Tuesday, August 2, 2005

Extreme Networks Sees Revenue Rise 5% Sequentially

Extreme Networks reported quarterly revenue of $96.1 million, up 5 percent from $91.9 million in the previousl quarter, and up 4 percent from $92.2 million in the year-ago quarter. Gross margins for the quarter improved to 53.0 percent of sales, up sequentially from 51.4 percent. Net income for the quarter was $0.1 million, or $0.00 per fully diluted share. Included in the results for the fourth quarter was approximately $2.8 million in litigation expenses related to the recently concluded trial with Lucent Technologies.

For its fiscal year ended July 3, 2005, the company recorded revenues of $383.3 million, up 9 percent from fiscal year 2004.

"We are pleased to have achieved both growth and profitability for the year," said Gordon L. Stitt, president and CEO of Extreme Networks. "The market is embracing our open converged network solutions, and this success has enabled us to grow sales while improving our margins and increasing profitability."http://www.extremenetworks.com


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