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Extreme sales hit targets

Alex Scroxton
Extreme Networks has posted on-target sales for the last quarter and beaten previously forecast earnings per share after a solid performance in the North American theatre.

The firm booked total sales of $78.2m (£50.93m) in the third quarter of its fiscal 2010, which closed on 28 March. This figure was down sequentially but up a slim 1.29% year-on-year.

GAAP net income - including a restructuring charge and stock-based compensation expenses - was up to $3.7m, reversing a net loss of $2.2m this time last year. This works out at $0.04 per diluted share.

Extreme said a 30% jump in sales in North America to $32.6m had helped reverse a pattern of sequential revenue declines and kept it on target.

In EMEA this picture was less rosy; net sales in the region came in at $31m slightly below American revenues, and down 18% sequentially.

Note that Extreme was one of several vendors hit by supply chain disruption in recent months, although at the start of the year it said its troubles were behind it.

Extreme CFO and acting CEO Bob Corey said: "With our expanded portfolio of products, we expect to grow product revenue by an additional 8% to 11% sequentially in our fourth quarter."

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