Extreme Networks (EXTR) Reports Q2 EPS of $0.05; Issues Mixed Q3 Outlook

Extreme Networks (NASDAQ: EXTR) reported Q2 EPS of $0.05, versus $0.04 reported last year. Revenue for the quarter came in at $148 million versus the consensus estimate of $144.3 million.

Extreme Networks sees Q3 2015 EPS of ($0.03)-$0.02, versus the consensus of $0.03. Extreme Networks sees Q3 2015 revenue of $129-139 million, versus the consensus of $137.7 million.

"We made solid progress towards improving our results in the second fiscal quarter. Non-GAAP revenues were up 8% from the prior quarter at $148 million. Non-GAAP operating income was up over five-fold from the prior quarter reaching $6.7 million and EPS was $0.05 compared to a penny loss in Q1. At the same time we strengthened our balance sheet, reducing debt by $32 million while maintaining cash at $109 million, slightly above the prior quarter," said Chuck Berger, president and CEO of Extreme Networks. "We added several large new customers during the quarter including the Green Bay Packers, Baltimore Ravens, University of Maryland and Penn State University.

"We also continued to strengthen our sales leadership adding Stephen Patak and Bob Gault as heads of U.S. and Canada sales and worldwide channels respectively," Berger continued. "Together they bring more than 30 years of experience in the networking industry. In addition, David Hume joined as CIO and Frank Yoshino was appointed vice president, treasury and IR. Raj Khanna joined our Board of Directors in December. Raj brings extensive financial and internal audit experience over a 30 year career at Xerox, Sun and Qualcomm

For earnings history and earnings-related data on Extreme Networks (EXTR) click here.

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