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):
April 11, 2011
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 2.02 Results of Operations and Financial Condition
On April 11, 2011, Extreme Networks, Inc. issued a press release announcing its preliminary revenue for the third quarter ended March 27, 2011. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference in its entirety.
The information in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 to this Current Report on Form 8-K, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained in this Item 2.02 and in the accompanying Exhibit 99.1 shall not be incorporated by reference into any registration statement or other document filed by Extreme Networks with the Securities and Exchange Commission, whether made before or after the date of this Current Report, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference to this Item and Exhibit 99.1 in such filing.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
99.1 | Press release issued by Extreme Networks, Inc., dated April 11, 2011. | |
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: April 11, 2011
EXTREME NETWORKS, INC.
By: | /s/ Oscar Rodriguez |
Oscar Rodriguez | |
President and Chief Executive Officer | |
FOR IMMEDIATE RELEASE
For more information, contact:
Extreme Networks, Inc.
Investor Relations Public Relations
408/579-3030 408/579-3483
investor_relations@extremenetworks.com gcross@extremenetworks.com
EXTREME NETWORKS REPORTS PRELIMINARY REVENUE
SANTA CLARA, Calif.; April 11, 2011 - Extreme Networks, Inc. (Nasdaq: EXTR) today released preliminary revenue for its 2011 fiscal third quarter ended March 27, 2011. For the quarter, net revenue is expected to be $75.5-76.5 million. The company will hold a conference call to discuss these preliminary results today at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time).
“The revenue for the quarter was impacted by the deferral of $2.6 million in product revenue for a large customer and the timing of several large and relatively complex customer transactions,” said Oscar Rodriguez, President & CEO of Extreme Networks. “We expect to be able to complete our obligations under these deals in future quarters, which will represent additional revenue for Extreme Networks at that time. In addition, we have begun to execute on our stated strategic company transformation, and have announced new products and are consolidating our product portfolio to reduce expense and eliminate under-performing or obsolete products. As a result, we experienced some customer purchase decision delays, as we worked to transition our customers to new products and architectures. Other factors impacting this quarter's results were a relative slowdown in our EMEA sales and longer sales cycles for business in the U.S., and increased competitive pressures related to customers in the horizontal enterprise IT market.”
Overall Asia Pacific performed well, and is expected to show double-digit revenue growth from Q3 FY10. EMEA is expected to show low single digit revenue growth from Q3 FY10. North America is expected to show a decrease in revenue from Q3 FY10. Overall, year-to-date revenue growth is expected to be 9% to 10% vs. the same period in FY2010.
Preliminary Results Conference Call Today at 5:00 p.m. Eastern Time
Dial-in numbers: 1-877-941-4774 or 1-480-629-9760
7-Day Replay: 1-800-406-7325 or 1-303-590-3030
Conference passcode: 4432546
Webcast: http://investor.extremenetworks.com
Full Q3 Financial Results on April 28
The company plans to release complete financial results for the quarter after the close of regular market trading on Thursday, April 28, 2011, with another conference call to follow at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). The conference call may be heard by dialing 1-877-303-9826 (international callers dial 1-224-357-2194). A 7-day replay will be available following the call by dialing 1-800-642-1687 (international callers dial 1-706-645-9291). The conference call passcode is 58473013. In addition, a live webcast and replay of the call will be available at http://investor.extremenetworks.com. Financial information to be discussed during the conference call will be posted in the Investor Relations section of the company's website www.extremenetworks.com.
About Extreme Networks, Inc.
Extreme Networks delivers networks for the mobile world. The company's open network solutions enable a quality user experience, providing a platform for improved business agility. From the converged mobile edge of enterprises to virtualized clouds, and from data centers to global carrier networks that backhaul mobile traffic, Extreme Networks' extensible services architecture helps set a foundation for mobility, user awareness and faster performance to empower people and machines to connect and move seamlessly. Extreme Networks is headquartered in Santa Clara, California, with offices in more than 50 countries worldwide. For more information, visit: www.extremenetworks.com
Extreme Networks is either a registered trademark or trademark of Extreme Networks, Inc. within the United States and other countries.