Extreme Networks Unveils New Solutions-Based Strategy
"I'm pleased with how quickly our leadership team transformed our market vision into a tangible, executable plan," said
To develop the new strategy, the company initiated a comprehensive review process in January that included input from analysts, customers and partners. The resulting feedback pointed to a clear cut strategy centered on software and service led solutions and a definitive transformation in how the company goes to market. "Our strategy and execution of this new operating plan will enhance customer satisfaction, improve the competitiveness of the company and increase shareholder value," said Meyercord. "There are very few competitors offering a complete bundle of networking solutions with acceptable levels of customer service in our target market. This is our opportunity."
The company will continue to evolve its SDN capability and expand its investments in cloud solutions to deliver services that allow customers the ability to access application services seamlessly through the networking layer. In addition, the company will continue to invest in its EOS software and hardware platforms as well as aggressively accelerate its EXOS platforms to better take advantage of market advancements in networking technology. The combination of management software, analytics and new software-enabled services will transform traditional networks into strategic assets giving unique capabilities for interacting with edge devices at one end and the hyper-scale cloud on the other.
As a first step to implementing the new operating plan, the company has begun to restructure its global workforce and implement other operating cost reductions. The company expects to incur a restructuring charge of
Forward Looking Statements:
Statements in this release concerning the company's business prospects, future financial and operating results, and overall future prospects are forward-looking statements that involve a number of uncertainties and risks. Actual results or events could differ materially from those anticipated in those forward-looking statements as a result of certain factors, including: failure to achieve targeted revenues, failure of customers to accept the company's solutions-based go-to-market strategy, increased price competition, product technology developments, ongoing uncertainty in global economic conditions, infrastructure development or customer demand, collectability of receivables, the ability to meet current financial covenants, inability to anticipate demand from end customers, dependencies on third parties to manufacture our products, delays in development and commercialization of products under development, and ongoing litigation.
The matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements speak only as of the date of this release. Because such statements deal with future events, they are subject to risks and uncertainties. Other important factors that could cause actual results to differ materially are contained in the company's 10-Qs and 10-Ks that are on file with the
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/extreme-networks-unveils-new-solutions-based-strategy-300086769.html
News Provided by Acquire Media