Key Developments: Extreme Networks Inc (EXTR.O)
3.46USD
24 May 2013
$0.04 (+1.17%)
$3.42
$3.40
$3.49
$3.37
918,982
506,508
$3.85
$2.87
Latest Key Developments (Source: Significant Developments)
Marathon Patent Group Inc's Relay IP Files Patent Infringement Lawsuits Against Extreme Networks Inc and Others
Marathon Patent Group Inc's Relay IP (Relay) has filed patent infringement lawsuits in the United States District Court for the District of Delaware against Sprint Nextel Corporation, Juniper Networks, Cisco Systems, Bloomberg L.P., Hitachi Cable America, D-Link Corporation, Avaya, Hewlett-Packard Company, Enterasys Networks, Extreme Networks, TIBCO Software, BT Group, SAVVIS Inc., Zhone Technologies, Huawei Technologies, Allied Telesis, and Adtran (the Defendants). Relay is asserting infringement related to U.S. Patent number 5,331 ,637, entitled Multicast Routing Using Core Based Trees. The lawsuit alleges that the Defendants have infringed, and continue to infringe, the claims of the patent in suit by using the accused IP Multicast systems and methods covered by the claims of the Relay patent. Full Article
Extreme Networks Inc Issues Q4 2013 Guidance In Line With Analysts' Estimates
Extreme Networks Inc announced that for the fourth quarter of 2013, it expects revenue in a range of $73 million to $77 million, GAAP net income at $1.0 million to $4.0 million, or $0.01 to $0.04 per diluted share and Non-GAAP net income in a range of $4.0 million to $7.0 million, or $0.04 to $0.08 per diluted share (EPS). Targeted non-GAAP earnings exclude expenses related to stock-based compensation expense of approximately $1.6 million, restructuring charges of approximately $0.5 million and $1.1 million of one-time CEO transition expenses. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $77 million, net income of $6.9 million and EPS of $0.08 for the fourth quarter of 2013. Full Article
Extreme Networks Inc Appoints Charles W. Berger As President And Chief Executive Officer
Extreme Networks Inc announced that it has appointed Charles W. Chuck Berger as its President and Chief Executive Officer, as well as elected him to the Board of Directors, effective immediately. Mr. Berger will be replacing Oscar Rodriguez who has resigned, from his position and has resigned from the Board of Directors of Extreme Networks. Full Article
Extreme Networks Inc Issues Q3 2013 Guidance; Earnings Guidance Above Analysts' Estimates
Extreme Networks Inc announced that for the third quarter of 2013, it is targeting revenue in a range of $70 million to $75 million, GAAP net income in the range of $3.0 million to $5.0 million, or $0.03 to $0.06 per diluted share and Non-GAAP net income in a range of $4.0 million to $7.0 million, or $0.04 to $0.08 per diluted share (EPS). Targeted non-GAAP earnings exclude expenses related to stock-based compensation expense of approximately $1.5 million and restructuring charges of approximately $0.6 million. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $71 million, net income of $2.3 million and EPS of $0.02 for the third quarter of 2013. Full Article
Extreme Networks Inc Lowers Q2 2013 Guidance-Conference Call
Extreme Networks Inc announced that for the second quarter of 2013, it expects GAAP revenue to be between $75 million and $77 million and non-GAAP EPS of between $0.02 and $0.03 per share. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $82 million and EPS of $0.06 for the second quarter of 2013. Full Article
Extreme Networks Inc Issues Q2 2013 Guidance In Line With Analysts' Estimates
Extreme Networks Inc announced that for the second quarter of 2013, it expects revenue in a range of $78 million to $85 million; GAAP net income is targeted at $2.5 million to $4.0 million, or $0.02 to $0.05 per diluted share, Non-GAAP net income is targeted in a range of $4.0 million to $6.5 million, or $0.04 to $0.07 per diluted share. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $84 million, net income of $5.4 million and EPS of $0.06 for the second quarter of 2013. Full Article
Extreme Networks Inc Announces $75 Million Share Buyback Plan
Extreme Networks Inc announced its Board of Directors has authorized the repurchase of common stock worth up to $75 million which may be purchased over the next three years from time to time in the open market or in privately negotiated transactions. The share repurchase of up to $75 million represents the initial capital authorization for the next three years and will be reviewed at least annually by the Board of Directors. The plan implementation will be designed to maintain the value of our deferred tax assets resulting from net operating losses. Because of this, it is currently expected that purchases will occur unevenly over the 3 year period, ramping over time. The Board of Directors has authorized management to determine the exact timing and amount of any shares repurchased based on an evaluation of market conditions and other factors. Repurchases may also be made under a Rule 10b5-1 plan, which would permit shares to be repurchased when the company might otherwise be precluded from doing so under its insider trading practices. The repurchase program may be suspended or discontinued at any time. Any repurchased shares will be cancelled and not available for future corporate purposes. Extreme Networks will fund the share repurchases from cash on hand, which was approximately $200 million as of September 30, 2012. As of August 6, 2012, there were approximately 95 million shares of common stock outstanding. Full Article
Taiwan's Grid Researcher Selects Extreme Networks Inc High Density Switches For Computing Needs
Extreme Networks, Inc announced that Taiwan's preeminent education institution, Academia Sinica, has selected its scalable data center switches as part of a network upgrade to support the demands of its high performance computing (HPC) and cloud network. Academia Sinica selected Extreme Networks versatile and dense switches to gain a robust and reliable 10 Gigabit network that is capable of continuously transferring huge volumes of data in continuous periods and would ultimately scale to 100 Gigabit Ethernet. Extreme Networks supports global universities and research institutions such as the Wellcome Sanger Trust Institute, Johns Hopkins University and CEA Saclay. Full Article
Extreme Networks, Inc. Issues Q1 2013 Guidance; Earnings Guidance Below Analysts' Estimates
Extreme Networks, Inc. announced that for the first quarter of 2013, it expects revenue to in a range of $75-$82 million, GAAP net income is targeted at break-even to $3.0 million, or $0.00 to $0.03 per diluted share, Non-GAAP net income to be in a range of $1-$4 million, or $0.01 to $0.05 per diluted share. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $80 million, net income of $6.2 million and EPS of $0.07 for the first quarter of 2013. Full Article
London Internet Exchange (LINX) Selects Extreme Networks, Inc.' BlackDiamond X8 Switch Ahead Of Summer Olympics
Extreme Networks, Inc. announced that the London Internet Exchange (LINX), has become one of the first organizations to purchase the BlackDiamond X8 switch to help meet growing network data traffic. In preparation for the 2012 Olympic Games in London this summer, LINX needed to select highly capable Ethernet to fortify its exchange point in order to handle the onslaught of Internet traffic. LINX is deploying multiple BlackDiamond X8 switches to handle Internet peering traffic that increases month after month. Full Article
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