Revenue Update on Extreme Networks Inc(NASDAQ:EXTR)

Extreme Networks Inc(NASDAQ:EXTR) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $139.99M. Analysts estimated a revenue of $141.89M. Earnings per share were $0.10. Analysts had estimated an EPS of $0.10.

Extreme Networks Inc (EXTR) shares turned negative on Fridays trading session with the shares closing down -0.06 points or -1.48% at a volume of 3,54,409. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $4.09. The peak price level was also seen at $4.09 while the days lowest was $3.93. Finally the shares closed at $3.99. The 52-week high of the shares is $4.545 while the 52-week low is $2.27. According to the latest information available, the market cap of the company is $418 M.

Several Insider Transactions has been reported to the SEC. On Jan 29, 2016, Eric Broockman (CTO and EVP Engineering) sold 3,967 shares at $3.61 per share price.Also, On Jan 25, 2016, Kenneth Arola (EVP Chief Financial Officer) sold 5,491 shares at $3.48 per share price.On Jan 25, 2016, Frank Blohm (EVP Operations) sold 2,882 shares at $3.48 per share price, according to the Form-4 filing with the securities and exchange commission.

Extreme Networks Inc. together with its subsidiaries is a provider of wired and wireless network infrastructure equipment software and services for enterprises data centers and service providers. The Company sells its products through an ecosystem of the Company channel partners who combine its Ethernet products with their offerings to create information technology solutions for end user customers. Its product categories include modular Ethernet switching systems stackable Ethernet switching systems high-density wireless fidelity (WiFi) centralized management software network access control (NAC) and bring your own device (BYOD) management application analytics and software-defined networking (SDN). The Company’s customers include businesses hospitals hotels universities sports venues telecommunications companies and government agencies around the world.

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