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January 30, 2009

Extreme Networks feels the pinch

Revene down 5%, profit down 39%

By Jason Stamper

Extreme Networks announced second quarter results that saw revenue down 5.4% to $87.5m, while net income fell 39% from $4.1m to $2.5m.

On the positive side, cash and investments increased by $0.9m from the first fiscal quarter of 2009. But operating income came in at $1.58m compared to $2.18m in the year-ago quarter.

Extreme Networks’ president and CEO Mark Canepa, in a former life a VP at Sun Microsystems, made no mention of the revenue or profit slide in the company’s press release announcing the results: “Our focus on high performance, cost-effective network solutions in the enterprise and carrier markets positions us well to deliver on the promise of converged networks in an economy where customers are demanding the greatest return on their investment,” he said.

Extreme Networks has operations in 50 countries, offering wired and wireless secure LANs, data centre infrastructure and service provider Ethernet transport offerings.


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