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Extreme Networks Announces Strategic Restructuring Plan and Preliminary Revenue and EPS for Fiscal Q4 2011

SANTA CLARA, Calif. July 14, 2011 $20 million $3.5 million July 3, 2011

As part of the organizational changes, the company will be consolidating most of its software engineering resources into its current facilities in lower cost venues, and expects the consolidation to be complete by the end of the calendar year. Transitioning these resources to lower cost areas will enable the company to enhance its R&D investment in new product development and innovation by increasing headcount over the course of the year.  The company is reducing headcount in all functional areas outside of R&D, to better align its cost structure with it stated operating model.  

Oscar Rodriguez

Rodriguez continued, "I expect that these actions and the actions we have taken over the last 2 quarters, in combination with the new mobility and hosted data center products we have announced for delivery in FY’12, will position the company for stronger financial results and improved returns for our shareholders."

$80-$85 million $88 – $90 million $0.01 to $0.02 $0.03 – $0.05 $0.02 – $0.04 $1.5 million $ 3.1 million

Monday, August 1, 2011

Non-GAAP Financial Measures

Extreme Networks provides all financial information required in accordance with generally accepted accounting principles (GAAP).  To supplement financial information presented in accordance with GAAP, the company is also providing with this press release non-GAAP earnings/loss per diluted share.  In preparing non-GAAP information, the company has excluded, where applicable, the impact of restructuring charges and share-based compensation.  The company believes that excluding these items provides both management and investors with additional insight into its current operations, the trends affecting the company and marketplace performance.  In particular, management finds it useful to exclude these items in order to more readily correlate the operating activities with the ability to generate cash from operations.  Accordingly, management uses these non-GAAP measures, along with the comparable GAAP information, in evaluating historical performance and in planning future business activities.  Please note that the company’s non-GAAP measures may be different than those used by other companies.  The additional non-GAAP financial information that is presented should be considered in conjunction with, and not as a substitute for, financial information presented in accordance with GAAP.   Extreme Networks uses both GAAP and non-GAAP measures to evaluate and manage its operations.

About Extreme Networks, Inc.

Santa Clara, California

the United States

July 3, 2011

SOURCE Extreme Networks, Inc.

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