Key Developments For Extreme Networks, Inc.
Extreme Networks, Inc. (EXTR.O) (Consolidated Issue listed on NASDAQ Global Market)
Extreme Networks, Inc. Issues Q2 2010 Revenue Outlook Above Analysts' Estimates-Conference Call
Extreme Networks, Inc. announced that for the second quarter of 2010, it expects revenue to range between $76 and $78 million. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $75 million for the same period.
Extreme Networks, Inc. Completes Reorganization to Streamline Operations; Appoints Mr. Bob L. Corey As Acting CEO
Extreme Networks, Inc. announced that it has completed a reorganization to streamline its operations and reduce recurring costs. As part of this restructuring, Extreme has reduced its workforce by approximately 70 employees or almost 9% of its worldwide workforce. The reductions have been completed and the Company anticipates it has lowered its operating expenses approximately $2.5 million per quarter. The effect is to reduce breakeven to under $70 million of revenue per quarter. The Company expects to take a one-time charge of approximately $4.2 million in its second fiscal quarter that will include a one-time cash severance charge. The Company also announced that Mr. Bob L. Corey has been appointed as Acting Chief Executive Officer (CEO). Mark Canepa, Extreme Networks CEO, has resigned as CEO and as a director to pursue other opportunities. He will remain with the Extreme Networks for a limited period of time to assist in the transition.
Extreme Networks, Inc. And Motorola, Inc. Address Smart Connectivity For Wired And Wireless Networking
Extreme Networks, Inc. and the Enterprise Mobility Solutions business unit of Motorola, Inc., announced that the companies have established a relationship to deliver a highly scalable unified network edge combining wired and wireless LAN (WLAN) networks that underpin mobile data and converged communications. An OEM agreement enables the companies to develop, market and support high-performance, secure, resilient and intelligent WLANs. Extreme Networks is developing integrated wired and wireless network solutions with Motorola's technology providing customers with a unified network that is predictable, fast and features the highest integrity. Working together and with certified sales and integration partners globally, the companies will deliver wired and WLAN infrastructure including WLAN controllers, network management tools and high-performance wireless access points (APs) that will enable mobility applications.
Cripps Harries Hall LLP Upgrades Network With Extreme Networks, Inc.
Extreme Networks, Inc. announced that Cripps Harries Hall LLP has upgraded its network with the Summit fixed family of Ethernet switches to support its fully converged voice and data infrastructure, in addition to iSCSI disk services - without incurring considerable costs and complexity.
Extreme Networks, Inc. Issues Q1 2010 Revenue Guidance Below Analysts' Estimates
Extreme Networks, Inc. announced that for the first quarter of 2010, net revenue is expected to be approximately $66 million. According to Reuters Estimates, analysts are expecting the Company to report revenues of $80 million for the same period.
