For the nine-month period, it reported a net loss of $32.1m, down from a net loss of $186.4m, on revenue down 16% at $276m. The results disappointed the market, and its shares fell nearly 4.7% to $4.25. The third-quarter loss of $7.6m or $0.07 a share, was worse than analyst expectations of a loss of $0.02 a share. The decline in revenue to $85.2m, was also worse than analyst expectations, with its consensus of $87.6m. Cash equivalents and investments fell to $160.2m, from $236.5m in June 2002.
However, the Santa Clara, California-based company also took the opportunity to make two new announcements. The first was the introduction of its third-generation chipset called Triumph. This new technology provides Enterprise and Metro customers with an upgrade path for building a network infrastructure that supports thousands of devices, applications and interfaces.
The second was a next-generation switching technology for the BlackDiamond chassis-based switch. Extreme Networks is introducing two new BlackDiamond modules, based on its third-generation Triumph chipset, that delivers scalable Gigabit Ethernet connectivity along with advanced traffic and bandwidth management and integrated copper cable testing.
Source: Computerwire
