Wednesday, April 13, 2005

Extreme Networks Reports Quarterly Revenue of $91.9 million

Extreme Networks reported third quarter (FY05) revenue of $91.9 million, up 3.4% from $88.9 million in the year-ago third quarter. The company recorded a net loss of $1.3 million or $0.01 per basic and diluted share in the third fiscal quarter of 2005, compared to a net loss of $1.1 million or $0.01 per diluted share in the third fiscal quarter of 2004. Included in the company's results was a $2.0 million expense related to a technology agreement with IBM. Excluding this item, the Company's profit after tax for the quarter was $0.7 million or $0.01 per share.


"Much of our business remained on a solid growth path during the third quarter," said Gordon Stitt, president and CEO of Extreme Networks. "Our revenues outside of Japan grew by 14 percent compared to the third quarter a year ago. However, continued weakness in our Japanese business combined with longer than expected sales cycles across our business generally led to us not achieving our goal of recording $100 million or more in revenue this quarter."http://www.extremenetworks.com

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