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ShoreTel's financial results for Q3 fiscal year 2015 (ended March 31st) show total revenue was $85m, an increase of 3% compared to Q3 2014. Notably, recurring revenues accounted for more than 50% of the total figure.
"We continue to execute our strategic plan of transitioning our business to a recurring revenue model," said Don Joos, president and CEO of ShoreTel.
"We are positioning the company for the growth in the cloud sector while remaining strong in the on-premises environment.
"We have reached significant milestones as our recurring revenue exceeded 50% of our total revenue. Customers and partners started participating in our new platform beta program and we are introducing our cloud offering in the UK planned for later this quarter."
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