Extreme Networks is a large networking company based in San Jose, CA. A daily collection of all things fintech, interesting developments and market updates. Many biological, social, and communication systems can be modeled by “searchers’’ moving through a complex network. 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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 www.sec.gov). Find the latest Extreme Networks, Inc. (EXTR) stock discussion in Yahoo Finance's forum. 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. More information: For Cisco news and rumors posted by our visitors, see the entries below! This is your first post. 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. But alas, you know what they say about rumors … The network is more strategic than ever, delivering valuable data that provides greater intelligence and insights customers can use to drive better outcomes. Pros. We just distributed a press release and filed an 8-K detailing Extreme Networks… 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, 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. Maybe you just want to get a few questions straightened before diving full on a new customer-driven network? The main products include networking devices, networking management software, optical networking, storage area networks, wireless/telepresence, VOIP and datacenter products. Management does not care about employees. 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. 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. 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. incorporation) (Commission File No.) Supplemental 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 including the non-GAAP reconciliation attached to this press release. 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. 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. On CNBC's "Mad Money Lightning Round", Jim Cramer said he isn't a fan of Extreme Networks, Inc EXTR. Beginning with our first quarter of fiscal 2021, we are changing how we calculate our non-GAAP provision for income taxes in accordance with the SEC guidance on non-GAAP Financial Measures Compliance and Disclosure Interpretation. Join to Connect. The encore recording can be accessed by dialing 1 (855) 859-2056 or international 1 (404) 537-3406. With me today are Extreme Networks' President and CEO, Ed Meyercord, and CFO, Remi Thomas. 631 Extreme Networks reviews. 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 Company believes that excluding these items provides both management and investors with additional insight into its current operations, the trends affecting the Company, the Company's marketplace performance, and the Company's ability to generate cash from operations. Search results (in All languages) Language: Extreme networks . Sorry, no headlines or news topics were found. 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:http://www.prnewswire.com/news-releases/extreme-networks-reports-first-quarter-fiscal-year-2021-financial-results-301161262.html, Thank you for subscribing! there are rumors that there will be a VM with VOSS availible soon. I accept employment with Extreme Networks, Inc. and agree to the terms set forth in this Offer Letter. Distributed by Public, unedited and unaltered, on 04 December 2020 18:04:01 UTC There are so many other stocks in that area he would rather buy. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Edit or delete it, then start blogging! Extreme expects to incur share-based compensation expenses in future periods. The Company is providing with this press release non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating margin, non-GAAP operating income, non-GAAP net income, non-GAAP net income per diluted share, and non-GAAP free cash flow. Extreme's management also uses non-GAAP measures, in addition to the corresponding GAAP measures, in reviewing the Company's financial results. Your laptop may have just survived 2020 – but is it ready for 2023? EXTREME NETWORKS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except per share amounts) (Unaudited) September 30, 2020. Welcome to the Extreme Network. Also in 2008, rumors were flying that Enterasys was looking to buy Extreme. Consists of associated expenses for stock options, restricted stock awards and the Company's Employee Stock Purchase Plan. I have no pros to share. Free cash flow represents GAAP net cash provided by operating activities, less purchases of property, plant and equipment. Get the latest Extreme Networks, Inc. (EXTR) stock news and headlines to help you in your trading and investing decisions. All rights reserved. We also offer more choice and flexibility for end-to-end solutions in today's more distributed networking environment. Vice President Corporate Controller at Extreme Networks San Francisco Bay Area 71 connections. *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. But those facts didn't stop similar pandemic rumors from assailing social media and offline social networks. Extreme uses the non-GAAP free cash flow metric as a measure of operating performance. Contact our sales department for any question about our Customer-Driven Networks. 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. Cons. The Street consensus had … Don't have a Benzinga account? /s/ Remi Thomas November 15, 2018 : Remi Thomas : Date . The encore recording will be available for 7 days following the call. Thanks a lot Drew! "Customer adoption of our cloud-based networking solutions drove 20% sequential growth of new subscription bookings of ExtremeCloud IQ, the fastest growing cloud-managed platform in the industry. In addition to offering unmatched cloud deployment flexibility, portable licensing across the entire portfolio, unlimited data duration, and industry-leading uptime. Everything you need to know about the market - quick & easy. Employer Identification. By creating an account, you agree to theTerms of Service and acknowledge our Privacy Policy. San Jose, California 95119 We are driven to seek cutting-edge, people-first solutions to some of the world’s most vexing business challenges. re: Extreme Juniper Rumors Are Back Last week's announcement that Hitesh was joining JNPR as the VP of Enterprise products. Extreme Networks, Inc. Non-GAAP Measures of Financial Performance. 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. 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”). /s/ Remi Thomas November 15, 2018 : Remi Thomas : Date . Acquisition and integration costs consist of specified compensation charges, software charges, legal and professional fees related to the acquisition of Aerohive. 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. 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. Australia is standing up to China’s bullying. And in 2008, Extreme Networks filed—and won—its own suit against Enterasys regarding patent infringement. 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. These forward-looking statements speak only as of the date of this release. 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. Create one. Shares of Extreme Networks (NASDAQ:EXTR) fell as much as 21.3% Wednesday morning, following the high-speed network equipment maker's third … The company designs, makes and sells networking equipment and software. Extreme excludes restructuring expenses since they result from events that occur outside of the ordinary course of continuing operations. Another round of layoffs in January 2018 and mgmt continues to get fat and happy. Management does not care about employees. They need to look in the mirror and “lay themselves off” Terrible environment. 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. 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. Extreme uses both GAAP and non-GAAP measures to evaluate and manage its operations. 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. Actual results or events could differ materially from those anticipated in those forward-looking statements as a result of certain factors, including: our failure to achieve targeted revenues and forecasted demand from end customers; a highly competitive business environment for network switching equipment and cloud management of network devices; our effectiveness in controlling expenses; the possibility that we might experience delays in the development or introduction of new technology and products; customer response to our new technology and products; risks related to pending or future litigation; macroeconomic and political and geopolitical factors, a dependency on third parties for certain components and for the manufacturing of our products; and the impacts of COVID-19, and any worsening of the global business and economic environment as a result, on the Company's business, financial condition and operating results. 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. 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. The following table shows non-GAAP free cash flow calculation (in thousands): Cash flow provided by (used in) operations. (I.R.S. The new Cloud-Centric portfolio is a clear and present threat to their competitors. 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. 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 … No.) You are the man :) I've tried the whole setup using vmware player and I had some problems - i'm thinking the vix API didn't worked as expected. 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. 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. I accept employment with Extreme Networks, Inc. and agree to the terms set forth in this Offer Letter. EXTREME NETWORKS, INC.CONDENSED CONSOLIDATED BALANCE SHEETS(In thousands, except per share amounts)(Unaudited), Accounts receivable, net of allowance for doubtful accounts of $1,193 and $1,212, respectively, Prepaid expenses and other current assets, Current portion of long-term debt, net of unamortized debt issuance costs of$2,485 and $2,484, respectively, Current portion, operating lease liabilities, Long-term debt, less current portion, net of unamortized debt issuance costs of $6,539 and $7,165, respectively, Operating lease liabilities, less current portion, Convertible preferred stock, $0.001 par value, issuable in series, 2,000, Common stock, $0.001 par value, 750,000 shares authorized; 129,532and 127,114 shares issued, respectively; 122,935 and 120,517 shares outstanding, respectively, Treasury stock at cost: 6,597 and 6,597 shares, respectively, Total liabilities and stockholders' equity, EXTREME NETWORKS, INC.CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(In thousands, except per share amounts)(Unaudited), Restructuring and related charges, net of reversals, Shares used in per share calculation - basic and diluted, EXTREME NETWORKS, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(In thousands) (Unaudited). 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