Extreme Networks Reports Q2 Revenue

Looks like we are heading in the right direction 😉 . Yeah. The growth is slow. But, still its steady and seems to be towards the better. Hopefully, when my project is released out we can see it reflect on the next report! Keeping my fingers crossed 🙂 .

“We are pleased with the sequential increase in our net revenue results and our further penetration into the service provider customer segment,” said Mark Canepa, president and CEO of Extreme Networks. “We are making progress on our organization changes. We are focused on improving the productivity of our North American sales force, and the development of our product portfolio.”

Cash, short-term investments, and marketable securities were $204.2 million as of December 31, 2006 compared to $423.4 million as of October 1, 2006. During the quarter, the Company paid off its $200 million in subordinated convertible debentures. Also during the quarter, the Company completed its share repurchase program by repurchasing 0.9 million shares for $3.4 million. Since announcing the program in October 2005 and through December 31, 2006, the Company has repurchased a total of 11.1 million shares for $48.3 million dollars. Other items impacting cash during the quarter were capital expenditures of $1.9 million.

Quarterly Business Highlights

  1. Extreme Networks’ BlackDiamond® 12K switch was selected as a finalist in Light Reading’s prestigious “Leading Lights” competition.
  2. The expansion of our fixed-configuration Summit® family of products with the addition of new Summit X450 switches. These new switches deliver the performance of high-density gigabit power over Ethernet and 10 gigabit Ethernet uplinks along support for hardware-based routing of IPv4 and IPv6. The switches also deliver the flexibility and stability of the industry’s first highly resilient, modular operating system, ExtremeXOS(TM).
  3. Extreme Networks enabled the National Center for Data Mining (NCDM) at the University of Illinois at Chicago (UIC), to win the “Bandwidth Challenge” at Supercomputing ’06 event.
  4. CMP Technology Named Extreme Networks the premier hardware provider for the InteropNet at Interop® Las Vegas 2007 and Interop New York, 2007.
  5. Extreme Networks announced that it completed the transformation of its North American channel program with a focus on boosting the awareness, solution diversification and loyalty of channel partners.
  6. Extreme Networks announced new solutions for mid-sized networks, unveiling fixed-price network security and network convergence readiness assessments that can help customers plan, purchase and maintain their mission-critical networks.
  7. Extreme Networks and Avaya announced activities that align the companies as a premier source of engaged networks for public services organizations, including healthcare, education and state and local government.

[ Read more ]

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