Mitel Networks (MITL) 8-K Consolidated Statements of Operations

Exhibit 99.1

MAVENIR SYSTEMS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(in millions of U.S. dollars, except per share amounts)

(unaudited)

	Quarter Ended March 31, 2014			Quarter Ended June 30, 2014			Quarter Ended September 30, 2014			Quarter Ended December 31, 2014			Year Ended December 31, 2014			Quarter Ended March 31, 2015			Month Ended April 29, 2015(1)
Revenues	$	28.7		$	33.3		$	34.1		$	33.7		$	129.8		$	27.5		$	5.9
Cost of revenues		12.5			14.5			15.8			14.9			57.7			14.6			4.0
Gross margin		16.2			18.8			18.3			18.8			72.1			12.9			1.9
Expenses:
Selling, general and administrative		11.8			13.3			13.7			17.0			55.8			18.2			7.8
Research and development		6.1			7.2			8.0			9.2			30.5			10.6			4.2
Special charges and restructuring costs		—			—			—			0.8			0.8			3.9			12.8
Amortization of intangible assets		0.5			0.5			0.5			0.6			2.1			1.0			0.2
		18.4			21.0			22.2			27.6			89.2			33.7			25.0
Operating loss		(2.2	)		(2.2	)		(3.9	)		(8.8	)		(17.1	)		(20.8	)		(23.1	)
Interest expense		(0.8	)		(0.4	)		(0.4	)		(0.5	)		(2.1	)		(0.5	)		(0.1	)
Debt and warrant retirement costs		(1.8	)		—			—			—			(1.8	)		—			(0.6	)
Other income (expense)		0.8			(0.8	)		(2.2	)		(2.3	)		(4.5	)		(2.7	)		0.6
Income before income taxes		(4.0	)		(3.4	)		(6.5	)		(11.6	)		(25.5	)		(24.0	)		(23.2	)
Current income tax recovery (expense)		(0.1	)		(0.4	)		0.1			(0.7	)		(1.1	)		(1.1	)		(0.1	)
Deferred income tax recovery (expense)		—			—			0.6			—			0.6			—			—
Net loss	$	(4.1	)	$	(3.8	)	$	(5.8	)	$	(12.3	)	$	(26.0	)	$	(25.1	)	$	(23.3	)
Net loss per common share—Basic	$	(0.17	)	$	(0.16	)	$	(0.21	)	$	(0.43	)	$	(1.00	)	$	(0.87	)	$	(0.80	)
Net loss per common share—Diluted	$	(0.17	)	$	(0.16	)	$	(0.21	)	$	(0.43	)	$	(1.00	)	$	(0.87	)	$	(0.80	)
Weighted-average number of common shares outstanding (in millions):
Basic		23.4			24.2			27.4			28.3			26.0			29.0			29.0
Diluted		23.4			24.2			27.4			28.3			26.0			29.0			29.0

(1) Represents the operations of Mavenir up to the date of acquisition of April 29, 2015.

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MAVENIR SYSTEMS, INC.

Reconciliation of Net Loss to Non-GAAP Loss

(in millions of U.S. dollars, except per share amounts)

(unaudited)

	Quarter Ended March 31, 2014			Quarter Ended June 30, 2014			Quarter Ended September 30, 2014			Quarter Ended December 31, 2014			Year Ended December 31, 2014			Quarter Ended March 31, 2015			Month Ended April 29, 2015(1)
Net loss	$	(4.1	)	$	(3.8	)	$	(5.8	)	$	(12.3	)	$	(26.0	)	$	(25.1	)	$	(23.3	)
Income tax expense (recovery)		0.1			0.4			(0.7	)		0.7			0.5			1.1			0.1
Net loss before income taxes		(4.0	)		(3.4	)		(6.5	)		(11.6	)		(25.5	)		(24.0	)		(23.2	)
Adjustments:
Foreign exchange loss (gain)		(0.8	)		0.8			2.2			2.5			4.7			2.7			(0.6	)
Purchase accounting adjustments relating to revenue		—			—			—			—			—			0.8			0.1
Special charges and restructuring costs		—			—			—			0.8			0.8			3.9			12.8
Stock-based compensation		0.6			1.1			1.4			1.5			4.6			1.5			1.2
Debt and warrant retirement costs		1.8			—			—			—			1.8			—			0.6
Amortization of acquisition-related intangibles assets		0.5			0.5			0.5			0.6			2.1			1.0			0.2
Non-GAAP loss before income taxes		(1.9	)		(1.0	)		(2.4	)		(6.2	)		(11.5	)		(14.1	)		(8.9	)
Non-GAAP tax expense(2)		—			—			—			—			—			—			—
Non-GAAP loss	$	(1.9	)	$	(1.0	)	$	(2.4	)	$	(6.2	)	$	(11.5	)	$	(14.1	)	$	(8.9	)
Non-GAAP loss per share, diluted:
Non-GAAP loss per common share	$	(0.08	)	$	(0.04	)	$	(0.09	)	$	(0.22	)	$	(0.44	)	$	(0.49	)	$	(0.31	)
Non-GAAP Weighted-average number of common shares outstanding (in millions):		23.4			24.2			27.4			28.2			26.0			29.0			29.0

(1) Represents the operations of Mavenir up to the date of acquisition of April 29, 2015.

(2) Non-GAAP tax expense is based on an estimated effective tax rate of 0% as Mavenir had unrecognized tax loss carryforwards.

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MAVENIR SYSTEMS, INC.

Reconciliation of Net Loss to Adjusted EBITDA

(in millions of U.S. dollars)

(unaudited)

	Quarter Ended March 31, 2014			Quarter Ended June 30, 2014			Quarter Ended September 30, 2014			Quarter Ended December 31, 2014			Year Ended December 31, 2014			Quarter Ended March 31, 2015			Month Ended April 29, 2015(1)
Net Loss	$	(4.1	)	$	(3.8	)	$	(5.8	)	$	(12.3	)	$	(26.0	)	$	(25.1	)	$	(23.3	)
Adjustments:
Interest expense		0.8			0.4			0.4			0.5			2.1			0.5			0.1
Income tax expense (recovery)		0.1			0.4			(0.7	)		0.7			0.5			1.1			0.1
Amortization and depreciation		1.4			1.2			1.3			1.5			5.4			2.1			0.6
Purchase accounting adjustments relating to revenue		—			—			—			—			—			0.8			0.1
Foreign exchange (gain) loss		(0.8	)		0.8			2.2			2.5			4.7			2.7			(0.6	)
Special charges and restructuring costs		—			—			—			0.8			0.8			3.9			12.8
Stock-based compensation		0.6			1.1			1.4			1.5			4.6			1.5			1.2
Debt and warrant retirement costs		1.8			—			—			—			1.8			—			0.6
Adjusted EBITDA	$	(0.2	)	$	0.1		$	(1.2	)	$	(4.8	)	$	(6.1	)	$	(12.5	)	$	(8.4	)

(1) Represents the operations of Mavenir up to the date of acquisition of April 29, 2015.

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MAVENIR SYSTEMS, INC.

SEGMENT RESULTS

(in millions of U.S. dollars)

(unaudited)

	Quarter Ended March 31, 2014		Quarter Ended June 30, 2014		Quarter Ended September 30, 2014		Quarter Ended December 31, 2014		Year Ended December 31, 2014		Quarter Ended March 31, 2015			Month Ended April 29, 2015 (1)
Mobile Revenues
Product	$	17.3	$	21.6	$	19.8	$	18.8	$	77.5	$	13.3		$	1.5
Recurring		5.7		6.1		6.7		7.0		25.5		9.7			3.1
Services		5.7		5.6		7.6		7.9		26.8		5.3			1.4
		28.7		33.3		34.1		33.7		129.8		28.3			6.0
Purchase accounting adjustments		—		—		—		—		—		(0.8	)		(0.1	)
Total Mobile Revenues		28.7		33.3		34.1		33.7		129.8		27.5			5.9
Mobile Gross Margin
Product		10.9		14.8		11.8		11.3		48.8		9.5			1.4
Recurring		3.0		3.2		3.0		3.6		12.8		4.1			1.3
Services		2.3		0.8		3.5		3.9		10.5		0.1			(0.7	)
		16.2		18.8		18.3		18.8		72.1		13.7			2.0
Purchase accounting adjustments		—		—		—		—		—		(0.8	)		(0.1	)
Total Mobile Gross Margin	$	16.2	$	18.8	$	18.3	$	18.8	$	72.1	$	12.9		$	1.9

(1) Represents the operations of Mavenir up to the date of acquisition of April 29, 2015.

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MITEL NETWORKS CORPORATION

SEGMENT RESULTS

(in millions of U.S. dollars)

(unaudited)

	Quarter Ended March 31, 2014(1)			Quarter Ended June 30, 2014			Quarter Ended September 30, 2014			Quarter Ended December 31, 2014			Year Ended December 31, 2014			Quarter Ended March 31, 2015			Quarter Ended June 30, 2015
Premise Revenues
Product	$	181.5		$	189.9		$	168.5		$	195.2		$	735.1		$	145.3		$	146.8
Recurring		47.3			50.8			52.0			52.3			202.4			48.6			47.6
Services		24.9			23.6			22.8			25.2			96.5			20.4			21.6
		253.7			264.3			243.3			272.7			1,034.0			214.3			216.0
Purchase accounting adjustments		(3.9	)		(3.0	)		(1.6	)		(1.7	)		(10.2	)		(0.8	)		(0.8	)
Total Premise Revenues		249.8			261.3			241.7			271.0			1,023.8			213.5			215.2
Premise Gross Margin
Product		102.4			107.4			94.1			114.0			417.9			81.1			83.0
Recurring		23.9			24.8			26.9			28.2			103.8			26.9			26.9
Services		8.3			8.8			8.2			9.5			34.8			6.2			8.0
		134.6			141.0			129.2			151.7			556.5			114.2			117.9
Purchase accounting adjustments		(3.9	)		(3.0	)		(1.6	)		(1.7	)		(10.2	)		(0.8	)		(0.8	)
Total Premise Gross Margin	$	130.7		$	138.0		$	127.6		$	150.0		$	546.3		$	113.4		$	117.1
Cloud Revenues
Product	$	7.4		$	6.2		$	8.8		$	7.4		$	29.8		$	10.6		$	11.4
Recurring		19.9			20.9			21.7			22.6			85.1			23.3			25.3
Services		0.3			0.3			0.2			0.4			1.2			0.7			0.5
		27.6			27.4			30.7			30.4			116.1			34.6			37.2
Purchase accounting adjustments		—			—			—			—			—			—			—
Total Cloud Revenues		27.6			27.4			30.7			30.4			116.1			34.6			37.2
Cloud Gross Margin
Product		3.6			3.6			4.8			4.7			16.7			5.6			6.1
Recurring		9.6			10.1			10.4			11.1			41.2			11.0			12.1
Services		0.1			0.1			0.1			0.2			0.5			0.4			0.3
		13.3			13.8			15.3			16.0			58.4			17.0			18.5
Purchase accounting adjustments		—			—			—			—			—			—			—
Total Cloud Gross Margin	$	13.3		$	13.8		$	15.3		$	16.0		$	58.4		$	17.0		$	18.5
Mobile Revenues
Product	$	—		$	—		$	—		$	—		$	—		$	—		$	23.1
Recurring		—			—			—			—			—			—			6.4
Services		—			—			—			—			—			—			9.6
		—			—			—			—			—			—			39.1
Purchase accounting adjustments		—			—			—			—			—			—			(14.6	)
Total Mobile Revenues		—			—			—			—			—			—			24.5
Mobile Gross Margin
Product		—			—			—			—			—			—			11.9
Recurring		—			—			—			—			—			—			2.6
Services		—			—			—			—			—			—			5.7
		—			—			—			—			—			—			20.2
Purchase accounting adjustments		—			—			—			—			—			—			(6.1	)
Total Mobile Gross Margin	$	—		$	—		$	—		$	—		$	—		$	—		$	14.1
Total Revenues
Product	$	188.9		$	196.1		$	177.3		$	202.6		$	764.9		$	155.9		$	181.3
Recurring		67.2			71.7			73.7			74.9			287.5			71.9			79.3
Services		25.2			23.9			23.0			25.6			97.7			21.1			31.7
		281.3			291.7			274.0			303.1			1,150.1			248.9			292.3
Purchase accounting adjustments		(3.9	)		(3.0	)		(1.6	)		(1.7	)		(10.2	)		(0.8	)		(16.2	)
Total Revenues		277.4			288.7			272.4			301.4			1,139.9			248.1			276.1
Total Gross Margin
Product		106.0			111.0			98.9			118.7			434.6			86.7			101.0
Recurring		33.5			34.9			37.3			39.3			145.0			37.9			41.6
Services		8.4			8.9			8.3			9.7			35.3			6.6			14.0
		147.9			154.8			144.5			167.7			614.9			131.2			156.6
Purchase accounting adjustments		(3.9	)		(3.0	)		(1.6	)		(1.7	)		(10.2	)		(0.8	)		(6.9	)
Total Gross Margin	$	144.0		$	151.8		$	142.9		$	166.0		$	604.7		$	130.4		$	149.7

(1) Includes the pro-forma operations of Aastra Technologies Limited from January 1, 2014 to January 31, 2014. Mitel acquired Aastra on January 31, 2014. For a reconciliation from Mitel's reported U.S. GAAP results for the three months ended March 31, 2014 to the pro-forma results, please see Mitel's 8-K filed on May 8, 2014.

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MITEL NETWORKS CORPORATION

SEGMENT PROFORMA RESULTS

(in millions of U.S. dollars)

(unaudited)

	Quarter Ended March 31, 2014			Quarter Ended June 30, 2014			Quarter Ended September 30, 2014			Quarter Ended December 31, 2014			Year Ended December 31, 2014			Quarter Ended March 31, 2015			Quarter Ended June 30, 2015
Premise Revenues
Product	$	181.5		$	189.9		$	168.5		$	195.2		$	735.1		$	145.3		$	146.8
Recurring		47.3			50.8			52.0			52.3			202.4			48.6			47.6
Services		24.9			23.6			22.8			25.2			96.5			20.4			21.6
		253.7			264.3			243.3			272.7			1,034.0			214.3			216.0
Purchase accounting adjustments		(3.9	)		(3.0	)		(1.6	)		(1.7	)		(10.2	)		(0.8	)		(0.8	)
Total Premise Revenues		249.8			261.3			241.7			271.0			1,023.8			213.5			215.2
Premise Gross Margin
Product		102.4			107.4			94.1			114.0			417.9			81.1			83.0
Recurring		23.9			24.8			26.9			28.2			103.8			26.9			26.9
Services		8.3			8.8			8.2			9.5			34.8			6.2			8.0
		134.6			141.0			129.2			151.7			556.5			114.2			117.9
Purchase accounting adjustments		(3.9	)		(3.0	)		(1.6	)		(1.7	)		(10.2	)		(0.8	)		(0.8	)
Total Premise Gross Margin	$	130.7		$	138.0		$	127.6		$	150.0		$	546.3		$	113.4		$	117.1
Cloud Revenues
Product	$	7.4		$	6.2		$	8.8		$	7.4		$	29.8		$	10.6		$	11.4
Recurring		19.9			20.9			21.7			22.6			85.1			23.3			25.3
Services		0.3			0.3			0.2			0.4			1.2			0.7			0.5
		27.6			27.4			30.7			30.4			116.1			34.6			37.2
Purchase accounting adjustments		—			—			—			—			—			—			—
Total Cloud Revenues		27.6			27.4			30.7			30.4			116.1			34.6			37.2
Cloud Gross Margin
Product		3.6			3.6			4.8			4.7			16.7			5.6			6.1
Recurring		9.6			10.1			10.4			11.1			41.2			11.0			12.1
Services		0.1			0.1			0.1			0.2			0.5			0.4			0.3
		13.3			13.8			15.3			16.0			58.4			17.0			18.5
Purchase accounting adjustments		—			—			—			—			—			—			—
Total Cloud Gross Margin	$	13.3		$	13.8		$	15.3		$	16.0		$	58.4		$	17.0		$	18.5
Mobile Revenues
Product	$	17.3		$	21.6		$	19.8		$	18.8		$	77.5		$	13.3		$	24.6
Recurring		5.7			6.1			6.7			7.0			25.5			9.7			9.5
Services		5.7			5.6			7.6			7.9			26.8			5.3			11.0
		28.7			33.3			34.1			33.7			129.8			28.3			45.1
Purchase accounting adjustments(1)		(1.4	)		(14.6	)		(1.2	)		(7.4	)		(24.6	)		(2.2	)		(14.7	)
Total Mobile Revenues		27.3			18.7			32.9			26.3			105.2			26.1			30.4
Mobile Gross Margin
Product		10.9			14.8			11.8			11.3			48.8			9.5			13.3
Recurring		3.0			3.2			3.0			3.6			12.8			4.1			3.9
Services		2.3			0.8			3.5			3.9			10.5			0.1			5.0
		16.2			18.8			18.3			18.8			72.1			13.7			22.2
Purchase accounting adjustments(1)		(1.4	)		(6.1	)		(1.2	)		(2.5	)		(11.2	)		(2.2	)		(6.2	)
Total Mobile Gross Margin	$	14.8		$	12.7		$	17.1		$	16.3		$	60.9		$	11.5		$	16.0
Total Revenues
Product	$	206.2		$	217.7		$	197.1		$	221.4		$	842.4		$	169.2		$	182.8
Recurring		72.9			77.8			80.4			81.9			313.0			81.6			82.4
Services		30.9			29.5			30.6			33.5			124.5			26.4			33.1
		310.0			325.0			308.1			336.8			1,279.9			277.2			298.3
Purchase accounting adjustments		(5.3	)		(17.6	)		(2.8	)		(9.1	)		(34.8	)		(3.0	)		(15.5	)
Total Revenues		304.7			307.4			305.3			327.7			1,245.1			274.2			282.8
Total Gross Margin
Product		116.9			125.8			110.7			130.0			483.4			96.2			102.4
Recurring		36.5			38.1			40.3			42.9			157.8			42.0			42.9
Services		10.7			9.7			11.8			13.6			45.8			6.7			13.3
		164.1			173.6			162.8			186.5			687.0			144.9			158.6
Purchase accounting adjustments		(5.3	)		(9.1	)		(2.8	)		(4.2	)		(21.4	)		(3.0	)		(7.0	)
Total Gross Margin	$	158.8		$	164.5		$	160.0		$	182.3		$	665.6		$	141.9		$	151.6

(1) Represents non-cash purchase accounting adjustments, as if the acquisition of Mavenir had occurred on January 1, 2014.

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