Extreme Networks reports a profit
While other networking vendors are reporting mounting losses, Extreme Networks has announced a great forth quarter.
While other networking vendors are reporting mounting losses, Extreme Networks has announced a storming forth quarter. The networking vendor increased revenue for its forth quarter by 25% to $115 million, compared to $92 million for the same period last year.
Net revenue for the fiscal year increased by 88% to $491 million compared to $262 million for the previous fiscal year.
“We're very pleased with our financial results and how we're managing our business during these economic times,” said Gordon Stitt, CEO and president of Extreme Networks.
“Our growing customer base reflects market validation for our Ethernet networking solutions, especially in the emerging regions such as Asia. Going forward we'll be introducing a variety of high performance solutions, resulting from our strong commitment to R&D, that provide customers around the world with a simplified migration path to the revolution of Ethernet networking.''
Regional director, Emad Makiya, went on to say in an e-mail, “this is nothing short of an outstanding achievement. We exceeded expectations on revenue and on earnings in a very tough economic climate. We went from a $144 million quarter, to a loss in March and then back to profit in June. This is absolutely outstanding and represents an extreme effort across all functions to get profitability back.”