Not too shabby RR ;-)
Wednesday October 18, 4:20 pm Eastern Time
Press Release
SOURCE: Extreme Networks, Inc.
Extreme Announces Record First Quarter Revenues
153% Annual Revenue Growth, Quarterly Revenues Increase 29%
SANTA CLARA, Calif., Oct. 18 /PRNewswire/ -- Extreme Networks, Inc., (Nasdaq: EXTR - news), a leader in broadband networking solutions, today announced financial results for its first fiscal quarter ended Sept. 30, 2000.
Revenue for the first quarter of fiscal 2001 increased to $119.3 million, which compares to $92.4 million in the fourth quarter of fiscal 2000, and to $47.2 million in the first quarter of fiscal 2000, an increase of 29% and 153%, respectively.
Pro forma net income, which excludes the effects of the amortization of goodwill and intangibles, for the first quarter of fiscal 2001, was $9.0 million, or $0.08 per share, compared with fourth quarter 2000 net income of $5.0 million, or $0.04 per share, and net income of $4.0 million or $0.04 per share in the first quarter of fiscal 2000. All per-share amounts are computed on a diluted basis.
Net income, including the impact of amortization of goodwill and intangibles, for the first quarter of fiscal 2001, was $4.5 million, or $0.04 per share, compared with fourth quarter 2000 net income of $0.6 million, or $0.01 per share, and net income of $4.0 or $0.04 per share in the first quarter of fiscal 2000. All per-share amounts are computed on a diluted basis.
``We believe that our very strong results validate our strategy of 'Ethernet Everywhere,' and the strength of our switching solutions in providing the infrastructure for IP applications,'' said Gordon Stitt, president and CEO of Extreme Networks. ``The investments we have made in scaling our company are paying off as service providers, e-businesses and large multi-national enterprises continue to rapidly deploy our products around the world.''
About Extreme Networks
Extreme Networks is a leading provider of high-performance, broadband networking solutions designed for the Internet economy. The Company's family of BlackDiamond®, Summit®, and Alpine(TM) switching solutions are built on a unique combination of ExtremeWare(TM) management software and an ASIC-based common architecture that enable service providers, e-businesses and enterprises to expand their businesses and be more competitive by speeding traffic through a simplified, super scalable network infrastructure.
Headquartered in Santa Clara, Calif., Extreme Networks sells its award-winning switching solutions in more than 50 countries through authorized resellers. The Company was listed as the ``Fastest Growing Company in Silicon Valley'' based on three-year revenue growth by The Silicon Valley Business Journal. For more information, visit www.extremenetworks.com.
Statements relating to future financial performance contained in this press release are forward-looking and involve risks and uncertainties. Such statements are based on current expectations, forecasts and assumptions. These statements are only predictions and actual results could differ materially from those anticipated in these statements based upon a number of factors including future sales, technical development, product introduction by Extreme Networks and by competitors. These and other risks relating to Extreme Network's business are set forth in Extreme's filings with the SEC, including but not limited to the most recent report on Form 10-K.
NOTE: Extreme Networks, BlackDiamond and Summit are registered trademarks of Extreme Networks, Inc. Alpine and ExtremeWare are trademarks of Extreme Networks, Inc.
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