Extreme Falls Short
The networker issues a third-quarter warning.
Extreme (EXTR) - Get Free Report shares slid 7% after the company warned of a fiscal third-quarter sales shortfall.
The Santa Clara, Calif., computer-networking shop says preliminary adjusted profit for the quarter ended Sunday was a penny a share on about $84.5 million in revenue. Extreme blamed weak demand in the U.S. and Japan for the missed financial targets.
Analysts were looking for pro forma profit of a nickel a share on $93 million in sales, according to Reuters Research.
Extreme expects to provide its fiscal third-quarter earnings report on April 25.
The stock fell 36 cents to $4.73 in after-hours trading Thursday.