, entertainment and communications companies. This prestigious listing highlights the 50 fastest growing technology companies in the region, with rankings based on the percentage of revenue growth over five years. ShoreTel recently announced record revenues for the first fiscal quarter of 2009, and grew by 851 percent over the period covered by the listing, from fiscal year 2003 to 2007.
This year's Silicon Valley Technology Fast 50 program is co-presented by Deloitte, Silicon Valley Bank, Korn/Ferry International, Cooley Godward Kronish LLP, Cornish & Carey Client Solutions, and ABD Insurance and Financial Services - a Wells Fargo Company.
- Over the five years from fiscal year 2003-2007, ShoreTel has grown revenue by 851 percent.
- ShoreTel recently announced record revenues of $35.9 million for the first fiscal quarter of 2009 - a 12 percent increase over the first quarter of 2008 and a three percent increase over the prior quarter.
- ShoreTel attributes the company's fast growth to its raving fans, who love ShoreTel's:
- Ease of deployment and use
- Excellent product design
- UC industry's lowest TCO
- ShoreTel was also recently named the Best Overall VOIP Provider for the fifth year in a row by Nemertes Research.
- Companies from the regional Technology Fast 50 programs in the United States and Canada are automatically entered in Deloitte's Technology Fast 500 program, which ranks North America's top 500 fastest growing technology, media, telecommunications and life sciences companies. For more information on Deloitte's Technology Fast 50 or Technology Fast 500 programs, visit www.fast500.com.
"Deloitte's Silicon Valley Technology Fast 50 companies have shown the strength, vision and tenacity to succeed in today's very competitive technology environment. We applaud the successes of ShoreTel and acknowledge it as one of the very few to accomplish such a fast growth rate over the past five years."
- Mark Jensen, managing partner, National Venture Capital Services, Deloitte & Touche LLP in Silicon Valley
"You don't sustain five years of fast growth in a highly competitive environment without doing several things right. ShoreTel combines highly reliable, innovative technology with a business model that ensures the lowest possible total cost of ownership-factors that are vital to the success of our customers during the current economic climate. At ShoreTel, we start by listening to our customers to make sure we're delivering solutions that fit their specific needs and infrastructure, enhance productivity, and cut costs. Our mission is to develop products that go beyond simply 'working as advertised' and instead delight our customers with their ease of use and high performance. ShoreTel's growth not only comes from our ability to win new customers, but from our ability to turn those customers into 'raving fans' who continue to build their systems using our scalable solutions."
- John W. Combs, chairman, president and CEO, ShoreTel
About ShoreTel, Inc.
ShoreTel, Inc., (NASDAQ: SHOR) is a leading provider of Pure IP unified communications solutions. ShoreTel enables companies of any size to seamlessly integrate all communications - voice, video, messaging and data - with their business processes. Independent of device or location, ShoreTel's distributed software architecture eliminates the traditional costs, complexity and reliability issues typically associated with other solutions. ShoreTel continues to deliver the highest levels of customer satisfaction, ease of use and manageability while driving down the overall total cost of ownership. ShoreTel is headquartered in Sunnyvale, California, and has regional offices in Austin, Texas, the United Kingdom, Sydney, Australia and Munich, Germany. For more information, visit www.shoretel.com or call 1-800-425-9385.