Extreme Networks (NASDAQ: EXTR) reported Q3 EPS of $0.03, $0.01 better than the analyst estimate of $0.02. Revenue for the quarter came in at $124.9 million versus the consensus estimate of $123.02 million.

"We posted solid performance for the quarter, achieving 4% year-over-year organic growth and significantly improved non-GAAP profitability, while also strengthening the balance sheet," stated Ed Meyercord, President and CEO of Extreme Networks. "Growth was driven by continued penetration of targeted education and hospitality/public venue enterprise customers in North America, and successful execution of our software-driven solutions selling approach for wireless and wired enterprise campus networking.

"Despite the challenging macro environment for enterprise campus switching, which included seasonal pricing pressure, our team made consistent progress in selling the ExtremeManagement, ExtremeControl and ExtremeAnalytics software portfolio combined with our Wave 2 access points and next generation end-to-end switch portfolio powered by Broadcom. We are encouraged by the growing number of customers who recognize the important benefits of adopting our integrated software and hardware solution, which include lower total cost of ownership, improved network performance and security, and more efficient network management," Meyercord added.

GUIDANCE:

Extreme Networks sees Q4 2016 EPS of $0.08-$0.12, versus the consensus of $0.09. Extreme Networks sees Q4 2016 revenue of $136.6-146.6 million, versus the consensus of $140.79 million.

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