UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (date of earliest event reported): May 21, 2008
EXTREME NETWORKS, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 000-25711 | 77-0430270 | ||
| (State or other jurisdiction of incorporation) |
(Commission File No.) | (I.R.S. Employer Identification No.) |
3585 Monroe Street
Santa Clara, California 95051
(Address of principal executive offices)
Registrant’s telephone number, including area code: (408) 579-2800
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 7.01. | Regulation FD Disclosure. |
As described in the press release attached as Exhibit 99.1, Extreme Networks, Inc. (the “Company”) held a meeting with investors and made an audio-only webcast of the event available on the Company’s website at www.extremenetworks.com. The presentation included a discussion of the Company’s target business model of gross margins of 58 to 59%, research and development expenses of 16 to 17%, sales and marketing expenses of 25 to 26%, and general and administrative expenses of 8%, with total operating expenses between 49 and 51% and an operating margin of 8 to 9%.
The above target business model percentages are derived from the Company’s non-GAAP business model. This non-GAAP business model excludes the effect of stock-based compensation expenses. The Company does not have an equivalent GAAP business model. The target business model reflects the Company’s goals and objectives it hopes to achieve over the next two fiscal years and achieving it in that time frame is subject to various risks and uncertainties, including the Company’s ability to control expenses, competitive pressures and other risks, including those described in the Company’s filing with the SEC; there can be no assurance that the model can be achieved or the time frame within which it can be achieved.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits |
| Exhibit Number |
Exhibit Title or Description | |
| 99.1 | Press Release dated May 21, 2008 | |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: May 21, 2008
| EXTREME NETWORKS, INC. | ||
| By: | /s/ Karen Rogge | |
| Karen Rogge | ||
| Senior Vice President, Chief Financial Officer | ||
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Exhibit 99.1
FOR IMMEDIATE RELEASE
For more information, contact:
Extreme Networks Public Relations
Greg Cross
408/579-3483
gcross@extremenetworks.com
EXTREME NETWORKS HOSTS INVESTOR BREAKFAST BRIEFING
SANTA CLARA, Calif.; May 21, 2008- Extreme Networks, Inc., (Nasdaq: EXTR) is hosting a breakfast briefing today with members of the financial community from 8:30-11:00 a.m. EDT. The company will discuss its long term operating model and other information at the meeting. An audio-only webcast of the event will be available on the company’s website beginning at 8:30 a.m. EDT and can be accessed in the investor section of the website at:
http://www.extremenetworks.com/about-extreme/investor-relations.aspx
Extreme Networks, Inc.
Extreme Networks designs, builds, and installs Ethernet infrastructure solutions that help solve the toughest business communications challenges. The company’s commitment to open networking sets us apart from the alternatives by delivering meaningful insight and unprecedented control to applications and services. Extreme Networks believes that openness is the best foundation for growth, freedom, flexibility and choice. The company’s focus is on enterprises and service providers who demand high performance, converged networks that support voice, video and data over a wired and wireless infrastructure.
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Extreme Networks is either a registered trademark or trademark of Extreme Networks, Inc. in the United States and other countries. All other trademarks are the property of their respective owners.