Wednesday, January 23, 2008

Extreme Networks Reports Quarterly Revenue up 7%; Gross Margins up 14%

Extreme Networks reported that quarterly revenue increased 7 percent to $92.5 million, from $86.9 million in the year ago quarter. For the quarter, net income on a GAAP basis for the fiscal second quarter of 2008 was $4.1 million or $0.04 per diluted share, compared to a net loss of $1.9 million or a loss of $0.02 per diluted share in the year-ago quarter. GAAP results include stock-based compensation charges.

"This quarter represents our highest revenues in two years, driven largely by our newer products, which are being broadly accepted by the market," said Mark Canepa, president and CEO of Extreme Networks.