Wednesday, January 24, 2007

Extreme Networks Posts Revenue of $86.9 Million

Extreme Networks reported revenue of $86.9 million for its second fiscal quarter, comprised of $71.1 million in product revenue and $15.8 million in services revenue, a 3.7 percent increase as compared to $83.8 million in the first quarter of fiscal 2007. Net revenue was $92.8 million in the second quarter of fiscal 2006. The company did not provide GAAP or non-GAAP financial statements due to its ongoing investigation into past stock option grants. Extreme expects to restate its prior financial statements.

"We are pleased with the sequential increase in our net revenue results and our further penetration into the service provider customer segment," said Mark Canepa, president and CEO of Extreme Networks.

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