Share your opinion and gain insight from other stock traders and investors. 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), http://www.prnewswire.com/news-releases/extreme-networks-reports-first-quarter-fiscal-year-2021-financial-results-301161262.html, 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. On CNBC's "Mad Money Lightning Round", Jim Cramer said he isn't a fan of Extreme Networks, Inc EXTR. 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). 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. 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. They need to look in the mirror and “lay themselves off” Terrible environment. Extreme networks. 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. Find the latest Extreme Networks, Inc. (EXTR) stock discussion in Yahoo Finance's forum. (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. Extreme uses both GAAP and non-GAAP measures to evaluate and manage its operations. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Amortization of acquired intangibles. It needs U.S. support. Meanwhile, a person close to the Cisco camp says no Ciena acquisition is in the works. Extreme Networks is a large networking company based in San Jose, CA. 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. We are driven to seek cutting-edge, people-first solutions to some of the world’s most vexing business challenges. The Investor Relations website contains information about Extreme Networks, Inc.'s business for stockholders, potential investors, and financial analysts. These non-GAAP measures should only be used to evaluate Extreme's results of operations in conjunction with the corresponding GAAP measures. Extreme's management also uses non-GAAP measures, in addition to the corresponding GAAP measures, in reviewing the Company's financial results. Everything you need to know about the market - quick & easy. San Jose, California 95119 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. Our 100% in-sourced services and support are number one in the industry. Fiscal Q1 2021 Financial Metrics:(in millions, except percentages and per share information). 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 main products include networking devices, networking management software, optical networking, storage area networks, wireless/telepresence, VOIP and datacenter products. The encore recording will be available for 7 days following the call. Privacy Terms Cookies Modern Slavery Act © 2020 Broadgroup is part of the Euromoney Institutional Investor PLC group Other rumored "remedies" espoused ingesting bleach, garlic, and hot peppers or … 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. 15 years 4 months. 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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 Inc. published this content on 04 December 2020 and is solely responsible for the information contained therein. 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. Or maybe you just saw something cool and innovative and want more information. Extreme means "to reach for the highest degree" and I believe Extreme Networks is always reaching for the highest degree; I see it in all of my passionate colleagues, our world-class solutions, and most importantly our valued customers. Conference Call:                                                                                                                               Extreme will host a conference call at 8:00 a.m. Eastern (5:00 a.m. Pacific) today to review the first fiscal quarter results as well as the business outlook for second fiscal quarter ending December 31, 2020, including significant factors and assumptions underlying the targets noted above. 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. 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. We push the boundaries of technology leveraging the powers of machine learning, artificial intelligence, analytics, and automation. Thanks a lot Drew! 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. 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. This is your first post. 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. Extreme Employee; 674 replies 2 years ago 24 April 2018. 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I worked at Extreme Networks full-time for more than a year. 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. We also offer more choice and flexibility for end-to-end solutions in today's more distributed networking environment. 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. 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. 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