cookies to improve your experience and customise advertising. All rights reserved. If your passion runs in that same direction, it’s time to consider a career with Extreme. Another round of layoffs in January 2018 and mgmt continues to get fat and happy. Adjustments to reconcile net loss to net cash provided by (used in)operating activities: Reduction in carrying amount of right-of-use asset, Non-cash restructuring and impairment charges, Changes in operating assets and liabilities, net of acquisitions, Net cash provided by (used in) operating activities, Business acquisitions, net of cash acquired, Proceeds from issuance of common stock, net of tax withholding, Payment of contingent consideration obligations, Net cash (used in) provided by financing activities, Cash and cash equivalents at end of period, Extreme Networks, Inc.Non-GAAP Measures of Financial Performance. Extreme Networks. They need to look in the mirror and “lay themselves off” Terrible environment. Pros. Share-based compensation. At Extreme, we make it easier than any other vendor to capture this valuable data and use it productively. Non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Extreme's results of operations as determined in accordance with GAAP. On CNBC's "Mad Money Lightning Round", Jim Cramer said he isn't a fan of Extreme Networks, Inc EXTR. This is elevating Extreme's competitive position in customer and partner conversations, leading to more opportunities and enhancing our future growth outlook," stated Ed Meyercord, President and CEO of Extreme. and ... "There have been lots of rumors about it." The following table shows non-GAAP free cash flow calculation (in thousands): Cash flow provided by (used in) operations. Click to get a sign-in link sent to your email. EXTREME NETWORKS, INC. (Exact name of registrant as specified in its charter) Delaware : 000-25711 : 77-0430270 (State or other jurisdiction of. Pros. Commencing with fiscal 2014, you will be eligible to participate in the Extreme Networks Annual Incentive Plan (“EIP”) with an annual target of 100% of your annual base salary.The EIP target bonus will be paid if you and the Company meet established performance objectives and attainment of key strategic goals to be determined by the Board (the “EIP Goals”). Apr 23, 2019 07:44 PM Form 4 EXTREME NETWORKS INC For: Apr 22 Filed by: MEYERCORD EDWARD Apr 23, 2019 08:00 AM The City of Memphis Deploys Extreme Networks to … But alas, you know what they say about rumors … During the quarter we had significant customer wins across our portfolio and in our targeted key verticals, including, most notably, our win of Major League Baseball," concluded Meyercord. Cons. The Street consensus had … Accounts receivable, net of allowance for doubtful accounts of $1,193 and, Current portion of long-term debt, net of unamortized debt issuance costs of, Long-term debt, less current portion, net of unamortized debt issuance costs of, Common stock, $0.001 par value, 750,000 shares authorized; 129,532, Adjustments to reconcile net loss to net cash provided by (used in),, Privacy Policy / Do Not Sell My Personal Data, GAAP gross margin 57.3% compared to 53.7% in Q1 last year, Non-GAAP gross margin 60.3% compared to 59.9% in Q1 last year, GAAP operating margin at breakeven compared to (12.6)% in Q1 last year, Non-GAAP operating margin 8.3%, compared to 6.2% in Q1 last year, Net cash provided by operating activities of. Vice President Corporate Controller at Extreme Networks San Francisco Bay Area 71 connections. "Stronger execution in each of our geographic regions drove solid sequential growth for the second consecutive quarter. Extreme uses the non-GAAP free cash flow metric as a measure of operating performance. We just distributed a press release and filed an 8-K detailing Extreme Networks… Purchase accounting adjustments relating to the mark up of acquired inventory to fair value less disposal costs. A free inside look at company reviews and salaries posted anonymously by employees. Extreme excludes restructuring expenses since they result from events that occur outside of the ordinary course of continuing operations. The new Cloud-Centric portfolio is a clear and present threat to their competitors. In this press release, Extreme also presents its target for non-GAAP operating expenses, which is operating expenses less share-based compensation expense, restructuring charges and amortization of acquired intangibles. In preparing non-GAAP information, the Company has excluded, where applicable, the impact of share-based compensation, acquisition and integration costs, acquired inventory adjustments, amortization of acquired intangibles, inventory valuation adjustment, and restructuring charges. We have adjusted the fiscal 2020 non-GAAP tax provision to reflect the 2020 non-GAAP operating results to be comparable with fiscal 2021 results. The amortization of the developed technology and order backlog are recorded in cost of goods sold, while the amortization for the other intangibles are recorded in operating expenses. The Investor Relations website contains information about Extreme Networks, Inc.'s business for stockholders, potential investors, and financial analysts. (Extreme Networks are a partner of Front Office Sports) Just west of Boston sits New England’s second largest city, Worcester, Mass., home of the Worcester Red Sox, colloquially known as the WooSox. 15 years 4 months. More information: For Cisco news and rumors posted by our visitors, see the entries below! Non-GAAP measures presented in this press release are not in accordance with or alternative measures prepared in accordance with GAAP and may be different from non-GAAP measures used by other companies. A limitation of the utility of this non-GAAP free cash flow metric as a measure of financial performance is that it does not represent the total increase or decrease in the Company's cash balance for the period. Software-driven networking company Extreme Networks has announced that it will acquire Wi-Fi router maker Aerohive Networks for $272m. Australia is standing up to China’s bullying. Extreme Networks - Get Report. Get pre-market outlook, mid-day update and after-market roundup emails in your inbox. The encore recording will be available for 7 days following the call. Acquisition and integration costs. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Search all headlines (in All languages) Ammeon Solutions forms strategic partnership with Extreme Networks 13:28 14-Aug-20. SAN JOSE, Calif., Oct. 28, 2020 /PRNewswire/ -- Extreme Networks, Inc. ("Extreme") (NASDAQ:EXTR) today released financial results for its first fiscal quarter ended September 30, 2020. Shares of Extreme Networks (NASDAQ:EXTR) fell as much as 21.3% Wednesday morning, following the high-speed network equipment maker's third … Privacy Terms Cookies Modern Slavery Act © 2020 Broadgroup is part of the Euromoney Institutional Investor PLC group In addition to offering unmatched cloud deployment flexibility, portable licensing across the entire portfolio, unlimited data duration, and industry-leading uptime. Amortization of acquired intangibles includes the monthly amortization expense of intangible assets such as developed technology, customer relationships, trademarks and order backlog. Extreme excludes these expenses since they result from an intangible asset and for which the period expense does not impact the operations of the business and are non-cash in nature. For more information, visit Extreme's website or follow us on Twitter, LinkedIn, and Facebook. Previously, the non-GAAP tax provision consisted of current and deferred income tax expense on a GAAP basis as if our carryforward net operating losses were sufficient to offset our non-GAAP adjustments. Edit or delete it, then start blogging! incorporation) (Commission File No.) Share your opinion and gain insight from other stock traders and investors. please read our. Over 50,000 customers globally trust our end-to-end, cloud-driven networking solutions and rely on our top-rated services and support to accelerate their digital transformation efforts and deliver progress like never before. Our 100% in-sourced services and support are number one in the industry. I have no pros to share. Extreme Networks is a large networking company based in San Jose, CA. Create one. Extreme Networks is laying off part of its workforce, but it’s not blaming the COVID-19 coronavirus pandemic for its latest round of layoffs, the company told CRN. The company provides software-driven networking solutions for Enterprise and Service Provider customers. Disclaimer. For the third quarter of fiscal 2019, Extreme Networks reported earnings of $0.08 per diluted share on sales of $251 million. This change will not affect our non-GAAP income before income taxes, actual cash tax payments or cash flows, but will result in a higher or lower non-GAAP provision for income taxes depending on the level and jurisdictional mix of pre-tax income and available U.S. research and development tax credits. About Extreme Networks: Extreme Networks, Inc. delivers software-driven solutions from the enterprise edge to the cloud that are agile, adaptive, and secure to enable digital transformation. Fiscal Q1 2021 Financial Metrics:(in millions, except percentages and per share information). 631 Extreme Networks reviews. Extreme Networks, the Extreme Networks logo, ExtremeCloud IQ, and Extreme Fabric Connect, are trademarks of Extreme Networks, Inc. or its subsidiaries in the United States and/or other countries. To see how, and to learn how to control cookies, Meanwhile, a person close to the Cisco camp says no Ciena acquisition is in the works. We also offer more choice and flexibility for end-to-end solutions in today's more distributed networking environment. Adjustments relating to the mark down of inventory due to duplication of products lines with acquisition of Aerohive net of recoveries on the sale of inventory marked down in previous quarters. Extreme Networks delivers end-to-end, cloud-driven networking solutions and top-rated services and support to advance our customers digital transformation efforts and deliver progress like never before. Acquired inventory adjustments. To supplement the Company's consolidated financial statements presented in accordance with U.S. generally accepted accounting principles, ("GAAP"), Extreme uses non-GAAP measures of certain components of financial performance. Other rumored "remedies" espoused ingesting bleach, garlic, and hot peppers or … To be perfectly fair though, who shouldn't buy is just as important as who should. Distributed by Public, unedited and unaltered, on 04 December 2020 18:04:01 UTC For its internal planning process, and as discussed further below, Extreme's management uses financial statements that do not include share-based compensation expense, acquired inventory adjustments, acquisition and integration costs, amortization of acquired intangibles, inventory valuation adjustments, and restructuring charges. The non-GAAP tax provision will now consist of current and deferred income tax expense commensurate with the non-GAAP measure of profitability using our blended U.S. statutory tax rate of 24.2%. Over the near term, most of our cash taxes will continue to be mainly driven by the tax expense of our foreign subsidiaries which amounts have not historically been significant. Extreme uses both GAAP and non-GAAP measures to evaluate and manage its operations. Don't have a Benzinga account? This revenue growth, combined with improved gross margins and reduced operating expenses, resulted in a significant improvement in profitability and cash flow," stated Remi Thomas, CFO of Extreme. The Bluetooth® word mark is a registered trademark owned by the Bluetooth SIG, Inc. and any use of such mark by Extreme Networks is under license. *Gross debt is defined as long-term and current portion of long-term debt as shown on the balance sheet plus unamortized debt issuance costs. Contact our sales department for any question about our Customer-Driven Networks. Extreme considers free cash flow as useful information for management and investors regarding the amount of cash generated by the business after the purchases of property, plant and equipment, which can then be used to, among other things, invest in Extreme's business, make strategic acquisitions, and strengthen the balance sheet. These forward-looking statements speak only as of the date of this release. And in 2008, Extreme Networks filed—and won—its own suit against Enterasys regarding patent infringement. Have some questions about our robust core to edge portfolio? We do not expect to pay substantial taxes on a GAAP basis in the U.S. and certain other foreign jurisdictions for the foreseeable future due to our net operating loss carryforward balances. Other … Management does not care about employees. To supplement the Company's consolidated financial statements presented in accordance with U.S. generally accepted accounting principles, ("GAAP"), Extreme uses non-GAAP measures of certain components of financial performance. EXTREME NETWORKS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except per share amounts) (Unaudited) September 30, 2020. We push the boundaries of technology leveraging the powers of machine learning, artificial intelligence, analytics, and automation. Extreme's management also uses non-GAAP measures, in addition to the corresponding GAAP measures, in reviewing the Company's financial results. For example, intracellular cargo is transported on tubular networks, news and rumors spread through online social networks, and the rapid global spread of infectious diseases occurs through passengers traveling on the airport network. With the recent purchase of Aerohive Networks, Zebra's WING, the acquisition of Avaya's networking business and Brocade's Datacentre Switching, Extreme have acted on their plans to offer a full end-to-end enterprise offering. A daily collection of all things fintech, interesting developments and market updates. and ... "There have been lots of rumors about it." © Copyright 1997 - 2020 NewsNow Publishing Limited. Amortization of acquired intangibles. Restructuring charges primarily consist of severance costs for employees which have no benefit to continuing operations and impairment of right-of-use assets, long-lived assets and other charges related to excess facilities. They need to look in the mirror and “lay themselves off” Terrible environment. Use the best photo book platform to preserve your special memories, 'Rules as Code' will let computers apply laws and regulations, Former Australian FM calls on Australia to "get out of the hole" with China. Extreme Employee; 674 replies 2 years ago 24 April 2018. Employer Identification. 6480 Via Del Oro . Or maybe you just saw something cool and innovative and want more information. It needs U.S. support. None. /s/ Remi Thomas November 15, 2018 : Remi Thomas : Date . I have no pros to share. Extreme excludes share-based compensation expenses from its non-GAAP measures primarily because they are non-cash expenses that the Company does not believe are reflective of ongoing cash requirement related to its operating results. Extreme Networks - Get Report. Other trademarks shown herein are the property of their respective owners. The following statements are forward-looking, and actual results could differ materially based on various factors, including market conditions and the factors set forth under "Forward-Looking Statements" below. The Bluetooth® word mark is a registered trademark owned by the Bluetooth SIG, Inc. and any use of such mark by Extreme Networks is under license. Non-GAAP Financial Measures:Extreme provides all financial information required in accordance with U.S. generally accepted accounting principles ("GAAP"). We are off to a good start in Q2 and remain well positioned throughout fiscal 2021 to deliver improving operating leverage and cash flow," concluded Thomas. Another round of layoffs in January 2018 and mgmt continues to get fat and happy. there are rumors that there will be a VM with VOSS availible soon. EXTREME NETWORKS, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONSGAAP TO NON-GAAP RECONCILIATION(In thousands, except percentages and per share amounts)(Unaudited), Share-based compensation expense, cost of revenues. Sorry, no headlines or news topics were found. I accept employment with Extreme Networks, Inc. and agree to the terms set forth in this Offer Letter. "Our quarterly results exceeded our outlook across all of our financial metrics. In addition, because Extreme has historically reported certain non-GAAP results to investors, the Company believes the inclusion of non-GAAP measures provides consistency in the Company's financial reporting. The two companies have entered into a … These non-GAAP measures include non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating margin, non-GAAP operating income, non-GAAP net income, non-GAAP earnings per diluted share and non-GAAP free cash flow. If you have any questions feel free to call us at 1-877-440-ZING or email us at Income Taxes. Please note the Company's non-GAAP measures may be different than those used by other companies. Extreme Networks Summit X670-G2 Series X670-G2-48x-4q-Base-Unit - switch - 48 ports - managed - rack-mountable overview and full product specs on CNET. The encore recording can be accessed by dialing 1 (855) 859-2056 or international 1 (404) 537-3406. Net debt is defined as gross debt minus cash, as shown in the table below (in millions): Business Outlook:Extreme's business outlook is based on current expectations. Supplemental financial information to be discussed during the conference call will be posted in the Investor Relations section of the Company's website including the non-GAAP reconciliation attached to this press release. Extreme Networks. Inventory valuation adjustments. Join to Connect. Launched in 2013 by Holly Smith, The Extreme Network is a portfolio of websites and social media communities with an highly engaged audience of over 2 million followers and a combined weekly reach of 20 million. No.) But those facts didn't stop similar pandemic rumors from assailing social media and offline social networks. San Jose, California 95119 Free cash flow represents GAAP net cash provided by operating activities, less purchases of property, plant and equipment. Restructuring charges. 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Welcome to Extreme Networks Sites. Beginning with our first quarter of fiscal 2021, we have assumed our U.S. federal and state net operating losses would have been fully consumed by the historical non-GAAP financial adjustments, eliminating the need for a full valuation allowance against our U.S. deferred tax assets which consequently, enables our use of research and development tax credits which were previously not utilizable. The company designs, makes and sells networking equipment and software. Extreme believes these non-GAAP measures when shown in conjunction with the corresponding GAAP measures enhance investors' and management's overall understanding of the Company's current financial performance and the Company's prospects for the future, including cash flows available to pursue opportunities to enhance stockholder value. Reconciliation to the nearest GAAP measure of all historical non-GAAP measures included in this press release can be found in the tables included with this press release. Please try different keywords. Except as required under the U.S. federal securities laws and the rules and regulations of the U.S. Securities and Exchange Commission, Extreme disclaims any obligation to update any forward-looking statements after the date of this release, whether as a result of new information, future events, developments, changes in assumptions or otherwise. Meanwhile, a person close to the Cisco camp says no Ciena acquisition is in the works. More information about potential factors that could affect the Company's business and financial results are described in "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" included in the Company's Annual Report on Form 10-K for the year ended June 30, 2020, and other documents of the Company on file with the Securities and Exchange Commission (available at About Extreme:Extreme Networks, Inc. (EXTR) creates effortless networking experiences that enable all of us to advance. 0 doesn't seem worth it, RTX I/O game support seems to be a 2022 thing at the earliest, and I can add a PCI-E … We also believe our long-term effective GAAP tax rate will be lower than the U.S. statutory rate based upon our established tax structure. The main products include networking devices, networking management software, optical networking, storage area networks, wireless/telepresence, VOIP and datacenter products. "We have repaid another $20 million of our revolving credit facility on October 23, leaving a remaining balance at just $15 million. We are driven to seek cutting-edge, people-first solutions to some of the world’s most vexing business challenges. Extreme Networks, Inc. Non-GAAP Measures of Financial Performance. And if your software demands are limited to Microsoft Edge, Microsoft Outlook, Microsoft Word, Microsoft OneNote and Microsoft Skype for Business then maybe a Mac isn't for you.Perhaps Microsoft Windows is more suited to you. /s/ Remi Thomas November 15, 2018 : Remi Thomas : Date . Find the latest Extreme Networks, Inc. (EXTR) stock discussion in Yahoo Finance's forum. The network is more strategic than ever, delivering valuable data that provides greater intelligence and insights customers can use to drive better outcomes. As of June 30, 2020, we had U.S. federal net operating loss carryforwards of $287 million and state net operating loss carryforwards of $156 million. Get the latest Extreme Networks, Inc. (EXTR) stock news and headlines to help you in your trading and investing decisions. June 30, 2020 Shares used in net income per share-diluted: GAAP Shares used in per share calculation - basic and diluted, Non-GAAP diluted shares used in per share calculation, View original content to download multimedia:, Thank you for subscribing! The additional non-GAAP financial information the Company presents should be considered in conjunction with, and not as a substitute for, the Company's GAAP financial information. The Company has provided a non-GAAP reconciliation of the results for the periods presented in this release, which are adjusted to exclude certain items as indicated. Maybe you just want to get a few questions straightened before diving full on a new customer-driven network? Thanks a lot Drew! These non-GAAP measures should only be used to evaluate Extreme's results of operations in conjunction with the corresponding GAAP measures. The conference call will be available to the public through a live audio web broadcast via the internet at and a replay of the call will be available on the website for 7 days following the call. I have no futher infomation on that. The conference call may also be heard by dialing 1 (877) 303-9826 or international 1 (224) 357-2194 with Conference ID # 1042849. (I.R.S. This is your first post. I accept employment with Extreme Networks, Inc. and agree to the terms set forth in this Offer Letter. These measures should only be used to evaluate the Company's results of operations in conjunction with the corresponding GAAP measures for comparable financial information and understanding of the Company's ongoing performance as a business. Conference ID # 1042849. Many biological, social, and communication systems can be modeled by “searchers’’ moving through a complex network. For its second quarter of fiscal 2021, ending December 31, 2020, the Company is targeting: (in millions, except percentages and per share information), Shares outstanding used in calculating GAAP EPS, Shares outstanding used in calculating non-GAAP EPS.
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