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Press Release Source: Extreme Networks, Inc.
Extreme Networks Announces Preliminary First Quarter Results
Monday September 30, 6:01 am ET
SANTA CLARA, Calif., Sept. 30 /PRNewswire-FirstCall/ -- Citing weak economic conditions, Extreme Networks, Inc. (Nasdaq: EXTR - News) today announced that it expects revenue for the first quarter ended Sept. 29, 2002 to be approximately $100 million, as compared to $113 million in revenue in the quarter ended June 30, 2002. Based on this revenue level, the Company expects to report a loss of approximately $0.03 to $0.04 per share for the quarter on a GAAP basis.
"With the strong focus on our core enterprise market, Extreme maintains its leadership position in building high-performance networks that offer organizations a significant return on investment with lower cost of ownership," said Gordon Stitt, CEO of Extreme Networks. "We have enhanced our distribution channel programs and service capabilities extending our reach around the world."
Extreme Networks has a cash balance of approximately $400 million and is generating positive cash flow from operations. For the quarter ended Sept. 29, 2002 the Company expects its book-to-bill ratio to be above 1.0 and its backlog to be within its normal range.
Extreme Networks will host a conference call to further discuss these preliminary results at 8:30 a.m. Eastern Time today. The conference call may include additional material information and investors are encouraged to attend or review the conference call on our website. To listen to the call, use either of the following web links: www.extremenetworks.com/aboutus/investor or www.shareholder.com/extr/medialist.cfm Additionally, the call can be accessed by dialing 888-245-7013, or 973-582-2767. Replay information will also be available at www.extremenetworks.com. Final results for the fiscal first quarter 2003 are scheduled to be released on October 16, 2002. |
