Extreme Networks today announced financial results for its fiscal fourth quarter and year ended June 28, 2009. For the fourth quarter, net revenue was $81.3 million, above the prior range of $79-$81 million that the Company announced on July 17, 2009. This represents a sequential increase of 5 percent as compared to revenue of $77.2 million in the previous quarter and a 17 percent decrease as compared to revenue of $98.3 million in fourth quarter of last year.
Fourth quarter non-GAAP net income was $2.3 million or $0.03 per diluted share, compared to non-GAAP net income of $3.0 million or $0.03 per diluted share in the fourth quarter last year. Non-GAAP financial results exclude the impact of stock-based compensation and restructuring charges. A reconciliation of GAAP to non-GAAP financial measures is included in the accompanying financial tables.
For the fourth quarter, net revenue in North America was $34.9 million, revenue in EMEA was $31.6 million, and revenue in APAC was $14.8 million. That compares to revenue of $26.9 million in North America, $38.5 million in EMEA, and $11.8 million in APAC in the previous quarter.
“We delivered the highest non-GAAP operating income in five quarters while competing in a very difficult global economy,” said Extreme Networks President and CEO, Mark Canepa. “We launched three new product families during the fiscal year, adding to our broad set of products designed for the changing dynamics in the metro carrier, the data centre, and converged enterprise markets.”
Net income on a GAAP basis for the fourth quarter was $0.9 million or $0.01 per diluted share, compared to net income of $0.8 million or $0.01 per diluted share in the fourth quarter of last year.