Extreme Networks Inc. Q2 Profit Decreases, misses estimates

(RTTNews) - Extreme Networks Inc. (EXTR) reported earnings for second quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $3.988 million, or $0.03 per share. This compares with $17.931 million, or $0.13 per share, in last year's second quarter.

Excluding items, Extreme Networks Inc. reported adjusted earnings of $31.475 million or $0.24 per share for the period.

Analysts on average had expected the company to earn $0.25 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.9% to $296.377 million from $318.348 million last year.

Extreme Networks Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $3.988 Mln. vs. $17.931 Mln. last year. -EPS (Q2): $0.03 vs. $0.13 last year. -Analyst Estimates: $0.25 -Revenue (Q2): $296.377 Mln vs. $318.348 Mln last year.