Extreme Sales Up Sequentially

The slowdown in the networking market may have hit bottom, according to Extreme Networks President and CEO Gordon Stitt.

While forward visibility is still foggy, Extreme is "optimistic that the worst of the industry downturn is behind us," Stitt said on the networking hardware vendor's second-quarter earnings conference call Wednesday.

Still, Extreme declined to provide specific guidance on the current quarter.

Extreme, based here, Wednesday reported revenue of $109.1 million for its fiscal 2002 second quarter ended Dec. 31, compared with revenue of $144.7 million in the same period a year ago. Sequentially, revenue was up slightly from $108.3 million for the fiscal 2002 first quarter.

The company posted a loss of $10.7 million, or 9 cents per share, for the quarter, compared with a loss of $8 million in the year-ago quarter and a loss of $36 million in the first quarter of fiscal 2002. On a pro forma basis, Extreme reported net income of $2 million, or 2 cents per share, for the quarter.

About two-thirds of Extreme's sales in the quarter were in the enterprise space, with the remaining sales in the service provider space, Stitt said.

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