Thursday October 19, 2:34 pm Eastern Time
Press Release
SOURCE: Stock Traders Daily
Extreme Networks Beats Consensus Estimates, Demand is Strong, According to Thomas Kee at Stock Traders Daily
SAN FRANCISCO, Oct. 19 /PRNewswire/ -- The following was issued by Thomas Kee, CRD #2369405:
Stock Traders Daily ( stocktradersdaily.com ) has recently verified that the report recently issued stating that Extreme Networks, Inc. (Nasdaq: EXTR - news) has missed earnings estimates was incorrect. After speaking with George Stitt, Chairman, Pres., CEO of EXTR, Stock Traders Daily has verified that EXTR has actually exceeded consensus analyst's estimates of $0.06 per share. In addition Mr. Sitt has acknowledged that the Book-To-Bill ratio was greater than 1 which indicates strong demand for EXTR products going forward.
Mr. Stitt continued by discussing the current inventory levels and referred to the conference call last night to indicate that the inventories are 100% work in progress and those products are being manufactured to meet immediate demand from customers and not to build inventory levels of completed goods.
Mr. Stitt would not comment on the Whisper numbers.
On Wednesday EXTR reported that revenue for the first quarter increased to $119.3 million, compared 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, excluding amortization of goodwill and intangibles, for the first quarter, 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. Consensus estimates were for a gain of $.06 per share.
The information above is public knowledge. The information is embedded in filings and news releases made by EXTR in the recent past. Stock Traders Daily has offered this information to help investors make educated decisions about their investments. For more information about Stock Traders Daily visit our corporate Website: stocktradersdaily.com .
SOURCE: Stock Traders Daily
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