Extreme Sales Rise

Extreme Networks (EXTR Quote) swings to a slight profit.

The Santa Clara, Calif., networking gearmaker posted adjusted net income of $300,000, or less than a penny a share, for the fiscal fourth quarter ended July 1. That compares with pro forma earnings of $1.1 million, or a penny a share, in the year-ago period.

Fiscal fourth quarter sales were $87.1 million, up 6% from $82.4 million a year ago. Analysts were looking for break-even results on $87.5 million in revenue, according to Reuters Research.

"We continue to drive the turnaround, focusing both on revenue growth and expense control," CEO Mark Canepa said in a press release.

For the fiscal year, Extreme recorded an adjusted profit of $2.9 million, or 3 cents a share, which compares to prior year pro forma earnings of $18.8 million, or 15 cents a share. Sales for the year totaled $342.8 million, compared to $358.6 million in fiscal 2006. That was in line with analysts' expectations.

Extreme shares were unchanged in after-hours trading Wednesday.