Extreme Networks, Inc. (NASDAQ:EXTR) posted fiscal fourth-quarter earnings that were in-line with expectations, and gave first-quarter guidance that met analyst views, but the stock was down more than 5% late trading after the bell, Monday.
The network infrastructure equipment-maker forecast fiscal first-quarter earnings in the range of 4 to 6 cents on revenue between $81 million and $84 million. The view was in-line with expectations, as analysts polled by Thomson Reuters had predicted first-quarter earnings of 5 cents a share on revenue of $81.4 million.
For the fiscal fourth quarter, the company reported a profit of $3.4 million or 4 cents a share, compared with year-ago earnings of $900,000 or a penny per share. Adjusted earnings improved to 7 cents per share, up from 6 cents a share, one year ago.
Net revenue rose to $85.5 million, compared with year-ago revenue of $81.3 million.
The results were in-line with expectations; the Street had expected the company to post earnings of 7 cents a share on revenue of $85.38 million.
"Product revenue in North America and EMEA increased by 17 percent and 22 percent, respectively from Q3, as we enter new markets and add new customers," said Bob L. Corey, CFO and acting president & CEO of Extreme Networks, in a release. "Revenue per employee for the fourth quarter was the highest in more than 16 quarters, as we continue our focus on growing revenue and introducing innovative new products."
Shares of Extreme Networks rose 12 cents or 4.20% in Monday’s session, to finish the day at $2.98 a share. The stock was down 16 cents or 5.37% after the market closed, following the release of fourth-quarter results.