Tuesday, April 22, 2008

Extreme Networks Posts Revenue Decline YoY

Extreme Networks announced net revenue of $82.0 million for its fiscal third quarter of 2008, ended March 30, 2008. This compares with $85.1 million in the year-ago quarter. Net loss on a GAAP basis was $0.2 million or a loss of $0.00 per diluted share, compared to a net loss of $2.4 million or a loss of $0.02 per diluted share in the year-ago quarter.

"We started to see the first effects of more cautious spending late in the quarter, which directly impacted order closures, especially in the Americas," said Mark Canepa, president and CEO of Extreme Networks. "We experienced growing demand throughout most of the quarter, particularly for our newer products, but were impacted by what we believe were customer delays in purchases in the last two weeks of the period. We continue to invest for the long term as we position ourselves to take advantage of a rebound in the global economy."http://www.extremenetworks.com