...Annual Revenue up 6% with Improved Gross Margins
Extreme Networks, Inc. (Nasdaq: EXTR) today announced financial results for its fiscal fourth quarter and year ended June 29, 2008. For the quarter, net revenue was $98.3 million, compared to $87.1 million in the year-ago quarter, a 13% increase.
Net income on a GAAP basis was $0.8 million or $0.01 per diluted share, compared to a net loss of $5.0 million or a loss of $0.04 per diluted share in the year-ago quarter. Non-GAAP net income for the fiscal fourth quarter of 2008, excluding $1.3 million in stock-based compensation charges and a $0.9 million change in estimate related to our prior restructuring accruals, was $3.0 million or $0.03 per diluted share. That compares to year-ago non-GAAP net income of $0.3 million or $0.00 per diluted share, excluding $1.2 million in stock-based compensation charges, $1.3 million related to the special investigation into historical stock option grants, and $2.9 million in restructuring charges...
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