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Extreme Networks fiscal Q3 loss narrows YOY

Extreme Networks Inc. said its normalized net income for the fiscal third quarter ended March 31 came to a loss of 5 cents per share, compared with the S&P Capital IQ consensus estimate of 2 cents per share.

The per-share loss decreased 60.4% year over year from 13 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $5.3 million, compared with a loss of $12.9 million in the year-earlier period.

The normalized profit margin climbed to negative 4.3% from negative 10.8% in the year-earlier period.

Total revenue grew on an annual basis to $124.9 million from $119.6 million, and total operating expenses declined from the prior-year period to $132.4 million from $139.1 million.

Reported net income totaled a loss of $10.4 million, or a loss of 10 cents per share, compared to a loss of $23.9 million, or a loss of 24 cents per share, in the year-earlier period.