Sunday, April 25, 2010

Extreme Networks Posts Revenue of $78 Million

Extreme Networks reported quarterly revenue of $78.2 million, which was in line with company guidance, and compares to revenue of $79.4 million in the previous quarter and $77.2 million in the third quarter of last year. Net income on a GAAP basis was $3.7 million or $0.04 per diluted share, which included a restructuring charge of $0.4 million and a charge of approximately $1.4 million related to stock based compensation. That compares to a net loss of $1.4 million or $0.02 per diluted share in the previous quarter, and a net loss of $2.2 million or $0.02 per diluted share for the same period last year.

"Third quarter revenue reflected solid performance in North America, where product revenue increased 30% from the second quarter, reversing a historic pattern of sequential revenue declines as we executed to our target for the quarter," said Bob L. Corey, CFO and acting President & CEO of Extreme Networks. "We also posted positive net income and grew revenue-per-employee to the highest level since the fourth quarter of fiscal 2008.

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