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Extreme Beats Estimates, Sees Uptick

Extreme Networks Inc. (Nasdaq: EXTR) has posted first quarter 2005 revenues of $95.1 million, up nine percent from the same quarter last year and slightly above analyst expectations of $94.62 million (see Extreme Reports Q1 Profit).

Net income was $4.1 million, up from $2.6 million a year earlier. Earnings per share were 3 cents, again beating analyst estimates of 2 cents.

Extremes CEO Gordon Stitt was upbeat about the results and the outlook for the market, and spent much of yesterday’s earnings call talking about how the networking market is getting back on its feet.

”We believe that the climate is getting gradually better -- there are strong upgrade cycles in enterprise and metro Ethernet,” he said.

The company’s Summit 200 and 400 edge devices had been performing well, said the CEO, and revenues from the BlackDiamond 10-Gbit/s switch were up sequentially in the first quarter.

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