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Extreme Networks reports 3Q loss

SAN JOSE, Calif. (AP) _ Extreme Networks Inc. (EXTR) on Wednesday reported a loss of $5.6 million in its fiscal third quarter.

The San Jose, California-based company said it had a loss of 5 cents per share. Earnings, adjusted for restructuring costs and costs related to mergers and acquisitions, were 10 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.

The maker of network infrastructure equipment posted revenue of $148.7 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $155.8 million.

For the current quarter ending in June, Extreme Networks expects its per-share earnings to range from 14 cents to 17 cents.

The company said it expects revenue in the range of $168 million to $178 million for the fiscal fourth quarter.

Extreme Networks shares have increased 52 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $7.65, more than doubling in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EXTR at https://www.zacks.com/ap/EXTR


Keywords: Extreme Networks, Earnings Report