IP telephony vendor ShoreTel saw its 2008 revenue rise 32 per cent as its top line surged past the $100m mark.

The vendor's Q4 revenue for the three months to 30 June rose 20 per cent on the same period last year and stood at $34.7m. Net loss according to generally accepted accounting principles (GAAP) was $47,000, compared to a net income of $1.9m in Q4 2007. Q4 2008's losses included $2m in stock-based compensation expenses.

For the whole of 2008, revenue rose 32 per cent to $128.7m, while GAAP net income was $2.6m, down from $6m last year. 2008's income suffered from the inclusion of $6.9m in stock-based compensation expenses, compared to $2.7m last year.

ShoreTel chief executive John Combs said: "We are pleased to have delivered solid fiscal year growth of 32 percent over last year and to have ended our fiscal year with record fourth quarter revenue that grew by 10 percent sequentially.

"We enter fiscal 2009 with a very strong foundation for growth. Our Unified Communications platform is acknowledged as the best in the industry and we have strengthened our distribution channel significantly during the year, particularly with the addition of two key national partners."