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General

Extreme reduces Q1 loss after revenues in line with revised forecast

Wednesday 28 October 2020 | 13:47 CET | News
Extreme Networks narrowed its fiscal first quarter net loss amid revenues in line with its upgraded forecast. Sequential improvement was meanwhile driven by all geographic regions, helped by reduced operating expenses and customer uptake of the company's cloud-based networking services. Extreme confirmed it paid back USD 20 million of its USD 55 million revolving credit facility, leaving a remaining balance of USD 15 million. CEO Ed Meyercord said Extreme will remain well positioned throughout fiscal 2021 to deliver improving operating leverage and cash flow.

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Categories: General
Companies: Extreme Networks
Countries: World
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