SAN JOSE, Calif. (AP) _ Extreme Networks Inc. (EXTR) on Wednesday reported a loss of $21.2 million in its fiscal fourth quarter.
The San Jose, California-based company said it had a loss of 18 cents per share. Earnings, adjusted for stock option expense and amortization costs, were 3 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 3 cents per share.
The maker of network infrastructure equipment posted revenue of $215.5 million in the period.
For the year, the company reported that its loss widened to $126.8 million, or $1.06 per share. Revenue was reported as $948 million.
For the current quarter ending in October, Extreme Networks expects its per-share earnings to range from 1 cent to 4 cents.
The company said it expects revenue in the range of $220 million to $230 million for the fiscal first quarter.
The company’s shares closed at $4.75. A year ago, they were trading at $8.11.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EXTR at https://www.zacks.com/ap/EXTR
The Associated Press
