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Strategies & Market Trends : Don't Drink the Kool-Aid Kids -- Ignore unavailable to you. Want to Upgrade?

To: Alan Smithee who wrote (709)	6/22/2001 8:43:44 AM
From: Stoctrash	Read Replies (1) \| Respond to of 1063

I'll be gone for a few days...keep the guru's in check while I'm gone, ok? <GG>--- Another Ik'eeey mess: ======= Thursday June 21, 5:26 pm Eastern Time Extreme Networks says CFO leaving SANTA CLARA, Calif., June 21 (Reuters) - Internet infrastructure company Extreme Networks Inc. (NasdaqNM:EXTR - news) said Thursday that Chief Financial Officer Vito Palermo is leaving the company. Palermo, who joined Extreme Networks shortly before its initial public offering in 1999, will stay through the quarterly earnings process and will assist in the recruitment of a replacement and a transition, the company said. During his tenure, Extreme Networks grew from $18 million revenues for the quarter ended December 1999 to $112 million for the quarter ended March 2001. Extreme has approximately 1,000 employees and offices in more than 25 countries. In April, it posted a third-quarter net loss of $7.1 million, or 7 cents a share, excluding one-time charges and amortization. It said it would cut its cost structure by 10 percent and lay off some staff. On Thursday, its shares closed up $2.56 at $27.77 on Nasdaq. The 52-week low is $12 and the high is $128.875.