Benefit fromflexible network fabrics that provide the automation and visibility toadapt to any application workload on any domain. "We are very focused on driving growth in our business through increased efficiency and sales productivity. We've made changes to streamline operations as we head into the second half of 2020. Also their online classes are all behind a pay wall which makes it difficult to manage the … On April 19, 2015, Charles W. Berger resigned as CEO, and was replaced by Board Chairman Ed Meyercord. Competitors of Extreme Networks include Hewlett Packard Enterprise, Juniper Networks and Cisco. Gartner Peer Insights Customers' Choice constitute the subjective opinions of individual end-user reviews, ratings, and data applied against a documented methodology; they neither represent the views of, nor constitute an endorsement by, Gartner or its affiliates. Avaya was acquired by Extreme Networks in 2017 and the former employees were laid off one large group after another without mercy. Extreme Networks is laying off 13% of its workforce, or about 90 employees, in an effort to reduce expenses by $7 million per quarter. TheLayoff.com, a website that tracks downsizing across the corporate world, reported that 12 percent of the company’s workforce was affected by the latest purge. TheLayoff.com is live since January 31, 2009! Read employee reviews and ratings on Glassdoor to decide if Extreme Networks is right for you. Create custom connections for every user and device with greater security and reduced complexity and cost. Extreme Networks. Extreme Networks Inc. published this content on 04 December 2020 and is solely responsible for the information contained therein. Extreme Networks excludes restructuring expenses since they result from events that occur outside of the ordinary course of continuing operations. Restructuring expenses. Consists of associated expenses for stock options, restricted stock and the Company's Employee Stock Purchase Plan. Extreme Networks excludes share-based compensation expenses from its non-GAAP measures primarily because they are non-cash expenses that the Company does not believe are reflective of ongoing cash requirement related to its operating results. Forward Looking Statements:Statements in this release, including those concerning the Company's business outlook, future financial and operating results, acquired technologies and operations, future price increases, changes to our supply chain, the introduction of new products, the impact of tariffs on our products, the success of our digital transformation initiatives, the impact of the Aerohive acquisition integration, and overall future prospects are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. 14 Extreme Networks Reviews by current and past employees about salary & benefits work culture skill development career growth job security work-life balance and more. Win every interaction at the edge by delighting customers, empowering staff, and deflecting threats. Supplemental financial information to be discussed during the conference call will be posted in the Investor Relations section of the Company's website www.extremenetworks.com including the non-GAAP reconciliation attached to this press release. Extreme Networks headquarters is located at 6480 Vía Del Oro, San Jose. We use cookies for traffic analytics and ad and content personalization. The devices are made in useful configurations, with industry standard technologies and features, comparable to any other networking vendor. News, personal experiences, rumors and speculations about layoffs at your company. The conference call will be available to the public through a live audio web broadcast via the internet at http://investor.extremenetworks.com and a replay of the call will be available on the website through February 5, 2020. While coronavirus is making all companies rethink their business, our decisions are more related to our existing plans and changes in the market,” the company said in a statement. April 17, 2020. Extreme Networks Inc. published this content on 03 December 2020 and is solely responsible for the information contained therein. Stock-based compensation. As shown in the table below (in thousands): *Net Debt is defined as gross debt minus cash: as shown in the table below (in millions): Business Outlook:Extreme's Business Outlook is based on current expectations. 10 on our list, partners have a … 15 years 4 months. As noted with No. In preparing non-GAAP information, the Company has excluded, where applicable, the impact of share-based compensation, acquisition and integration costs, acquired inventory adjustments, amortization of acquired intangibles, inventory valuation adjustment, restructuring charges, income tax and free cash flow. The Company believes that excluding these items provides both management and investors with additional insight into its current operations, the trends affecting the Company, the Company's marketplace performance, and the Company's ability to generate cash from operations. For one, their customer service team is pretty much only interested in sales and not support. We call this Customer-Driven Networkingâ¢. Extreme Networks, Inc. (EXTR) creates effortless networking experiences that enable all of us to advance. We made progress in the integration of Aerohive Networks and in extracting related synergies. My overall experience with Extreme Networks, and their products has not been a favorable one. For more information, visit Extreme's website or call 1-888-257-3000.  Extreme Networks excludes these expenses since they result from an event that is outside the ordinary course of continuing operations. The networking firm in an email Wednesday said it’s focused on becoming the industry’s first cloud-driven enterprise networking vendor as it … Pros. Don’t stop, it’ll soon be here. Acquired inventory adjustments. About Extreme Networks:Extreme Networks, Inc. (EXTR) is the industry's first cloud-driven, end-to-end enterprise networking company. We have used Extreme Networks switching equipment for at least 15 years now. Conference ID # 2146939. Our best-of-breed technology solutions, from the wireless and IoT edge to the data center, are flexible, agile, and secure to accelerate the digital transformation of our customers and provide them with the fastest path to the autonomous enterprise. “Don’t stop thinking about tomorrow. Non-GAAP Financial Measures:Extreme provides all financial information required in accordance with generally accepted accounting principles ("GAAP"). A limitation of the utility of the non-GAAP free cash flow metric as a measure of financial performance is that it does not represent the total increase or decrease in the Company's cash balance for the period. Disclaimer. Where are Extreme Networks offices? Basic and diluted net (loss) income per share: Shares used in per share calculation - basic, Shares used in per share calculation - diluted, CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS. Share your opinion and gain insight from other stock traders and investors. SAN JOSE, Calif., Jan. 29, 2020 /PRNewswire/ -- Extreme Networks, Inc. ("Extreme") (Nasdaq: EXTR) today released financial results for its fiscal second quarter ended December 31, 2019. Extreme Networks also provides group life insurance, short-term disability insurance for accidents or illness, long-term disability insurance, and death benefits, which cover certain causes of death. The following statements are forward-looking, and actual results could differ materially based on market conditions and the factors set forth under "Forward-Looking Statements" below. It’ll be, better than before, yesterday’s gone, yesterday’s gone.”– Christine McVie, Fleetwood Mac These words, first released in March 1977 by the British-American band Fleetwood Mac in their song “Don’t Stop”, have become prophetic for the cloud networking industry and Extreme Networks… For its third quarter of fiscal 2020, ending March 31, 2020, the Company is targeting: Shares outstanding used in calculating GAAP EPS, Shares outstanding used in calculating Non-GAAP EPS. Join to Connect. Extreme Networks’ Chief Operating Officer Norman Rice told CRN USA last week that the company hit a few supply chain road bumps as the COVID-19 coronavirus pandemic led to issues with component makers in Asia. Glassdoor “We are aligning and converging our global teams so we can dynamically respond to the market and changes in investment profiles. Read more about working at Extreme Networks. Artificial intelligence alone can add USD 500 billion to economy, Addressable market for OEMs likely to be over Rs 10 lakh cr by 2025, Ant Group denies considering selling Paytm stake, China’s Ant considers Paytm stake sale amid tensions with India. Vice President Corporate Controller at Extreme Networks San Francisco Bay Area 71 connections. I am confident that these changes, along with the refresh and stratification of our product portfolio, will enhance our go-to-market efforts and allow us to drive further gross margins.". I have been working at Extreme Networks full-time for less than a year. Extreme Networks has offices in San Jose, Herndon, Lake Mary, … Extreme Networks did not respond to CRN USA’s question regarding which business units specifically will be affected by the cuts. "Our Q2 Non-GAAP EPS of $0.13 was the result of achieving our long-standing Non-GAAP gross margin target of 60% for the first time in Extreme's history and growing operating margin both year-over-year and quarter-over-quarter. Income tax adjustment relates to a tax benefit resulting from changes introduced by Tax Reform related to US net operating losses allowing the release of US valuation allowance as well as a separate tax benefit resulting from the release of a foreign valuation allowance given anticipated future profitability. The firm last week put out a business update outlining the impact of COVID-19 to its financial results for its third fiscal quarter, which Extreme is slated to announce in June. Get insights, visibility and control with advanced security and superior quality of user experience, Network switching products from Edge to Coreâthe foundation of a next-gen network, Lightning speed and scalable routers ideal for enterprise, data center, and service providers, Introducing the industryâs first flow-based 802.11ac Wave 2 wireless products, Network solutions consultation and implementation, Dedicated customer advocacy team to ensure that all your services needs are met, Superior, around-the-clock support for your network configuration, Fully managed, ITIL-based network services, defense & infrastructure, A wide selection of instructor-led and self-paced technical courses, A simple way for institutions to obtain Extreme software license access. By clicking on any of the content or interacting with any section of this website, you are agreeing to this use of cookies in the manner described in our Privacy and Cookies Policy. Adjustments to reconcile net loss to net cash provided by operating activities: Reduction in carrying amount of right-of-use asset, Non-cash restructuring and impairment charges, Unrealized/realized gain on equity investment, Changes in operating assets and liabilities, net of acquisitions, Net cash provided by operating activities, Business acquisitions, net of cash acquired, Proceeds from issuance of common stock, net of tax withholding, Payment of contingent consideration obligations, Net cash provided by (used in) financing activities, Cash and cash equivalents at beginning of period, Cash and cash equivalents at end of period, Extreme Networks, Inc.Non-GAAP Measures of Financial Performance. Extreme this week revealed several financial assistance programs for partners in the midst of the global pandemic, including deferred payments, extended rebates, and longer certifications deadlines. Extreme Networks expects to incur share-based compensation expenses in future periods. Extreme Networks is laying off part of its workforce, but itâs not blaming the COVID-19 coronavirus pandemic for its latest round of layoffs, the company told CRN USA. Extreme believes these non-GAAP measures when shown in conjunction with the corresponding GAAP measures enhance investors' and management's overall understanding of the Company's current financial performance and the Company's prospects for the future, including cash flows available to pursue opportunities to enhance stockholder value. In addition, because Extreme Networks has historically reported certain non-GAAP results to investors, the Company believes the inclusion of non-GAAP measures provides consistency in the Company's financial reporting. The following table shows the GAAP to non-GAAP reconciliation for Q3 FY'20 guidance: The total of percentage rate changes may not equal the total change in all cases due to rounding. 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