Product revenue increased by 36% to $69.2m in Q1 2011
Extreme Networks has reported revenue of $84m for the first quarter of fiscal 2011, an increase of 27% compared to $66m for the same period last year.
Revenue from product increased by 36% to $69.2m from $51m, while service revenue decreased to $14.6m from $15.5m for the same quarter last year.
For the first quarter ended 26 September 2010, the company posted an operating income of $2.5m compared to an operating loss of $5.3m during third quarter of fiscal 2010.
The company reported net income of $2.7m for the third quarter of fiscal 2011, compared to a net loss of $5.5m for the same period last year.
Diluted earnings per share were $0.03, compared to a loss of $0.06 per share for the same period last year.
Extreme Networks President and CEO Oscar Rodriguez said while their over-all performance was solid, performance in North America did not meet their expectations, as they believe their decision to make changes in their sales organisation affected their ability to execute within the quarter.
For the second quarter of fiscal 2011, Extreme Networks expects revenue of $85m to $88m and non-GAAP diluted earning per share of $0.05 to $0.07.
