MORRISVILLE – Extreme Networks (EXTR) on Thursday reported fiscal first-quarter earnings of $12.6 million – and CEO Ed Meyercord praised the company’s performance.
The maker of network infrastructure equipment posted revenue of $297.7 million in the period, which the company says is a record.
“Our customers view networking as a strategic asset, and they choose Extreme because we are the best choice to drive operational efficiencies and create better outcomes for their end users. This is evidenced by this quarter’s impressive double-digit revenue growth, record revenue, and continued growth of backlog, which now sits at $555 million,” Meyercord said in a statement.
“Extreme continues to take share in a thriving and competitive market. The flexibility and intelligence of our products like Extreme Fabric, ExtremeCloud IQ, and innovative capabilities such as Digital Twin and AIOps, are gamechangers. We make it simple to deploy and manage networks, which transforms the way our customers drive their businesses. The combination of our continued revenue growth and record backlog gives us even greater confidence in our long-term growth outlook.”
- MORE COVERAGE: Read the full earnings report online
The Morrisville based company said it had profit of 9 cents per share. Earnings, adjusted for one-time gains and costs, came to 20 cents per share. It moved its headquarters to Morrisville from California last year.
For the current quarter ending in December, Extreme Networks expects its per-share earnings to range from 21 cents to 26 cents.
The company said it expects revenue in the range of $299 million to $309 million for the fiscal second quarter.
