Extreme Networks Offers A Solid Buying Opportunity
Wed, Apr. 27, 4:07 PM
Tue, Apr. 26, 5:35 PM
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Thu, Jan. 28, 1:26 PM
- Though Extreme Networks (NASDAQ:EXTR) beat FQ2 revenue estimates (while posting in-line EPS), it's guiding for FQ3 EPS of -$0.01 to $0.03 vs. a $0.03 consensus. Revenue guidance of $118M-$128M is in-line with a $123.3M consensus.
- Gross margin concerns appear to be weighing: FQ2 non-GAAP gross margin was 53.6%, -160 bps Q/Q and -100 bps Y/Y, and below guidance of 54.7%-55.7%. FQ3 GM guidance is at 53.5%-54.5%.
- Shares have fallen to their lowest levels since September.
- Extreme's FQ2 results, earnings release
Thu, Jan. 28, 7:03 AM
- Extreme Networks (NASDAQ:EXTR): FQ2 EPS of $0.09 in-line.
- Revenue of $139.7M (-5.6% Y/Y) beats by $4.93M.
Wed, Jan. 27, 5:30 PM
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Oct. 30, 2015, 3:07 PM
- With shares still down over 50% from their early-2014 highs, an FQ1 EPS beat (paired with a slight revenue miss) and solid guidance is enough for Extreme Networks (NASDAQ:EXTR) to rally. The Ethernet/Wi-Fi hardware vendor expects FQ2 revenue of $130M-$140M and EPS of $0.06-$0.10 vs. a consensus of $132.2M and $0.06.
- Product revenue (drives future service revenue) fell 11% Y/Y in FQ1; service revenue fell 2% to $33.6M. Gross margin (non-GAAP) fell 40 bps Y/Y to 55.2%. Boosting EPS: Job cuts led operating expenses to drop 18% Y/Y to $61.5M. FQ2 GM and opex guidance is respectively at 54.7%-55.7% and $62.5M-$65M.
- FQ1 results, PR
Oct. 29, 2015, 4:09 PM
- Extreme Networks (NASDAQ:EXTR): FQ1 EPS of $0.07 beats by $0.04.
- Revenue of $125M (-8.8% Y/Y) misses by $0.34M.
Oct. 28, 2015, 5:35 PM
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Aug. 6, 2015, 7:12 AM
- Extreme Networks (NASDAQ:EXTR): FQ4 EPS of $0.10 beats by $0.13.
- Revenue of $150.6M (-4.0% Y/Y) beats by $23.1M.
Aug. 5, 2015, 5:30 PM
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May 6, 2015, 4:04 PM
- Extreme Networks (NASDAQ:EXTR): FQ3 EPS of -$0.08 misses by $0.01.
- Revenue of $120.36M (-16.2% Y/Y) beats by $1.66M.
May 5, 2015, 5:35 PM
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Apr. 9, 2015, 4:20 PM
- Extreme Networks (NASDAQ:EXTR) now expects to report FQ3 (March quarter) revenue of $118M-$120M and EPS of -$0.07 to -$0.09; prior guidance was at $130M-$140M and -$0.03 to $0.02, and consensus at $135.3M and $0.00.
- Gross margin guidance has been cut by 200 bps to 53%-54%, and opex guidance to $69M-$70M from $72.5M-$74.5M.
- CEO Chuck Berger: "In the U.S. and Canada, we experienced deferred spending at several key accounts in the higher education market as well as several stadium and venue deals pushing out of the March quarter. Currency impacts in Europe and Latin America resulted in customers delaying or cancelling purchases. Operating expenses came in below the low end of guidance due to tighter expense management throughout the quarter which we plan to continue going forward."
- He adds Extreme plans to cut its debt by $20.6M, bringing its cash balance to $74M-$76M.
- Chief revenue officer/Cisco vet Jeff White, hired only last October, is "no longer with the company." A search has begun for a successor. Full FQ3 results will arrive on May 6.
- Shares are halted. Raymond James' March 20 downgrade appears well-timed.
Feb. 12, 2015, 11:03 AM
- Cisco (NASDAQ:CSCO) beat FQ2 estimates on the back of 8% Y/Y product growth (aided by favorable comps), offered in-line guidance (better than feared, given forex pressures), and reported a 5% increase in product orders. Enterprise, SMB, and public sector orders respectively rose 10%, 8%, and 7%, and service provider orders dropping 1% (compares with a 10% FQ1 service provider drop).
- Cisco still isn't modeling a rebound in service provider or emerging markets demand for several quarters, and forecasts global service provider capex will be down by a mid-single digit % in 2015. But it's more optimistic about enterprise, public sector, U.S., and EMEA demand.
- Telecom and networking equipment vendors, many of whom have been hit hard by capex pressures, are rallying following Cisco's numbers, as are a couple of component/chip suppliers. The Nasdaq is up 0.7%.
- Notable gainers include Alcatel-Lucent (ALU +4.7%), Aruba (ARUN +3.4%), Ruckus (RKUS +5.1%), Sonus (SONS +3.4%), Extreme Networks (EXTR +3.4%), Brocade (BRCD +1.9%), Adtran (ADTN +3%), Infoblox (BLOX +2.7%), Finisar (FNSR +2.1%), Cavium (CAVM +2%), Ixia (XXIA +1.9%), and Mavenir (MVNR +3.4%).
- Cisco's 18% Y/Y wireless product sales growth appears to be going over well with Aruba and Ruckus investors, and its 11% switching growth with Extreme and Brocade investors.
Jan. 29, 2015, 10:45 AM
- Extreme Networks (NASDAQ:EXTR) is guiding for FQ3 revenue (non-GAAP) of $130M-$140M and EPS of -$0.03 to $0.02 vs. a consensus of $137.7M and $0.03. With shares having gone into earnings just $0.10 away from a 52-week low of $2.68, those numbers are fine with investors.
- FQ2 gross margin fell to 54.6% from 56.4% a year earlier, and op. margin to 4.5% from 11%; FQ3 GM guidance is at 55%-56%. Free cash flow during the seasonally strong quarter was $38.6M.
- Product revenue (drives future services revenue) fell 6.6% to $112.5M, and service revenue grew 22% to $35.5M. Extreme continues growing its Wi-Fi hardware sales for NFL stadium deployments, adding the Green Bay Packers and Baltimore Ravens as clients.
- FQ2 results, PR
Extreme Networks, Inc. engages in the development and sale of network infrastructure equipment. It offers related services contracts for extended warranty and maintenance to its enterprise, data center and metropolitan telecommunications service provider customers. The company's product... More
Industry: Networking & Communication Devices
Country: United States
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