Extreme Networks Cuts Q1 Outlook

(RTTNews) - Extreme Networks, Inc. (EXTR) on Wednesday lowered its first quarter revenue guidance to a range of $134.0 million to $135.5 million from its prior guidance of $149 million to $154 million.

The company said it now expects to report a net loss for the first quarter in the range of $0.21 to $0.19 per share, compared to its previous guidance of a net loss in the range of $0.12 to $0.08 per share.

The company now expects first quarter adjusted results to range between a loss of 0.02 to breakeven per share, compared to its prior guidance of profit in the range of $0.06 to $0.08 per share.

Analysts polled by Thomson Reuters currently expect the company to earn $0.07 per share on revenue of $152.26 million for the first quarter. Analysts' estimates typically exclude special items.

"Extreme faced a number of headwinds that affected our revenue this quarter. Our EMEA business was impacted by the weakening of the Euro and the political and economic conditions in the Eastern part of these markets. In North America, we experienced significant delays in closing deals," said Charles Berger, president and CEO of Extreme Networks.

Extreme will release its final results for the first quarter on October 28.