7:24am 10/24/03 Extreme Networks turns Q3 profit (EXTR) By Tomi Kilgore NEW YORK (CBS.MW) - Extreme Networks (EXTR) reported fiscal first quarter net income of $2.6 million, or 2 cents a share, vs. a loss of $4 million, or 4 cents a share in the year-earlier period, amid decreased costs and improved productivity. Analysts surveyed by Reuters Research had been anticipating a loss of 2 cents a share on average. Revenue fell 13 percent to $87.4 million, just shy of analyst expectations of $90.5 million. The stock closed Thursday down 52 cents at $7.07.
SAN JOSE, Calif. (AP) _ Extreme Networks Inc. (EXTR) on Tuesday reported a loss of $3.1 million in its fiscal second quarter.
On a per-share basis, the San Jose, California-based company said it had a loss of 2 cents. Earnings, adjusted for stock option expense and amortization costs, were 13 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.
The maker of network infrastructure equipment posted revenue of $242.1 million in the period.
For the current quarter ending in April, Extreme Networks expects its per-share earnings to range from 11 cents to 16 cents.
The company said it expects revenue in the range of $240 million to $250 million for the fiscal third quarter.
Extreme Networks shares have increased 51% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $10.40, a rise of 70% in the last 12 months.
This story was generated by Automated Insights (automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EXTR at www.zacks.com/ap/EXTR
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