Wednesday, October 31, 2012

Extreme Posts Revenue of $76 Million, Down 13% Sequentially

Extreme Networks reported revenue of $76.1 million for its first quarter of fiscal 2013 ending September 30, 2012, a 3.5% decrease compared to revenue of $78.9 million reported for the first quarter of fiscal 2012 and a 13.1% decrease compared to the fourth quarter of fiscal 2012. GAAP net income for the first quarter was $12.9 million, or $0.14 per diluted share, an increase year-over-year compared to GAAP net income of $1.6 million, or $0.02 per diluted share, for the first quarter of fiscal 2012.

"Q1 results were in-line with our targets and we are encouraged by customer and partner response related to our strategy and products released earlier in the calendar year," stated Oscar Rodriguez, President and CEO of Extreme Networks.  "Our goal is to grow revenues while continually refining our cost structure and enhancing our selling efforts to deliver superior products that we believe provide both a technology and cost advantage for both new and existing customers."