IP phone systems provider ShoreTel (News - Alert) has just revealed its revenue for the second quarter of fiscal year 2012, which ended Dec. 31, 2011, increased by 22 percent year over year from the second quarter of fiscal 2011.

The company’s total revenue for the second quarter of fiscal year 2012 was $58.0 million, a new record in the company’s history and an 8 percent increase from the first quarter of fiscal 2012.

While GAAP net loss for the second quarter of fiscal year 2011 was $3.7 million, or $0.08 per share, the same for the second quarter of fiscal 2012 was $2.5 million, or $0.05 per share, the company said in a press release.

"ShoreTel's record second quarter revenues reflect the positive momentum in our business and success in pursuing market share growth both domestically and internationally," said Peter Blackmore (News - Alert), president and CEO of ShoreTel, in a statement.

The growth is mainly attributed to the addition of new customers and several new industry partnerships the company signed during the quarter. During this period, the company also made significant investments in sales force, lead generation and marketing, Blackmore added.

In October, ShoreTel inked a new U.S. distribution relationship with Ingram Micro. In November, it expanded its distribution agreement with North American communications service provider Windstream (News - Alert). During the quarter, ShoreTel also extended its partnership with Hewlett Packard HP, making HP a reseller of the ShoreTel Mobility solution with ShoreTel Mobility becoming a part of HP's fixed mobile convergence solution portfolio.

In another major development in December, ShoreTel announced its Enterprise Contact Center had achieved VMware Ready status after successfully passing a detailed evaluation and testing process managed by VMware. 

At the end of the second quarter of 2012, the company had $115.9 million in cash, cash equivalents and short-term investments. During this quarter, the company earned over $6.1 million in cash from operations.

 In a related announcement, Blackmore said the company has signed a definitive agreement to acquire enterprise cloud UC provider M5 Networks (News - Alert). The addition of M5 Networks will further strengthen ShoreTel’s portfolio and help it to aggressively serve the highly lucrative hosted UC market.

“M5's premier technology platform, focus on customer satisfaction and simplicity make it an excellent fit both strategically and culturally,” Blackmore added. “This not only provides a strong cloud-based service offering for ShoreTel's customers but also benefits us with a recurring revenue stream that will give us greater predictability in our future revenues."

ShoreTel expects the revenue for the quarter ending March 31, 2012 to be in the range of $53 million to $57 million, excluding any impact from the pending acquisition of M5 Networks and related transaction costs.

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO East 2012, happening right now from Jan. 31-Feb. 3 2012, in Miami, FL. ITEXPO (News - Alert) offers an educational program to help corporate decision makers select the right IP-based voice, video, fax and unified communications solutions to improve their operations. It's also where service providers learn how to profitably roll out the services their subscribers are clamoring for – and where resellers can learn about new growth opportunities. For more information on registering for ITEXPO registration click here.

Stay in touch with everything happening at ITEXPO. Follow us on Twitter.