Extreme Networks! - 500 Beiträge pro Seite

[panik]

Ich dencke das man jetzt Extr kaufen sollte,sehr gute Firma!

Profile:
Extreme Networks, Inc. is a leading provider of broadband networking solutions for the Internet economy, focusing on high-performance multilayer capabilities that scale to meet the demands of networks based on Ethernet and IP technologies. The markets for these solutions include: metropolitan area networks (ISP peering groups, Internet exchange providers and cyber building network providers); service providers (ISPs, co-location and hosting firms and application service providers); web content providers; e-commerce businesses; and large enterprises. The Company`s family of BlackDiamond, Summit, and Alpine and switching solutions are built on a combination of ExtremeWare management software and an ASIC-based common architecture that enable service providers, e-businesses and enterprises to expand their businesses and be more competitive by speeding traffic through a simplified, super scalable network infrastructure

[panik]

Gestern nachbörslich diese News!

Extreme Networks maintains fiscal 2001 outlook: CFO
SAN FRANCISCO, Feb 7 (Reuters) - Extreme Networks Inc. (NasdaqNM:EXTR - news) declared on Wednesday that it is holding the fort for now, as its chief financial officer reiterated the networking equipment maker`s financial outlook for 2001, one day after networking giant Cisco Systems Inc. (NasdaqNM:CSCO - news) surprised Wall Street with lower earnings and downwardly-revised forecasts.

At a technology investors conference held by Banc of America, Extreme CFO Vito Palermo said the company`s strong sales outside of the United States and to big businesses -- rather than telecommunications service providers, who have in recent months reportedly cut their spending dramatically -- would insulate the Santa Clara, Calif., company.

``We`re not naive. We know there is a lot of change going on,`` said Palermo. ``But there are no surprises or changes in our guidance.``

``Extreme is a well-positioned company in the IP space,`` said Banc of America analyst, Shaw Wu, who introduced Palermo to the audience of investors and analysts.

Wu, who rates Extreme a ``buy``, said Extreme`s ``stock has been unfairly punished.``

Extreme, which makes broadband switches that run on the Ethernet standard for wide area networks, fell 12 percent before the speech during regular trade on Nasdaq to end at $31-3/4.

Stockwatchers attributed the drop to fallout from Cisco Systems` disclosure on Tuesday that it had missed quarterly earnings forecasts for the first time in more than three years, and that revenue growth was slowing for the networking infrastructure giant.

At its last earnings call in late January, Extreme forecast fiscal 2001 revenue of $615 million to $635 million, and 2002 revenue of $950 million to $1 billion.

Extreme had 54 percent of its sales outside of North America in the most recent quarter, Palermo said. About 70 percent of sales go to big corporations, with less than 2 percent to dot-com companies.

``We have no exposure in areas that are soft,`` he said.

Another Cisco rival, Redback Networks Inc. (NasdaqNM:RBAK - news), fell more than 10 percent before recovering to end regular trade on Wednesday down 3 percent to $41-9/16.

Redback, which competes with Cisco in the market for metropolitan optical networking equipment, also did not lower its forecast for fiscal year 2001 at the Banc of America conference. At its last earnings call, Redback forecast 2001 revenue of $735 million with gross margins between 50 percent and 55 percent.

``We don`t see the issues that Cisco is facing,`` said Redback`s Chief Executive Officer, Vivek Ragavan, on Tuesday at the same Banc of America conference. ``Our visibility is strong.``

[neo_zwodausnd]

hi allerseits!
bin z. Zt. auch am beobachten dieses wertes. kommt mir recht vielversprechend/
zukunftssicher vor, die technologie. bei den derzeitigen kursen kann man,
finde ich, scho mal kleine positiönchen aufbauen! die gewinnreihe sieht ja auch
recht vielversprechend aus.
gibts eigentlich nicht auch irgendwo etwas mehr analysen auf deutsch,
vor allem aktuellere als bei onvista.de??
gruß, neo

[panik]

Extreme Networks (EXTR:Nasdaq - news) was up 7.5% in preopen Island trading.

The company`s CFO, speaking at the Banc of America Securities conference Wednesday, reiterated Extreme`s guidance for 2001.

The comments came a day after networking giant Cisco (CSCO:Nasdaq - news) missed estimates and offered a dim forecast. Cisco, which touched a 52-week low intraday Wednesday, was up 0.2% preopen.


Bin heute eingestiegen.

[panik]

Twist in high-speed networking may create new battleground
By Wylie Wong
Staff Writer, CNET News.com
February 8, 2001, 12:30 p.m. PT
Think of it as a newly built superhighway with nearly limitless lanes for traffic.

The next battleground in high-speed networking is likely to bring the benefits of an office network to sprawling telecommunications layouts, lowering the costs of being in the communications business.

Cisco Systems, Extreme Networks, Foundry Networks and others are using their expertise in Ethernet, a popular technology used to connect PCs in the office, to come out with new lower-cost hardware that telecommunications service providers can use to offer fast Internet access at cheap prices.

"Applications, such as video streaming, are going to flourish," said Frank Robles, vice president of corporate development for Yipes, a start-up that offers cheap but fast Net service to businesses. "When the handcuffs were taken off with memory of computers, applications exploded. The same thing will happen with more bandwidth."

Today, most businesses are using Ethernet-based connections that run at either 10 or 100 megabits per second (mbps) or 1 gigabit per second (gbps). That is the speed that bits of information travel across a network. Networking companies and an industry standards group are in the midst of a two-year effort to boost Ethernet`s speed tenfold: to 10 gbps.

With a new high-speed version of Ethernet in the works, networking companies hope to tap into a hot new service provider market, where start-ups, such as Yipes and Telseon, recently captured about $200 million each in venture capital funding. They are attempting to undercut more established companies by selling lines to businesses using Ethernet technology and optics, rather than more costly T1 lines.

The start-ups, which also include Cogent Communications and Intellispace, have been using Ethernet-based equipment that run at gigabit speeds. But with the higher-speed Ethernet, they can soon offer Net connections that are ten times faster. The extra bandwidth will allow them to offer new services, such as video-on-demand and storage of company data.

Even though the 10 gigabit Ethernet standard won`t be finalized until March of 2002, analysts said most networking companies will ship products supporting 10 gigabit Ethernet in the second half of this year.

The networking companies will fight for a piece of the 10 gigabit Ethernet market that will grow from $71.4 million in revenue this year to $3.6 billion in 2004, according to analyst firm Dataquest.

Foundry and Extreme executives said their 10 gigabit Ethernet products will ship in the second half of the year. Cisco is currently showing prototypes of its 10 gigabit Ethernet technology to its customers.

Cisco executives declined to state when Cisco will ship products but did say the company plans to ship before the standard is finalized this spring. Networking executives said their customers can quickly and easily upgrade the early 10 gigabit Ethernet technology when the final version of the standard is released. That is a plan similar to what transpired when gigabit-speed Ethernet was introduced to the market in the late 1990`s.

The higher-speed Ethernet products will be used to unclog congestion on corporate networks, providing the extra capacity needed for employees to perform bandwidth-demanding tasks on their computers, such as exchanging large files, conducting video conferences, or making phone calls over the Net.

But analysts say the new version will be most popular among service providers first, particularly start-ups that are using Ethernet-based equipment to offer faster high-speed Net access at cheap prices.

"It will initially be a carrier play," said analyst Ron Westfall, of Current Analysis. "This will allow them greater capacity to offer a wider range of Internet-based services beyond just Net access, like video services."

Eventually, traditional phone carriers that offer Net connections using older data networks will also switch to Ethernet-based networks, said Forrester Research analyst Charles Rutstein.

Ethernet-based network equipment serves as a cheaper replacement for other high-speed networking technologies that service providers have historically used, such as asynchronous transfer mode (ATM) and synchronous optical networking (SONET) technology, according to analysts.

Rutstein said he expects traditional phone companies, which have used the older networking technology in the past, will eventually start using the 10 gigabit Ethernet technology because it`s cheaper. The 10 gigabit Ethernet technology runs at speeds that are comparable to the fastest SONET speeds, he said.

Networking executives say offices that have big appetites for network bandwidth, such as government labs, will also be among the first to buy the early products.

"We`re talking early adopters this year," said Bruce Tolley, Cisco`s manager of emerging technologies. "We`ve got energy companies who have to send large image files, people who do medical simulations of HIV treatments and need the fat 10 gigabit pipes."

Networking analysts and executives envision a future where Ethernet-based systems are everywhere, from corporate networks to the Internet.

Using Ethernet in both corporate and service provider networks will be cheaper and provide an easier network to maintain, analysts said. Service providers, for example, won`t have to translate data from one networking protocol, such as Ethernet, to another networking protocol, such as ATM, while it travels to its destination, Rutstein said.

"That`s a pain for service providers to have to translate on both ends," he said.

[panik]

Title Jim Jubak: CSCO`s Glory Days Over
Add Date 2/10/2001 8:16:17 AM
Sector Business Services, Computer Hardware, Internet, Semiconductors
Symbols AMCC;Applied Micro Circuits, BRCM;Broadcom Corporation, CSCO;Cisco Systems, Inc., EXTR;Extreme Networks, Inc, JNPR;JuniperNetworks, PMCS;PMC-Sierra, Inc., RBAK;Redback Networks Inc., VTSS;Vitesse Semiconductor
Category Stock Picks, Stocks To Watch, Traders` Flash, Traders` Notebook
Report Source Jim Jubak
Media Source MSN MoneyCentral.com ®

[panik]

Ericsson and Extreme Networks Extend Ethernet Into Residential Market
Leading Swedish Telco Skanova Provides Swedish Homes With Broadband Access for TV Broadcasting, Video and Internet Access
SANTA CLARA, Calif., Feb. 12 /PRNewswire/ -- Residents in Sweden will gain broadband Internet access through one of the world`s first Ethernet network build outs. Extreme Networks (Nasdaq: EXTR - news) and Ericsson have been tapped by Skanova, a Swedish independent wholesale network provider within the Telia group, to provide a Gigabit Ethernet and IP switching foundation for the first global Ethernet infrastructure for homes in Sweden. Residents within the Telia Ethernet network will realize a broad portfolio of broadband access for TV broadcasting, video and Internet applications.

Ericsson, the world`s leading communications supplier, will integrate Extreme Networks` award-winning IP Ethernet switch routers into its solutions for the Sweden-based residential Ethernet deployment. Extreme Networks has been a major Ethernet network solution supplier of choice for Ericsson for more than two years as it continues to expand its international telecom systems business.

``Extreme Networks enables us to build the world`s communications systems,`` said Joran Hoff, President and CEO of Ericsson Business Innovation. ``With Extreme Networks` leading IP Ethernet network solutions we are able to successfully serve Skanova and other leading telcos around the world and continue to advance the way people and businesses communicate.``

The Skanova-based IP infrastructure deployment marks Extreme Network`s second major breakthrough announcement specifically focused on extending Ethernet into markets where Ethernet has never before existed. Earlier this month, Extreme completed its acquisition of Optranet for extending Ethernet over WAN interfaces for the last mile as well as in-building Ethernet over voice grade cabling.

``Extreme Networks has built a strong business on the vision that Ethernet will be everywhere -- providing the efficient and dynamic exchange of information that businesses and homes will require,`` said Gordon Stitt, CEO, Extreme Networks. ``Our Ethernet Everywhere strategy and our unparalleled technology development have enabled enterprise corporations, telcos, ISPs and service providers to expand, to better compete and to fulfill increasing customer demand. We recently announced the only first-mile Ethernet solution to enable small businesses to go broadband. And now, the residential market will reap the same benefits.``

The new Extreme Networks modules offer telcos and large enterprises an advanced Ethernet Service Provisioning platform for Ethernet over multiple transport systems. This helps address today`s problem of slow performing and costly legacy technologies that are the hurdle to providing users with fast, direct access.

``Ethernet based access will be an important part of our broadband access network,`` said Ove Alm, Vice President of Skanova, an independent wholesale network provider within the Telia group. ``Ericsson`s and Extreme Network`s products target precisely this market and will provide us with the capabilities to offer our customers the best service on the market.``

About Skanova

Skanova is an independent wholesale network provider within the Telia group of companies. Skanova operates Sweden`s largest telecom and data network, and offers its customers full network access, services and support. Our goal is to meet the growing need for top quality services. The challenge lies in enhancing the competitiveness of our customers with ground breaking, sometimes unexpected, solutions. We have 2,500 employees, and our estimated turnover for our first year of operations is SEK 20 billion.

About Ericsson

Ericsson is the leading communications supplier, combining innovation in mobility and Internet in creating the new era of Mobile Internet. Ericsson provides total solutions covering everything from systems and applications to mobile phones and other communications tools. With more than 100,000 employees in 140 countries, Ericsson simplifies communications for customers all over the world. Read more at http://www.ericsson.com/pressroom

About Extreme Networks

Extreme Networks, Inc. delivers a simplified approach for building the network infrastructure that facilitates today`s digital communication. Based on Ethernet and IP technologies, the Company`s family of BlackDiamond®, Alpine(TM), and Summit® switching solutions incorporate a unique combination of ExtremeWare® management software and an ASIC-based common architecture.

Headquartered in Santa Clara, Calif., Extreme Networks was listed as the ``Fastest Growing Company in Silicon Valley`` based on three-year revenue growth by the San Jose and Silicon Valley Business Journal. For more information, visit www.extremenetworks.com.

This press release may contain forward-looking statements relating to future events that involve risks and uncertainties. These statements are only predictions and actual results could differ materially from those anticipated in these statements based upon a number of factors including future sales, technical development, and product introduction by Extreme Networks and by competitors. These and other risks relating to Extreme Networks` business are set forth in Extreme`s filings with the SEC, specifically the most recent report on Form 10-K, and the other reports filed from time to time with the SEC.

NOTE: Extreme Networks, ExtremeWare, BlackDiamond and Summit are registered trademarks of Extreme Networks, Inc., and Alpine and Ethernet Everywhere are trademarks of Extreme Networks, Inc., in the United States and other countries.

SOURCE: Extreme Networks, Inc.

[panik]

City Of Windsor Builds Broadband Metro Network Using Ethernet Switch Routers From Extreme Networks
City-wide Network Delivers High-Speed Connectivity to 60 Municipal Locations
MUNEGOV CONFERENCE, TORONTO, Feb. 13 /PRNewswire/ -- Signifying the continued acceptance of Ethernet as the leading technology for broadband communications across metro networks, Extreme Networks (Nasdaq: EXTR - news) today announced that its Gigabit Ethernet switching solutions are powering a city-wide network for the City of Windsor, Ontario, Canada.

The new fiber network touches more than 60 different municipal locations, such as City Hall, the fire department, road and vehicle maintenance, social services and public libraries. By establishing Gigabit trunks with aggregated 100Mb links to servers, Windsor enjoys a high-speed network with the bandwidth that opens the door to numerous options for software and media applications. Windsor selected a combination of Extreme Networks` award-winning switch routers, specifically the BlackDiamond® core switch and Summit® stackable switches, supporting multiple VLANs, Quality of Service (QoS) and a single, uniform management platform.

``In defining our goals for the Windsor project, we purposely raised the bar of expectations forcing us to build a metro network upon which subsequent networks would be modeled,`` said Harry Turnbull, IT Director for the City of Windsor. ``For each facet of our requirements, Extreme Networks demonstrated the experience and superior Ethernet switching solutions needed to deliver performance and reliability. Windsor is in an enviable position with our new high-speed infrastructure.``

With Layer 3 VLAN support on the Summit switching systems, Windsor can serve remote sites that are shared between multiple departments with one switch, without having to forward packets to the core switch or over their auxiliary DSL network. Security policy is integrated within the switch ensuring the integrity of the separate departments.

``Metro Ethernet networks within municipalities like that of Windsor are being created to modernize communications and enhance knowledge sharing,`` said Sam Halabi, vice president of IP Carrier Marketing and Business Development for Extreme Networks. ``Ethernet`s high performance and advanced IP features creates a single platform for high-bandwidth communication that supports Windsor`s multiple municipal sites.``

About Extreme Networks

Extreme Networks, Inc. delivers a simplified approach for building the network infrastructure that facilitates today`s digital communication. Based on Ethernet and IP technologies, the Company`s family of BlackDiamond®, Alpine(TM), and Summit® switching solutions incorporate a unique combination of ExtremeWare® management software and an ASIC-based common architecture.

Headquartered in Santa Clara, Calif., Extreme Networks was listed as the ``Fastest Growing Company in Silicon Valley`` based on three-year revenue growth by the San Jose and Silicon Valley Business Journal. For more information, visit www.extremenetworks.com.

This press release may contain forward-looking statements relating to future events or future financial performance that involve risks and uncertainties. Such statements can be identified by terminology such as ``may,`` ``will,`` ``should,`` ``expects,```` plans,`` ``anticipates,`` ``believes,`` ``estimates,`` `` predicts,`` ``potential`` or ``continue`` or the negative of such terms or comparable terms. These statement are only predictions and actual results could differ materially from those anticipated in these statements based upon a number of factors including future sales, technical development, product introduction by ourselves and by competitors and those identified in the Company`s filings with the SEC.

NOTE: Extreme Networks, ExtremeWare, BlackDiamond and Summit are registered trademarks of Extreme Networks, Inc., and Alpine is a trademark of Extreme Networks, Inc. in the United States and other countries.

SOURCE: Extreme Networks, Inc.

[Felicia]

Hallo Panik, was machst du den hier?
Sollten wir vielleicht doch den gleichen Geschmack haben?

-----------------------------------------------------------

EXTREME NETWORKS: Ericsson and Extreme Networks to introduce the first
Gigabit Ethernet MAN in the Middle East regionOGERO Telecom to deploy their
Core Data Network throughout Lebanon based on Extreme`s Metropolitan Area
Network (MAN) model

Dubai, U.A.E, Feb 19, 2001 (M2 PRESSWIRE via COMTEX) -- Strengthening its
Middle East operations, Extreme Networks signs an agreement with Ericsson
Lebanon Communications for the delivery of Gigabit Ethernet Metropolitan Area
Network (MAN) to Lebanon`s OGERO Telecom, the public Telecom company under
contract from the Lebanese Ministry of Telecommunications. Ericsson Lebanon
Communications will be carrying out the implementation as part of OGERO`s
network modernization.

With today`s metro and regional area networks, Extreme Networks provide a highly
available and scalable broadband infrastructure. One that delivers a
data-optimized fixed latency infrastructure and overcomes provisioning and
performance constraints. This is the only way to satisfy OGERO`s rising demand
for more IP services and reliably transport these services between their
internal networks.

"Our decision to implement Extreme`s advanced solution was mainly based on the
company`s vision of `Ethernet Everywhere` making broadband services omnipresent
and allowing us to seamlessly connect to the MAN using compatible native mode
protocols" said Dr. M. J. Chawki, president and CEO of OGERO Telecom. "In
addition to significantly simplifying our network topology using Gigabit
Ethernet technology, it also renders our corporate networks much more scalable
and maintainable, especially for future plans of commercially offering end to
end Ethernet services to certain sectors." "The strong and long-term presence of
Ericsson Lebanon in the market, and their expertise in handling projects of this
size was an important factor in our decision," added Dr. Chawki.

"Our fruitful co-operation with Extreme Networks in establishing this Gigabit
Ethernet Metropolitan Area Network (MAN) will allow our customer OGERO to
further increase its efficiency in Customer care and Billing services for the
subscribers in Lebanon," said Antoine Nehme Director, Ericsson Lebanon
Communications SARL.

"OGERO`s MAN consists of 57 core sites and 36 access sites and will cover all of
Lebanon from North to South and East to West, with an Ethernet Ring connecting
the POPs around Beirut and Ethernet extensions connecting the major cities. The
new Ethernet MAN will not only give OGERO Telecom a very robust next-generation
broadband infrastructure for their corporate needs, but will also allow them to
actually become an Ethernet Service Provider offering Ethernet to its potential
data customers." said Ammar Halabi, Regional Manager, Extreme Networks Middle
East and Africa. "Service providers and other organizations can leverage the new
optical MAN and its compatibility with existing Ethernet LANs to provide
no-hassle interconnections between different locations across Lebanon."

About OGERO TELECOM

OGERO (in French): Organisme de Gestion et d`Exploitation de l`ex-societe
Radio-Orient, was created in 1972 to run the installation of the previously
established Franco-Lebanese Radio-Orient company.

On January 15th, 1975, by decree number 9519, the organization was asked to
administer and run the existing computer for Billing and IT activities on behalf
of the Maintenance and Exploitation Directorate at the Ministry of
Telecommunications (MoT). And on September 5th, 1994, by decree number 5613, the
duties of maintenance for the MoT preexisting facilities were handed over to
OGERO in the frame of a five-year plan aiming to the installation of one million
new phone lines to be followed again by another million in a second phase.

Today, OGERO is the sole provider of fixed lines in Lebanon, with its modern
communications network. For more information, visit www.ogero.gov.lb

About Ericsson Ericsson is the leading communications supplier, combining
innovation in mobility and Internet in creating the new era of mobile Internet.
Ericsson provides total solutions covering everything from systems and
applications to mobile phones and other communications tools. With more than
100,000 employees in 140 countries, Ericsson simplifies communications for
customers all over the world. For more information, visit www.ericsson.com

About Extreme Networks, Inc.

Extreme Networks, Inc., delivers a simplified approach for building the network
infrastructure that facilitates today`s digital communication. Based on Ethernet
and IP technologies, the Company`s family of BlackDiamond, Alpine, and Summit
switching solutions incorporate a unique combination of ExtremeWare management
software and an ASIC-based common architecture.

Headquartered in Santa Clara, Calif., Extreme Networks was listed as the
"Fastest Growing Company in Silicon Valley" based on three-year revenue growth
by the San Jose and Silicon Valley Business Journal. For more information, visit
www.extremenetworks.com.

The statements contained in this press release that are not purely historical
are forward-looking statements that involve risks and uncertainties. These
statements are only predictions and actual results could differ materially from
those anticipated in these statements based upon a number of factors including
future sales, technical development, product introduction by Extreme Networks
and by competitors. These and other risks relating to Extreme Network`s business
are set forth in Extreme`s filings with the SEC, specifically the most recent
report on Form 10-K, and the other reports filed from time to time with the SEC.

CONTACT: Jean-Paul Elbekian Tel: [phone] e-mail:
[e-mail]

M2 Communications Ltd disclaims all liability for information provided within M2
PressWIRE. Data supplied by named party/parties. Further information on M2
PressWIRE can be obtained at http://www.presswire.net on the world wide web.
Inquiries to [e-mail].



(C)1994-2001 M2 COMMUNICATIONS LTD

-0-

[pepi_one]

Ich warte noch, mein Gefühl sagt mir "da kommt noch was".

[Piddy]

hey
trotz downgrade von EXTR in dieser woche ,konnte sich der
wert ins plus retten.negatives wurde nicht verarbeitet.
dies sollte,hoffentlich,ein gutes zeichen sein.
sollte naz wieder anlaufen wird EXTR unter den ersten zu
finden sein die überproportional zulegen.
gruss,piddy

[panik]

[Aktrader]

Zur Stunde fallen Extreme Networks entgegen dem aktuellen
Markttrend 9 Prozent.

Redback Networks waren ebenfalls zu Börsenhandelsbeginn
10 Prozent im Minus, haben sich aber fast vollständig
wieder erholt. Foundry ebenfalls nur leicht im Minus.

Bei Extreme fallen die hohen Umsätze ins Auge, hoffentlich
sind da nicht Insider am Werk, wie bei Foundry zu
beobachten war. News gibt es nämlich keine.

Gruss
Aktrader

[panik]

RESEARCH ALERT-Extreme Networks cut to buy
NEW YORK, Feb 27 (Reuters) - Lehman Brothers analyst Mark Sue cut his rating on networking equipment maker Extreme Networks Inc. (NasdaqNM:EXTR - news) to buy from strong buy on Tuesday.

In a report, he also cut his 12-month price target on the stock to $40 from $70.

Sue cut his outlook for 2001 earnings per share to 45 cents from 50, and trimmed his estimate for 2002 earnings per share to 82 cents from 98.

``While (Extreme Networks) is likely to benefit over the long term from an upgrade cycle to layer 3 and Ethernet in the metro, we believe that the combination of a change in demand and rising channel inventory levels may cause some near-term uncertainty,`` Sue said.

``... With increasing competitive pressures, we have now become more cautions on pricing,`` he added

The stock closed on Monday at $25-13/16.

[paiky]

EXTR wurde nachbörslich von der JDSU-Gewinnwarnung nach unten gezogen.
Kurs in Frankfurt zur Zeit: Bid 22,50 - Ask 23,50
Bei anständiger Nasdaq sollten wir m. E. heute noch Kurse von 25,00 € sehen.
Gruß, paiky

[panik]

EXTR (Neutral, $20) – Lower est from $0.14 to $0.06 (St. $0.13) for Q1, from $0.51 to $0.31 (St. $0.48) for 2001, from $0.94 to $0.38 (St. $0.92) for 2002.

By: SG Cowen
3/9/01 8:39 AM
Source

[Aktrader]

Extreme gestern +24%, nachbörsliche News:

Extreme sieht im Inland gewisse Schwierigkeiten, dafür
international gute Geschäfte. Die durchschnittlichen
Ordergrössen stiegen von 100000-150000 Dollar auf
1-3 Millionen Dollar.

Da Extreme 50% Umsatzanteil im Ausland generiert, sind sie nicht so stark betroffen vom Abschwung in Amerika.

[panik]

Tuesday March 13 3:38 PM ET
Extreme Net Is Not Seeing International Slowdown

NEW YORK (Reuters) - Extreme Networks Inc. (NasdaqNM:EXTR - news) said on Tuesday that although the U.S. market remains challenging, the communications equipment maker has not seen a slowdown in international sales and demand.

``Despite cautious comments you may heard from other companies, we are not seeing a slowdown internationally,`` Chief Financial Officer Vito Palermo said at the Merrill Lynch Global Communications Investor Conference. ``The domestic market remains choppy, but internationally we`re not seeing softness.``

The company said its sales cycle has changed as the average size of its equipment deals increased. A year ago, its average deal size was about $100,000 to $150,000. Now its average sale is in the range of $1 million to $3 million.

Although larger deals are positive, ``it makes the order pattern a little lumpier,`` Palermo said. The company said it will monitor its sales cycle closely.

Overall, Extreme Networks said has it not seen any significant changes in the level of competition or product pricing in the equipment market.

P.S Die News kam 22 Minuten vor Handelsschluß,nicht nach Börsenende.

[ceckx]

jetzt rein in extreme,riverstone hat gute zahlen gebracht

[panik]

Extreme Networks and WIND Aziende Deliver High Speed Broadband Access Throughout Italy
Global Ethernet Networking Leader Continues to Build High Performance Metro Networks
SANTA CLARA, Calif., March 29 /PRNewswire/ -- Italian businesses and residential customers will soon be able to experience broadband video, voice and data Internet connections as a result of a partnership between Extreme Networks, Inc. (Nasdaq: EXTR - news) and WIND Aziende, a global telecommunications provider. The five-year strategic partnership will focus on deploying metro area networks (MANs) throughout Italy extending Extreme Networks lead in deploying advanced Gigabit Ethernet metro networks.

The WIND partnership marks Extreme Network`s second major European Ethernet deployment in less than a month and further demonstrates the rising acceptance of its ``Ethernet Everywhere``(TM) vision by providing a leading Internet platform to Europe`s broadband driven environments. Extreme Networks recently announced a similar agreement with Ericsson and Swedish telecommunication provider Telia to build an all-Ethernet network in Sweden for broadband residential Internet connections.

WIND will utilize Extreme Networks efficient network architecture to provide their corporate and consumer customers with increased bandwidth to support a greater selection of communication needs.

``The choice of Extreme Networks as a technological partner was motivated by its high performance solutions making it possible to deploy broadband services in a simple way,`` said Eugenio Pignatelli, Marketing Corporate Manager for WIND. ``Extreme Networks is a trusted partner capable of offering reliability, from both a technological and an implementation standpoint.``

``Together with WIND, Extreme Networks has extended its leadership in deploying broadband metro networks delivering Internet voice, video and data services,`` said Sam Halabi, vice president of IP Carrier marketing and business development for Extreme Networks. ``Telecommunications leaders recognize that Gigabit Ethernet is the superior choice for building an infrastructure designed to service customers and return investment dollars. Using a visionary approach to building its metro network, WIND is assuring Italian customers reliable bandwidth for their growing communications needs.``

Extreme Networks` reach into the Italian market expands on its leadership in providing network infrastructure and services for advanced applications. By integrating Extreme Network`s broadband services, WIND will offer a solution for its customers` increased communication needs. The Italian MANs will be fortified on Extreme Networks` BlackDiamond®, Alpine(TM) and Summit® switching solutions. Extreme Networks` Ethernet technology enables networks with a simple design that provide high speeds and scalable features. The network is based on the ExtremeWare® management platform offering Web-based configuration and policy-based Quality of Service (QoS) to continuously monitor network traffic thereby avoiding congestion and ensuring premium end-to-end service.

As a part of the build out, the Italian MANs will be based upon Extreme Networks` WDM (Wave Division Multiplexing) technology to increase the capacity of its fiber optic links through the transmission of a greater number of signals on the same optical cable. The use of WDM as the broadband access technology will enable the Ethernet to establish itself on a wider scale, as well as transporting data packets at very high speeds in the urban and suburban areas.

Extreme Networks, Inc.

Extreme Networks, Inc. delivers a simplified approach for building the network infrastructure that facilitates today`s digital communication. Based on Ethernet and IP technologies, the Company`s family of BlackDiamond, Alpine, and Summit switching solutions incorporate a unique combination of ExtremeWare management software and an ASIC-based common architecture.

Headquartered in Santa Clara, Calif., Extreme Networks was listed as the ``Fastest Growing Company in Silicon Valley`` based on three-year revenue growth by the San Jose and Silicon Valley Business Journal. For more information, visit www.extremenetworks.com.

WIND Aziende

WIND is a global communications operator established from the privatization of the sector. WIND is committed to significantly innovating the scenario of the telecommunications proposals by focusing on new market standards: converging of services, evolution of the Internet, global response to communication needs of persons and companies. Wind has more than eight million customers (31 December 2000) and can be undoubtedly classified as among the most rapid and highest-performing ``start-ups`` on a global scale. Wind`s objective is to acquire increasing market share, both in the Corporate and in the Consumer market. Further information can be obtained by visiting the web site at www.windaziende.it.

NOTE: This press release may contain forward-looking statements relating to future events that involve risks and uncertainties. These statements are only predictions and actual results could differ materially from those anticipated in these statements based upon a number of factors including future sales, technical development, product introduction by Extreme Networks and by competitors. These and other risks relating to Extreme Networks` business are set forth in Extreme`s filings with the SEC, specifically the most recent report on Form 10-K, and the other reports filed from time to time with the SEC.

Extreme Networks, ExtremeWare, BlackDiamond and Summit are registered trademarks of Extreme Networks, Inc., and Alpine and Ethernet Everywhere are trademarks of Extreme Networks, Inc., in the United States and other countries.

SOURCE: Extreme Networks, Inc.

[panik]

Thursday April 5 4:36 PM ET
Extreme Networks Warns on Results, Sets Layoffs

SAN FRANCISCO (Reuters) - Extreme Networks Inc. (NasdaqNM:EXTR - news) warned on Wednesday that third-quarter earnings and revenues would fail to meet expectations due to lower-than-expected customer orders, with the Internet infrastructure maker saying it plans to reduce its work force by 10 percent and take total charges of $47 million.

Santa Clara, Calif., Extreme said it now expects revenue for the quarter ending March 31st to be between $110 million and $115 million.

The company expects to report an operating loss, excluding charges, of between 6 cents and 8 cents per share.

Extreme plans to take charges of $2 million in the third quarter related to excess facilities, $4 million in the fourth quarter for employee-related termination costs, and $41 million in the third quarter related to ``asset impairments, write downs for minority investments, and excess inventory``, according to a statement.

Extreme was up 26 percent to $16.01 in regular trade on Nasdaq before trading was halted due to the news.

[Aktrader]

vorher haben sie aber 2 Statements herausgebracht, die
anders geklungen haben. Da könnte wieder ein paar
Sammelklagen raffgieriger US-Anwälte geben (von denen
aber null Gefahr droht).

Schade um die schönen 35% Tagesgewinn, die sie während
des Handels erreichten. Nachbörslich haben sie +9%
geschlossen. Angesichts der Gewinnwarnung noch akzeptabel.

[Shamway]

Extreme Networks, Inc.
(Nasdaq: EXTR) $16.01
Buy
2001E EPS: $0.05, down from $0.52
2002E EPS: $0.10, down from $1.00

Paul Johnson, Communications/Networking
"After the close of the market on Thursday, April 5, 2001, Extreme
announced that it expects to report financial results for its March
quarter below Street consensus expectations," said Johnson. "Extreme
attributed the majority of the revenue shortfall this quarter to a large
number of delayed orders and requests for delayed shipments very late in
the quarter. We believe that the company experienced the majority of the
shortfall in its North American business, resulting in a revenue mix shift
towards international. Management commented that the majority of service
provider revenues were derived from shipments to existing emerging service
provider customers and that book to bill for the quarter was greater than
one. Given the lack of visibility going forward, we are significantly
lowering our financial forecasts for fiscal 2001 and 2002. These
forecasts are based on what we believe to be very conservative assumptions
regarding Extreme`s future growth and profitability. We believe our
estimates to be conservative. Although gigabit Ethernet`s graduation to
the world of large carriers has begun to yield larger contracts for
Extreme to bid upon, sell cycles have also grown longer. Since the
majority of real competition in carrier class gigabit Ethernet is still in
developmental stage, we believe Extreme is well positioned to weather the
economic downturn that we have entered into -- reaping the benefits that
may follow. As a result, we are reiterating our Buy recommendation on
Extreme Networks."

[panik]

Extreme Networks Continues Lead in Building Metro Ethernet Networks Around the World
Extreme Teams With TelstraSaturn and Ericsson to Establish National Communications Network in New Zealand
SANTA CLARA, Calif., April 12 /PRNewswire/ -- Extending its lead in establishing broadband metro networks around the globe, Extreme Networks, Inc. (Nasdaq: EXTR - news) will supply its broadband Ethernet switching solutions to build a national communications network in New Zealand.

Working locally with service provider TelstraSaturn and Ericsson, a leader in telecommunications, local businesses and residential customers will be outfitted with high-speed network connectivity supporting next generation IP applications including IP voice and video. The partnership with TelstraSaturn and Ericsson is Extreme Networks` third major global Ethernet deployment this year and signifies further acceptance of the Company`s vision of Ethernet Everywhere(TM) networks.

``Our Ethernet-based metro networks surpass the antiquated performance of legacy telecommunications networks, providing the foundation for true convergence,`` said Sam Halabi, vice president of IP Carrier marketing and business development for Extreme Networks. ``TelstraSaturn demonstrates the continued acceptance of Gigabit Ethernet Metropolitan Area Network services for large scale telecom deployments, delivering a new age of broadband communications.``

Scaling with Ethernet, TelstraSaturn will establish an integrated IP network providing broadband Internet connectivity and a number of communication services. Extreme Networks` solutions will extend the functionality of IP from the core to the edge of the network. TelstraSaturn will be using Extreme Networks` bandwidth management features to provision Ethernet circuits up to 1Gbps speeds. Extreme Networks` Quality of Service features will be implemented to ensure bandwidth prioritization and high-quality delivery of multimedia services. Initially, services will be delivered in the cities of Auckland, Wellington and Christchurch this year.

``This will be a true carrier-class, converged IP network enabling local, national and international services including voice, data and television,`` said Jack Matthews, CEO of TelstraSaturn. ``We selected Extreme Networks to gain its leading metro solutions, with switching solutions providing redundancy with rich features from the data center to the edge of the network.``

Extreme Networks, Inc.

Extreme Networks, Inc. delivers a simplified approach for building networks based on its corporate vision of Ethernet Everywhere networks. The Company`s family of BlackDiamond®, Alpine(TM), and Summit® switching solutions incorporate a unique combination of ExtremeWare® management software and an ASIC-based common architecture to provide Global 2000 enterprises, telecommunications companies, Internet Service Providers and content providers with the ability to increase the flow of information and accommodate future network growth.

Headquartered in Santa Clara, Calif., Extreme Networks was listed as the ``Fastest Growing Company in Silicon Valley`` based on three-year revenue growth by the San Jose and Silicon Valley Business Journal. For more information, visit www.extremenetworks.com.

NOTE: Extreme Networks, ExtremeWare, BlackDiamond and Summit are registered trademarks of Extreme Networks, Inc. Alpine and ExtremeWare are trademarks of Extreme Networks, Inc. in the United States and other countries.

SOURCE: Extreme Networks, Inc.

[panik]

Extreme Networks meets estimates, 7 cent share loss
SANTA CLARA, Calif. April 18 (Reuters) - Two weeks after warning it would not meet estimates, Internet infrastructure company Extreme Networks Inc. (NasdaqNM:EXTR - news) on Wednesday reported it in fact met analysts expectations of a loss of $7.1 million or 7 cents per share for its fiscal third quarter ended March 31.

Analysts had on average expected Santa Clara, Calif.-based Extreme Networks to lose 7 cents per share in its fiscal 2001 third quarter compared to an 8 cent per share gain in the same period a year earlier, according to First Call/Thomson Financial.

The company earlier this month warned it would miss Wall Street estimates for its third quarter due to lower-than-expected customer orders and would cut an unspecified number of workers and take some $47 million in charges.

Extreme Networks shares were trading in after-market hours on Wednesday at $22.75, up from their Wednesday close of $21.75, a 20.7 percent or $3.73 gain on the day.

The company`s shares surged during market hours on Wednesday -- over 30 percent at one point -- on the Federal Reserve`s surprise 50-basis-point interest rate cut, which brought the federal funds overnight bank lending rate to 4.5 percent, its lowest level in more than 6-1/2 years.

As of Wednesday`s close, Extreme Network`s shares were down 53.9 percent since the start of the year.

[panik]

Extreme Networks Establishes Stockholder Rights Plan
SANTA CLARA, Calif., April 27 /PRNewswire/ -- Extreme Networks, Inc. (Nasdaq: EXTR - news) announced today that its Board of Directors has adopted a Stockholder Rights Plan. Under the plan, Rights will be distributed as a dividend at the rate of one Right for each share of the company`s common stock held by stockholders of record as of the close of business on May 14, 2001.

The Rights Plan is designed to prevent an acquirer from gaining control of Extreme Networks without offering a fair and adequate price and terms to all of Extreme Networks` stockholders. The Rights Plan is intended to increase Extreme Networks` ability to negotiate with potential acquiring companies to maximize stockholder value and is not intended to interfere with takeover offers or other strategic alternatives that the company`s Board of Directors believes are in the stockholders` best interests.

The Rights Plan was not adopted in response to any attempt to acquire the company. Under the plan, each Right will entitle stockholders to purchase a fractional share of the company`s preferred stock for $150.00. Each such fractional share of the new preferred stock has terms designed to make it substantially the economic equivalent of one share of common stock. Initially, the Rights will not be exercisable and will trade with the company`s common stock. Generally, the Rights may become exercisable if a person or group acquires beneficial ownership of 15 percent or more of Extreme Networks` common stock or commences a tender or exchange offer upon consummation of which such person or group would beneficially own 15 percent or more of Extreme Networks` common stock. When the Rights become exercisable, the Board of Directors has the right to authorize the issuance of one share of Extreme Networks common stock in exchange for each Right that is then exercisable.

Further details of the Rights Plan are outlined in a letter that will be mailed to stockholders as of the record date. Additionally, a copy of the Rights Plan will be filed shortly with the Securities and Exchange Commission.

About Extreme Networks

Extreme Networks, Inc. delivers a simplified approach for building networks based on its corporate vision of Ethernet Everywhere® networks. The company`s family of BlackDiamond®, Alpine(TM), and Summit® switching solutions incorporate a unique combination of ExtremeWare® management software and an ASIC-based common architecture to provide Global 2000 enterprises, telecommunications companies, Internet Service Providers and content providers with the ability to increase the flow of information and accommodate future network growth.

Headquartered in Santa Clara, Calif., Extreme Networks was listed as the ``Fastest Growing Company in Silicon Valley`` based on three-year revenue growth by the San Jose and Silicon Valley Business Journal. For more information, visit www.extremenetworks.com.

NOTE: Extreme Networks, ExtremeWare, BlackDiamond, Summit and Ethernet Everywhere are registered trademarks of Extreme Networks, Inc., and Alpine is a trademark of Extreme Networks, Inc., in the United States and other countries.


MAKE YOUR OPINION COUNT - Click Here
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SOURCE: Extreme Networks, Inc.

[panik]

EXTREME NETWORKS INC {EXTR}

Go to Full Interactive Chart Quick Analysis
• picked by Dennis McKechnie, PIMCO Innovation Fund
COMMENTS:
The stock has a better price performance than Cisco
• Cleared the deck with poor March quarter
• One of the few real improvements in all of technology
• It saw business pick up in March and continued its improvment into April

[panik]

Extreme Networks Introduces MPLS Solution to Extend Universal Reach Of Ethernet Metro Services
SANTA CLARA, Calif., April 30 /PRNewswire/ -- Delivering on its vision to provide greatly simplified broadband Ethernet switching solutions for metro networks, Extreme Networks (Nasdaq: EXTR - news) today announced its MPLS-based Ethernet metro network solution. MPLS provides a foundation for ubiquitous Ethernet services across optical-metro and wide-area networks with a vastly simplified architecture.

Extreme Networks` progressive approach to MPLS builds upon its successful efforts to pioneer Ethernet Everywhere® networks, enabling the delivery of dynamic, tiered-broadband services. The Company`s Ethernet-based MPLS solution offers a superior choice for incumbent and emerging service providers building scaleable and profitable multi-service IP networks. It extends the numerous benefits of Ethernet networks with capabilities for simplified service provisioning, transparent LAN services and guaranteed Quality of Service across optical metro and wide area MPLS networks.

``We are enthusiastic about implementing Extreme Networks` MPLS technology, allowing us to expand our value proposition by delivering smooth and scalable Ethernet services beyond local regions,`` said Kamran Sistanizadeh, CTO for Yipes Communications. ``Customers require a consistent and scalable architecture that leverages the simplicity of Ethernet. With this integrated solution, we continue to benefit from our infrastructure investment while enhancing our Ethernet services.``

The first release of Extreme Networks` MPLS solution includes Ethernet over MPLS based on Draft-Martini, an Internet Engineering Task Force (IETF) working draft describing methods for transporting the Protocol Data Units (PDUs) of Layer 2 protocols across MPLS networks.

Extreme Networks` MPLS solution provides transparent tunneling of Ethernet and SONET based services, combined with per-packet and network-wide QoS capabilities. In addition, it offers traffic engineering and fast path restoration. This creates a carrier class and readily interoperable network infrastructure spanning the geographic reach of metro and wide-area networks.

``Essential for incumbent and emerging service providers, MPLS immediately translates into revenue generating services for metro networks,`` said Sam Halabi, director of the MPLS Forum, and vice president of IP Carrier marketing and business development for Extreme Networks. ``Extreme Networks is scaling network deployments with MPLS by reducing network complexity, accelerating service velocity and increasing ROI.``

Extreme Networks` MPLS solution, shipping in June, consists of an extensible network processor and software-based module integrated with Extreme Networks` BlackDiamond® core switching solution.


Select Product Features:

-- VLAN to MPLS label wrapping
-- 802.1p and Diffserv mapping to MPLS QoS
-- Mapping SONET services into MPLS frames
-- LSP set-up using the label distribution protocol (LDP)
-- Support for up to 59k LSR labels, 1k LER labels, 4k TLS labels and no
label stack size limits


Extreme Networks

Extreme Networks, Inc. delivers a simplified approach for building networks based on its corporate vision of Ethernet Everywhere networks. The Company`s family of BlackDiamond, Alpine(TM), and Summit® switching solutions incorporate a unique combination of ExtremeWare® management software and an ASIC-based common architecture to provide Global 2000 enterprises, telecommunications companies, Internet Service Providers and content providers with the ability to increase the flow of information and accommodate future network growth.

Headquartered in Santa Clara, Calif., Extreme Networks was listed as the ``Fastest Growing Company in Silicon Valley`` based on three-year revenue growth by the San Jose and Silicon Valley Business Journal. For more information, visit www.extremenetworks.com

NOTE: Extreme Networks, ExtremeWare, BlackDiamond, Summit and Ethernet Everywhere are registered trademarks of Extreme Networks, Inc., and Alpine is a trademark of Extreme Networks, Inc., in the United States and other countries.

This announcement contains forward-looking statements that involve risks and uncertainties, including statements about future events or trends, and steps that we plan to take with respect to the financial results or financial condition of our company. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including, but not limited to: (i) the possibility that we might experience delays in the development of new technology and products; (ii) a highly competitive business environment for network switching equipment; (iii) our dependence on third-party manufacturers who may experience production problems or delays. More information about potential factors that could affect our business and financial results is included in our Annual Report on Form 10-K for the year ended June 30, 2000, and the Quarterly Report on Form 10-Q for the period ended December 31, 2000, including, without limitation, under the captions: ``Management`s Discussion and Analysis of Financial Condition and Results of Operations,`` and ``Risk Factors,`` which are on file with the Securities and Exchange Commission ( http://www.sec.gov ).

MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X08456151

SOURCE: Extreme Networks, Inc.

[panik]

Extreme Networks Provides the Network Backbone to Power NetWorld+Interop 2001 Las Vegas
LOS ANGELES--(BUSINESS WIRE)--May 4, 2001--Key3Media Group, Inc. (NYSE:KME - news) today announced attendees at NetWorld+Interop 2001 Las Vegas will experience Extreme Networks, Inc.`s (NASDAQ:EXTR - news) broadband Ethernet platform on the InteropNet Event Network (eNet), one of the most powerful and fastest 12,000-node short-term networks in the world.

Since 1999, when Extreme Networks first provided the network backbone for NetWorld+Interop, attendees and exhibitors have come to rely on Extreme Networks` Ethernet deployment to deliver seamless operations from the show floor and behind-the-scenes event management, which require the highest level of networking infrastructure that Extreme Networks provides. NetWorld+Interop, the definitive networking, Internet and telecommunications event, takes place May 6-11, 2001, at the Las Vegas Convention Center.

Extreme Networks will deploy the impressive, short-term network to meet the increasing broadband needs of NetWorld+Interop exhibitors. As the returning Network Hardware Sponsor of the eNet, Extreme Networks will be providing switched 10 and 100 Mbps connectivity and high-speed Internet access to exhibitors, conference and meeting rooms over a Gigabit Ethernet backbone.

``Extreme Networks, in a highly complex environment, consistently provides NetWorld+Interop exhibitors and attendees with the switching technology solutions and 100 percent up-time they demand,`` said Steve Wylie, director, network operations, NetWorld+Interop. ``The selection of Extreme Networks as the Official eNet Hardware Sponsor for NetWorld+Interop 2001 Las Vegas ensures that we will once again provide unparalleled customer service through the superior performance and availability of the eNet.``

Extreme Networks Products Network

Using Extreme`s award-winning products -- Alpine(TM) Ethernet service provisioning, BlackDiamond® core chassis and Summit® fixed-configuration switches -- the eNet performs Policy-Based Quality of Service (QoS) to manage bandwidth and prioritize show-critical traffic. Multiple BlackDiamond switches are deployed in the core of the eNet, while Alpine and Summit switches provide connectivity throughout the show floor. At the eNet Network Operations Center, ExtremeWare® Enterprise Manager (EEM) provides network management, configuration, status monitoring and policy networking to ensure delivery of mission-critical applications across the show network.

``Industry leaders attending NetWorld+Interop 2001 Las Vegas will be poised to unveil and discuss innovations that will greatly impact network technology,`` said Paul De Zan, vice president of corporate communications, Extreme Networks. ``As the Network Hardware Sponsor of the eNet, Extreme Networks can demonstrate the powerful solutions our customers experience every day.``

Up-to-date NetWorld+Interop information is available at www.interop.com.

About Extreme Networks, Inc.

Extreme Networks, Inc. delivers a simplified approach for building the network infrastructure that facilitates today`s digital communication. Based on Ethernet and IP technologies, the Company`s family of BlackDiamond, Alpine(TM), and Summit® switching solutions incorporate a unique combination of ExtremeWare® management software and an ASIC-based common architecture.

Headquartered in Santa Clara, Calif., Extreme Networks was listed as the ``Fastest Growing Company in Silicon Valley`` based on three-year revenue growth by the San Jose and Silicon Valley Business Journal. For more information, visit www.extremenetworks.com.

About NetWorld+Interop

NetWorld+Interop is a Key3Media Group event. Key3Media Group, Inc., is the world`s leading producer of information technology tradeshows and conferences, serving more than 6,000 exhibiting companies and two million attendees through 49 events in 16 countries. Key3Media`s products range from the IT industry`s largest exhibitions such as COMDEX and NetWorld+Interop to highly focused events featuring renowned educational programs, custom seminars and specialized vendor marketing programs. For more information about Key3Media, visit http://www.key3media.com.

Certain matters discussed in this release are ``forward-looking statements,`` including statements about Key3Media`s future results, plans and goals and other events, which have not yet occurred. These statements are intended to qualify for the safe harbors from liability provided by the Private Securities Litigation Reform Act of 1995. You can find many (but not all) of these statements by looking for words like ``will,`` ``may,`` ``believes,`` ``expects,`` ``anticipates,`` ``plans`` and ``estimates`` and for similar expressions. Because forward-looking statements involve risks and uncertainties, there are many factors that could cause Key3Media`s actual results to differ materially from those expressed or implied in this release. These include, but are not limited to, economic conditions generally and in the information technology industry in particular, the timing of Key3Media`s events and their popularity with exhibitors, sponsors and attendees; technological changes and developments; intellectual property rights; competition; capital expenditures; and factors impacting Key3Media`s international operations. In addition, the sections entitled ``Risk Factors`` and ``Management`s Discussion and Analysis of Financial Condition and Results of Operations`` in the Registration Statement on Form S-1 (File No. 333-36828) and/or the Annual Report for the year ended December 31, 2000 on Form 10-K filed by Key3Media with the SEC contain important cautionary statements and a discussion of many of the factors that could materially affect the accuracy of Key3Media`s forward-looking statements and/or adversely affect its business, results of operations and financial position, which statements and factors are incorporated herein by reference. Key3Media does not plan to update any forward-looking statements.

Note to Editors: Key3Media, NetWorld+Interop, Interop, InteropNet, eNet, COMDEX and associated design marks and logos are trademarks owned or used under license by Key3Media Events, Inc., and may be registered in the United States and other countries. NetWorld is a service mark of Novell, Inc., and is registered in certain jurisdictions. Other names mentioned may be trademarks of their respective owners.


--------------------------------------------------------------------------------
Contact:

Key3Media Group
Kimberly Heaney, 650/372-6725
[e-mail]

[panik]

Extreme Networks Extends `Ethernet Services` Over Traditional Infrastructure With Packet Over SONET
LAS VEGAS, NETWORLD+INTEROP, May 8 /PRNewswire/ -- Furthering its lead in providing more simplified and flexible Ethernet services over metro networks, Extreme Networks, Inc. (Nasdaq: EXTR - news) today announced its Packet over SONET/SDH (PoS) optical services module, the industry`s first PoS device based on network processor technology.

Extreme Network`s PoS module geographically extends Ethernet`s rich service and flexible bandwidth provisioning capabilities for service providers leveraging long range connectivity over traditional infrastructures based on SONET/SDH. Extreme Networks` Ethernet delivers a wider array of bandwidth choices, high scalability and simplified provisioning for customers. Businesses gain direct Ethernet links to the WAN, where `connection` oriented services can be received dynamically over a `connectionless` network.

Unlike the jagged bandwidth provisioning of traditional SONET networks, the Extreme PoS solution provides a smooth and gradual bandwidth increase in 1 Mbps increments, over both fiber and copper media. For the first time, rate-limiting functionality is mapped between Ethernet and SONET, enabling carriers to tailor rate-limited virtual bandwidth pipes for their customers. Integration with Extreme`s MPLS solution allows SONET-based services to be transparently delivered over MPLS networks.

Extreme Networks` PoS module implements wire-speed `netflow` for accurate accounting and billing information, and supports Policy-based Quality of Service including traffic classification with IETF DiffServ. Service providers can use these features to create tiered levels of services and offer usage-based billing as well as perform capacity planning.

``Delivering Ethernet over SONET/SDH infrastructure takes IP services further while leveraging the existing investments of service providers,`` said Sam Halabi, vice president of IP Carrier marketing for Extreme Networks. ``Extreme Networks is working with telecom service providers around the globe to draw upon the effectiveness and simplicity of Ethernet while enhancing profitability.``

Extreme Networks` PoS module, initially available for OC-3 and OC-12 interfaces, delivers higher performance for throughput and fail over latency with a rich set of functionality including usage based accounting for integrated service delivery, APS and QoS mapping capabilities allowing end-to-end service reliability.

Extreme Networks

Extreme Networks, Inc. delivers a simplified approach for building networks based on its corporate vision of Ethernet Everywhere® networks. The Company`s family of BlackDiamond®, Alpine(TM), and Summit® switching solutions incorporate a unique combination of ExtremeWare® management software and an ASIC-based common architecture to provide Global 2000 enterprises, telecommunications companies, Internet Service Providers and content providers with the ability to increase the flow of information and accommodate future network growth.

Headquartered in Santa Clara, Calif., Extreme Networks was listed as the ``Fastest Growing Company in Silicon Valley`` based on three-year revenue growth by the San Jose and Silicon Valley Business Journal. For more information, visit www.extremenetworks.com.

NOTE: Extreme Networks, ExtremeWare, BlackDiamond, Summit and Ethernet Everywhere are registered trademarks of Extreme Networks, Inc., and Alpine is a trademark of Extreme Networks, Inc., in the United States and other countries.

This announcement contains forward-looking statements that involve risks and uncertainties, including statements about future events or trends, and steps that we plan to take with respect to the financial results or financial condition of our company. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including, but not limited to: (i) the possibility that we might experience delays in the development of new technology and products; (ii) a highly competitive business environment for network switching equipment; (iii) our dependence on third-party manufacturers who may experience production problems or delays. More information about potential factors that could affect our business and financial results is included in our Annual Report on Form 10-K for the year ended June 30, 2000, and the Quarterly Report on Form 10-Q for the period ended December 31, 2000, including, without limitation, under the captions: ``Management`s Discussion and Analysis of Financial Condition and Results of Operations,`` and ``Risk Factors,`` which are on file with the Securities and Exchange Commission ( http://www.sec.gov ).


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SOURCE: Extreme Networks, Inc.

[panik]

Industry`s First Demo of Wire-Speed Switching Across 768 Ports Performed By Extreme Networks and Spirent Communications at Networld + Interop
LAS VEGAS, NetWorld + Interop, May 9 /PRNewswire/ -- Continuing to raise the bar for broadband Ethernet performance, Extreme Networks, Inc. (Nasdaq: EXTR - news), will demonstrate the industry-leading BlackDiamond®6816 chassis switch supporting 768 Fast Ethernet ports at wire-speed, using Spirent Communications` SmartBits systems at NetWorld+Interop, at booth #4159.

The BlackDiamond switch`s ability to perform wire-speed switching simultaneously across 768 Fast Ethernet ports provides an impressive display of high-density switching performance. The BlackDiamond switch delivers abundant bandwidth and density for the largest data server farms, Internet Protocol (IP) storage applications, and aggregation. The live demonstration will utilize Spirent Communications` flagship SmartBits 6000B chassis configured with 128 LAN-3101A 10/100 Mbps Ethernet modules at six ports per module to test and validate performance with real-world traffic simulation running at Layer 3. The test will feature support for 602,862 unique flows, 1536 IP addresses, and 19,200 feet of cabling.

``This impressive demonstration reveals the singular advantages of Extreme Networks` switching architecture and our commitment to delivering the most innovative networking solutions,`` said Duncan Potter, senior director of product marketing for Extreme Networks. ``The BlackDiamond 6816 provides large enterprises with the wire-speed throughput and 24 x 7 reliability they demand from a high-density switch.``

``Enabling industry leaders such as Extreme Networks to validate market leading product performance is a testament to the power of our SmartBits products,`` said Bahaa Moukadam, Spirent Communications, vice president of product marketing, SmartBits Division. ``We are excited to support Extreme Networks in the world`s largest Ethernet test.``

About Spirent Communications

Spirent Communications unites the best in performance analysis technology with network operations expertise. Our solutions enable customers to accelerate the development, deployment and assurance of next-generation network equipment and services worldwide.

Spirent Communications designs and manufactures the award-winning Adtech, DLS, Edgcumbe, GSS, Hekimian, Net-HOPPER, SmartBits, TAS and Zarak products. More than 2,500 of the world`s leading network and terminal equipment manufacturers, network service providers, corporate enterprises and test laboratories rely on our first-to-market products to verify and measure the performance and services of networks and communications devices. For more information on Spirent Communications visit www.spirentcom.com.

Spirent plc is the parent of Spirent Communications. Spirent is quoted on the London Stock Exchange, ticker SPT. The company operates at Level 1 American Depository Receipt program (ticker: SPNUY; CUSIP number: 84856M100). For information, contact Brian Heston, The Bank of New York, American Depository Receipts, 101 Barclay St, 22 West, New York, N.Y. 10286, phone [phone], fax [phone], e-mail: [e-mail], www.aadrbny.com.

Extreme Networks

Extreme Networks, Inc. delivers a simplified approach for building networks based on its corporate vision of Ethernet Everywhere® networks. The Company`s family of BlackDiamond, Alpine(TM), and Summit® switching solutions incorporate a unique combination of ExtremeWare® management software and an ASIC-based common architecture to provide Global 2000 enterprises, telecommunications companies, Internet Service Providers and content providers with the ability to increase the flow of information and accommodate future network growth.

Headquartered in Santa Clara, Calif., Extreme Networks was listed as the ``Fastest Growing Company in Silicon Valley`` based on three-year revenue growth by the San Jose and Silicon Valley Business Journal. For more information, visit www.extremenetworks.com

NOTE: Extreme Networks, Ethernet Everywhere, ExtremeWare, BlackDiamond and Summit are registered trademarks of Extreme Networks, Inc., Alpine is a trademark of Extreme Networks, Inc., in the United States and other countries.


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SOURCE: Extreme Networks, Inc.

[panik]

3ware Partners With Extreme Networks to Bring First iSCSI-Ready, Gigabit Ethernet Storage Solution to Enterprise Customers
Broadband Switching Leader, Extreme Networks, Expands `Go Purple` Extreme Solution Partners Program to Include 3ware`s Industry-Leading Gigabit Ethernet Data Storage Products
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--May 9, 2001-- 3ware® Inc., a pioneer of innovative storage solutions, has partnered with Extreme Networks, Inc. (Nasdaq:EXTR - news), a leading provider of high-performance, broadband Ethernet networks, to promote 3ware`s NSU(TM) (Network Storage Unit), the industry`s first iSCSI-ready Gigabit Ethernet storage solution.

3ware`s inclusion in Extreme Networks` `Go Purple` Extreme Solution Partners(TM) program will enable customers to build highly scalable and manageable Ethernet-based storage area networks (SANs) for their enterprises.

``The combination of 3ware`s NSU solution and Extreme`s wire-speed switching and routing provides an optimal solution for customers seeking more simple and powerful IP storage,`` said Duncan Potter, director of product marketing for Extreme Networks. ``Extreme Networks` family of modular and stackable Ethernet network solutions combine high-speed switching with multilayer traffic management capabilities for large enterprises, e-businesses, and service provider networks.``

Extreme Networks` non-blocking switch architecture provides the performance, availability, and scalability that enterprise-class SANs require. From 240 gigabytes to multiple terabytes, the 3ware NSU provides a patented StorSwitch(TM) architecture that is the foundation for 3ware`s unique approach of merging storage and networking to leverage the Ethernet infrastructure for today`s data-intensive applications such as multimedia, financial, email, and databases that demand real-time access.

``Our partnership with Extreme Networks demonstrates 3ware`s commitment to delivering a revolutionary storage product for the enterprise that is as easy to install as any plug-and-play device on the market today. It literally takes under 30 minutes to install and begin using our 3ware NSU,`` said Beau Vrolyk, president and CEO of 3ware. ``We are delighted with the customer adoption and momentum 3ware has established with the 3ware NSU. Our commitment and approach to merging storage and networking is complementary to Extreme Networks` `Go Purple` partner program.``

About Extreme Networks` Purple Partner Program

Extreme Networks` `Go Purple` Extreme solution partners program enables customers to easily select from industry-proven and interoperable products ranging in technologies from content delivery networking and caching servers, to Voice over IP (VoIP), optical networking, server load balancing, and traffic management, to advanced IP services, broadband wireless, network security, and storage area networks.

About the 3ware NSU

The 3ware NSU is the first iSCSI-ready solution to provide storage across TCP/IP, extending the reach of Gigabit Ethernet into SAN applications through an integrated end point storage switch. The 3ware NSU helps businesses meet the intensifying need for storage on demand without having to adopt new standards or commit to expensive new hardware or proprietary systems. 3ware customers can easily deploy advanced storage solutions using existing Ethernet networks. The 3ware NSU seamlessly supports multiple operating systems and is far less management-intensive to implement than today`s Fibre Channel options. Based on an open standards design philosophy, the 3ware NSU supports all network-aware (SNMP) management tools, including 3DM, 3ware`s disk management utility. The 3ware NSU can be managed by any existing tools that are capable of managing SCSI devices and, by appearing as a disk device, it works with existing storage topologies, such as FC-SAN, external DAS, or network file systems.

About Extreme Networks

Extreme Networks, Inc. delivers a simplified approach for building networks based on its corporate vision of Ethernet Everywhere® networks. The Company`s family of BlackDiamond®, Alpine(TM), and Summit® switching solutions incorporate a unique combination of ExtremeWare® management software and an ASIC-based common architecture to provide Global 2000 enterprises, telecommunications companies, Internet Service Providers and content providers with the ability to increase the flow of information and accommodate future network growth.

Headquartered in Santa Clara, Calif., Extreme Networks was listed as the ``Fastest Growing Company in Silicon Valley`` based on three-year revenue growth by the San Jose and Silicon Valley Business Journal. For more information, visit www.extremenetworks.com.

About 3ware

3ware is the first company to introduce and implement storage over TCP/IP using existing Ethernet infrastructure that brings simplicity to the complex world of data storage. With the continued rising intensity of digital data in the form of text, graphics, audio, and video, 3ware utilizes Ethernet networking to manage data storage at every level of a company, or enterprise. 3ware provides iSCSI-ready storage solutions that are reliable, scalable and cost effective, meeting the needs of both Internet applications and enterprise storage demands. The 3ware product family addresses the fundamental issues of data storage, access, back up, security, and management -- without requiring that customers adopt new standards or deal with unfamiliar technologies. Located in Mountain View, this award-winning company has a seasoned management team and a roster of established industry partners. For more information about 3ware, call 650/327-8600 or visit www.3ware.com.

Note to Editors: Specifications subject to change without notice. 3ware is a registered trademark; Escalade, 3ware NSU, StorSwitch and TwinStor are trademarks of 3ware, Inc. Extreme Networks, ExtremeWare, BlackDiamond, Summit and Ethernet Everywhere are registered trademarks of Extreme Networks, Inc., and Alpine and Go Purple Extreme Solution Partners are trademarks of Extreme Networks, Inc., in the United States and other countries.


--------------------------------------------------------------------------------
Contact:

Trainer Public Relations
Sabrina Sanchez, 925/875-1968
[e-mail]
or
Extreme Networks
Greg Cross, 408/579-3483
[e-mail]

[panik]

Extreme Networks Ships VDSL and T-1 WAN Modules for Ethernet in the First Mile
New Alpine Modules Enable Ethernet Over Multiple Transport Systems to Simplify And Lower Costs of Deploying High-Speed Broadband Services
ATLANTA, SUPERCOMM, June 5 /PRNewswire/ -- Delivering on its strategy to extend Ethernet across the global network, Extreme Networks, Inc. (Nasdaq: EXTR - news), today introduced the availability of new WAN and VDSL modules for the Alpine(TM) platform that allow for high speed Ethernet Layer 3 switching and IP services over wide area networks (WAN) over voice-grade cabling.

Ethernet in the first mile removes the complexity of delivering broadband services to business and consumer markets. The two new modules give service providers and large enterprises a transport independent Ethernet service delivery platform for the access network and WAN.

``We are continuing to deliver on our strategy of extending Ethernet from the enterprise network to access and metro networks by providing services across traditional WAN infrastructures and voice-grade cabling within the first mile,`` said Darrell Scherbarth, vice president of Extreme Networks. ``Running Ethernet over first mile access technologies allows for simpler, faster and more cost effective broadband service deployment for a variety of service provider and enterprise applications.``

The new WM-4T1i module for the Alpine switch enables service providers to deploy Ethernet in the first mile between building access points and the metro POP where fiber optic cabling is not available. The WM-4T1 module supports Multi Link Point-to-Point (ML/PPP) protocol capable of bonding multiple T1 channels together to provide scalable WAN bandwidth from 1.5 to 6 Mbps.

In addition, the WM-4T1i module enables enterprises to reduce the number of devices required to connect remote sites over a private WAN simply by adding the WM-4T1 to their Alpine switching system and eliminating the need for a stand alone router. For branch office applications, the Alpine addresses the requirements for WAN connectivity, Internet access and desktop switching in a single integrated platform.

For use within the building access network, the FM-8Vi delivers long-range Ethernet using VDSL transport over voice grade cabling. VDSL lends itself well to providing long-range Ethernet connections with up to 10Mbps symmetric bandwidth over voice-grade in-building infrastructure at up to 10 times the distances of 10Base-T Ethernet. It is an ideal technology for use in buildings that do not contain Category 5 or fiber cable. The new VDSL module for the Alpine service provisioning switch leverages all the existing QoS, bandwidth rate shaping, and wire speed layer-3 switching performance that is synonymous with the Extreme Networks` name.

The Extreme Mogul-100 VDSL/Ethernet bridge functions as customer premise equipment (CPE) to seamlessly convert the Ethernet over VDSL back into a 10Base-T interface to directly attach the customer`s LAN to the access network. The Mogul-100 replaces the complexity of a router WAN interface with the simplicity of a simple bridge.

The new FM-8Vi module includes 8 Ethernet VDSL ports, allowing up to 64 Ethernet VDSL ports per chassis. It has a US list price of $3495. The companion Mogul-100 CPE device has a US list price of $395. The WM-4T1 module with four T-1 ports and 2 10/100 Ethernet ports has a US list price of $4495.

``We`ve aggressively priced the modules to help our customers move faster to obtaining the simplicity in our Ethernet Everywhere® networks for first mile access,`` said Scherbarth.

Headquartered in Santa Clara, Calif., Extreme Networks was listed as the ``Fastest Growing Company in Silicon Valley`` based on three-year revenue growth by the San Jose and Silicon Valley Business Journal. For more information, visit www.extremenetworks.com.

This announcement contains forward-looking statements that involve risks and uncertainties.

Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including, but not limited to: (i) possible delays in the development of new technology and products; (ii) the ability to procure components for products from single or limited sources; and (iii) a dependence on third-party manufacturers. More information about potential factors that could affect our business and financial results is included in our Annual Report on Form 10-K for the year ended June 30, 2000, and the Quarterly Report on Form 10-Q for the period ended March 31, 2001, including (without limitation) under the captions, ``Management`s Discussion and Analysis of Financial Condition and Results of Operations,`` and ``Risk Factors,`` which are on file with the Securities and Exchange Commission (http://www.sec.gov ).

NOTE: Extreme Networks and Ethernet Everywhere are registered trademarks of Extreme Networks, Inc., and Alpine is a trademark of Extreme Networks, Inc., in the United States and other countries.

SOURCE: Extreme Networks, Inc.

[panik]

Celerity Delivers Next Generation Broadband Connectivity With Access Solutions From Extreme Networks
First Mile Technologies From Extreme Increase Availability of Broadband Connections for IP Video and High Speed `Net Services
ATLANTA, SUPERCOMM, June 5 /PRNewswire/ -- Leveraging the simplicity and functionality of Ethernet in the first mile, Celerity Systems, Inc. (OTC Bulletin Board: CLRT - news) has selected access solutions from Extreme Networks, Inc. (Nasdaq: EXTR - news) including both traditional Ethernet and the newly released long-range VDSL Ethernet products. Celerity is addressing next generation broadband connectivity for multi-housing properties, residential communities, hotels and healthcare facilities by integrating IP video and broadband Web access into a unified service platform.

To achieve its goal of reaching a wider array of customers with enhanced services, Celerity is complementing its Ethernet network deployments with Extreme Networks` newly available VDSL modules, which are both integrated in the Extreme`s Alpine(TM) service provisioning switch. Celerity`s solution, integrated with advanced Ethernet switching and first mile technology, consists of its premises equipment including its CTL 9500a Digital Video Server and its T 6000 Digital Set Top Box, the complete platform delivers a rich multimedia Internet experience to end-users for both work and entertainment applications.

Working with its integration partner Tele-Optics, Celerity is retrofitting buildings for high-speed connectivity while leveraging existing voice grade cabling such as CAT-3 and CAT-5. Extreme Networks` Ethernet networking equipment provides advanced traffic engineering capabilities including bandwidth rate shaping and traffic prioritization that ensure high-speed services with greatly simplified management and more rapid implementations.

``The challenge was to find a high performance platform that was simple to deploy and would reach our key markets including multi-housing properties, hotels, schools and healthcare facilities,`` said Kenneth Van Meter, president and CEO of Celerity. ``With the help of Extreme Networks, we can deliver an incredible network experience, with integrated video and broadband Internet, to virtually every room within a building.``

Ethernet decreases the complexity in networks while providing greatly enhanced performance with functionality necessary for broadband applications such as Video on Demand (VoD). VDSL proved a superior solution to legacy implementations such as ATM and lower capacity versions of DSL. With full-duplex broadband connections carried over ordinary copper wire, Celerity has the capacity and bandwidth headroom to create and deliver a full-featured service.

``Extreme Networks Layer 3 switching solutions provide a significant performance enhancement coupled with its VDSL access solution for efficient delivery of up to 10Mbps of bandwidth throughout buildings,`` said Joe Kearns, director of marketing for Tele-Optics. ``Their willingness to roll-up their sleeves and ensure a high performance solution makes an impact on our customers and builds a strong and beneficial relationship.``

Celerity Systems is a provider of advanced digital set top boxes and video servers for interactive television and high-speed Internet. Key markets include schools, hospitality, multi-housing properties, hospitals and assisted living, telcos, energy companies, and corporate applications. For more information, visit www.celerity.com.

Headquartered in Santa Clara, Calif., Extreme Networks was listed as the ``Fastest Growing Company in Silicon Valley`` based on three-year revenue growth by the San Jose and Silicon Valley Business Journal. For more information, visit www.extremenetworks.com.

This announcement contains forward-looking statements that involve risks and uncertainties, Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including, but not limited to: (i) possible delays in the development of new technology and products; (ii) the ability to procure components for products from single or limited sources; and (iii) a dependence on third-party manufacturers. More information about potential factors that could affect our business and financial results is included in our Annual Report on Form 10-K for the year ended June 30, 2000, and the Quarterly Report on Form 10-Q for the period ended March 31, 2001, including (without limitation) under the captions, ``Management`s Discussion and Analysis of Financial Condition and Results of Operations,`` and ``Risk Factors,`` which are on file with the Securities and Exchange Commission (http://www.sec.gov ).

NOTE: Extreme Networks and Ethernet Everywhere are registered trademarks of Extreme Networks, Inc., and Alpine is a trademark of Extreme Networks, Inc., in the United States and other countries.

SOURCE: Extreme Networks, Inc.

[panik]

Extreme Networks Demonstrates Interoperability for MPLS-Based Optical Metro Ethernet Services
SANTA CLARA, Calif., June 13 /PRNewswire/ -- Continuing to deliver simplified Ethernet/IP services across the global network, Extreme Networks, Inc. (Nasdaq: EXTR - news) today announced successful interoperability testing for Transparent LAN Services (TLS) across optical metro networks compliant with the Draft-Martini Internet Engineering Task Force (IETF) working document.

Multi Protocol Label Switching (MPLS)-based Ethernet technology delivers resilient and scaleable IP services across optical metro networks, providing seamless interconnection between large enterprises, carrier networks, ISPs, and data hosting centers. Extreme Networks` MPLS solution meets customer`s objectives for migration to multi-service IP networks and allows them to continue use of their existing network infrastructure. Results of the testing validated interoperability of Extreme Networks MPLS-enabled BlackDiamond® core switching system with leading Internet routing platforms that are also based on the Draft-Martini working document for Ethernet over MPLS, authored by Luca Martini of Level 3 Communications.

``I am excited to see that Extreme Networks` Ethernet-over-MPLS implementation is compliant with the IETF Draft-Martini working document,`` said Luca Martini, senior architect at Level 3 Communications. ``Lab trials have successfully demonstrated Ethernet-over-MPLS interoperability with other vendor`s products.``

Extreme Networks` MPLS solution is built upon a centralized, extensible network processor-based module. ``Our MPLS solution instantly provides the capability to transmit and receive labeled traffic originating or destined to either an Ethernet or a Packet-over-Sonet (OC3/12/48) interface,`` said Sam Halabi, vice president of IP Carrier marketing and business development at Extreme Networks. ``This is a simple and cost effective hardware solution which enables MPLS on any port on the switch.``

Testing of Extreme Networks` MPLS solution was performed in an environment designed to simulate a carrier network. This network was comprised of multi-vendor equipment using a Gigabit Ethernet interface on Extreme Networks` BlackDiamond 6808 switching platform. Data was transferred across established MPLS TLS tunnels. Targeted Label Distribution Protocol (LDP) sessions were established across a Juniper M160 router, and through the Cisco 12416 router, within an MPLS Label Distribution Protocol (LDP) domain. Label mappings were exchanged and withdrawn using Draft-Martini defined Virtual Circuit (VC) Forwarding Equivalence Class (FEC) Element. Multiple TLS tunnels to multiple LERs were established, including the Cisco 7600 OSR.

Extreme Networks, Inc. delivers a simplified approach for building networks based on its corporate vision of Ethernet Everywhere® networks. The Company`s family of BlackDiamond, Alpine(TM), and Summit® switching solutions incorporate a unique combination of ExtremeWare® management software and an ASIC-based common architecture to provide Global 2000 enterprises, telecommunications companies, Internet Service Providers and content providers with the ability to increase the flow of information and accommodate future network growth.

Headquartered in Santa Clara, Calif., Extreme Networks was listed in 2000 as the ``Fastest Growing Company in Silicon Valley`` based on three-year revenue growth by the San Jose and Silicon Valley Business Journal. For more information, visit www.extremenetworks.com .

NOTE: Extreme Networks, ExtremeWare, BlackDiamond and Summit are registered trademarks of Extreme Networks, Inc., and Alpine and Ethernet Everywhere are trademarks of Extreme Networks, Inc., in the United States and other countries.

This announcement contains forward-looking statements that involve risks and uncertainties, including statements about future events or trends. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including, but not limited to: (i) the risks associated with rapidly evolving standards and protocols; (ii) the possibility that we might experience delays in the development of new technology and products; and (iii) the potential inability to procure components for products where we have a single or limited sources. More information about potential factors that could affect our business and financial results is included in our Annual Report on Form 10-K for the year ended June 30, 2000, and the Quarterly Report on Form 10-Q for the period ended March 31, 2001, including, without limitation, under the captions: ``Management`s Discussion and Analysis of Financial Condition and Results of Operations,`` and ``Risk Factors,`` which are on file with the Securities and Exchange Commission ( http://www.sec.gov ).

SOURCE: Extreme Networks, Inc.

[panik]

Extreme Networks Promotes Rapid Adoption of Ethernet Metro Networks As a Founding Member of the Metro Ethernet Forum
SANTA CLARA, Calif., June 15 /PRNewswire/ -- Expanding its role as a pioneer in delivering broadband Ethernet technology for simple and scalable metropolitan networks, Extreme Networks, Inc. (Nasdaq: EXTR - news), today announced its membership within the newly formed Metro Ethernet Forum. The non-profit Metro Ethernet Forum was created by a group of leading network equipment vendors, emerging service providers, and incumbent carriers to accelerate the adoption of optical Ethernet technology in metro networks around the globe.

Since its founding in 1996, Extreme Networks has been at the forefront of Ethernet technology development by working with the IEEE standards body, and through its membership roles with industry organizations including the Gigabit Ethernet Alliance, 10 Gigabit Ethernet Alliance (10GEA) and MPLS Forum. Ethernet, the dominant technology within corporate LANs, has evolved to meet the intensified bandwidth needs driven by converged applications. Extreme Networks` Ethernet networks reduce the complexity and limitations that impede the ubiquitous delivery of broadband services for businesses and consumers.

``As the leader in delivering Ethernet networks, it is our philosophy to work closely with influential organizations such as the Metro Ethernet Forum to help accelerate the adoption of Ethernet applications and associated standards,`` said Tony Lee, director of marketing for Extreme Networks and acting board member, vice president and treasurer for the Metro Ethernet Forum. ``Ethernet has had a profound impact on the evolution of broadband networks and will continue to deliver benefits for the service providers that deploy them.`` Lee, an industry veteran, has key experience with leading industry coalitions. He is currently the president of the 10GEA and chaired the Gigabit Ethernet Alliance.

The 37 members of the Metro Ethernet Forum act in concert to maximize deployment of Ethernet-based metro networks by driving acceptance of existing and new technologies and standards that enable end-to-end service creation over Ethernet. These efforts optimize operation, administration and management of Ethernet in metro networks.

Extreme Networks, Inc. delivers a simplified approach for building networks based on its corporate vision of Ethernet Everywhere® networks. The Company`s family of BlackDiamond®, Alpine(TM), and Summit® switching solutions incorporate a unique combination of ExtremeWare® management software and an ASIC-based common architecture to provide Global 2000 enterprises, telecommunications companies, Internet Service Providers and content providers with the ability to increase the flow of information and accommodate future network growth.

Headquartered in Santa Clara, Calif., Extreme Networks was listed in 2000 as the ``Fastest Growing Company in Silicon Valley`` based on three-year revenue growth by the San Jose and Silicon Valley Business Journal. For more information, visit www.extremenetworks.com

NOTE: BlackDiamond, Extreme Networks, Ethernet Everywhere, ExtremeWare and Summit are registered trademarks of Extreme Networks, Inc., and Alpine is a trademark of Extreme Networks, Inc., in the United States and other countries.

SOURCE: Extreme Networks, Inc.

[gewinnwarner]

US Pre-Market Report: Techs Decline on Warnings
Freitag, 22. Juni 2001

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London (teletrader.com) – US techs fell in pre-market trading today and the companies that came up with disappointing news late Thursday even extended the overnight losses.

Early indications pointed to a flat to lower opening.

.....

And Extreme Networks (NASDAQ: EXTR) fell to $25.75 from the $27.77 close. The company announced Thursday that its CFO Vito Palermo will be leaving his post.

[panik]

Extreme Networks` CEO Selected as Ernst & Young Entrepreneur of the Year In Northern California
Gordon Stitt Recognized for Vision, Growth and Creation of an Innovative Culture
SANTA CLARA, Calif., June 25 /PRNewswire/ -- Gordon Stitt, founder and CEO of Extreme Networks, Inc. (Nasdaq: EXTR - news) has been named Ernst & Young`s Entrepreneur of the Year for 2001 for Technology and Communication, Northern California. Ernst & Young`s panel of judges selected Stitt for this prestigious award based on his innovative vision, the company`s rapid growth, and charitable endeavors.

``This award recognizes the dynamic entrepreneurial spirit behind the success of Extreme Networks,`` said Stitt. ``It`s been the outstanding contributions of our employees, along with the support of our customers, that has enabled us to become a market leader in the highly competitive data communications arena.``

Under Stitt`s leadership, Extreme Networks has ascended as a leader in best-of-breed broadband networking solutions. Today, with more than 1,000 employees and a global operation with offices in 25 countries, the Company is executing on Stitt`s vision of simplified and powerful Ethernet networks. While building a market leader, Stitt and his management team have instilled an innovative corporate culture that spurs the inventiveness, flair, and drive of a company that has grown its business from $18 million for the quarter ended Dec. 1999 to $112 million for the quarter ended March 2001.

Stitt founded Extreme Networks in 1996 along with industry veterans Stephen Haddock, the Company`s CTO, and Herb Schneider, vice president of engineering, to deliver a simplified approach to networking. Today, Extreme Networks is assisting large enterprises and service providers around the world build high-performance networks that help maximize the return on technology investments.

Extreme Networks, Inc. delivers a simplified approach for building networks based on its corporate vision of Ethernet Everywhere® networks. The Company`s family of BlackDiamond, Alpine(TM), and Summit® switching solutions incorporate a unique combination of ExtremeWare® management software and an ASIC-based common architecture to provide Global 2000 enterprises, telecommunications companies, Internet Service Providers and content providers with the ability to increase the flow of information and accommodate future network growth.

Headquartered in Santa Clara, Calif., Extreme Networks was listed as the ``Fastest Growing Company in Silicon Valley`` based on three-year revenue growth by the San Jose and Silicon Valley Business Journal in 2000. The Company`s Ethernet technology was listed as one of the ``Top 10 Tech Trends To Bet On`` within Fortune Magazine, March 26, 2001. For more information, visit www.extremenetworks.com.

This announcement contains forward-looking statements that involve risks and uncertainties, Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including, but not limited to: (i) our limited history of profitability; (ii) possible delays in the development of new technology and products; (iii) a highly competitive business environment for network switching equipment; and (iv) economic trends in worldwide geographic markets. More information about potential factors that could affect our business and financial results is included in our Annual Report on Form 10-K for the year ended June 30, 2000, and the Quarterly Report on Form 10-Q for the period ended December 31, 2000, including (without limitation) under the captions, ``Management`s Discussion and Analysis of Financial Condition and Results of Operations,`` and ``Risk Factors,`` which are on file with the Securities and Exchange Commission ( http://www.sec.gov ).

NOTE: Extreme Networks, Ethernet Everywhere, ExtremeWare, BlackDiamond, and Summit are registered trademarks of Extreme Networks, Inc. Alpine is a trademark of Extreme Networks in the United States and other countries.

SOURCE: Extreme Networks, Inc.

[panik]

Extreme Networks Broadband Ethernet Switching Solutions Power China`s Communications Networks
China Telecom Selects Extreme Networks for Regional Metro Network Deployments
SANTA CLARA, Calif., June 27 /PRNewswire/ -- Signifying its continued leadership in establishing high performance metro area networks (MANs) around the world, Extreme Networks, Inc. (Nasdaq: EXTR - news) today announced that it has been chosen to provide its broadband switching infrastructure for China Telecom`s new regional metro networks. China Telecom, in cooperation with Ericsson, Vodatel Systems and Extreme Networks, will construct Ethernet-based Fiber IP MANs within the Shandong, Hunan and Jilin provinces.

Extreme Networks` advanced switching solutions will provide users with scalable Ethernet services for high-speed data traffic supporting e-commerce, residential access and educational applications. Shandong Telecom`s metro network, serving the cities of Jinan, Jining, Weihai, Yantai, Dezhou, Dongyiang, consists of 1,300 of Extreme Networks` switches. In the Hunan province, a total of nine cities will establish services including Changde, Yueyang, Hengyang, Shaoyang, Yiyang, Huaihua, Loudi, Xiangtan, and Binzhou. Jilin Telecom will implement 60 of Extreme`s Alpine(TM) modular switching systems to build its metro network providing services throughout thirteen cities within the province.

``Ericsson and Extreme Networks have established a long-term relationship providing best-of-breed solutions throughout the world,`` said W.K. Leung, vice president of Ericsson China, Ltd. ``Using Extreme Networks` advanced solutions coupled with Ericsson`s core experience in providing regional telecom networks with operational, pre and post-sales support and services, we will continue to provide total solutions for service providers affiliated with China Telecom.``

``Through cooperation with Extreme Networks, we fully met the carrier-class quality requirements for China Telecom`s next generation MANs,`` said Richard Yim Hong, managing director of Vodatel Systems, Inc. ``We will continue to take advantage of opportunities to develop networks and work together locally, providing Chinese users with the most satisfying services and a reliable network experience.``

China Telecom is a leader in building broadband network infrastructure. They have stringent requirements for speed, operational reliability and scalability. Extreme Networks` broadband switching solutions proved ideal for China`s next-generation Internet users within business, residential and educational settings. The network supports applications including video conferencing, video-on-demand, distance learning and e-commerce.

``The development of China`s broadband IP metro network has been rapid, necessitating that vendors cooperate to provide advanced technology in a short timeframe,`` said Paul De Zan, vice president of corporate marketing for Extreme Networks. ``Extreme Networks and Ericsson have come through, delivering on each of these aspects, providing a comprehensive and simplified network solution to meet China Telecom`s needs.``

Extreme Networks

Extreme Networks, Inc. delivers a simplified approach for building networks based on its corporate vision of Ethernet Everywhere® networks. The Company`s family of BlackDiamond®, Alpine, and Summit® switching solutions incorporate a unique combination of ExtremeWare® management software and an ASIC-based common architecture to provide Global 2000 enterprises, telecommunications companies, Internet Service Providers and content providers with the ability to increase the flow of information and accommodate future network growth.

Headquartered in Santa Clara, Calif., Extreme Networks was listed as the ``Fastest Growing Company in Silicon Valley`` based on three-year revenue growth by the San Jose and Silicon Valley Business Journal. For more information, visit www.extremenetworks.com.

NOTE: Extreme Networks, ExtremeWare, Ethernet Everywhere, BlackDiamond and Summit are registered trademarks of Extreme Networks, Inc., and Alpine is a trademark of Extreme Networks, Inc., in the United States and other countries.

This announcement contains forward-looking statements that involve risks and uncertainties. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including, but not limited to: (i) the ability to procure components for products from single or limited sources; (ii) a dependence on third-party manufacturers, (iii) a highly competitive business environment for network switching equipment; and (iv) economic trends in worldwide geographic markets. More information about potential factors that could affect our business and financial results is included in our Annual Report on Form 10-K for the year ended June 30, 2000, and the Quarterly Report on Form 10-Q for the period ended March 31, 2000, including (without limitation) under the captions, ``Management`s Discussion and Analysis of Financial Condition and Results of Operations,`` and ``Risk Factors,`` which are on file with the Securities and Exchange Commission ( http://www.sec.gov ).

SOURCE: Extreme Networks, Inc.

[panik]

Korea`s Largest ISP Network Powered by Extreme Networks` Ethernet Switching Solutions
SANTA CLARA, Calif., July 17 /PRNewswire/ -- Demonstrating the continued acceptance of its Ethernet switching technology, Extreme Networks, Inc. (Nasdaq: EXTR - news) today announced that it has been selected by Korea Telecom to provide the infrastructure for its KORNET ADSL network, providing fast and reliable broadband Internet access.

As a premier ISP in Korea, KORNET provides network services including DSL, leased line services and traditional PSTN services to business customers throughout the region. To prepare for emerging applications and sustain its growth, KORNET has upgraded its network infrastructure with Extreme Networks` BlackDiamond® core Ethernet switch-routing solution.

``Korea Telecom has grown by anticipating customer demand and maintaining a quality infrastructure,`` said Kenny Kwon, network manager for San Yong Information and Communications Corp. ``We have fortified Kornet`s network by selecting advanced switching solutions from Extreme Networks, providing the density and performance to meet the rising requirements of Korea.``

Korea`s Internet infrastructure consists of a centralized architecture requiring traffic to run over a number of centralized routers. Extreme Networks` BlackDiamond switch within the core backbone, allows inter-operation between local routers and various service routers with Ethernet, tying separated backbones into a single logical backbone to give high reliability while minimizing the changes of existing routing paths.

``Our partnership with Korea Telecom demonstrates the growing acceptance of our strategy that Ethernet will be everywhere, providing the efficient and dynamic exchange of information that businesses and homes will require,`` said Sam Halabi, vice president of IP Carrier Marketing and Business Development for Extreme Networks. ``As a market leader in broadband networking solutions, we enabling telcos such as Korea Telecom to better compete and fulfill customer demand.``

Extreme Networks, Inc. delivers a simplified approach for building networks based on its corporate vision of Ethernet Everywhere® networks. The Company`s family of BlackDiamond, Alpine(TM), and Summit® switching solutions incorporate a unique combination of ExtremeWare® management software and an ASIC-based common architecture to provide Global 2000 enterprises, telecommunications companies, Internet Service Providers and content providers with the ability to increase the flow of information and accommodate future network growth.

Headquartered in Santa Clara, Calif., Extreme Networks was listed as the ``Fastest Growing Company in Silicon Valley`` based on three-year revenue growth by the San Jose and Silicon Valley Business Journal in 2000. The Company`s Ethernet technology was listed as one of the ``Top 10 Tech Trends To Bet On`` within Fortune Magazine, March 26, 2001. For more information, visit www.extremenetworks.com

NOTE: Extreme Networks, ExtremeWare, Ethernet Everywhere, BlackDiamond and Summit are registered trademarks of Extreme Networks, Inc., and Alpine is a trademark of Extreme Networks, Inc., in the United States and other countries.

This announcement contains forward-looking statements that involve risks and uncertainties. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including, but not limited to: (i) fluctuations in demand for our products and services; (ii) the ability to procure components for products from single or limited sources; (iii) a dependence on third-party manufacturers, (iv) a highly competitive business environment for network switching equipment; and (iv) economic trends in worldwide geographic markets. More information about potential factors that could affect our business and financial results is included in our Annual Report on Form 10-K for the year ended June 30, 2000, and the Quarterly Report on Form 10-Q for the period ended March 31, 2000, including (without limitation) under the captions, ``Management`s Discussion and Analysis of Financial Condition and Results of Operations,`` and ``Risk Factors,`` which are on file with the Securities and Exchange Commission ( http://www.sec.gov ) .

SOURCE: Extreme Networks, Inc.

[panik]

Extreme Networks proforma profit slips, posts net loss
SANTA CLARA, July 18 (Reuters) - Internet infrastructure company Extreme Networks Inc. (NasdaqNM:EXTR - news) on Wednesday posted a fiscal fourth quarter net loss after charges and a sharp decline in operating earnings.

The company posted a net loss of $11.4 million, or 10 cents a share, on revenues of $115 million for the quarter ended June 30, versus a year-ago profit of $589,000, or 1 cent a share, on sales of $92 million.

Excluding acquisition charges, restructuring costs and other items, the company reported pro forma net income of $1.3 million, or 1 cent per share, down from $5 million, or 4 cents a share, a year earlier.

Financial analysts had expected Extreme Networks to report a loss of 1 cent per share, on average, with forecasts ranging from a loss of 1 cent to a loss of 5 cents per share, according to First Call/Thomson Financial.

[panik]

Extreme Networks Provides Network Infrastructure for Korea`s Wireless Services
SK Telecom Broadens Mobile Communications With Establishment of Reliable, Broadband Ethernet Network
SANTA CLARA, Calif., Aug. 2 /PRNewswire/ -- Continuing its leadership position as a key provider of broadband Ethernet networking around the world, Extreme Networks, Inc. (Nasdaq: EXTR - news) today announced that SK Telecom, the wireless communications leader of Korea, has selected its networking solutions.

SK Telecom is offering CDMA2000 1x services, which can carry data rates as high as 144Kbps to wireless devices including cellular phones, in 23 cities including Seoul, Inchoen, Busan, and Daegu, and has plans to expand the service in more than 79 cities across the country. The Company has established high performance Ethernet switching within its backbone networks with Extreme Networks` core solution, the BlackDiamond® modular switch, and has implemented both the Alpine(TM) and Summit® switching systems to establish wider adoption of various wireless services. Extreme Networks` Ethernet switching solutions provide competitive advantages allowing SK Telecom to scale their network while maintaining a consistent and simplified management platform.

``Through our partnership over the past year, Extreme Networks` high performance switching systems have delivered excellent results in our BMT and we have had a flawless experience operating our network,`` said Sang-Chul Ha, network manager for SK Telecom. ``We are very satisfied with the high level of customer and partner assistance received from Extreme Networks Korea, making for an essential long-term relationship.``

SK Telecom`s broadband network connects main servers and other equipment utilized for services including IMT 2000, IS95C, IWF and multimedia, maintaining high-quality services. Extreme Networks` broadband infrastructure offers high reliability, scalability and increased functionality to meet the rapidly increasing data traffic brought on by communications applications.

``Wireless applications in broadband Ethernet MANs require a network infrastructure that can deliver high resiliency and quality of service,`` said Sam Halabi, vice president of IP carrier marketing. ``Integrating our family of switching solutions to complete SK Telecom`s carrier service networks marks another achievement for Ethernet technology in building carrier-class networks.``

About SK Telecom

Founded in 1984, SK Telecom has been a world leader in wireless communications as the first carrier to commercialize CDMA2000 1x service. SK Telecom will provide its IMT-2000 service, which, expected to facilitate cooperation among major telecommunication companies in Korea, China and Japan, providing SK Telecom the opportunity to become a key player in next-generation mobile communications market.

About Extreme Networks

Extreme Networks, Inc. delivers a simplified approach for building networks based on its technology vision of Ethernet Everywhere® networking. The Company`s family of BlackDiamond, Alpine, and Summit switching solutions incorporate a unique combination of ExtremeWare® management software and an ASIC-based common architecture to provide Global 2000 enterprises, telecommunications companies, Internet Service Providers and content providers with the ability to increase the flow of information and accommodate future network growth.

Headquartered in Santa Clara, Calif., Extreme Networks was listed as the Fastest Growing Company in Silicon Valley in 2000 based on three-year revenue growth by the San Jose and Silicon Valley Business Journal. For more information, visit www.extremenetworks.com

NOTE: Extreme Networks, ExtremeWare, Ethernet Everywhere, BlackDiamond and Summit are registered trademarks of Extreme Networks, Inc., and Alpine is a trademark of Extreme Networks, Inc., in the United States and other countries.

SOURCE: Extreme Networks, Inc.

[panik]

Extreme Networks Advances e-Business With Compatibility Proven Network Solutions on IBM`S eServer z900 Servers
IBM z900, zOS and Open System Adapter Express Matched With Extreme Networks` BlackDiamond Gigabit Ethernet Switch for Superior Network Performance
SANTA CLARA, Calif., Aug. 8 /PRNewswire/ -- To help customers achieve enhanced performance within the e-business infrastructure, Extreme Networks, Inc. (Nasdaq: EXTR - news) and IBM (NYSE: IBM - news) have jointly completed interoperability testing of Extreme Network`s BlackDiamond® Gigabit Ethernet switch with IBM`s Open System Adapter (OSA) Express Gigabit Ethernet and Fast Ethernet network adapter. The successful testing represents a powerful e-business solution, with the performance and compatibility necessary for high transaction environments, including large corporate enterprises, Internet Data Centers (IDCs), Web content providers and service providers.

IBM conducted the testing to demonstrate the interoperability, installation ease, and flexibility of its OSA-Express family of network adapters. Extreme Networks` BlackDiamond® Gigabit Ethernet switch was matched with the IBM eServer z900 with Open System Adapter (OSA) Express Gigabit Ethernet and Fast Ethernet network adapters. Elements of the joint testing included Gigabit Ethernet jumbo frame support, bandwidth management with Quality of Service (QoS) at Gigabit speeds, OSPF interoperability for seamless fail-over/recovery and high availability verification, with Fast Ethernet speed/mode verifications.

Extreme Networks` BlackDiamond 6808 core switching solution is among the first Gigabit Ethernet switches to participate and complete this comprehensive test. As a result of the testing, IBM has added Extreme Networks switching solutions as part of the core networking equipment available to customers during e-business prototyping engagements conducted at the IBM Design Center for e-transaction processing, located in Poughkeepsie, New York.

``Customers need network solutions that will help them establish high-performing, scalable and reliable e-infrastructures,`` said Rich Lechner, vice president, marketing, IBM eServer zSeries. ``This joint testing brings Extreme Network`s powerful BlackDiamond solution to the z900 platform, giving our customers more options in handling explosive transaction growth and the `always on` demands of serious e-business.``

These initial interoperability tests validate Extreme Networks and IBM`s ongoing commitment to open standards. ``This is an ideal match allowing our common customers to combine these solutions to build their high-availability e-business infrastructures,`` said Paul de Zan, vice president of corporate marketing for Extreme Networks. ``With the confidence of a proven solution, these customers can implement best-of-breed solutions that scale to meet the most demanding applications and growing numbers of users.``

The IBM z900 with OSA-Express features, providing simpler network connections at lower costs, offers line-speed performance when connecting z900 to Gigabit Ethernet and Fast Ethernet switches. Extreme Networks` BlackDiamond core switch, designed for the heart of the Internet data center, provides Gigabit Ethernet switching solutions, featuring Layer 3 capabilities, wire-speed switching and bandwidth management with allocation and prioritization, which ideally complement the self-managing, high capacity, and high availability IBM zSeries.

For more information about the IBM z900 OSA-Express and Extreme Networks BlackDiamond testing, please visit: http://ibm.com/servers/eserver/zseries/networking/extreme.ht… .

Extreme Networks

Extreme Networks, Inc. delivers a simplified approach for building networks based on its technology vision of Ethernet Everywhere® networks. The Company`s family of BlackDiamond, Alpine(TM), and Summit® switching solutions incorporate a unique combination of ExtremeWare® management software and an ASIC-based common architecture to provide Global 2000 enterprises, telecommunications companies, Internet Service Providers and content providers with the ability to increase the flow of information and accommodate future network growth.

Headquartered in Santa Clara, Calif., Extreme Networks was listed as the Fastest Growing Company in Silicon Valley in 2000 based on three-year revenue growth by the San Jose and Silicon Valley Business Journal. For more information, visit www.extremenetworks.com.

NOTE: Extreme Networks, ExtremeWare, BlackDiamond, Summit and Ethernet Everywhere are registered trademarks of Extreme Networks, Inc., and Alpine is a trademark of Extreme Networks, Inc., in the United States and other countries.

The IBM eServer brand consists of the established IBM e-business logo with the following descriptive term ``server`` following it.

The following are either trademarks or registered trademarks of International Business Machines Corporation in the United States or other countries or both: IBM, the IBM e-business logo, z900, and zOS. All others are trademarks or registered trademarks of their respective companies.

This announcement contains forward-looking statements that involve risks and uncertainties, including statements about future events or trends with respect to the performance and availability of products. The actual performance and availability of products could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including, but not limited to: (i) the possibility that we might experience delays in the development of new technology and products; (ii) the ability to procure components for products from single or limited sources; and (iii) our dependence on third-party manufacturers who may experience production problems or delays. More information about potential factors that could affect our business and financial results is included in our Annual Report on Form 10-K for the year ended June 30, 2000, and the Quarterly Report on Form 10-Q for the period ended March 31, 2001, including, without limitation, under the captions: ``Management`s Discussion and Analysis of Financial Condition and Results of Operations,`` and ``Risk Factors,`` which are on file with the Securities and Exchange Commission ( http://www.sec.gov ).

SOURCE: Extreme Networks, Inc.

[panik]

City of Ocala Upgrades Metro Network With Broadband Ethernet From Extreme Networks
Migration to an Advanced Ethernet Network Provides Increased Bandwidth, Simplicity and Improved Performance for Web-Based Applications
SANTA CLARA, Calif., Aug. 29 /PRNewswire/ -- Extreme Networks Inc.`s (Nasdaq: EXTR - news) simplified and powerful Ethernet switching solutions are enabling metropolitan areas around the world to increase their communications capabilities. The latest city to select Extreme Networks` Ethernet networking solutions is Ocala, FL. Other cities and countries that are reaping the benefits of Extreme Networks` award-winning Ethernet solutions include Ann Arbor, MI; Hillsboro, OR; and Houston, TX along with national networks in Sweden, Italy and New Zealand.

The City of Ocala has upgraded its network with Extreme Networks` advanced Ethernet switching solutions, providing enhanced bandwidth and support for Web-based applications across its citywide communications network. The network reaches 18 different departments throughout the City. The new network features aggregated Gigabit links to servers, which host complex Enterprise Resource Planning (ERP) software applications to extend the accessibility of vital information.

Ocala has deployed Extreme Networks` Alpine(TM) modular switching platform, ideal for aggregating data center traffic at the core of their two central campuses. The switches interface directly with fiber for point-to-point MAN connections. Extreme Networks` Summit® fixed configuration switches operate at the edge of the network for each facility. As a result, Ocala`s employees receive high-speed connections of up to 100Mb duplex to PCs, a significant upgrade from the 16Mb connections provided by the token-ring network previously in place. Geographical Information Systems (GIS) engineers are realizing the benefit of the new network to collaborate in real time, share large CAD graphic files quickly and easily across different offices.

``Ocala`s network is catching up with emerging Web-based ERP applications that require a significant increase in network performance,`` said Bill Hinton, Network Systems Engineer for the City of Ocala. ``We are extending these capabilities all the way to our user`s desktops to make a measurable difference in productivity.``

Gigabit Ethernet particularly benefits the network by better leveraging the fiber already present between buildings compared to slower connections based on Token Ring. With Layer 3 VLAN support, Ocala can transparently link to remote locations and isolate traffic for specific applications. VLAN security policy allows personnel to individually access applications while protecting sensitive information.

Extreme Networks, Inc. delivers a simplified approach for building networks based on its technology vision of Ethernet Everywhere® networking. The Company`s family of BlackDiamond®, Alpine(TM), and Summit® switching solutions incorporate a unique combination of ExtremeWare® management software and an ASIC-based common architecture to provide Global 2000 enterprises, telecommunications companies, Internet Service Providers and content providers with the ability to increase the flow of information and accommodate future network growth.

Headquartered in Santa Clara, Calif., Extreme Networks was listed as the Fastest Growing Company in Silicon Valley in 2000 based on three-year revenue growth by the San Jose and Silicon Valley Business Journal. For more information, visit www.extremenetworks.com.

NOTE: Extreme Networks, ExtremeWare, Ethernet Everywhere, BlackDiamond and Summit are registered trademarks of Extreme Networks, Inc., and Alpine is a trademark of Extreme Networks, Inc., in the United States and other countries.

SOURCE: Extreme Networks, Inc.

[panik]

Extreme Networks and Westfield Washington Schools Teach K-12 Students the ABCs Of Internet Networking
SANTA CLARA, Calif., Sept. 24 /PRNewswire/ -- Executing on its pledge to provide educational institutions with the tools to build advanced learning environments, Extreme Networks, Inc. (Nasdaq: EXTR - news) today announced a project with Westfield Washington Schools, Indianapolis, Indiana, expanding the network infrastructure to provide distance learning and streaming video applications. The school district and the networking leader are also developing a K-12 classroom program that allows students to incorporate Internet applications into their daily curriculum and understand how network technology enables the applications to perform.

A pioneer in building sophisticated education environments and a leader in K-12 curriculum, Westfield Washington Schools is planning to incorporate Extreme Networks` award-winning switching technology and teaching material into its ``Technology Academy`` program. The Westfield Technology Academy is a five-trimester series that teaches students the fundamentals of computer hardware configurations and Internet networking, offering them the chance to become certified in various technology disciplines. Students may also take individual Technology Academy classes as electives.

``To compete in the global workplace, today`s students must be knowledgeable about how to use advanced communications applications, as well as understand the technology making those applications work,`` said Dr. Mark Keen, Westfield Washington Schools Superintendent. ``We are working with Extreme Networks to build a hands-on environment where students can take part in creating various networking configurations -- and give our students a head-start as they complete their traditional coursework.``

In addition to working with Extreme Networks to expand its Technology Academy, Westfield Washington Schools is using Extreme Networks` Black Diamond® Ethernet switch as the core-networking switch to provide distance learning and streaming video applications throughout the campus. Given the success of the initial network upgrade, school administrators are working with the networking leader to deliver voice, data and video applications to students, faculty and administrators within the entire school district.

The Internet has introduced new mediums for students to communicate, learn and interact with the world, and learning centers must ``wire`` their campuses to provide applications such as distance learning, streaming media and video conferencing. Extreme Networks understands that education dollars must be strategically allocated among extracurricular activities, teachers` salaries, building repairs, maintenance and communication infrastructure. In working with Westfield Washington Schools, Extreme Networks is providing the opportunity to invest in low-cost, high-performance technology without the complexity of traditional networking solutions.

Extreme Networks, Inc.

Extreme Networks provides an effective applications infrastructure by creating networks that are faster, less complex and more cost-effective than conventional solutions. The Company`s BlackDiamond®, Alpine(TM), and Summit® switching platforms combine extraordinary performance with operational simplicity, enabling enterprises and service providers to build a superior networking platform for business-critical applications.

Headquartered in Santa Clara, CA, Extreme Networks was named the Fastest Growing Company in Silicon Valley in 2000 based on three-year revenue growth by the San Jose and Silicon Valley Business Journal. For more information, visit www.extremenetworks.com.

NOTE: Extreme Networks, ExtremeWare, BlackDiamond and Summit are registered trademarks of Extreme Networks, Inc., and Alpine is a trademark of Extreme Networks, Inc. in the United States and other countries.

SOURCE: Extreme Networks, Inc.

[icemen]

Customers Worldwide Praise Application Switching From Extreme Networks
The Wait is Over for Highly Effective Policy Networking
SANTA CLARA, Calif., Oct. 2 /PRNewswire/ -- Customers around the world are praising Extreme Networks, Inc.`s (Nasdaq: EXTR - news) innovative move to put application awareness capabilities into hardware for the first time with its new SummitPx1(TM) switch. The first in Extreme Networks` line of Application Switching networking devices, the recently introduced SummitPx1 http://www.extremenetworks.com/corporate/pressroom/news/pr09… delivers a 10X performance gain in Layer 7 functions with scalable, deep packet inspection to enhance application and Web site performance.

Application Switching technology recognizes the application or service that every packet on a network belongs to, then uses that information to switch the packets over the appropriate route, all at Gigabit speed. The key to this technology is that it performs all networking functions entirely in hardware, not in software like existing approaches.

Customers around the world including the Experience Music Project, Korean service provider Enpia, Microsoft`s TerraServer project and Homestead Technologies are putting the technology to work in a host of ways to increase performance, reduce complexity and improve the overall user experience.

Seattle`s Experience Music Project (EMP) is an innovative museum streaming CD-quality audio, rich multimedia graphics and associated content over the Internet to global audiences. The Application Switch will simplify EMP`s network with its ability to isolate traffic streams and direct them where they are needed, opposed to physically moving network elements from location to location to get the same results.

``We have grand plans for Extreme Networks` high performance Application Switch,`` said Denny Matney, director of technology for EMP. ``We have an abundance of bandwidth throughout our network with our fiber connections. The addition of application intelligence from the SummitPx1 on top of these switched connections extends the flexibility and customization that we can achieve while enhancing security and redundancy, all at line speeds.``

The advantage of the Application Switch is that it enables a single device sitting in the network to perform all intelligent application routing, with the ability to sense different packet flows and direct or rewrite them to their destinations. ``The technology opens up a whole new area of applications that we can manage including video, http content and VoIP which, until now, were not available to control with legacy load balancers, devices which required that we re-engineer the entire network to get the desired effect,`` continued Matney.

Extreme Networks is helping Korean service provider Enpia create a next generation Content Delivery Network (CDN). Enpia delivers wired and wireless network infrastructures with technology allowing enterprises to deliver faster Internet services to customers.

Enpia`s network features hundreds of logical servers requiring a high performance application switch, the SummitPx1. The switch`s inspection engine performs both full Network Address Translation (NAT) and half NAT to enhance security. Intelligent switching is performed through Enpia`s three separate Internet access points, reaching out to three ISPs require that traffic coming in from one connection has to make the return path through the same Point Of Presence (POP).

``Extreme Networks and Enpia engineers have been working together to provide a high performance, application aware network that is well suited to handle rich media over the Internet,`` said Sam Baek, Marketing Team Manager for Enpia. ``As we increase the reach and effectiveness of the network with CDN technology, Extreme Networks` SummitPx1 switch serves as a strategic element for this objective.``

Homestead Technologies integrates and distributes Internet content, services and technology to help individuals and small businesses create feature-rich web sites. Subscribers can communicate with friends and family, meet people around the world, as well as operate small businesses on-line via customized web sites.

``As we have rolled out Web-based subscription and e-commerce services to our customers, our network needs have changed and we have had to add solutions that are easier to use and more robust than our legacy, CPU-based load balancing appliances,`` said Nick Heyman, director of network operations for Homestead Technologies. ``We expect that advanced application switching technology from Extreme will provide a much faster Layer 4-7 architecture and also serve to reduce complexity within our network. The SummitPx1 switch allows our network to be smart enough to implement an array of new services while supporting true Gigabit throughput.``

Microsoft`s TerraServer project provides overhead satellite images from around the globe directly to Web visitors who point and click on the maps to view them at their desktop. Storing terabytes of information managed with Microsoft`s leading SQL database software, the site`s responsiveness is further enhanced with the SummitPx1 switch.

``I`ve been anxiously waiting for a switching system that can perform application aware networking at Gigabit speeds, and Extreme Networks has stepped up and delivered,`` said Mark Jackson, network engineer for Microsoft`s SQL Team for its TerraServer Project. ``I`ve been very impressed with the SummitPx1`s performance, so much so that we plan to use it as enabling technology for a new project indexing many terabytes of satellite imagery.``

SummitPx1

Enterprise and Internet data centers need to implement money saving Layer 7 intelligence for cookie persistence and user-awareness. Preserving performance requires high Layer 7 new user connection rates. According to test data from Mier Communications, a leading independent testing center, the SummitPx1 delivers more than 120,000 Layer 7 new user connections per second representing more than 10 times the performance of the closest competitor participating in the testing. Many data centers have not implemented cookie persistence or user tracking because it penalizes the performance of their web-based applications. With the layer 7 performance of the SummitPx1, data center networks can be both intelligent and fast.

Data from the same Mier Communications test shows that the SummitPx1 supports 235,000 new user connections per second for Layer 4 applications, which is two to ten times the performance of current load balancing switches participating in the testing. Results of the Meir testing can be found online at: http://www.extremenetworks.com/go/Mier_Test_Report.htm .

The SummitPx1 begins shipping this week with a suggested U.S. list price of $49,995.

Extreme Networks, Inc.

Extreme Networks provides an effective applications infrastructure by creating networks that are faster, less complex and more cost-effective than conventional solutions. The Company`s BlackDiamond®, Alpine(TM), and Summit® switching platforms combine extraordinary performance with operational simplicity, enabling enterprises and service providers to build a superior networking platform for business-critical applications.

Headquartered in Santa Clara, CA, Extreme Networks was named the Fastest Growing Company in Silicon Valley in 2000 based on three-year revenue growth by the San Jose and Silicon Valley Business Journal. For more information, visit www.extremenetworks.com.

NOTE: Extreme Networks, ExtremeWare, Black Diamond, Ethernet Everywhere and Summit are registered trademarks of Extreme Networks, Inc. Alpine and SummitPx1 are trademarks of Extreme Networks, Inc. in the United States and other countries.

This announcement contains forward-looking statements that involve risks and uncertainties, Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including, but not limited to: (i) possible delays in the development of new technology and products; (ii) the ability to procure components for products from single or limited sources; (iii) a dependence on third-party manufacturers, (iv) a highly competitive business environment for network switching equipment. More information about potential factors that could affect our business and financial results is included in our Annual Report on Form 10-K for the year ended June 30, 2001, including (without limitation) under the captions, ``Management`s Discussion and Analysis of Financial Condition and Results of Operations,`` and ``Risk Factors,`` which are on file with the Securities and Exchange Commission (http://www.sec.gov).

SOURCE: Extreme Networks, Inc.

[panik]

Extreme Networks Reports First Quarter Results
Company Met Analysts Revenue Expectations, Achieved Breakeven Performance And Positive Cash Flow
SANTA CLARA, Calif., Oct. 17 /PRNewswire/ -- Extreme Networks, Inc., (Nasdaq: EXTR - news), a leader in Ethernet networking, today reported its first quarter results for the period ending September 30, 2001.

Net revenue for the first quarter of fiscal 2002 was $108.3 million, compared to $119.3 million for the same period last year. On a pro-forma basis Extreme Networks broke even for the first quarter of fiscal 2002, compared with pro-forma net income of $9.0 million, or $0.08 per share for the first quarter of fiscal 2001.

Actual net loss for the first quarter, which includes a charge of $40.1 million, amortization of goodwill and intangible assets, and deferred compensation of $14.7 million, was $36.0 million or $0.32 per share, compared with net income of $4.5 million or $0.04 per share for the same period last year.

``Although we were faced with the national tragedies of Sept. 11 at the most critical time during our quarter, we effectively managed all key aspects of our business,`` said Gordon Stitt, CEO and president of Extreme Networks. ``We continue to gain new customers and increase our presence in existing installations, demonstrating that even during these difficult economic times our Ethernet switching systems remain very attractive to companies around the world. Our customer roster shows the strong inroads we made during the quarter in the regions that are actively building communications infrastructures, such as Japan and China.

``We have a strong product introduction schedule that strengthens our unique position to offer networking solutions that are simpler to manage, offer higher performance, provide a better return on investment and makes us well poised for growth when the sector returns to a more stable state. And, while our strategy makes us feel optimistic about the future, we are closely monitoring economic conditions and our operations to ensure that we continue to provide value to our shareholders.``

Conference Call

Extreme Networks will host a conference call to discuss these results at 2 p.m. PT; for more information visit www.extremenetworks.com.

About Extreme Networks

Extreme Networks, Inc., delivers the most effective applications infrastructure by creating networks that are faster, simpler and more cost-effective. Headquartered in Santa Clara, Calif., Extreme Networks markets its network switching solutions in more than 50 countries. For more information, visit www.extremenetworks.com.

This announcement contains forward-looking statements that involve risks and uncertainties, including statements about future events or trends, and steps that we plan to take with respect to the financial results or financial condition of our company. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including, but not limited to: (i) our rapid growth and potential risks associated with this growth, and a limited operating history and limited history of profitability that make it more difficult to predict results; (ii) current economic trends in worldwide geographic markets; (iii) fluctuations in demand for our products and services; (iv) a highly competitive business environment for network switching equipment; and (v) the possibility that we might experience delays in the development of new technology and products. More information about potential factors that could affect our business and financial results is included in our Annual Report on Form 10-K for the year ended June 30, 2001, including, without limitation, under the captions: ``Management`s Discussion and Analysis of Financial Condition and Results of Operations,`` and ``Risk Factors,`` which are on file with the Securities and Exchange Commission ( http://www.sec.gov ).


Extreme Networks, Inc.
Condensed Consolidated Statements of Operations
(In thousands, except per-share amounts)
(Unaudited)


Three Months Ended
September 30, September 30,
2001 2000
Net revenue $108,289 $119,342

Cost and expenses:
Cost of revenue 83,312 58,090
Research and development 16,411 11,743
Sales and marketing 36,985 35,115
General and administrative 8,113 4,279
Goodwill and deferred stock
compensation 14,726 6,850
Total costs and expenses 159,547 116,077

Operating income (loss) (51,258) 3,265

Other income (expense), net (3,578) 3,709

Income (loss) before income taxes (54,836) 6,974

Provision (benefit) for income taxes (18,828) 2,441

Net income (loss) ($36,008) $4,533
Net income (loss) per share - basic ($0.32) $0.04
Net income (loss) per share - diluted ($0.32) $0.04

Shares used in per share calculation
- basic 111,953 105,990
Shares used in per share calculation
- diluted 111,953 118,892

EXTREME NETWORKS, INC.

PRO FORMA CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(i)
(In thousands, except per-share amounts)
(Unaudited)

Three Months Ended
September 30, September 30,
2001 2000

Net revenue $108,289 $119,342
Cost and expenses:
Cost of revenue 51,862 58,090
Research and development 16,411 11,743
Sales and marketing 36,985 35,115
General and administrative 5,413 4,279
Total costs and expenses 110,671 109,227

Operating income (loss) -2,382 10,115

Other income, net 2,422 3,709

Income before income taxes 40 13,824

Provision for income taxes 14 4,838

Net income $26 $8,986

Net income per share - basic $0.00 $0.09
Net income per share - diluted $0.00 $0.08

Shares used in per share calculation
- basic 111,953 105,990
Shares used in per share calculation
- diluted 118,416 118,892

(i) The pro forma statements exclude the impact of charges relating to
contract manufacturers of $12.5 million in Q1 of 2002, other costs
associated with the carrying value of inventory of $19.0 million in Q1 of
2002, the amortization of goodwill, intangibles and deferred stock
compensation in all periods, a provision for bad debts of $2.7 million in
Q1 of 2002 and minority investment write-downs in Q1 of 2002 of
$6.0 million.

EXTREME NETWORKS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)

September 30, June 30,
2001 2001
Assets
Current assets:
Cash, cash equivalents and
investments $160,265 $157,096
Accounts receivable, net 52,077 63,211
Inventories, net 51,584 60,529
Deferred tax assets 25,883 35,855
Other current assets 414 2,235
Total current assets 290,223 318,926
Property and equipment, net 57,966 57,251
Restricted investments 80,000 80,000
Investments 45,145 34,406
Goodwill and intangibles 102,034 113,886
Deferred tax assets 69,857 40,028
Other long-term assets 6,243 12,025
Total assets $651,468 $656,522

Liabilities and Stockholders` Equity

Current liabilities:
Accounts payable $50,230 $35,890
Deferred revenue 30,860 25,537
Accrued liabilities 49,556 46,067
Total current liabilities 130,646 107,494
Long term deposit 266 266
Total stockholders` equity 520,556 548,762
Total liabilities and stockholders`
equity $651,468 $656,522

SOURCE: Extreme Networks, Inc.

[trippmacher]

sollte man einen einstieg wagen!? kann mir jemand gute gründe nennen ? wenn ja, dann bitte in deutsch

[wutank]

NO! NO German!

Only English!

Extreme is a longterm buy!

[panik]

Extreme Networks Appoints KLA-Tencor Chairman Ken Levy to Board of Directors
SANTA CLARA, Calif., Nov. 5 /PRNewswire/ -- Extreme Networks, Inc. (Nasdaq: EXTR - news), a leader in Ethernet networking, today announced that Kenneth Levy, Chairman of KLA-Tencor Corp., has joined the Company`s Board of Directors. As the Founder of KLA-Tencor more than 25 years ago, Levy has lead KLA-Tencor to become a multi-billion dollar company that is the world leader in yield management and process control solutions for semiconductor manufacturing and related industries.

``Ken is widely recognized for building high-performance teams that consistently deliver financial performance,`` said Gordon Stitt, president and CEO of Extreme Networks. ``As a member of our board, we can leverage his in-depth management knowledge and his direct personal experience in growing companies into multi-billion dollar status.``

A 30-year veteran of the semiconductor market, Levy founded KLA Instruments Corp. in 1976. The 1997 merger with Tencor Instruments enhanced the Company`s ability to offer customers a more comprehensive breadth of yield management, measurement and analysis products and services.

After receiving a Bachelor`s and Master`s degree in Electrical Engineering and spending six years in the aerospace simulation field, Levy joined the startup team at Computervision Corporation. He was responsible for Computervision`s entry into the semiconductor capital equipment industry through their Cobilt Division. During his term as President of Cobilt, the Company pioneered many leading developments in semiconductor capital equipment.

Levy has received numerous awards, including the ``SEMMY`` Semiconductor Equipment and Materials Institute award in the area of wafer fabrication, the SEMI Lifetime Achievement award, and the Harvard Business School Association ``Entrepreneur of the Year`` Award.

Levy is very active in industry associations. He serves as a director emeritus on the board of Semiconductor Equipment and Materials Institute (SEMI), and as a board member of SpeedFam-IPEC, and Ultratech Stepper, Inc. Levy also acts as an advisor to several venture capital partnerships.

About Extreme Networks

Extreme Networks, Inc., delivers the most effective applications infrastructure by creating networks that are faster, simpler and more cost-effective. Headquartered in Santa Clara, Calif., Extreme Networks markets its network switching solutions in more than 50 countries. For more information, visit www.extremenetworks.com.

SOURCE: Extreme Networks, Inc.

----------------------------------------------------------


Extreme Networks Drives Simplicity to the Network Edge
Alpine 3802 Builds on Proven Alpine Platform to Extend Reach Of Ethernet Everywhere(R)
SANTA CLARA, Calif., Nov. 5 /PRNewswire/ -- Continuing to demonstrate its ability to offer the most effective applications infrastructure, Extreme Networks, Inc. (Nasdaq: EXTR - news), is delivering to customers simplicity, performance and superb return on investment at the edge of the network with its new Alpine(TM) 3802 switch. The Alpine 3802 offers all of the features of the award-winning Alpine 3800 series of Ethernet service provisioning switches in a smaller size, ideal for use within branch offices and the MTU wiring closet.

The Alpine 3802 switch supports a variety of network interfaces providing a convenient and powerful switch for convergence of legacy telco network protocols with high performance Ethernet, the ubiquitous technology of LANs. With a more compact form factor, the 3802 delivers all of the performance required for business applications along with direct support for WAN access.

The Alpine 3802 makes remote configuration and management effortless by acting as a protocol-savvy router, protocol-independent bridge, application-aware switch, Web cache redirector, server load-balancer, and traffic and bandwidth manager. For enterprise customers, this results in a higher performance and a more reliable application service; for service providers, end-to-end Ethernet improves their ability to carry traffic while lowering operating costs.

``The key to network simplicity at the edge is integrating enterprise and service provider networks. The Alpine 3802 ties the two networks together with an Ethernet protocol that is built to support advanced communication applications,`` said Dan Riordan, vice president of segment marketing for Extreme Networks. ``For CIOs, IT managers and networking professionals, Ethernet provides a consistent platform from the business to the home, and every access point in between, where size and price are top of mind concerns.``

The Alpine 3802 switch will be available in Dec. 2001. US list pricing starts at $7,995.

Alpine 3802 in the Enterprise

With the introduction of the Alpine 3802, the Alpine switching series offers Enterprise users a complete solution for high-performance networking. The Alpine 3808, introduced in early 2000, is designed for headquarters use; the Alpine 3804, also available since early 2000, is suited for the wiring closet. The new Alpine 3802 is ideal for branch office WAN and Internet access, as T1/E1 or T3 modules provide local Internet access for enterprise WAN access.


Alpine 3802 for Service Providers

-- CPE access to Metro Area Network: T1/E1, T3 or Gigabit Ethernet
backhaul provides path to Metro point-of-presence; 10/100 or
Gigabit Ethernet relay to enterprise LAN
-- Broadband access for Multi Tenant offices: Ideal footprint for
building basement deployment to serve aggregate tenants; T1/E1, T3 or
Gigabit Ethernet access over copper for fiber; VDSL modules for
in-building voice wiring; 10/100 TX of FX for access over installed
CAT-5 or fiber
-- Broadband access for Fiber to the Home (FTTH): Platform tailored for
curbside cabinets to serve aggregate homes; Gigabit Ethernet/WDMi for
WAN access to point-of-presence or video head-end; 10/100 FX for access
to residential environments


About the Alpine Switch Family

Ethernet Service Provisioning chassis switches are ideally suited for delivering broadband IP services to metropolitan area networks (MANs), service provider data centers, multi-tenant buildings and enterprise wiring closets. The Alpine platform provides total Ethernet coverage with support for both standard Category 5 and fiber optic media as well as first mile technologies that extend the reach of Ethernet over VDSL and legacy WAN technologies.

Alpine switches use an interchangeable set of power supplies, switch modules and management modules. Each switch has its own hot-swappable fan tray, which installs vertically into the front of the chassis. The Alpine 3808 has nine slots, the Alpine 3804 has five slots, and the Alpine 3802 has two slots. Optionally, fully redundant power supplies fit into the front of the Alpine 3808 and into the rear of the Alpine 3804. The first slot of both chassis is used for the Switch Management Module (SMMi), which performs all management functions, manages the switch forwarding database and routing tables, and processes all route protocol updates. The remaining eight, four slots and one slot of the Alpine 3808, 3804 and 3802 are used for switch modules.

About Extreme Networks

Extreme Networks, Inc., delivers the most effective applications infrastructure by creating networks that are faster, simpler and more cost-effective. Headquartered in Santa Clara, Calif., Extreme Networks markets its network switching solutions in more than 50 countries. For more information, visit www.extremenetworks.com

NOTE: Extreme Networks and Ethernet Everywhere are registered trademarks of Extreme Networks, Inc. Alpine is a trademark of Extreme Networks, Inc. in the United States and other countries.

This announcement contains forward-looking statements that involve risks and uncertainties, including statements about future events or trends. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including, but not limited to: (i) the possibility that we might experience delays in the development of new technology and products; (ii) the inability to procure components for products where we have a single or limited sources; and (iii) our dependence on third-party manufacturers who may experience production problems or delays. More information about potential factors that could affect our business and financial results is included in our Annual Report on Form 10-K for the year ended July 1, 2001, including, without limitation, under the captions: ``Management`s Discussion and Analysis of Financial Condition and Results of Operations,`` and ``Risk Factors,`` which are on file with the Securities and Exchange Commission ( http://www.sec.gov ).

SOURCE: Extreme Networks, Inc.

[ROTEBLITZ]

Extreme Networks Reports Second Quarter Results
Company Reports Expected Revenue and Earnings; Returns to Pro Forma Operating Profit
SANTA CLARA, Calif., Jan. 16 /PRNewswire-FirstCall/ -- Extreme Networks, Inc., (Nasdaq: EXTR - news), a leader in Ethernet networking, today reported its second quarter results for the period ending Dec. 31, 2001.

Net revenue for the second quarter of fiscal 2002 was $109.1 million, compared to $108.3 million for the first quarter of fiscal 2002. On a pro forma basis Extreme Networks earned net income of $2.0 million, or $0.02 per share for the second quarter of fiscal 2002, compared with breakeven performance for the first quarter of fiscal 2002.

Actual net loss for the second quarter, which includes expenses for amortization of goodwill and intangible assets and deferred compensation, was $10.7 million or $(0.09) per share, compared to a loss of $36.0 million or ($0.32) per share for the first quarter of fiscal 2002, and with net income of $8.1 million or $0.07 per share for the same period last year. (See attached financial tables for reconciliation of GAAP and pro forma results.)

``The compelling value proposition we bring to the networking market, along with our ability to carefully manage our business, has enabled us to continuously perform well and achieve operating profitability even during difficult business conditions,`` said Gordon Stitt, president and CEO of Extreme Networks. ``More and more, we are seeing our two key markets, the large enterprise and the Ethernet Metro converge. As a result, customers in both segments are seeking technology solutions to create a unified global network architecture. With our strong presence in the large enterprise market, our unmatched experience, and industry-leading Ethernet solution set, we are uniquely positioned to capitalize on this convergence.``

Conference Call

Extreme Networks will host a conference call to discuss these results at 2 p.m. PT; for more information visit www.extremenetworks.com.

About Extreme Networks

Extreme Networks, Inc., delivers the most effective applications and services infrastructure by creating networks that are faster, simpler and more cost-effective. Headquartered in Santa Clara, Calif., Extreme Networks markets its network switching solutions in more than 50 countries. For more information, visit www.extremenetworks.com.

This announcement contains forward-looking statements that involve risks and uncertainties, including statements about market trends and our market position, and steps that we plan to take with respect to the financial results or financial condition of our company. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including, but not limited to: (i) our rapid growth and potential risks associated with this growth, and a limited operating history and limited history of profitability that make it more difficult to predict results; (ii) current economic trends in worldwide geographic markets; (iii) fluctuations in demand for our products and services; (iv) a highly competitive business environment for network switching equipment; and (v) the possibility that we might experience delays in the development of new technology and products. More information about potential factors that could affect our business and financial results is included in our Annual Report on Form 10-K for the year ended June 30, 2001, and in our quarterly report on Form 10-Q for the period ended September 30, 2001, including, without limitation, under the captions: ``Management`s Discussion and Analysis of Financial Condition and Results of Operations,`` and ``Risk Factors,`` which are on file with the Securities and Exchange Commission (http://www.sec.gov).


Table A
EXTREME NETWORKS, INC.
GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per-share amounts)
(Unaudited)


Three Months Ended Six Months Ended

December 31, December 31, December 31, December 31,

2001 2000 2001 2000

Net revenue $109,066 $144,715 $217,355 $264,057

Costs and expenses:
Cost of revenue 51,450 69,774 134,762 127,864
Research and
development 14,604 13,034 31,015 24,776
Sales and marketing 35,703 40,499 72,688 75,615
General and
administrative 5,974 4,879 14,087 9,158
Goodwill and deferred
stock compensation 15,235 6,931 29,961 13,781
Total costs
and expenses 122,966 135,117 282,513 251,194


Operating income (loss) (13,900) 9,598 (65,158) 12,863

Other income
(expense), net 1,701 2,805 (1,877) 6,514

Income (loss) before
income taxes (12,199) 12,403 (67,035) 19,377

Provision (benefit) for
income taxes (1,547) 4,341 (20,375) 6,782

Net income (loss) $(10,652) $8,062 $(46,660) $12,595


Net income (loss)
per share - basic $(0.09) $0.08 $(0.42) $0.12
Net income (loss)
per share - diluted $(0.09) $0.07 $(0.42) $0.11


Shares used in
per share
calculation
- basic 112,680 107,283 112,317 106,636
Shares used in
per share
calculation
- diluted 112,680 118,745 112,317 118,382


Table B
EXTREME NETWORKS, INC.
PRO FORMA CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (i)
(In thousands, except per-share amounts)
(Unaudited)

Three Months Ended Six Months Ended
Dec. 31, Dec. 31, Dec. 31, Dec. 31,
2001 2000 2001 2000

Net revenue $109,066 $144,715 $217,355 $264,057

Costs and expenses:
Cost of revenue 51,450 69,774 103,312 127,864
Research and development 14,604 13,034 31,015 24,776
Sales and marketing 35,703 40,499 72,688 75,615
General and administrative 5,974 4,879 11,387 9,158
Total costs and expenses 107,731 128,186 218,402 237,413

Operating income (loss) 1,335 16,529 (1,047) 26,644

Other income, net 1,701 2,805 4,123 6,514

Income before income taxes 3,036 19,334 3,076 33,158

Provision for income taxes 1,063 6,767 1,077 11,605

Net income $1,973 $12,567 $1,999 $21,553


Net income per share - basic $0.02 $0.12 $0.02 $0.20
Net income per share - diluted $0.02 $0.11 $0.02 $0.18


Shares used in per share
calculation - basic 112,680 107,283 112,317 106,636
Shares used in per share
calculation - diluted 117,424 118,745 117,951 118,382


(i) This statement of operations information for the three and six months ended December 31, 2000 and 2001 is for illustrative purposes only and is not prepared in accordance with generally accepted accounting principles. The following table reconciles our GAAP net income (loss) from Table A to our pro forma net income in Table B:
Three Months Ended Six Months Ended
Dec. 31, Dec. 31, Dec. 31, Dec. 31,
2001 2000 2001 2000

GAAP net income (loss) $(10,652) $8,062 $(46,660) $12,595
Pro forma adjustments:
Charges related to contract
manufacturers and other
costs associated with
carrying value of inventory 31,450
Goodwill and deferred
stock compensation 15,235 6,931 29,961 13,781
Bad debt expense 2,700
Write-down of minority
investments 6,000
Income tax benefit (2,610) (2,426) (21,452) (4,823)
Pro forma net income $1,973 $12,567 $1,999 $21,553


EXTREME NETWORKS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)


December 31, June 30,
2001 2001

Assets
Current assets:
Cash, cash equivalents and investments $313,094 $157,096
Accounts receivable, net 54,010 63,211
Inventories, net 48,030 60,529
Deferred tax assets 25,883 35,855
Other current assets 10,824 12,061
Total current assets 451,841 328,752

Property and equipment, net 62,342 57,251
Restricted investments 80,000 80,000
Long-term investments 71,591 34,406
Goodwill and intangibles 104,364 113,886
Deferred tax assets 72,144 40,028
Other long-term assets 12,348 12,025

Total assets $854,630 $666,348

Liabilities and stockholders` equity
Current liabilities:
Accounts payable $37,139 $35,890
Deferred revenue 35,043 25,537
Other accrued liabilities 67,558 55,893
Total current liabilities 139,740 117,320

Convertible subordinated notes and other
long-term deposit 200,266 266

Total stockholders` equity 514,624 548,762

Total liabilities and stockholders` equity $854,630 $666,348

SOURCE: Extreme Networks, Inc.

[tereesa]

BRIEFING: NETWORKS
Street Talk: Ethernet is the people’s choice
No matter what the network, ethernet offers superior speed to the alternatives.
By Steven Milunovich
April 8, 2002

There are protocols galore to choose from in communications networking, each with its own strengths, weaknesses, and costs. It`s hard to tell, just by looking at the technical data, which will prevail. So how do you figure it out? By seeing what the IT community likes. After all, the skills and attitudes of the people who implement technology are what really govern the rate of technology adoption.


Vendors need engineers and designers to build new devices. Service providers need installers to create networks. And enterprises need network administrators to operate their corporate facilities. This massive pool of IT professionals is familiar--and comfortable--with ethernet networking. As a result, ethernet is the data communications protocol for every occasion: from local area networks (LANs) to metropolitan area networks (MANs), wide area networks (WANs), storage area networks (SANs), and even wireless.

It`s not your father`s ethernet, either. Although the standard is ancient by technology standards--it`s 30 years old--recent improvements have increased the speed tenfold (gigabit ethernet, or GigE) and a hundredfold (10GigE), and increased the potential communication range from 100 meters to 50 kilometers. The "ether" in ethernet indicates it can use any physical medium to communicate--copper, fiber, and even air.

The biggest ethernet player is Cisco Systems, which is looking to expand into storage and voice communications. Cisco has been seeing competition from the likes of Enterasys Networks, Extreme Networks, and Riverstone Networks. IT professionals love good competition in the market to keep their suppliers on their toes.

Ethernet is already the dominant protocol for LANs. It`s only a matter of time before the same is true for MANs and WANs. Ethernet`s main competition, asynchronous transfer mode/synchronous optical network (ATM/SONet), is the legacy approach for sending digital information over an analog voice infrastructure. It`s more efficient, though, to keep information in a digital format at all times. With the advent of ubiquitous fiber and GigE`s 50-kilometer range, a digital infrastructure is possible and a complete ethernet network becomes a viable alternative.

The leader in the MAN/WAN space is the Silicon Valley startup Yipes Communications. Yipes has built a 21-city GigE network in the United States. The logic is compelling: estimates indicate that IP over GigE is one-fifth as expensive as ATM/ SONet. Yipes enjoyed a revenue gain of 64 percent in 2001, a tough year for telecom as a whole. Another startup, Narad Networks, is putting GigE on coaxial cable for networks that aren`t all fiber.

The storage market is less developed than the networking arena, and thus provides more opportunity. The leading protocol in storage networks is fibre channel because it`s the fastest, most reliable protocol, and has the longest range. But it, too, faces a threat from ethernet, particularly 10GigE. Because of its better performance, lower costs, and the global availability of engineering talent, 10GigE will eventually replace fibre channel.

If Cisco moves into storage as planned, it will likely compete head-to-head with Brocade Communications Systems and might acquire storage startups. If Cisco has ethernet in mind, it will likely be looking at Alacritech, Nishan Systems, and Z-force.

Alacritech, the latest venture of SCSI inventor Larry Boucher, builds a GigE accelerator. Nishan was one of the first companies to create an ethernet storage switch and has hired a number of Cisco salespeople. Z-force is out of stealth mode and hopes to deliver an ethernet storage switch that will bring the scalability and replication between storage servers needed to compete with fibre channel.

Wireless ethernet, or wi-fi, is based on the 802.11b standard and brings wireless operation to ethernet-based applications. Wi-fi has a lot going for it, including multivendor interoperability, a transmission speed of 11 Mbps, an upcoming backward-compatible update to 54 Mbps (known as 802.11g), and a 100-meter range. Wi-fi`s other strong advantage is, of course, the growing popularity of ethernet.

Sky Dayton of EarthLink fame recently unveiled Boingo Wireless, a wi-fi ISP. Adoption beyond corporate walls requires easier access to wi-fi. Boingo has taken the lead by offering connectivity software to wi-fi network providers like Wayport.

Given ethernet`s domination of the LAN, progress in the MAN and wireless, and prospects for SANs and WANs, it looks like ethernet will sweep the board as the people`s choice for data communications.

John M.A. Roy contributed to this story. Steven Milunovich is technology strategist and enterprise hardware analyst at Merrill Lynch.

[tereesa]

Wednesday April 17, 8:31 pm Eastern Time
Reuters Business
Extreme posts net loss as sales edge up

(Updates with background, CEO and analysts comments, after-hours price; adds byline; previous SANTA CLARA)

By Jim Christie

SAN FRANCISCO, April 17 (Reuters) - Extreme Networks Inc. (NasdaqNM:EXTR - news) on Wednesday reported a sharply wider net loss for its fiscal third-quarter on $162 million in charges, but saw revenues edge up from the prior quarter, suggesting that spending on network equipment is stabilizing.


Extreme declined to provide near-term financial guidance, pointing to the uncertainties surrounding purchasing decisions by its telecommunications and corporate customers.

Revenues were $111.1 million, beating Wall Street`s expectations and gaining from the prior quarter`s level for the second consecutive quarter.

``That`s notable because it is a very difficult economic environment,`` Pacific Growth analyst Erik Suppiger said. ``It suggests their activity levels are improving instead of deteriorating.``

Santa Clara, California-based Extreme posted a net loss for the quarter of $139.8 million, or $1.23 a share, compared with a net loss of $70.1 million, or 64 cents a share, a year earlier.

The net loss included charges of $162.2 million, primarily related to a reduction of goodwill of $90 million and $64.4 million in real estate-related charges.

The company, which had $218 million in cash and equivalents as of the end of the March quarter, said $25.4 million of the charges would be paid in cash, staggered over several years.

Pro forma earnings, excluding charges, were $2.6 million, or 2 cents per share, in line with Wall Street expectations and narrower than the year-earlier`s pro forma loss of $7.1 million, or 7 cents per share.

NEAR-TERM STILL UNCERTAIN

Analysts had not expected Extreme to provide a near-term outlook because of cautious information technology (IT) investment by corporations.

``We`re still in a limited visibility environment,`` said Merrill Lynch analyst Samuel Wilson. ``There is no benefit in sticking your neck out too far.``

But Wilson noted that Extreme`s revenues may pick because of the rising share of sales to business customers, who are better positioned to raise spending on network gear than cash-strapped and financially troubled telecom carriers.

Such ``enterprise`` customers accounted for 80 percent of third-quarter revenues, compared with a past average of 70 percent. Network service providers accounted for 20 percent of revenues, versus 30 percent in the past.

Analysts also were encouraged that Extreme had taken more of its revenue from the Americas region, which had been its hardest hit market. The company`s share of third-quarter revenues from customers in the Americas rose to 36 percent from 34 percent in the prior quarter.

CONFRONTING COMPETITORS

Even slight positive momentum would help Extreme compete against No. 1 network gear maker Cisco Systems Inc. (NasdaqNM:CSCO - news) and gain market share, analysts said.

``Cisco hasn`t caught up with Extreme, but they have closed the gap,`` Suppiger said.

Extreme, however, stands to benefit from troubles at competitor Enterasys Networks Inc. (NYSE:ETS - news), he said.

Enterasys, the former core business of the old Cabletron conglomerate, last week said it would cut its work force 30 percent. That followed the resignation of three top executives and a warning that fourth- and first-quarter revenues would fall short of expectations.

Extreme shares rose in after-hours trade to $9.66 after closing on Wednesday at $9.59 on the Nasdaq. The stock has fallen 63 percent over the past 52 weeks.

[tereesa]

Extreme Networks Powers the World`s Most Sophisticated Demonstration Network At NetWorld + Interop
10 Gigabit Ethernet With Industry Leading Resiliency and Traffic Management At the Core of Remarkable Production Network
LAS VEGAS, May 8 /PRNewswire-FirstCall/ -- Leading the way to the future of broadband networking, the NetWorld + Interop show network, called the eNet, is delivering leading-edge business applications to tens of thousands of show attendees over Extreme Networks`® remarkable Ethernet infrastructure. Built in only four days by a handful of technicians, the eNet is providing reliable support for massive wireless, Voice over IP and multicast streaming video applications in a real-world production environment.

At the core of the eNet, Extreme Networks` new Ethernet Automatic Protection Switching, or EAPS technology, assures network uptime by enabling 100 millisecond failover between redundant 1 and 10 Gigabit Ethernet rings, providing unsurpassed resiliency to support the most critical business applications.

"This year`s eNet is the most sophisticated ever attempted, and its completion represents a new high watermark for Ethernet-based applications infrastructure," said Steve Haddock, chief technical officer for Extreme Networks. "For nearly six years, Extreme Networks has been preaching the gospel of Ethernet Everywhere, and in this year`s eNet we`re seeing the triumph of that vision, with standards-based 10 Gigabit Ethernet and EAPS delivering a level of performance and reliability that matches and will ultimately surpass expensive and inflexible legacy technologies like SONET and ATM. The eNet is truly one of the most significant demonstrations of leading-edge technology in the history of networking."

All-Extreme Backbone Links N + I To The World

Since 1999, when it first created the eNet network backbone for NetWorld + Interop, Extreme Networks has rapidly expanded its presence in the network. For the first time Extreme Networks is providing 100 percent of the network infrastructure, including connectivity to the Internet with OC-3 modules in the BlackDiamond core switching platform running the Boundry Gateway Protocol, or BGP. Over 110,000 Internet routes are being supported by Extreme`s Accounting and Routing Module, or ARM, also installed in the core BlackDiamond® switches.

Extensive QoS Helps Manage an Amazingly Diverse Traffic Load

Extreme Networks pioneered practical, wire-speed Quality of Service (QoS) features on its very first switching platforms back in 1997. In this year`s eNet, QoS is a critical component of the network supporting everything from basic e-mail, all the way to broadcast quality streaming video. With sophisticated QoS running across both 10 Gigabit and 1 Gigabit Ethernet links, the enormous traffic load is prioritized to deliver maximum performance in line with policies set by network managers.

Rich Variety of Mission-Critical Applications Foreshadows the Future

With the largest wireless implementation ever attempted, extensive use of Voice over IP and dozens of high quality multicast video streams, the Extreme-powered eNet is providing a glimpse into the near future of networking.

"We have built one of the largest and most advanced production enterprise networks in history in less than one week," said Paul De Zan, vice president of corporate marketing for Extreme Networks. "This year`s eNet is quite literally Extreme Networks` vision of Ethernet Everywhere become a reality: a simpler, faster, more cost-effective approach to providing the best infrastructure for the critical applications that businesses depend on today."

Extreme Networks, Inc.

Extreme Networks delivers the most effective applications and services infrastructure by creating networks that are faster, simpler and more cost-effective. Headquartered in Santa Clara, Calif., Extreme Networks markets its network switching solutions in more than 50 countries. For more information, visit www.extremenetworks.com.

NOTE: Extreme Networks and BlackDiamond are registered trademarks of Extreme Networks, Inc. in the United States and other countries.

SOURCE: Extreme Networks, Inc.

[topbasher]

Tuesday May 14, 2:14 pm Eastern Time
Extreme Networks Financial Chief Sees 4th Quarter Revenue Up Versus 3rd Quarter

NEW YORK -(Dow Jones)- Extreme Networks (NasdaqNM: EXTR - News) Inc. (EXTR) Chief Financial Officer Hal Covert said Tuesday he expects the network equipment maker`s fiscal fourth- quarter revenue to increase from third-quarter levels.

Covert also said the Santa Clara, Calif. , company expects to improve its operating profit in the fourth quarter, compared with the third quarter. He was speaking at the Credit Suisse First Boston Communications Technology Conference in Phoenix .

Covert`s comments were consistent with the limited forecast that Extreme had provided in April, when the company reported third-quarter results. For the third quarter ended March 31 , Extreme reported pro forma earnings, excluding various charges and items, of 2 cents a share. Revenue was $111.1 million....

[panik]

Extreme Networks Extends BlackDiamond Core Switching Platform With Versatile And Compact Performer
New BlackDiamond 6804 Modular Switch Provides Flexibility and Value in a Lower Profile Device While Supporting High-end Capabilities and a Wide Range Of Connectivity Choices
SANTA CLARA, Calif., June 24 /PRNewswire-FirstCall/ -- Extreme Networks, Inc. (Nasdaq: EXTR - News), a leader in Ethernet networking, delivers scalability, flexibility and support for leading-edge features with its new BlackDiamond® 6804 core Ethernet switch. By creating a more compact core-switching device to accompany its leading BlackDiamond 6808 and 6816 switches, Extreme Networks delivers an ideal solution for space-constrained areas along with the desired capabilities and ease of implementation for both new and existing users of the BlackDiamond series of switches.

Large enterprises and service providers alike have increasingly limited amounts of rack space in their data centers, wiring closets and Points of Presence (PoPs), yet they still need to meet the heavy-duty requirements for full redundancy and scalability from their networks. The BlackDiamond 6804 switch uniquely addresses this with its smaller size while delivering full redundancy and key performance features. The BlackDiamond series of switches share common management modules, scale from Fast Ethernet to Gigabit Ethernet to 10 Gigabit Ethernet, and support enhanced features including MPLS functionality, advanced Quality of Service (QoS) and WAN connectivity with Packet over SONET (PoS) and ATM network interfaces.

The BlackDiamond 6804 switch supports Extreme Networks` recently introduced 10GLRi 10 Gigabit Ethernet module, optimized to deliver maximum Ethernet scalability for the core of enterprise and Metro Area Networks (MANs). Additionally, the BlackDiamond platform provides multi-layer switch and routing capabilities including IP Multicast, IPX and BGP routing, server load balancing and Web cache redirect to boost performance and delivery of applications such as voice and video.

"The BlackDiamond 6804 switch is a smart choice for us, as we can install it where we have limited space and integrate it immediately with our existing BlackDiamond 6816 switch," said Brent Braun, network manager for the Appleton Area School District in northern Wisconsin. "Today, we are implementing voice over IP across the school district and also are considering streaming video applications down the road. With our BlackDiamond 6816 switch in the core and BlackDiamond 6804 switches serving individual school sites, we have a platform that scales beyond Gigabit Ethernet and provides essential QoS functionality to prioritize traffic streams -- all while maintaining the simplicity and reliability of a common architecture."

"With the new BlackDiamond 6804 switch, Extreme Networks provides a high performance and scalable switch to complement our leading BlackDiamond switching platform," said Ray Milhem, senior director of product management for Extreme Networks. Customers are better served with a wide breadth of products that share the same high-performance ASICs, run state-of-the-art management software, and support hardware interfaces providing connectivity over Ethernet, SONET and ATM."

The BlackDiamond 6804 switch began shipping in June 2002; suggested U.S. list pricing starts at $21,985.

Extreme Networks` BlackDiamond core switching products utilize a multilayer, chassis-based switching platform for the network core and data centers where high availability, redundancy and port density are required. The BlackDiamond 6804, 6808 and 6816 switches feature high reliability with no single point of failure, fully redundant power supplies and hot-swappable components designed for non-stop network services. With Extreme Networks` Policy-Based QoS with DiffServ and 802.1p policy and control are achieved for improved application and service delivery.

Extreme Networks, Inc.

Extreme Networks delivers the most effective applications and services infrastructure by creating networks that are faster, simpler and more cost-effective than conventional systems. Headquartered in Santa Clara, Calif., Extreme Networks markets its network switching solutions in more than 50 countries. For more information, visit www.extremenetworks.com.

NOTE: Extreme Networks and BlackDiamond are registered trademarks of Extreme Networks, Inc. in the United States and other countries.

SOURCE: Extreme Networks, Inc.

[gaytrad]

Tuesday July 2, 12:00 pm Eastern Time
Reuters Company News
RESEARCH ALERT-Cisco, Extreme revenue estimates cut

CHICAGO, July 2 (Reuters) - Salomon Smith Barney on Tuesday said it cut its revenue estimates for network equipment makers Cisco Systems Inc. (NasdaqNM:CSCO - News) and Extreme Networks Inc. (NasdaqNM:EXTR - News), citing flattening business in June.
ADVERTISEMENT



Analyst Alex Henderson said in a research note that it looks like the industry has hit the "summer doldrums" early this year in June, a month that typically sees business accelerate due to seasonality.

He said the soft business conditions in the United States would likely keep revenue growth at Cisco at the low end of the low-single-digit band and impede the San Jose, California-based company`s ability to build a backlog in the July quarter.

He added that if Cisco can`t build a backlog in the seasonally July quarter, then visibility into the historically weaker October quarter is diminished.

"In order to produce revenue growth despite the seasonally weak conditions, a head of steam needs to be built in the June/July quarter," Henderson said.

He cut his estimated growth estimate for Cisco`s revenues in its July quarter, or its fiscal fourth quarter, to 1 percent from a prior forecast of 3 percent growth. He also reduced his growth estimate for the October quarter to 1 percent from a 2-percent estimate.

As a result, Henderson`s new fiscal 2003 revenue estimate for Cisco is $20.8 billion, down from his previous estimate of $21.4 billion.

He also cut his growth expectation for Extreme`s revenues for the June quarter, or its fiscal fourth quarter, to 1.5 percent from a previous forecast of 4.5 percent. For the September quarter, he cut his revenue growth estimate to 1 percent from 3 percent.

As a result, Henderson`s new fiscal 2003 revenue estimate for Extreme is $504.5 million, down from his previous estimate of $523.8 million.

In late morning trade, Cisco was off 48 cents to $12.61 per share and Extreme 39 cents to $8.62.

[panik]

Reuters Company News
RESEARCH ALERT-Extreme Networks upgraded to "strong buy"

NEW YORK, July 10 (Reuters) - Merrill Lynch on Wednesday said analyst Samuel Wilson raised the rating on network gear maker Extreme Networks Inc. (NasdaqNM:EXTR - News) to "strong buy" from "buy," citing signs of a recovery in spending by large corporate customers, who comprise about 80 percent of the company`s buyers.

"We are starting to see signs of a recovery in that market and expect a positive (second half of 2002)," he wrote. "We believe business is on track for the June quarter. Business conditions continue to be tough, but Extreme should make the cut."

Wilson also said Extreme is well positioned to become a major player in data networking.

Shares of Extreme closed at $9.33 on Tuesday on Nasdaq. The stock`s 52-week trading range is $32.07 to $5.85.

[panik]

Tuesday July 16, 1:57 pm Eastern Time
Reuters Company News
Extreme shares up ahead of fourth-quarter results

SAN FRANCISCO, July 16 (Reuters) - Shares of Extreme Networks Inc. (NasdaqNM:EXTR - News) jumped nearly 9 percent on Tuesday, as investors bet the network gear maker would report solid fiscal fourth-quarter results on Wednesday, analysts said.
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The shares also rose as investors covered short positions and on renewed buying of technology stocks, analysts said.

"People have decided to move out of the Dow and into the Nasdaq and to buy tech," said analyst Steve Kamman of CIBC World Markets.

Analysts, on average, expect Extreme, which has struggled with its peers amid falling demand from the battered telecommunications industry and cost-cutting corporate clients, to earn 3 cents per share, excluding charges, in the fiscal fourth quarter, on revenue of $112.5 million, according to Thomson First Call.

This compares with the Santa Clara, California-based company`s earnings of 2 cents per share on revenues of $111.1 million in the prior quarter.

"There`s a sense we`re starting to bottom out on revenues," Kamman said of network equipment makers` sales. "There`s a sense were starting to find some solid ground."

Kamman noted, however, it is too early to expect network gear sales to recover in any significant way.

Corporations continue to scrutinize costs, including information technology budgets, and telecom operators face an industry downturn and intense competition -- and they have a cloud of suspicion over their finances thanks to telecom giant WorldCom Inc. (NasdaqNM:WCOME - News)

"It`s a little early to break out the party hats," Kamman said.

"Visibility remains limited for the back half of 2002," said Frost Securities analyst Mark Sue of network gear makers` near-term prospects. "It`s still a cautious spending environment."

Shares of Extreme rose 88 cents, or 7.9 percent, to $12 on Nasdaq at mid-afternoon. The American Stock Exchange Network Index (AMEX:^NWX - News), an industry benchmark, gained 2.24 percent and the tech-heavy Nasdaq Composite Index (NasdaqSC:^IXIC - News) rose 1.2 percent.

[panik]

Lattice Semiconductor Provides FPSC Device to Extreme Networks to Enable 10-Gigabit Ethernet On the BlackDiamond Core Switch
Monday September 9, 8:05 am ET


HILLSBORO, Ore.--(BUSINESS WIRE)--Sept. 9, 2002--Lattice Semiconductor Corporation (Nasdaq:LSCC - News) and Extreme Networks, Inc. (Nasdaq:EXTR - News) today announced that Extreme Networks has utilized Lattice`s ORLI10G FPSC within their flagship core-switching platform.
ADVERTISEMENT


Extreme Networks has deployed the 10GLRi modules in its BlackDiamond® 6800 core switching family, designed to provide advanced resiliency and carrier-class fault tolerance for IP data networks, with scalability from 10/100 Megabit-per-second (Mbit/s) to 10 Gigabit-per-second (Gbit/s) data rates. At the heart of Extreme Networks` 10GLRi module is Lattice`s 10 Gigabit-per-second line interface field programmable system chip (FPSC), the ORLI10G.

Extreme Networks will be demonstrating maximum Ethernet scalability with its 10-Gigabit Ethernet modules using Lattice`s ORLI10G FPSCs at the fall 2002 Networld+Interop exhibition, being held in Atlanta, Sept. 10-12. Lattice`s ORLI10G device is a 10 Gigabit Ethernet line interface chip that provides data networking equipment designers with customizable, protocol-independent interfaces to high-speed optical transport facilities used in LAN, WAN, and MAN deployments. It implements a 10 Gigabit/s Sixteen-Bit Interface (XSBI) for optical transponders by combining optimized, embedded core logic together with up to 643K gates of programmable logic. The programmable gates are implemented in Lattice`s ORCA® Series 4 field programmable gate array architecture, which is designed specifically to accommodate networking Intellectual Property (IP) cores.

"Extreme Networks is at the forefront of the movement to deploy 10-Gigabit Ethernet networking and Lattice`s programmable system chip approach provides a leading solution as we deliver our standards-based products," said Herb Schneider, vice president of engineering for Extreme Networks. "Customers are demanding more from their applications and Extreme Networks` 10-Gigabit Ethernet solution, with extensive bandwidth management and resiliency features, represents a cost-effective way to scale the network on an established switching platform."

"Lattice`s programmable networking system-chip technology is the perfect solution for the emerging next-generation systems, such as Extreme Networks` BlackDiamond 6800 core switches," said Stan Kopec, vice president of marketing at Lattice Semiconductor.

"By coupling high-speed embedded core macros with high-performance field programmable gates on silicon, together with system-level Intellectual Property cores for instantiation into the programmable logic, we give system designers like Extreme Networks the ability to bring innovative products to market quickly," added Kopec. Lattice`s PCS IP core implements all the functions of the physical coding sublayer for 10GbE applications, including a 64/66B encoder/decoder, scrambler/descrambler, and XGMII interface for coupling the ORLI10G to a 10GbE MAC.

Extreme Networks` BlackDiamond 6800 switching series provides robust Ethernet performance with the capabilities to act as an aggregation point for a large number of edge connections while delivering line-rate Quality of Service (QoS) capabilities across every port. As the ideal switching platform for both enterprise and Metro networks, it supports carrier class reliability, physical redundancy and essential security features. Additionally, the BlackDiamond 6800 switching series supports connections to WAN interfaces including Packet-over-SONET and ATM, allowing network managers to leverage existing network infrastructures with Ethernet. The BlackDiamond switching series is available in three different chassis sizes, the BlackDiamond 6804, 6808 and 6816 switches, to deliver high performance Ethernet switching from the constrained areas of the wiring closet to the core of the data center.

Additional ORLI10G Technical Information

The ORLI10G encompasses forward clocked, 16-bit transmit and receive 10 Gbit/s interfaces (as per OIF 99.102.5). This 16-bit interface runs at the following rates:

622 Mbits/s: OC-192/STM-64 SONET/SDN interface (SFI-4)
645 Mbits/s: 10 Gigabit/s Sixteen-bit Interface (XSBI)
667 Mbits/s: Strong FEC interface (digital wrapper and OC-192/STM-64)
781 Mbits/s: Super FEC interface (digital wrapper and OC-192/STM-64)
850 Mbits/s: Super FEC interface (digital wrapper and OC-192/STM-64)
The device interfaces directly to industry-standard multiplexer and demultiplexer ICs. This allows Lattice to offer cost-effective solutions for a variety of line interfaces:

Optical Internetworking Forum (OIF) SERDES -- Framer Interface (SFI-4)
10 Gigabit Ethernet 16-bit Interface (XSBI)
10 Gbit/s Strong Forward Error Correction (FEC) rates
12.5 Gbit/s Super FEC rates
Lattice`s 10 Gigabit Ethernet PCS intellectual property core includes the following features:

Elastic buffers implemented as 256x72 FIFOs in embedded RAM
XGMII for interfacing to 10 Gbits/s Ethernet MACs
64/66b encoder/decoder
Scrambler and deScrambler with word aligner (x59 + x39 +1)
Quad 2.5 Gbits/s SONET/SDH to 10 Gbits/s SONET/SDH MUX/deMUX functions
Idle insertion and deletion
Serial Management Interface (SMI) corresponding to Clause 45 of the IEEE 802.3ae standard
Lattice can deliver the PCS core as a ready-to-run bitstream or with VHDL source code, along with simulation and synthesis scripts, and complete documentation.

About Extreme Networks

Extreme Networks, Inc., delivers a more effective applications and services infrastructure by creating networks that are faster, simpler and more cost-effective. Headquartered in Santa Clara, Calif., Extreme Networks markets its network switching solutions in more than 50 countries. For more information, visit www.extremenetworks.com

About Lattice Semiconductor Corporation

Oregon-based Lattice Semiconductor Corporation designs, develops and markets the broadest range of high-performance ISP(TM) programmable logic devices (PLDs), Field Programmable Gate Arrays (FPGAs) and Field Programmable System Chip (FPSC) devices. Lattice offers total solutions for today`s system designs by delivering the most innovative programmable silicon products that embody leading-edge system expertise.

Lattice products are sold worldwide through an extensive network of independent sales representatives and distributors, primarily to OEM customers in the fields of communication, computing, computer peripherals, instrumentation, industrial controls and military systems. Company headquarters are located at 5555 NE Moore Court, Hillsboro, Oregon 97124 USA; Telephone [phone], FAX [phone]. For more information on Lattice Semiconductor Corporation, access our World Wide Web site at http://www.latticesemi.com.

Statements in this news release looking forward in time are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties including demand for and production of our customers` systems that use our products, our dependencies on our silicon wafer suppliers, the impact of competitive products and pricing, technological and product development risks and other risk factors detailed in the Company`s Securities and Exchange Commission filings. Actual results may differ materially from forward-looking statements.

Lattice Semiconductor Corporation, L (& design), Lattice (& design), in-system programmable, ISP, ORCA and specific product designations are either registered trademarks or trademarks of Lattice Semiconductor Corporation or its subsidiaries in the United States and/or other countries.

Extreme Networks and BlackDiamond are registered trademarks of Extreme Networks, Inc. in the United States and other countries.

General Notice: Other product names used in this publication are for identification purposes only and may be trademarks of their respective holders.



--------------------------------------------------------------------------------
Contact:
Lattice Semiconductor
Sean Hildenbrand, 503/268-8000
[e-mail]
or
Extreme Networks
Greg Cross, 408/579-3483
[e-mail]



--------------------------------------------------------------------------------
Source: Lattice Semiconductor

[panik]

Extreme Networks Announces Preliminary First Quarter Results
Monday September 30, 6:01 am ET


SANTA CLARA, Calif., Sept. 30 /PRNewswire-FirstCall/ -- Citing weak economic conditions, Extreme Networks, Inc. (Nasdaq: EXTR - News) today announced that it expects revenue for the first quarter ended Sept. 29, 2002 to be approximately $100 million, as compared to $113 million in revenue in the quarter ended June 30, 2002. Based on this revenue level, the Company expects to report a loss of approximately $0.03 to $0.04 per share for the quarter on a GAAP basis.
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"With the strong focus on our core enterprise market, Extreme maintains its leadership position in building high-performance networks that offer organizations a significant return on investment with lower cost of ownership," said Gordon Stitt, CEO of Extreme Networks. "We have enhanced our distribution channel programs and service capabilities extending our reach around the world."

Extreme Networks has a cash balance of approximately $400 million and is generating positive cash flow from operations. For the quarter ended Sept. 29, 2002 the Company expects its book-to-bill ratio to be above 1.0 and its backlog to be within its normal range.

Extreme Networks will host a conference call to further discuss these preliminary results at 8:30 a.m. Eastern Time today. The conference call may include additional material information and investors are encouraged to attend or review the conference call on our website. To listen to the call, use either of the following web links: www.extremenetworks.com/aboutus/investor or www.shareholder.com/extr/medialist.cfm Additionally, the call can be accessed by dialing 888-245-7013, or 973-582-2767. Replay information will also be available at www.extremenetworks.com. Final results for the fiscal first quarter 2003 are scheduled to be released on October 16, 2002.

Extreme Networks, Inc.

Extreme Networks provides the most effective applications and services infrastructure by creating networks that are faster, less complex and more cost-effective than conventional solutions. Headquartered in Santa Clara, Calif., Extreme Networks sells it awarding-winning switching solutions in more than 50 countries. For more information, visit www.extremenetworks.com.

This announcement contains forward-looking statements that involve risks and uncertainties, including statements about expected quarterly results and plans to lower costs, and other statements that include the words "expect", "anticipate" or similar words. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including, changes that may result as we review and assess the actual quarterly results and the other risks that affect our business, including but not limited to: (i) our rapid growth and potential risks associated with this growth, and a limited operating history and limited history of profitability that make it more difficult to predict results; (ii) current economic trends in worldwide markets; (iii) fluctuations in demand for our products and services; (iv) a highly competitive business environment for network switching equipment; and (v) the possibility that we might experience delays in the development of new technology and products. More information about potential factors that could affect our business and financial results is included in our Annual Report on Form 10-K for the year ended June 30, 2001 and our Annual Report on Form 10-K for the fiscal year ended June 30, 2002, to be filed on the date of the press release, under the captions: "Management`s Discussion and Analysis of Financial Condition and Results of Operations," and "Risk Factors," which are on file with the Securities and Exchange Commission.




--------------------------------------------------------------------------------
Source: Extreme Networks, Inc.

[panik]

Reuters Company News
Extreme Networks sees loss, lower revenue
Monday September 30, 6:25 am ET


SANTA CLARA, Calif., Sept 30 (Reuters) - Network equipment maker Extreme Networks Inc., (NasdaqNM:EXTR - News) on Monday warned it would post a quarterly loss, not the profit Wall Street had expected, as weak economic conditions restrain revenue.
ADVERTISEMENT


The Santa Clara, California, company said it expects revenue for the first quarter ended Sept. 29, of about $100 million, as compared to $108.3 million in the same quarter last year. Wall Street analysts had expected revenue of about $115 million, according to research firm Thomson First Call.

Based on this revenue level, the company expects to report a loss ranging from 3 cents to 4 cents a share compared with break-even a year earlier, excluding a number of charges. Wall Street, on average, expected a profit of 4 cents.

Extreme Networks has a cash balance of approximately $400 million and is generating positive cash flow from operations, it said.

For the quarter, the company expects its book-to-bill ratio to be above 1 and its backlog to be within its normal range.

Extreme Networks will host a conference call to further discuss these preliminary results at 8:30 EDT Monday.

[panik]

Nortel Networks, Extreme Networks Announce Settlement
Monday September 30, 9:01 am ET


TORONTO--(BUSINESS WIRE)--Sept. 30, 2002--Nortel Networks Limited (NYSE:NT - News; TSX:NT. - News) and Extreme Networks, Inc. (Nasdaq:EXTR - News) today announced that they have entered into a patent cross license agreement, the terms and conditions of which are confidential. The pending lawsuit between Nortel Networks Limited, Nortel Networks, Inc., the U.S. subsidiary of Nortel Networks Limited, and Extreme Networks in the United States District Court for the District of Massachusetts, Civil Action No. 01-10443, has been dismissed.
Advertisement


Extreme Networks provides the most effective applications and services infrastructure by creating networks that are faster, less complex and more cost-effective than conventional solutions. Headquartered in Santa Clara, Calif., Extreme Networks sells its award-winning switching solutions in more than 50 countries. For more information, visit www.extremenetworks.com.

Nortel Networks is an industry leader and innovator focused on transforming how the world communicates and exchanges information. The company is supplying its service provider and enterprise customers with communications technology and infrastructure to enable value-added IP data, voice and multimedia services spanning Metro and Enterprise Networks, Wireless Networks and Optical Networks. As a global company, Nortel Networks does business in more than 150 countries. More information about Nortel Networks can be found on the Web at www.nortelnetworks.com.

Certain information included in this press release is forward-looking and is subject to important risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors which could cause results or events to differ from current expectations include, among other things: the severity and duration of the industry adjustment; the sufficiency of our restructuring activities, including the potential for higher actual costs to be incurred in connection with restructuring actions compared to the estimated costs of such actions; fluctuations in operating results and general industry, economic and market conditions and growth rates; the ability to recruit and retain qualified employees; fluctuations in cash flow, the level of outstanding debt and debt ratings; the ability to meet financial covenants contained in our credit agreements; the ability to make acquisitions and/or integrate the operations and technologies of acquired businesses in an effective manner; the impact of rapid technological and market change; the impact of price and product competition; international growth and global economic conditions, particularly in emerging markets and including interest rate and currency exchange rate fluctuations; the impact of rationalization in the telecommunications industry; the dependence on new product development; the uncertainties of the Internet; the impact of the credit risks of our customers and the impact of increased provision of customer financing and commitments; stock market volatility; the entrance into an increased number of supply, turnkey, and outsourcing contracts which contain delivery, installation, and performance provisions, which, if not met, could result in the payment of substantial penalties or liquidated damages; the ability to obtain timely, adequate and reasonably priced component parts from suppliers and internal manufacturing capacity; the future success of our strategic alliances; and the adverse resolution of litigation. For additional information with respect to certain of these and other factors, see the reports filed by Nortel Networks Corporation and Nortel Networks Limited with the United States Securities and Exchange Commission. Unless otherwise required by applicable securities laws, Nortel Networks Corporation and Nortel Networks Limited disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Nortel Networks, the Nortel Networks logo and the Globemark are trademarks of Nortel Networks.



--------------------------------------------------------------------------------
Contact:
Nortel Networks
Business media:
David Chamberlin, 972/685-4648
[e-mail]
or
Investors:
888/901-7286
905/863-6049
[e-mail]
or
Extreme Networks
Valeria Bellofatto, 408/579-2963
[e-mail]



--------------------------------------------------------------------------------
Source: Nortel Networks

[rotty]

von rotty `help` 01.10.02 10:44:26
betrifft Aktie: EXTREME NETWORKS DL-,001
POSITVES zu Extreme Network extr/exm - Neuer umfangreicher Deal mit u.a. NORTEL - gestriges Abschluß-ASK bereits auf 4,6$:

---->
Das EXTR (Extreme Network) aufgrund des miesen Umfeldes in der Kommunikationsbranche auch Federn lassen mußte, war klar.
ABER Extr/Exm ist deutlich besser aufgestellt und hat gestern das Rennen um den großen Contract mit NORTEL (Deal-Abschluß auf breit aufgestellten internationalen Nivau, mit guten Aussichten auf entspr. Earnings)- gegenüber den Konkurrenten siw Sun u.A.
Vor Börsenschluß stieg das Papier um mehr als 9% (ebenfalls weiter nachbörslich) mit entspr. ASK auf gar 4,6$ an der Nas. Entsprechend dürfte heute die US-Eröffnung am Markt aussehen.

Ich stelle Euch hierzu jetzt die Deal-Meldung (orginal) mit NORTEL rein, damit Ihr Euch selbst ein Bild machen könnt, desgl. die äußerst umfangreiche Fundamentalanalysen von Schaeffer´s Midday Options & besonders von Item 7. Managements Discussion an Analysis of Financial Coditions an Results of Operations (detailiert und umfangreich):

----->
Nr. 1.:
NORTEL NETWORKS: Nortel Networks, Extreme Networks announce settlement


TORONTO, Sep 30, 2002 (M2 PRESSWIRE via COMTEX) -- Nortel Networks* Limited
[NYSE/TSX: NT] and Extreme Networks, Inc. [NASDAQ: EXTR] announced that they
have entered into a patent cross license agreement, the terms and conditions of
which are confidential. The pending lawsuit between Nortel Networks Limited,
Nortel Networks, Inc., the U.S. subsidiary of Nortel Networks Limited, and
Extreme Networks in the United States District Court for the District of
Massachusetts, Civil Action No. 01-10443, has been dismissed.

Extreme Networks provides the most effective applications and services
infrastructure by creating networks that are faster, less complex and more
cost-effective than conventional solutions. Headquartered in Santa Clara,
Calif., Extreme Networks sells its award-winning switching solutions in more
than 50 countries.

For more information, visit www.extremenetworks.com.

Nortel Networks is an industry leader and innovator focused on transforming how
the world communicates and exchanges information. The company is supplying its
service provider and enterprise customers with communications technology and
infrastructure to enable value-added IP data, voice and multimedia services
spanning Metro and Enterprise Networks, Wireless Networks and Optical Networks.
As a global company, Nortel Networks does business in more than 150 countries.

More information about Nortel Networks can be found on the Web at
www.nortelnetworks.com.

Certain information included in this press release is forward-looking and is
subject to important risks and uncertainties. The results or events predicted in
these statements may differ materially from actual results or events. Factors
which could cause results or events to differ from current expectations include,
among other things: the severity and duration of the industry adjustment; the
sufficiency of our restructuring activities, including the potential for higher
actual costs to be incurred in connection with restructuring actions compared to
the estimated costs of such actions; fluctuations in operating results and
general industry, economic and market conditions and growth rates; the ability
to recruit and retain qualified employees; fluctuations in cash flow, the level
of outstanding debt and debt ratings; the ability to meet financial covenants
contained in our credit agreements; the ability to make acquisitions and/or
integrate the operations and technologies of acquired businesses in an effective
manner; the impact of rapid technological and market change; the impact of price
and product competition; international growth and global economic conditions,
particularly in emerging markets and including interest rate and currency
exchange rate fluctuations; the impact of rationalization in the
telecommunications industry; the dependence on new product development; the
uncertainties of the Internet; the impact of the credit risks of our customers
and the impact of increased provision of customer financing and commitments;
stock market volatility; the entrance into an increased number of supply,
turnkey, and outsourcing contracts which contain delivery, installation, and
performance provisions, which, if not met, could result in the payment of
substantial penalties or liquidated damages; the ability to obtain timely,
adequate and reasonably priced component parts from suppliers and internal
manufacturing capacity; the future success of our strategic alliances; and the
adverse resolution of litigation. For additional information with respect to
certain of these and other factors, see the reports filed by Nortel Networks
Corporation and Nortel Networks Limited with the United States Securities and
Exchange Commission. Unless otherwise required by applicable securities laws,
Nortel Networks Corporation and Nortel Networks Limited disclaim any intention
or obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.

* Nortel Networks, the Nortel Networks logo and the Globemark are trademarks of
Nortel Networks.

CONTACT: David Chamberlin, Nortel Networks Tel: [phone] e-mail:
[e-mail]

M2 Communications Ltd disclaims all liability for information provided within M2
PressWIRE. Data supplied by named party/parties. Further information on M2
PressWIRE can be obtained at http://www.presswire.net on the world wide web.
Inquiries to [e-mail].


__________________________

Nr. 2:
Nortel Networks, Extreme Networks Announce Settlement


TORONTO, ONTARIO, Sep 30, 2002 (CCNMatthews via COMTEX) -- Nortel Networks
Limited (NYSE:NT) (TSX:NT.) and Extreme Networks, Inc. (Nasdaq: EXTR) today
announced that they have entered into a patent cross license agreement, the
terms and conditions of which are confidential. The pending lawsuit between
Nortel Networks Limited, Nortel Networks, Inc., the U.S. subsidiary of Nortel
Networks Limited, and Extreme Networks in the United States District Court for
the District of Massachusetts, Civil Action No. 01-10443, has been dismissed.

Extreme Networks provides the most effective applications and services
infrastructure by creating networks that are faster, less complex and more
cost-effective than conventional solutions. Headquartered in Santa Clara,
Calif., Extreme Networks sells its award-winning switching solutions in more
than 50 countries. For more information, visit www.extremenetworks.com.

Nortel Networks is an industry leader and innovator focused on transforming how
the world communicates and exchanges information. The company is supplying its
service provider and enterprise customers with communications technology and
infrastructure to enable value-added IP data, voice and multimedia services
spanning Metro and Enterprise Networks, Wireless Networks and Optical Networks.
As a global company, Nortel Networks does business in more than 150 countries.
More information about Nortel Networks can be found on the Web at
www.nortelnetworks.com.

Certain information included in this press release is forward-looking and is
subject to important risks and uncertainties. The results or events predicted in
these statements may differ materially from actual results or events. Factors
which could cause results or events to differ from current expectations include,
among other things: the severity and duration of the industry adjustment; the
sufficiency of our restructuring activities, including the potential for higher
actual costs to be incurred in connection with restructuring actions compared to
the estimated costs of such actions; fluctuations in operating results and
general industry, economic and market conditions and growth rates; the ability
to recruit and retain qualified employees; fluctuations in cash flow, the level
of outstanding debt and debt ratings; the ability to meet financial covenants
contained in our credit agreements; the ability to make acquisitions and/or
integrate the operations and technologies of acquired businesses in an effective
manner; the impact of rapid technological and market change; the impact of price
and product competition; international growth and global economic conditions,
particularly in emerging markets and including interest rate and currency
exchange rate fluctuations; the impact of rationalization in the
telecommunications industry; the dependence on new product development; the
uncertainties of the Internet; the impact of the credit risks of our customers
and the impact of increased provision of customer financing and commitments;
stock market volatility; the entrance into an increased number of supply,
turnkey, and outsourcing contracts which contain delivery, installation, and
performance provisions, which, if not met, could result in the payment of
substantial penalties or liquidated damages; the ability to obtain timely,
adequate and reasonably priced component parts from suppliers and internal
manufacturing capacity; the future success of our strategic alliances; and the
adverse resolution of litigation. For additional information with respect to
certain of these and other factors, see the reports filed by Nortel Networks
Corporation and Nortel Networks Limited with the United States Securities and
Exchange Commission. Unless otherwise required by applicable securities laws,
Nortel Networks Corporation and Nortel Networks Limited disclaim any intention
or obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.

Nortel Networks, the Nortel Networks logo and the Globemark are trademarks of
Nortel Networks.



CONTACT: Nortel Networks

Business media:

Tina Warren

[phone]

[e-mail]

or

Investors:

[phone]

[phone]

[e-mail]


________________________________

Nr. 3 Schaeffer´s....:
Schaeffer`s Midday Options Update Features EXTR


CINCINNATI, Sep 30, 2002 /PRNewswire via COMTEX/ -- Today`s Schaeffer`s Midday
Options Update features Extreme Networks (Nasdaq: EXTR). The Midday Options
Update contains a brief commentary on the day`s most notable activity and a
table listing the most active calls and puts for the day. The Midday Options
Update is published every day at www.SchaeffersResearch.com -- the home of
Bernie Schaeffer and Schaeffer`s Investment Research. For additional information
about this report or to have it delivered to you free via email every day click
on the following link: http://www.schaeffersresearch.com/addinfo" target="_blank" rel="nofollow ugc noopener">http://www.schaeffersresearch.com/addinfo .



(Photo: http://www.newscom.com/cgi-bin/prnh/20020725/SCHAEFFERLOGO )

Schaeffer`s Midday Options Update:

Weak economic news has sent the market lower for the last day of trading for the
quarter. The September Chicago Purchasing Managers Index fell to 48.1, reaching
the lowest level since January. This reading compares to August`s 54.9 reading
and the Street estimate at 53.3 percent. In addition, August personal income
rose 0.4 percent versus the Street estimate of 0.50 percent and personal
spending rose 0.3 percent compared to the consensus expectation for a
0.6-percent rise. Today`s losses have caused the Dow Jones to slip below its
July lows for the first time, joining the Nasdaq Composite, which fell below
those lows last week.

At 12:34 p.m. eastern time, the Dow Jones Industrial Average (INDU - 7555.2) and
the S&P 500 Index (SPX - 811.21) are down 1.90 and 1.95 percent, respectively.
The Nasdaq Composite (COMP - 1172.9) is lower by 2.19 percent. On the options
front, at 12:36 p.m., total equity call volume checked in at 831,984 while total
equity put volume numbered 781,280. The composite put/call ratio across all
exchanges is 0.94. Breaking out the numbers a bit further, the CBOE put/call
ratio is sitting at 0.91.

Extreme Networks (Nasdaq: EXTR) is seeing some heavy option volume at its March
5.00 call. More than 7,300 contracts have changed hands at this strike, which
had only 251 contracts in open interest prior to today`s activity. The majority
of this volume crossed the tape in a block of 7,350 contracts at a bid price of
0.75. If this were a straight put sell, the investor would collect a total
premium of $551,250. The seller of these contracts would then need the shares to
close above the five level by the March expiration for the contracts to expire
worthless, allowing him/her to retain the entire premium.

Sentiment toward the security is fairly mixed, with calls more than doubling
puts in the front three months of options. EXTR`s Schaeffer`s put/call open
interest ratio is lower than 59.2 percent of those taken over the past 52 weeks.
In addition, the number of EXTR shares sold short dropped 32 percent since July
to 7.6 million shares. At the equity`s average daily trading volume, all the
short positions can be covered in roughly three days. Wall Street is split on
the stock, as 11 analysts rate it a "buy" or better, 10 rate it a "hold," and
two rate the shares a "strong sell," according to Zacks.

The network infrastructure equipment provider warned this morning that it would
fall short of first-quarter earnings estimates. The company now expects to
report revenue of $100 million, or a loss of three cents per share. The Street
had been anticipating earnings of $115 million, or a profit of four cents per
share. EXTR cited the continued weak economy for the earnings shortfall. The
stock dropped to hit a new all-time low at 3.41 on the news, but has since
rebounded on heavy trading volume back up to the four level. The shares still
remain well below their declining 10-day moving average at the 5.80 level.

Click the following link to see the Daily Chart of EXTR since August 2002 with
10-Day Moving Average: http://www.schaeffersresearch.com/wire?ID=6264" target="_blank" rel="nofollow ugc noopener">http://www.schaeffersresearch.com/wire?ID=6264 .

The best way to take advantage of the timely Schaeffer commentaries is to sign
up to receive their free e-newsletters -- Opening View, Midday Report, Market
Recap and Monday Morning Outlook. Click here to have the Schaeffer`s
commentaries delivered to you free via email every day:
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About Schaeffer`s Investment Research ( www.SchaeffersResearch.com )

Schaeffer`s Investment Research, founded by Bernie Schaeffer in 1981, is a
diversified financial information and trading resources company with subscribers
in over 110 countries. It publishes Bernie Schaeffer`s Option Advisor, the
nation`s leading subscription newsletter devoted to options, as well as many
other educational, bulletin and alert services. The firm`s website,
www.SchaeffersResearch.com , is recognized as one of the leading information
sources for stock and options traders and was cited as the top options website
by both Forbes and Barron`s.

Contact: Tom Godich at Schaeffer`s, Phone: [phone]; Email:
[e-mail]



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SOURCE Schaeffer`s Investment Research



CONTACT: Tom Godich of Schaeffer`s Investment Research, [phone],

or [e-mail]

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KEYWORD: Ohio

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________________________________________

Nr. 4 Neue Ratings von StockPickReport.com:
StockPickReport.com Announces Stock Evaluation Ratings: New Ratings on CIENA Corp., Extreme Networks, AT&T Wireless Services, Texas Instruments, Johnson & Johnson


SHREVEPORT, La., Sep 30, 2002 (BUSINESS WIRE) -- StockPickReport.Com
(IARD#119079 - http://www.stockpickreport.com/?src=pz ) makes these stock
evaluations for the short term:



CIENA Corp. (Nasdaq: CIEN) - Underperform

Extreme Networks (Nasdaq: EXTR) - Outperform

AT&T Wireless Services (NYSE:AWE) - Outperform

Texas Instruments (NYSE:TXN) - Underperform

Johnson & Johnson (NYSE:JNJ) - Underperform

WHAT THESE RATINGS MEAN:

StockPickReport.Com ranks stocks with a proprietary unbiased system of technical
analysis. These ratings do not indicate a "long term" view of any company
listed. These are ratings that reflect our opinion of a stock`s PRICE movement
versus the SP 500 over the short term.

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_________________________________-


Nr. 5 Rsults Extr und Sonstige:
Extreme Networks Announces Preliminary First Quarter Results
9/30/02 3:01 AM
Source: PR Newswire

SANTA CLARA, Calif., Sept. 30 /PRNewswire-FirstCall/ -- Citing weak economic conditions, Extreme Networks, Inc. (Nasdaq: EXTR) today announced that it expects revenue for the first quarter ended Sept. 29, 2002 to be approximately $100 million, as compared to $113 million in revenue in the quarter ended June 30, 2002. Based on this revenue level, the Company expects to report a loss of approximately $0.03 to $0.04 per share for the quarter on a GAAP basis.

"With the strong focus on our core enterprise market, Extreme maintains its leadership position in building high-performance networks that offer organizations a significant return on investment with lower cost of ownership," said Gordon Stitt, CEO of Extreme Networks. "We have enhanced our distribution channel programs and service capabilities extending our reach around the world."

Extreme Networks has a cash balance of approximately $400 million and is generating positive cash flow from operations. For the quarter ended Sept. 29, 2002 the Company expects its book-to-bill ratio to be above 1.0 and its backlog to be within its normal range.

Extreme Networks will host a conference call to further discuss these preliminary results at 8:30 a.m. Eastern Time today. The conference call may include additional material information and investors are encouraged to attend or review the conference call on our website. To listen to the call, use either of the following web links: www.extremenetworks.com/aboutus/investor or www.shareholder.com/extr/medialist.cfm Additionally, the call can be accessed by dialing 888-245-7013, or 973-582-2767. Replay information will also be available at www.extremenetworks.com. Final results for the fiscal first quarter 2003 are scheduled to be released on October 16, 2002.

Extreme Networks, Inc.

Extreme Networks provides the most effective applications and services infrastructure by creating networks that are faster, less complex and more cost-effective than conventional solutions. Headquartered in Santa Clara, Calif., Extreme Networks sells it awarding-winning switching solutions in more than 50 countries. For more information, visit www.extremenetworks.com.

This announcement contains forward-looking statements that involve risks and uncertainties, including statements about expected quarterly results and plans to lower costs, and other statements that include the words "expect", "anticipate" or similar words. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including, changes that may result as we review and assess the actual quarterly results and the other risks that affect our business, including but not limited to: (i) our rapid growth and potential risks associated with this growth, and a limited operating history and limited history of profitability that make it more difficult to predict results; (ii) current economic trends in worldwide markets; (iii) fluctuations in demand for our products and services; (iv) a highly competitive business environment for network switching equipment; and (v) the possibility that we might experience delays in the development of new technology and products. More information about potential factors that could affect our business and financial results is included in our Annual Report on Form 10-K for the year ended June 30, 2001 and our Annual Report on Form 10-K for the fiscal year ended June 30, 2002, to be filed on the date of the press release, under the captions: "Management`s Discussion and Analysis of Financial Condition and Results of Operations," and "Risk Factors," which are on file with the Securities and Exchange Commission.


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SOURCE Extreme Networks, Inc.

+++++ Positives i.Zushg. mt Valdero (KOOPERATION Nr 2 neben Nortel):

Valdero`s Intelligent Supply Chain Control Selected By Extreme Networks
9/30/02 3:00 AM
Source: Business Wire

PALO ALTO, Calif.--(BUSINESS WIRE)--Sept. 30, 2002-- Network Equipment Provider Selects Valdero`s Latest Version -- 2.0 -- for Dynamic Supply Demand Matching and Collaboration, Enhanced Supply

Chain Execution

Valdero(TM) Corporation, the leader in Intelligent Supply Chain Control, today announced that Extreme Networks Inc. (Nasdaq: EXTR), a provider of award-winning switching solutions for global networks, has chosen Valdero 2.0 to enhance key relationships with suppliers and drive the overall performance of its manufacturing supply chain. Valdero 2.0, the latest version of its flagship application suite, bridges the gap between planning and execution in supply chain management, dramatically improving execution by providing real-time visibility and control over changes in collaborative supply chains.

With Valdero 2.0, Extreme Networks and other manufacturing companies can dramatically decrease process and inventory costs while improving performance across multi-tiered supply chains. Valdero 2.0 allows companies to realize significant cost savings in a matter of weeks by making it easy for them to continuously identify changes across the extended supply chain; analyze the business impact of those changes; receive guidance on appropriate responses; and act based on their approved procedures, business rules, trends and business objectives.

"The biggest issue enterprises face today is intelligent visibility of their supply chains-both upstream and down. Valdero addresses the demons of real-time visibility to improve execution for global manufacturers," said Ann Grackin, vice president supply chain strategies at AMR Research.

Addresses Business Pains with Visibility and Collaboration

Through Valdero`s new supply demand match engine and collaboration platform, Extreme will gain visibility across its global supply chain, allowing it to meet aggressive goals for customer service and operational excellence through continued improvement of its supply chain execution. "We are working to create a highly efficient and responsive supply chain that will strengthen the competitive advantage we`ve already established through superior products," said Diane Pewitt, Extreme Networks` vice president of operations. "By allowing easy access to changes across the entire supply chain, Valdero gives us the opportunity to dramatically reduce our inventory and process costs. And, by simplifying what used to be the most time-intensive part of managing our supply chain, Valdero enables us to raise the bar on other, more sophisticated elements, such as customer fulfillment and long-term supply positioning."

Changing Requirements for Supply Chain Control

Valdero is specifically designed for companies relying on collaborative supply chains to meet variable customer demand for their products. The complexity of managing multi-tiered supply chains with multiple partners means that these companies have limited visibility into remote operations, high latency in communicating changes in supply and demand, poor responsiveness to disruptions, and a high liability for poor execution. All of these problems result in high inventory costs, high liabilities and missed revenue opportunities.

"Valdero gives manufacturers and their supply chain partners a common platform for executing on key processes based on shared, real-time information and agreed-upon metrics, plans and performance thresholds," said S. Singh Mecker, Valdero`s president and CEO. "By offering true collaborative resolution, rather than simple information sharing, we`re allowing businesses to react quickly to changes and achieve closed-loop control over their supply chain performance."

About The Valdero Supply Chain Control Suite

The Valdero Supply Chain Control Suite comprises four applications

Inventory Control, Demand Control, Planning and Fulfillment Control, and Product Change Control -- that allow businesses to dramatically reduce inventory, production and process costs by giving them a single transparent view of the supply chain, proactive performance measurement, management by exception, continuous supply demand balancing and guided resolution.

About Valdero

Valdero Corporation (www.valdero.com) is the leading provider of enterprise-class software solutions for intelligent supply chain control. Valdero gives companies real-time visibility into and resolution of changes in collaborative supply chains. With Valdero, businesses can create high-velocity supply chains that are able to respond quickly and efficiently to constant variations in supply, product configuration and customer demand. Valdero has corporate headquarters in Palo Alto, Calif.

Valdero is a trademark of Valdero Corporation. All other brand, product, and company names used herein may be trademarks or registered trademarks of their respective owners.

--30--jb/sf* CONTACT: Valdero Corporation
Caroline Savoie, 650/404-2234
[e-mail]
or
B3 Communications
Bonnie Harris, 415/332-5816
[e-mail]

___________________________________-

Nr. 6 Item 7. Managements Discussion an Analysis of Financial Coditions an Results of Operations (detailiert und umfangreich):

EXTREME NETWORKS INC
Filed on Sep 30 2002

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
Critical Accounting Policies and Estimates

Our significant accounting policies are more fully described in Note 1 of Notes to Consolidated Financial Statements included in this Form 10-K. The preparation of our consolidated financial statements in accordance with generally accepted accounting principles requires us to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the period reported. By their nature, these estimates and judgments are subject to an inherent degree of uncertainty. We base our estimates and judgments on historical experience, market trends, and other factors that are believed to be reasonable under the circumstances. Actual results may differ from these estimates under different assumptions or conditions. We believe the critical accounting policies stated below, among others, affect our more significant judgments and estimates used in the preparation of our consolidated financial statements.

Revenue Recognition

We derive the majority of our revenue from sales of our stackable and chassis-based networking equipment, with the remaining revenue generated from service fees relating to our products, including installation, maintenance and training. Our revenue recognition policy follows SEC Staff Accounting Bulletin (SAB) No. 101, Revenue Recognition in Financial Statements. We generally recognize product revenue from our end-user and reseller customers at the time of shipment, provided that persuasive evidence of an arrangement exists, the price is fixed or determinable and collectibility of sales proceeds is reasonably assured. When significant obligations remain after products are delivered, such as installation or customer acceptance, revenue and related costs are deferred until such obligations are fulfilled. Revenue from service obligations under maintenance contracts is deferred and recognized on a straight-line basis over the contractual period, which is typically 12 months.

We make certain sales to partners in two-tier distribution channels. The first tier consists of a limited number of independent distributors that sell primarily to resellers and, on occasion, to end-user customers. Under specified conditions, we grant the right to these distributors to return a portion of unsold inventory to us for the purpose of stock rotation. Therefore, we defer recognition of revenue on sales to distributors until the distributors sell the product, as evidenced by a monthly sales-out report that each distributor provides us. The second tier of the distribution channel consists of a large number of third-party resellers that sell directly to end-users and are not granted return privileges, except for defective products.

We provide an allowance for sales returns based on our historical returns, analysis of credit memo data and return policies which has been netted against net revenue in the accompanying consolidated statements of operations. If the historical data used by us to calculate the estimated sales returns and allowances does not properly reflect future returns, these estimates would have to be modified, thus resulting in an impact to net revenue.

Inventories

The networking industry is characterized by rapid technological change, frequent new product introductions, changes in customer requirements, and evolving industry standards. We perform a detailed assessment of


Table of Contents inventory at each balance sheet date, which includes a review of, among other factors, demand requirements, product lifecycle and product development plans and quality issues. Based on this analysis, we record adjustments, when appropriate, to reflect inventory at net realizable value. In recent quarters, demand for our products has been adversely affected by the downturn in the United States economy and reduced telecommunications and infrastructure capital spending. Although we make every effort to ensure the accuracy of our forecasts of product demand, any significant unanticipated changes in demand or technological developments would significantly impact the value of our inventory and our reported operating results. In the future, if we find that our estimates are too optimistic and we determine that our inventory needs to be written down, we will be required to recognize such costs in our cost of revenue at the time of such determination. Conversely, if we find our estimates are too pessimistic and we subsequently sell product that has previously been written down, our operating margin in that period will be unusually favorable.

Warranty Reserves

Networking products can contain undetected software or hardware errors when new products or new versions or updates of existing products are released to the marketplace. We have experienced such errors in connection with new products and product upgrades. Our hardware warranty period is typically 12 months from the date of shipment to the end user and 14 months from the date of shipment to channel partners. Upon shipment of products to our customers, including both end users and channel partners, we estimate expenses for the cost to repair or replace products that may be returned under warranty and accrue the amount as revenue is recognized. Our determination of our warranty requirements is based on our actual historical experience with the product or product family, the frequency of new product introductions and product upgrades anticipated during the period, an estimate of repair and replacement costs and any product warranty problems that are identified after shipment. We adjust these accruals at each balance sheet date in accordance with changes in these factors. While we believe that our warranty accrual is adequate and that the judgment applied in calculating this accrual is appropriate, the assumptions used are based on estimates and estimated amounts could differ materially from our actual warranty expenses in the future.

Allowance for Doubtful Accounts

We continually monitor and evaluate the collectibility of our trade receivables based on a combination of factors. We record specific allowances for bad debts in general and administrative expense when we become aware of a specific customer’s inability to meet its financial obligation to us, such as in the case of bankruptcy filings or deterioration of financial position. Estimates are used in determining our allowances for all other customers based on factors such as current trends in the length of time the receivables are past due and historical collection experience. We mitigate some collection risk by requiring most of our customers in the Asian region, excluding Japan, to secure letters of credit prior to placing an order with us. During the year ended June 30, 2002, we increased our allowance for doubtful accounts, reflecting the adverse economic conditions affecting our customer base. While we believe that our current allowance for doubtful accounts receivable is appropriate, a change in the financial condition of specific customers may result in further adjustment to our estimates of the recoverability of receivables.

Deferred Tax Asset Valuation Allowance

We recognize deferred tax assets and liabilities based on the differences between the financial statement carrying amounts and the tax bases of assets and liabilities. Significant management judgment is required in determining our deferred tax assets and liabilities and any valuation allowance recorded against our net deferred tax assets. We make an assessment of the likelihood that our deferred tax assets will be recovered from future taxable income, and to the extent that recovery is not believed to be likely, a valuation allowance is established. For fiscal 2002 and 2001, we did not record a valuation allowance to reduce our deferred tax assets because we believed the amount was more likely than not to be realized. In the event we are unable to realize some or all of the deferred tax assets in the future, an adjustment to the deferred tax assets will be charged to income in the period such determination is made.


Table of Contents

Purchase Commitments

Currently, we have strategic partnerships with three contract manufacturers for the manufacture of our products. Our agreements allow them to procure long lead-time component inventory on our behalf based upon a rolling production forecast provided by us. We are contractually obligated to the purchase of long lead-time component inventory that our contract manufacturers procure in accordance with the forecast, unless we give notice of order cancellation outside of applicable component leadtimes. As of June 30, 2002, we were committed to purchase approximately $1.0 million of such inventory over the next four months. If actual demand of our products is below these projections, we may have excess inventory as a result of our purchase commitments of long lead-time components with our contract manufacturers. As a consequence, we may then need to record a charge to cost of revenue to reflect the impact of such excess purchase commitments.

Legal Contingencies

We are currently involved in various claims and legal proceedings. Periodically, we review the status of each significant matter and assess our potential financial exposure. If the potential loss from any claim or legal proceeding is considered probable and the amount can be estimated, we accrue a liability for the estimated loss. Because of uncertainties related to these matters, accruals, if any, are based only on the most current and dependable information available at any given time. As additional information becomes available, we may reassess the potential liability from pending claims and litigation and the probability of claims being successfully asserted against us. As a result, we may revise our estimates related to these pending claims and litigation. Such revisions in the estimates of the potential liabilities could have a material impact on our consolidated results of operations, financial position and cash flows in the future. For further detail, see Note 4 of Notes to Consolidated Financial Statements for a description of legal proceedings.

First Quarter Fiscal 2003

On September 30, 2002, we announced that we expected revenue for the first quarter ended September 29, 2002 to be approximately $100 million. Based on this revenue level, we expect to report a loss of approximately $0.03 to $0.04 per share for the quarter on a GAAP basis.

Results of Operations

Net Revenue

Net revenue was $441.6 million in fiscal 2002, $491.2 million in fiscal 2001 and $262.0 million in fiscal 2000, representing a decrease of 10.1% in fiscal 2002 from fiscal 2001 and an increase of 87.5% in fiscal 2001 from fiscal 2000. The decrease in net revenue in fiscal 2002 compared to fiscal 2001 was primarily due to a decline in revenue in the United States, as our business was negatively impacted by the cautious purchasing behavior of customers in the difficult economic environment during fiscal 2002, offset in part by an increase in revenue from customers in Japan. The increase in net revenue for fiscal 2001 resulted primarily from a higher volume of sales due to an increase in market acceptance of our products.

Sales outside of the United States accounted for 67%, 57% and 44% of net revenue in fiscal 2002, fiscal 2001 and fiscal 2000, respectively. The decrease in United States sales in fiscal 2002 as a percentage of total sales was primarily attributable to reduced sales within the United States in the first half of 2002 as a result of the events of September 11, 2001. Sales within the United States in the second half of fiscal 2002 steadily increased as a percentage of total sales. We expect that export sales will continue to represent a significant portion of net revenue, although export sales may decline as a percentage of net revenue. All sales transactions are currently denominated in United States dollars.

During fiscal 2002, the United States economy experienced a rapid and increasingly severe downturn. This adversely affected our product demand and made it increasingly difficult to accurately forecast future production requirements. Our revenue for the first quarter of fiscal 2003 will be adversely affected by the continuing weakness and uncertainty in the economies of the United States and other industrialized countries. While we


Table of Contents expect this economic downturn to continue for the remainder of calendar year 2002, we cannot predict the extent, severity or length of this economic downturn in the United States or in the other geographic regions where we currently sell our products.

We expect to experience some erosion of average selling prices of our products due to a number of factors, including competitive pricing pressures, promotional pricing and rapid technological change. Our revenue is derived primarily from sales of our Summit, BlackDiamond and Alpine products and fees for services relating to our products, including installation maintenance and training. The level of sales to any customer may vary from period to period; however, we expect that significant customer concentration will continue for the foreseeable future. One customer, who is a distributor of our products, accounted for 15% and 16%, respectively, of our net revenue in fiscal 2002 and fiscal 2001. No customer accounted for more than 10% of our net revenue in fiscal 2000.

Cost of Revenue

Cost of revenue includes costs of raw materials, direct labor, manufacturing overhead and amounts paid to third-party contract manufacturers, and other costs related to warranty and contractual obligations. Net revenue less cost of revenue (gross profit) was $207.1 million in fiscal 2002, $210.0 million in fiscal 2001 and $135.0 million in fiscal 2000, representing a decrease of 1.4% in fiscal 2002 from fiscal 2001 and an increase of 55.5% in fiscal 2001 from fiscal 2000. The decrease in fiscal 2002 was primarily due to the related decrease in revenue, and the increase in fiscal 2001 was primarily due to an increase in revenue. Gross margin (gross profit as a percentage of net revenue) was 46.9% in fiscal 2002, 42.7% in fiscal 2001 and 51.6% in fiscal year 2000. The increase in gross margin in fiscal 2002 over fiscal 2001 resulted primarily from a shift in product mix and a decrease in the net charges related to contract manufacturers and other costs associated with the carrying value of inventory, including a benefit to cost of revenue in fiscal 2002 of $4.8 million relating to products sold that were written off in fiscal 2001. This increase in gross margin in fiscal 2002 over fiscal 2001 was adversely affected by a significant increase in warranty expense. During fiscal 2002 we experienced a higher than normal rate of warranty expense due to problems with various component parts within our products and our election, in some cases, to address those problems by replacing such products with new rather than refurbished replacements. We continued to experience higher than normal rates of warranty expense in the first quarter of fiscal 2003. We intend to reduce these expenses in the future, however our gross margin will continue to be adversely affected until we have completed the implementation of operational changes designed to reduce these expenses.

The decrease in gross margin in fiscal 2001 over fiscal 2000 was primarily due to a $40.3 million charge for excess and obsolete inventory, non-cancelable purchase commitments and warranty expenses.

Inventory purchases and commitments are based upon our forecast of future sales. To mitigate the component supply constraints that have existed in the past, we built inventory levels for certain components with long lead times and entered into long-term commitments for certain components. Due to a sudden and significant decrease in demand for our products that became apparent in the third quarter of fiscal 2001, inventory levels, including non-cancelable purchase commitments, exceeded our requirements based on our forecast of expected demand. This additional excess inventory charge was calculated based on the inventory levels in excess of our forecast of expected demand for each product. Based on our future demand forecast, we do not currently anticipate that the excess inventory subject to these provisions will be used at a later date. Furthermore, we may be required to take additional write-downs in the future related to excess inventory.

Our gross margin is variable and dependent on many factors, some of which are outside of our control. Some of the primary factors affecting gross margin include demand for our products, changes in our pricing policies and those of our competitors, and the mix of products sold. Our gross margin may be adversely affected by increases in material or labor costs, increases in warranty expense, heightened price competition, obsolescence charges and higher inventory balances. In addition, our gross margin may fluctuate due to the mix of distribution channels through which our products are sold, including the effects of our two-tier distribution model. Any significant decline in sales to our resellers, distributors or end-user customers, or the loss of any of our resellers, distributors or end-user customers could have a material adverse effect on our business, operating results and financial condition. In addition, an increase in distribution channels generally makes it more difficult to forecast the mix of products sold


Table of Contents and the timing of orders from our customers. New product introductions may result in excess or obsolete inventories, which may also reduce our gross margin. Furthermore, if product or related warranty costs associated with these new products are greater than we have experienced, gross margin may be adversely affected.

Cost of revenue includes the cost of our manufacturing overhead. We outsource the majority of our manufacturing and supply chain management operations, and we conduct quality assurance, manufacturing engineering, document control and repairs at our facility in Santa Clara, California. Accordingly, a significant portion of our cost of revenue consists of payments to our contract manufacturers: Flextronics International, Ltd., Plexus Corp. and Solectron Corporation. As part of our business relationship with MCMS, Inc., the predecessor-in-interest to Plexus Corp., in September 2000, we entered into a $9.0 million operating equipment lease for manufacturing equipment with a third-party financing company; we, in turn, subleased the equipment to MCMS. Due to the liquidity problems at MCMS and its voluntary bankruptcy filing for protection under Chapter 11 on September 18, 2001, we recorded a charge of $9.0 million related to the equipment lease in the first quarter of fiscal 2002. On January 8, 2002, MCMS completed an agreement to sell a majority of its assets to Plexus Corp. for $45.0 million.

We expect to realize lower per-unit product costs from our contract manufacturers as a result of volume efficiencies if and as volumes increase. However, we do not know if or when such price reductions will occur. The failure to obtain these price reductions could have a material adverse effect upon our gross margin and operating results.

Sales, Marketing and Service Expenses

Sales, marketing and service expenses consist of salaries, commissions and related expenses for personnel engaged in marketing, sales and customer support and service functions, as well as trade shows and promotional expenses. Sales, marketing and service expenses were $141.0 million in fiscal 2002, $154.6 million in fiscal 2001 and $67.1 million in fiscal 2000, representing a decrease of 8.8% in fiscal 2002 from fiscal 2001 and an increase of 130.2% in fiscal 2001 from fiscal 2000. The decrease in fiscal 2002 was primarily due to lower aggregate sales commissions and a reduction of approximately 80 people in our sales, marketing and support organization. As a percentage of net revenue, sales, marketing and service expenses increased to 31.9% in fiscal 2002 from 31.5% in fiscal 2001. This percentage increase was primarily the result of a decrease in our net revenue in fiscal 2002. As a percentage of net revenue, sales, marketing and service expenses increased to 31.5% in fiscal 2001, compared with 25.6% in fiscal 2000. This increase was primarily due to the hiring of additional sales, marketing and customer support personnel, increased sales commission expenses resulting from increased net revenue and increased promotional expenses. Service expenses were $23.1 million, $17.4 million and $5.6 million in fiscal 2002, 2001 and 2000, respectively. These increases were due to increased staffing and new programs for our distributors and resellers. The rate of future spending increases in our sales, marketing and service expenses, if any, will depend on the pace of recovery in the market for networking products.

Research and Development Expenses

Research and development expenses consist principally of salaries and related personnel expenses, consultant fees and prototype expenses related to the design, development, testing and enhancement of our products. Research and development expenses were $61.5 million in fiscal 2002, $57.9 million in fiscal 2001 and $33.0 million in fiscal 2000, representing an increase of 6.2% in fiscal 2002 from fiscal 2001 and an increase of 75.4% in fiscal 2001 from fiscal 2000. These increases were primarily due to higher payroll and related personnel expenses associated with the addition of new personnel, partly through acquisitions, to support our multiple product development efforts as well as non-recurring engineering charges and prototype costs. As a percentage of net revenue, research and development expenses increased to 13.9% in fiscal 2002 from 11.8% in fiscal 2001. This percentage increase was primarily the result of a decrease in our net revenue in fiscal 2002. As a percentage of revenue, research and development expenses decreased to 11.8% in fiscal 2001 from 12.6% in fiscal 2000. This percentage decrease was primarily the result of an increase in our net revenue in fiscal 2001. We expense all research and development expenses as incurred. We believe that continued investment in research and development is critical to attaining our strategic objectives.


Table of Contents General and Administrative Expenses

General and administrative expenses consist primarily of salaries and related expenses for executive, finance and administrative personnel, professional fees and other general corporate expenses. General and administrative expenses were $26.9 million in fiscal 2002, $25.8 million in fiscal 2001 and $11.9 million in fiscal 2000, representing an increase of 4.3% in fiscal 2002 from fiscal 2001 and an increase of 116.8% in fiscal 2001 from fiscal 2000. The increase in fiscal 2002 was due primarily to increased professional fees and directors and officers insurance premiums. From fiscal 2001 to fiscal 2002, general and administrative expenses increased as a percentage of net revenue to 6.1% in fiscal 2002 from 5.2% in fiscal 2001 and 4.5% in fiscal 2000. The percentage increase in fiscal 2002 from fiscal 2001 was primarily the result of a decrease in our net revenue. The percentage increase in fiscal 2001 from fiscal 2000 was due primarily to an increase in bad debt expense, the hiring of additional finance, information technology, legal and administrative personnel and increased professional fees. The rate of any future spending increases in our general and administrative expenses, if any, will depend on the pace of recovery in the market for networking products.

Impairment of Acquired Intangible Assets

In the third quarter of fiscal 2002, we recorded in operating expenses asset impairment charges totaling $89.8 million against certain acquired intangible assets and goodwill. The acquired intangible assets and goodwill that were impaired originated primarily from the acquisitions of Optranet in January 2001 and Webstacks in March 2001.

Optranet’s products were originally targeted at the building local exchange carrier, or BLEC, and multi-tenant unit, or MTU, markets. It was believed that, by incorporating Optranet’s technology into our Alpine product family, we would be able to expand our presence in customer networks and give metropolitan service providers an advanced Ethernet service-provisioning platform for Ethernet access over several transport systems. We believed we would be able to exploit the synergies and growth opportunities of Optranet’s in-process products due to their complementary nature to our strategy and compatibility with our products. However, following the acquisition date, demand for Optranet’s products fell sharply, as the majority of Optranet’s targeted customers either entered into bankruptcy or dissolved. Based on industry analysis, the BLEC and MTU markets are not expected to recover in the next few years, and in the event that a recovery eventually occurs, BLEC and MTU service providers may likely require different solutions. As of the impairment valuation date of March 31, 2002, the Optranet products were repositioned to address the remote and branch office access needs of enterprise customers. However, this secondary market has also slowed due to decreased information technology spending and has largely been addressed by competing products based on legacy technologies.

Webstacks’ products were originally targeted at the e-business and hosting facility markets. We acquired Webstacks in an effort to expand our IP services to provide robust Layer 4 ~ Layer 7 switching solutions required for building high-performance content-aware networks. We believed that we would be able to exploit the growth opportunities of Webstacks’ products by complementing our Layer 3 product focus with high-end Layer 4 ~ Layer 7 networking devices. However, demand for higher-cost Layer 4 ~ Layer 7 switches in these markets did not materialize, largely due to worsening economic conditions. E-business customers continued to rely on slower speed networking devices and host facilities have not yet grown to a scale that necessitates data transfer at gigabit speeds. As of the impairment valuation date of March 31, 2002, the Webstacks products were repositioned to address enterprise data center needs, including security products. Although this market has slowed since the acquisition date, based on industry analysis, we believe there continues to be potential for moderate growth in this market.

Based on the foregoing impairment factors, we worked with valuation experts to perform asset impairment tests at the lowest operational level that had separately identifiable cash flows related to the Webstacks and Optranet intangible assets and goodwill. The tests were performed by comparing the expected undiscounted cash flows over 57-month periods for each of Webstacks and Optranet to the carrying amount of the long-lived assets


Table of Contents resulting from the acquisitions. We found that the sum of the undiscounted cash flows attributable to the Webstacks and Optranet intangible assets and goodwill was less than their carrying value and thus we needed to record an impairment loss. The impairment loss was measured as the amount by which the carrying values of such assets exceeded their fair value. The fair value was calculated based on analyses of the discounted future cash flows for each of Webstacks and Optranet. In performing these analyses, we used the best information available under the circumstances, including reasonable and supportable assumptions and projections of future operating results. The discount rates used in the analyses were 20% for each of Webstacks and Optranet, which were based on historical risk premiums that investors required for companies of our size, industry and capital structure and included risk factors specific to the sectors in which the two companies operated. These amounts are based on our best estimate of future results. As a result of our analysis, we recorded a charge to reduce goodwill and purchased intangible assets by $89.8 million in the third quarter of fiscal 2002.

Amortization of Deferred Stock Compensation, Goodwill and Purchased Intangible Assets

Amortization of deferred stock compensation was $10.2 million in fiscal 2002, $4.1 million in fiscal 2001 and $0.1 million in fiscal 2000, representing an increase of $6.1 million in fiscal 2002 from fiscal 2001 and an increase of $4.0 million in fiscal 2001 from fiscal 2000. The amortization of deferred stock compensation relates primarily to options awarded to employees that were assumed in the Optranet and Webstacks acquisitions in fiscal 2001, primarily in research and development.

Amortization of goodwill and purchased intangible assets was $37.2 million in fiscal 2002, $33.4 million in fiscal 2001 and $6.7 million in fiscal 2000, representing an increase of $3.8 million in fiscal 2002 from fiscal 2001 and an increase of $26.7 million in fiscal 2001 from fiscal 2000. The increases in fiscal 2002 were due to the amortization related to the Optranet and Webstacks acquisitions in fiscal 2001. In fiscal 2001, amortization of goodwill arising from warrants issued in April 2000 increased by $20.4 million to $27.2 million and amortization of goodwill and purchased intangible assets related to the Optranet and Webstacks acquisitions was $5.5 million. See Note 3 of Notes to Consolidated Financial Statements.

We review our intangible assets for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. This review could result in a charge to earnings in the period any impairment is determined. Amortization of purchased intangible assets and deferred stock compensation may continue to increase if we acquire companies and technologies. We will no longer record amortization of goodwill in future periods because under Statement of Financial Accounting Standards (“SFAS”) No. 142, Goodwill and Other Intangible Assets, goodwill is not amortized, but rather is periodically evaluated for impairment. See “New Accounting Pronouncements.”

Restructuring and Special Charges

During the third quarter of fiscal 2002, we implemented a restructuring plan to lower our overall cost structure. Restructuring and special charges in fiscal 2002 included a charge related to the purchase of leased properties of $39.0 million, a write-off of excess facilities of $25.4 million and a write-off related to asset impairments of $9.1 million, as described below.

We incurred a $39.0 million charge in fiscal 2002 relating to two property leases we entered into in June 2000, as described in Note 4 of Notes to Financial Statements. Effective May 7, 2002, we exercised the option to purchase the leased properties for an aggregate of $77.0 million, which represented the residual value guarantee under the lease arrangement of $80.0 million, net of a $3.0 million improvement allowance. The appraised fair value of the land and buildings at the time of the option exercise was $38.0 million. Accordingly, we recognized a charge of $39.0 million. Upon completion of this transaction the purchased land and buildings were categorized as property and equipment on our balance sheet and the buildings are being depreciated over their estimated useful lives of 25 years.

Excess facilities charges for fiscal 2002 were $25.4 million. These costs are the result of our decision to permanently reduce the space occupied or to vacate certain domestic and international facilities. The estimated


Table of Contents facilities costs are based on current comparable rates for leases in the respective markets or estimated termination fees. The actual loss could differ from this estimate if we are unsuccessful in negotiating affordable termination fees on certain facilities, if facility operating lease rental rates continue to decrease in these markets, if it takes longer than expected to find a suitable tenant to sublease these facilities, or if other estimates and assumptions change. We anticipate that we will continue to make cash outlays to meet lease obligations for these facilities through 2011 unless estimates and assumptions change or we are able to negotiate to terminate the leases prior to 2011. The following is a summary of the excess facility charges (in millions):


Location Reduced / Vacated Amount
---------------- ------------------------------------------------ -------
Santa Clara, CA Reduced February 2001 $ 9.4
Pleasanton, CA Never occupied — facility relates to Optranet
acquisition 9.3
Pleasanton, CA Reduced March 2002 4.6
Others Various 2.1
-- ----
$ 25.4
-- ----


Asset impairments were $9.1 million for fiscal 2002. This charge represented the unamortized amount of the assets at the date a decision was made to discontinue use and these assets were not utilized subsequently and were not held for sale. See Note 9 of Notes to Consolidated Financial Statements.

In fiscal 2001, restructuring and special charges included a write-off of acquired in-process research and development of $30.2 million and a restructuring charge of $5.9 million, as described below.

We recorded in-process research and development charges of $13.4 million related to the purchase of Optranet in January 2001 and $16.8 million related to the purchase of Webstacks in March 2001. The value assigned to purchased in-process research and development was determined through valuation techniques generally used by appraisers in the high-technology industry and was immediately expensed in the period of acquisition because technological feasibility had not been established and no alternative use had been identified. The charges are discussed in detail in Note 3 of Notes to Consolidated Financial Statements.

In March 2001, we implemented a restructuring plan in order to lower our overall cost structure. In connection with the restructuring, we reduced our headcount and consolidated facilities. Restructuring charges included in other operating expenses were $3.8 million in the quarter ended March 31, 2001 and $2.1 million in the quarter ended June 30, 2001. The restructuring expense included $1.8 million for severance and benefits for approximately 100 terminated employees, $2.3 million for the write-off and write-down in carrying value of Summit equipment and $1.8 million in facility closure expenses. As of June 30, 2002, all liabilities related to the restructuring plan have been paid.

Interest Income

Interest income was $11.7 million in fiscal 2002, $15.5 million in fiscal 2001 and $14.6 million in fiscal 2000, representing a decrease of $3.8 million in fiscal 2002 from fiscal 2001 and an increase of $0.9 million in fiscal 2001 from fiscal 2000. The decrease in fiscal 2002 from fiscal 2001 was due to lower interest rates, offset by an increase in our available investment balances due to the net proceeds we received from the issuance of convertible subordinated notes in December 2001. The increase in fiscal 2001 from fiscal 2000 was due to the increased amount of cash and cash equivalents, short-term investments, restricted investments and marketable securities from the net proceeds we received from our initial public offering in April 1999 and our secondary public offering in October 1999.

Interest Expense

Interest expense was $4.5 million in fiscal 2002, $0.4 million in fiscal 2001 and $0.5 million in fiscal 2000, representing an increase of $4.1 million in fiscal 2002 from fiscal 2001 and a decrease of $0.1 million in fiscal


Table of Contents 2001 from fiscal 2000. The increase in fiscal 2002 from fiscal 2001 was due to interest expense on the convertible subordinated notes issued in December 2001.

Other Expense

Other expense was $11.1 million in fiscal 2002, $4.7 million in fiscal 2001 and $33,000 in fiscal 2000. The increase in fiscal 2002 from fiscal 2001 was primarily due to write-downs of investments in privately-held companies that are being accounted for under the cost method. The increase in fiscal 2001 from fiscal 2000 was primarily due to our share of losses from companies in which we had a minority interest which were accounted for under the equity method of accounting of $2.9 million and write-downs of investments accounted for under the cost method of accounting of $1.8 million.

Income Taxes

We recorded a tax benefit of $52.8 million for fiscal 2002. The benefit for fiscal 2002 results in an effective tax benefit rate of 22.3%, which consists primarily of federal and state income tax benefits offset by nondeductible goodwill. SFAS No. 109, Accounting for Income Taxes, provides for the recognition of deferred tax assets if realization of such assets is more likely than not. We evaluate the realizability of the deferred tax assets on a quarterly basis. We recorded a tax benefit of $22.7 million for fiscal 2001, which consisted primarily of federal and state income tax benefits, offset by foreign taxes, nondeductible in-process research and development and goodwill. We recorded a tax provision of $10.3 million for fiscal 2000, which consisted primarily of federal taxes, state income taxes and foreign taxes, offset by the recognition of deferred tax assets.

Liquidity and Capital Resources

Cash and cash equivalents and total investments were $400.1 million and $271.5 million at June 30, 2002 and 2001, respectively, representing an increase of $128.6 million. This increase was primarily due to the net proceeds of $193.5 million from the issuance of convertible subordinated notes in December 2001 and cash provided by operating activities of $20.5 million, offset by capital expenditures of $82.8 million and payments for acquisitions of $14.9 million.

We generated $20.5 million in cash from operations in fiscal 2002 despite a net loss of $184.0 million. The net loss included significant non-cash charges, offset somewhat by the effect of deferred taxes. The principal non-cash charges were for impairment of goodwill and purchased intangible assets of $89.8 million, restructuring and special charges of $73.1 million and depreciation and amortization of $68.6 million. Accounts receivable decreased from $63.2 million at June 30, 2001 to $51.3 million at June 30, 2002. Days sales outstanding in receivables decreased to 41 days at June 30, 2002 from 49 days at June 30, 2001. The decrease in accounts receivable and days sales outstanding were primarily due to shipment linearity and improved collections performance. Inventory levels decreased from $60.5 million at June 30, 2001 to $24.6 million at June 30, 2002. Inventory turns were 8.5 times for fiscal 2002 and 3.7 times for fiscal 2001. Inventory management remains an area of focus as we balance the need to maintain strategic inventory levels to ensure competitive lead times and avoid stock-outs with the risk of inventory excess or obsolescence because of recent dec

[rotty]

von rotty `help` 01.10.02 10:44:26
betrifft Aktie: EXTREME NETWORKS DL-,001
POSITVES zu Extreme Network extr/exm - Neuer umfangreicher Deal mit u.a. NORTEL - gestriges Abschluß-ASK bereits auf 4,6$:

---->
Das EXTR (Extreme Network) aufgrund des miesen Umfeldes in der Kommunikationsbranche auch Federn lassen mußte, war klar.
ABER Extr/Exm ist deutlich besser aufgestellt und hat gestern das Rennen um den großen Contract mit NORTEL (Deal-Abschluß auf breit aufgestellten internationalen Nivau, mit guten Aussichten auf entspr. Earnings)- gegenüber den Konkurrenten siw Sun u.A.
Vor Börsenschluß stieg das Papier um mehr als 9% (ebenfalls weiter nachbörslich) mit entspr. ASK auf gar 4,6$ an der Nas. Entsprechend dürfte heute die US-Eröffnung am Markt aussehen.

Ich stelle Euch hierzu jetzt die Deal-Meldung (orginal) mit NORTEL rein, damit Ihr Euch selbst ein Bild machen könnt, desgl. die äußerst umfangreiche Fundamentalanalysen von Schaeffer´s Midday Options & besonders von Item 7. Managements Discussion an Analysis of Financial Coditions an Results of Operations (detailiert und umfangreich):

----->
Nr. 1.:
NORTEL NETWORKS: Nortel Networks, Extreme Networks announce settlement


TORONTO, Sep 30, 2002 (M2 PRESSWIRE via COMTEX) -- Nortel Networks* Limited
[NYSE/TSX: NT] and Extreme Networks, Inc. [NASDAQ: EXTR] announced that they
have entered into a patent cross license agreement, the terms and conditions of
which are confidential. The pending lawsuit between Nortel Networks Limited,
Nortel Networks, Inc., the U.S. subsidiary of Nortel Networks Limited, and
Extreme Networks in the United States District Court for the District of
Massachusetts, Civil Action No. 01-10443, has been dismissed.

Extreme Networks provides the most effective applications and services
infrastructure by creating networks that are faster, less complex and more
cost-effective than conventional solutions. Headquartered in Santa Clara,
Calif., Extreme Networks sells its award-winning switching solutions in more
than 50 countries.

For more information, visit www.extremenetworks.com.

Nortel Networks is an industry leader and innovator focused on transforming how
the world communicates and exchanges information. The company is supplying its
service provider and enterprise customers with communications technology and
infrastructure to enable value-added IP data, voice and multimedia services
spanning Metro and Enterprise Networks, Wireless Networks and Optical Networks.
As a global company, Nortel Networks does business in more than 150 countries.

More information about Nortel Networks can be found on the Web at
www.nortelnetworks.com.

Certain information included in this press release is forward-looking and is
subject to important risks and uncertainties. The results or events predicted in
these statements may differ materially from actual results or events. Factors
which could cause results or events to differ from current expectations include,
among other things: the severity and duration of the industry adjustment; the
sufficiency of our restructuring activities, including the potential for higher
actual costs to be incurred in connection with restructuring actions compared to
the estimated costs of such actions; fluctuations in operating results and
general industry, economic and market conditions and growth rates; the ability
to recruit and retain qualified employees; fluctuations in cash flow, the level
of outstanding debt and debt ratings; the ability to meet financial covenants
contained in our credit agreements; the ability to make acquisitions and/or
integrate the operations and technologies of acquired businesses in an effective
manner; the impact of rapid technological and market change; the impact of price
and product competition; international growth and global economic conditions,
particularly in emerging markets and including interest rate and currency
exchange rate fluctuations; the impact of rationalization in the
telecommunications industry; the dependence on new product development; the
uncertainties of the Internet; the impact of the credit risks of our customers
and the impact of increased provision of customer financing and commitments;
stock market volatility; the entrance into an increased number of supply,
turnkey, and outsourcing contracts which contain delivery, installation, and
performance provisions, which, if not met, could result in the payment of
substantial penalties or liquidated damages; the ability to obtain timely,
adequate and reasonably priced component parts from suppliers and internal
manufacturing capacity; the future success of our strategic alliances; and the
adverse resolution of litigation. For additional information with respect to
certain of these and other factors, see the reports filed by Nortel Networks
Corporation and Nortel Networks Limited with the United States Securities and
Exchange Commission. Unless otherwise required by applicable securities laws,
Nortel Networks Corporation and Nortel Networks Limited disclaim any intention
or obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.

* Nortel Networks, the Nortel Networks logo and the Globemark are trademarks of
Nortel Networks.

CONTACT: David Chamberlin, Nortel Networks Tel: [phone] e-mail:
[e-mail]

M2 Communications Ltd disclaims all liability for information provided within M2
PressWIRE. Data supplied by named party/parties. Further information on M2
PressWIRE can be obtained at http://www.presswire.net on the world wide web.
Inquiries to [e-mail].


__________________________

Nr. 2:
Nortel Networks, Extreme Networks Announce Settlement


TORONTO, ONTARIO, Sep 30, 2002 (CCNMatthews via COMTEX) -- Nortel Networks
Limited (NYSE:NT) (TSX:NT.) and Extreme Networks, Inc. (Nasdaq: EXTR) today
announced that they have entered into a patent cross license agreement, the
terms and conditions of which are confidential. The pending lawsuit between
Nortel Networks Limited, Nortel Networks, Inc., the U.S. subsidiary of Nortel
Networks Limited, and Extreme Networks in the United States District Court for
the District of Massachusetts, Civil Action No. 01-10443, has been dismissed.

Extreme Networks provides the most effective applications and services
infrastructure by creating networks that are faster, less complex and more
cost-effective than conventional solutions. Headquartered in Santa Clara,
Calif., Extreme Networks sells its award-winning switching solutions in more
than 50 countries. For more information, visit www.extremenetworks.com.

Nortel Networks is an industry leader and innovator focused on transforming how
the world communicates and exchanges information. The company is supplying its
service provider and enterprise customers with communications technology and
infrastructure to enable value-added IP data, voice and multimedia services
spanning Metro and Enterprise Networks, Wireless Networks and Optical Networks.
As a global company, Nortel Networks does business in more than 150 countries.
More information about Nortel Networks can be found on the Web at
www.nortelnetworks.com.

Certain information included in this press release is forward-looking and is
subject to important risks and uncertainties. The results or events predicted in
these statements may differ materially from actual results or events. Factors
which could cause results or events to differ from current expectations include,
among other things: the severity and duration of the industry adjustment; the
sufficiency of our restructuring activities, including the potential for higher
actual costs to be incurred in connection with restructuring actions compared to
the estimated costs of such actions; fluctuations in operating results and
general industry, economic and market conditions and growth rates; the ability
to recruit and retain qualified employees; fluctuations in cash flow, the level
of outstanding debt and debt ratings; the ability to meet financial covenants
contained in our credit agreements; the ability to make acquisitions and/or
integrate the operations and technologies of acquired businesses in an effective
manner; the impact of rapid technological and market change; the impact of price
and product competition; international growth and global economic conditions,
particularly in emerging markets and including interest rate and currency
exchange rate fluctuations; the impact of rationalization in the
telecommunications industry; the dependence on new product development; the
uncertainties of the Internet; the impact of the credit risks of our customers
and the impact of increased provision of customer financing and commitments;
stock market volatility; the entrance into an increased number of supply,
turnkey, and outsourcing contracts which contain delivery, installation, and
performance provisions, which, if not met, could result in the payment of
substantial penalties or liquidated damages; the ability to obtain timely,
adequate and reasonably priced component parts from suppliers and internal
manufacturing capacity; the future success of our strategic alliances; and the
adverse resolution of litigation. For additional information with respect to
certain of these and other factors, see the reports filed by Nortel Networks
Corporation and Nortel Networks Limited with the United States Securities and
Exchange Commission. Unless otherwise required by applicable securities laws,
Nortel Networks Corporation and Nortel Networks Limited disclaim any intention
or obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.

Nortel Networks, the Nortel Networks logo and the Globemark are trademarks of
Nortel Networks.



CONTACT: Nortel Networks

Business media:

Tina Warren

[phone]

[e-mail]

or

Investors:

[phone]

[phone]

[e-mail]


________________________________

Nr. 3 Schaeffer´s....:
Schaeffer`s Midday Options Update Features EXTR


CINCINNATI, Sep 30, 2002 /PRNewswire via COMTEX/ -- Today`s Schaeffer`s Midday
Options Update features Extreme Networks (Nasdaq: EXTR). The Midday Options
Update contains a brief commentary on the day`s most notable activity and a
table listing the most active calls and puts for the day. The Midday Options
Update is published every day at www.SchaeffersResearch.com -- the home of
Bernie Schaeffer and Schaeffer`s Investment Research. For additional information
about this report or to have it delivered to you free via email every day click
on the following link: http://www.schaeffersresearch.com/addinfo" target="_blank" rel="nofollow ugc noopener">http://www.schaeffersresearch.com/addinfo .



(Photo: http://www.newscom.com/cgi-bin/prnh/20020725/SCHAEFFERLOGO )

Schaeffer`s Midday Options Update:

Weak economic news has sent the market lower for the last day of trading for the
quarter. The September Chicago Purchasing Managers Index fell to 48.1, reaching
the lowest level since January. This reading compares to August`s 54.9 reading
and the Street estimate at 53.3 percent. In addition, August personal income
rose 0.4 percent versus the Street estimate of 0.50 percent and personal
spending rose 0.3 percent compared to the consensus expectation for a
0.6-percent rise. Today`s losses have caused the Dow Jones to slip below its
July lows for the first time, joining the Nasdaq Composite, which fell below
those lows last week.

At 12:34 p.m. eastern time, the Dow Jones Industrial Average (INDU - 7555.2) and
the S&P 500 Index (SPX - 811.21) are down 1.90 and 1.95 percent, respectively.
The Nasdaq Composite (COMP - 1172.9) is lower by 2.19 percent. On the options
front, at 12:36 p.m., total equity call volume checked in at 831,984 while total
equity put volume numbered 781,280. The composite put/call ratio across all
exchanges is 0.94. Breaking out the numbers a bit further, the CBOE put/call
ratio is sitting at 0.91.

Extreme Networks (Nasdaq: EXTR) is seeing some heavy option volume at its March
5.00 call. More than 7,300 contracts have changed hands at this strike, which
had only 251 contracts in open interest prior to today`s activity. The majority
of this volume crossed the tape in a block of 7,350 contracts at a bid price of
0.75. If this were a straight put sell, the investor would collect a total
premium of $551,250. The seller of these contracts would then need the shares to
close above the five level by the March expiration for the contracts to expire
worthless, allowing him/her to retain the entire premium.

Sentiment toward the security is fairly mixed, with calls more than doubling
puts in the front three months of options. EXTR`s Schaeffer`s put/call open
interest ratio is lower than 59.2 percent of those taken over the past 52 weeks.
In addition, the number of EXTR shares sold short dropped 32 percent since July
to 7.6 million shares. At the equity`s average daily trading volume, all the
short positions can be covered in roughly three days. Wall Street is split on
the stock, as 11 analysts rate it a "buy" or better, 10 rate it a "hold," and
two rate the shares a "strong sell," according to Zacks.

The network infrastructure equipment provider warned this morning that it would
fall short of first-quarter earnings estimates. The company now expects to
report revenue of $100 million, or a loss of three cents per share. The Street
had been anticipating earnings of $115 million, or a profit of four cents per
share. EXTR cited the continued weak economy for the earnings shortfall. The
stock dropped to hit a new all-time low at 3.41 on the news, but has since
rebounded on heavy trading volume back up to the four level. The shares still
remain well below their declining 10-day moving average at the 5.80 level.

Click the following link to see the Daily Chart of EXTR since August 2002 with
10-Day Moving Average: http://www.schaeffersresearch.com/wire?ID=6264" target="_blank" rel="nofollow ugc noopener">http://www.schaeffersresearch.com/wire?ID=6264 .

The best way to take advantage of the timely Schaeffer commentaries is to sign
up to receive their free e-newsletters -- Opening View, Midday Report, Market
Recap and Monday Morning Outlook. Click here to have the Schaeffer`s
commentaries delivered to you free via email every day:
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About Schaeffer`s Investment Research ( www.SchaeffersResearch.com )

Schaeffer`s Investment Research, founded by Bernie Schaeffer in 1981, is a
diversified financial information and trading resources company with subscribers
in over 110 countries. It publishes Bernie Schaeffer`s Option Advisor, the
nation`s leading subscription newsletter devoted to options, as well as many
other educational, bulletin and alert services. The firm`s website,
www.SchaeffersResearch.com , is recognized as one of the leading information
sources for stock and options traders and was cited as the top options website
by both Forbes and Barron`s.

Contact: Tom Godich at Schaeffer`s, Phone: [phone]; Email:
[e-mail]



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SOURCE Schaeffer`s Investment Research



CONTACT: Tom Godich of Schaeffer`s Investment Research, [phone],

or [e-mail]

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KEYWORD: Ohio

INDUSTRY KEYWORD: FIN

PUB

SUBJECT CODE: INO
________________________________________

Nr. 4 Neue Ratings von StockPickReport.com:
StockPickReport.com Announces Stock Evaluation Ratings: New Ratings on CIENA Corp., Extreme Networks, AT&T Wireless Services, Texas Instruments, Johnson & Johnson


SHREVEPORT, La., Sep 30, 2002 (BUSINESS WIRE) -- StockPickReport.Com
(IARD#119079 - http://www.stockpickreport.com/?src=pz ) makes these stock
evaluations for the short term:



CIENA Corp. (Nasdaq: CIEN) - Underperform

Extreme Networks (Nasdaq: EXTR) - Outperform

AT&T Wireless Services (NYSE:AWE) - Outperform

Texas Instruments (NYSE:TXN) - Underperform

Johnson & Johnson (NYSE:JNJ) - Underperform

WHAT THESE RATINGS MEAN:

StockPickReport.Com ranks stocks with a proprietary unbiased system of technical
analysis. These ratings do not indicate a "long term" view of any company
listed. These are ratings that reflect our opinion of a stock`s PRICE movement
versus the SP 500 over the short term.

You can get a FREE trial at: http://www.stockpickreport.com/?src=pzb


_________________________________-


Nr. 5 Rsults Extr und Sonstige:
Extreme Networks Announces Preliminary First Quarter Results
9/30/02 3:01 AM
Source: PR Newswire

SANTA CLARA, Calif., Sept. 30 /PRNewswire-FirstCall/ -- Citing weak economic conditions, Extreme Networks, Inc. (Nasdaq: EXTR) today announced that it expects revenue for the first quarter ended Sept. 29, 2002 to be approximately $100 million, as compared to $113 million in revenue in the quarter ended June 30, 2002. Based on this revenue level, the Company expects to report a loss of approximately $0.03 to $0.04 per share for the quarter on a GAAP basis.

"With the strong focus on our core enterprise market, Extreme maintains its leadership position in building high-performance networks that offer organizations a significant return on investment with lower cost of ownership," said Gordon Stitt, CEO of Extreme Networks. "We have enhanced our distribution channel programs and service capabilities extending our reach around the world."

Extreme Networks has a cash balance of approximately $400 million and is generating positive cash flow from operations. For the quarter ended Sept. 29, 2002 the Company expects its book-to-bill ratio to be above 1.0 and its backlog to be within its normal range.

Extreme Networks will host a conference call to further discuss these preliminary results at 8:30 a.m. Eastern Time today. The conference call may include additional material information and investors are encouraged to attend or review the conference call on our website. To listen to the call, use either of the following web links: www.extremenetworks.com/aboutus/investor or www.shareholder.com/extr/medialist.cfm Additionally, the call can be accessed by dialing 888-245-7013, or 973-582-2767. Replay information will also be available at www.extremenetworks.com. Final results for the fiscal first quarter 2003 are scheduled to be released on October 16, 2002.

Extreme Networks, Inc.

Extreme Networks provides the most effective applications and services infrastructure by creating networks that are faster, less complex and more cost-effective than conventional solutions. Headquartered in Santa Clara, Calif., Extreme Networks sells it awarding-winning switching solutions in more than 50 countries. For more information, visit www.extremenetworks.com.

This announcement contains forward-looking statements that involve risks and uncertainties, including statements about expected quarterly results and plans to lower costs, and other statements that include the words "expect", "anticipate" or similar words. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including, changes that may result as we review and assess the actual quarterly results and the other risks that affect our business, including but not limited to: (i) our rapid growth and potential risks associated with this growth, and a limited operating history and limited history of profitability that make it more difficult to predict results; (ii) current economic trends in worldwide markets; (iii) fluctuations in demand for our products and services; (iv) a highly competitive business environment for network switching equipment; and (v) the possibility that we might experience delays in the development of new technology and products. More information about potential factors that could affect our business and financial results is included in our Annual Report on Form 10-K for the year ended June 30, 2001 and our Annual Report on Form 10-K for the fiscal year ended June 30, 2002, to be filed on the date of the press release, under the captions: "Management`s Discussion and Analysis of Financial Condition and Results of Operations," and "Risk Factors," which are on file with the Securities and Exchange Commission.


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SOURCE Extreme Networks, Inc.

+++++ Positives i.Zushg. mt Valdero (KOOPERATION Nr 2 neben Nortel):

Valdero`s Intelligent Supply Chain Control Selected By Extreme Networks
9/30/02 3:00 AM
Source: Business Wire

PALO ALTO, Calif.--(BUSINESS WIRE)--Sept. 30, 2002-- Network Equipment Provider Selects Valdero`s Latest Version -- 2.0 -- for Dynamic Supply Demand Matching and Collaboration, Enhanced Supply

Chain Execution

Valdero(TM) Corporation, the leader in Intelligent Supply Chain Control, today announced that Extreme Networks Inc. (Nasdaq: EXTR), a provider of award-winning switching solutions for global networks, has chosen Valdero 2.0 to enhance key relationships with suppliers and drive the overall performance of its manufacturing supply chain. Valdero 2.0, the latest version of its flagship application suite, bridges the gap between planning and execution in supply chain management, dramatically improving execution by providing real-time visibility and control over changes in collaborative supply chains.

With Valdero 2.0, Extreme Networks and other manufacturing companies can dramatically decrease process and inventory costs while improving performance across multi-tiered supply chains. Valdero 2.0 allows companies to realize significant cost savings in a matter of weeks by making it easy for them to continuously identify changes across the extended supply chain; analyze the business impact of those changes; receive guidance on appropriate responses; and act based on their approved procedures, business rules, trends and business objectives.

"The biggest issue enterprises face today is intelligent visibility of their supply chains-both upstream and down. Valdero addresses the demons of real-time visibility to improve execution for global manufacturers," said Ann Grackin, vice president supply chain strategies at AMR Research.

Addresses Business Pains with Visibility and Collaboration

Through Valdero`s new supply demand match engine and collaboration platform, Extreme will gain visibility across its global supply chain, allowing it to meet aggressive goals for customer service and operational excellence through continued improvement of its supply chain execution. "We are working to create a highly efficient and responsive supply chain that will strengthen the competitive advantage we`ve already established through superior products," said Diane Pewitt, Extreme Networks` vice president of operations. "By allowing easy access to changes across the entire supply chain, Valdero gives us the opportunity to dramatically reduce our inventory and process costs. And, by simplifying what used to be the most time-intensive part of managing our supply chain, Valdero enables us to raise the bar on other, more sophisticated elements, such as customer fulfillment and long-term supply positioning."

Changing Requirements for Supply Chain Control

Valdero is specifically designed for companies relying on collaborative supply chains to meet variable customer demand for their products. The complexity of managing multi-tiered supply chains with multiple partners means that these companies have limited visibility into remote operations, high latency in communicating changes in supply and demand, poor responsiveness to disruptions, and a high liability for poor execution. All of these problems result in high inventory costs, high liabilities and missed revenue opportunities.

"Valdero gives manufacturers and their supply chain partners a common platform for executing on key processes based on shared, real-time information and agreed-upon metrics, plans and performance thresholds," said S. Singh Mecker, Valdero`s president and CEO. "By offering true collaborative resolution, rather than simple information sharing, we`re allowing businesses to react quickly to changes and achieve closed-loop control over their supply chain performance."

About The Valdero Supply Chain Control Suite

The Valdero Supply Chain Control Suite comprises four applications

Inventory Control, Demand Control, Planning and Fulfillment Control, and Product Change Control -- that allow businesses to dramatically reduce inventory, production and process costs by giving them a single transparent view of the supply chain, proactive performance measurement, management by exception, continuous supply demand balancing and guided resolution.

About Valdero

Valdero Corporation (www.valdero.com) is the leading provider of enterprise-class software solutions for intelligent supply chain control. Valdero gives companies real-time visibility into and resolution of changes in collaborative supply chains. With Valdero, businesses can create high-velocity supply chains that are able to respond quickly and efficiently to constant variations in supply, product configuration and customer demand. Valdero has corporate headquarters in Palo Alto, Calif.

Valdero is a trademark of Valdero Corporation. All other brand, product, and company names used herein may be trademarks or registered trademarks of their respective owners.

--30--jb/sf* CONTACT: Valdero Corporation
Caroline Savoie, 650/404-2234
[e-mail]
or
B3 Communications
Bonnie Harris, 415/332-5816
[e-mail]

___________________________________-

Nr. 6 Item 7. Managements Discussion an Analysis of Financial Coditions an Results of Operations (detailiert und umfangreich):

EXTREME NETWORKS INC
Filed on Sep 30 2002

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
Critical Accounting Policies and Estimates

Our significant accounting policies are more fully described in Note 1 of Notes to Consolidated Financial Statements included in this Form 10-K. The preparation of our consolidated financial statements in accordance with generally accepted accounting principles requires us to make estimates and judgments that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the period reported. By their nature, these estimates and judgments are subject to an inherent degree of uncertainty. We base our estimates and judgments on historical experience, market trends, and other factors that are believed to be reasonable under the circumstances. Actual results may differ from these estimates under different assumptions or conditions. We believe the critical accounting policies stated below, among others, affect our more significant judgments and estimates used in the preparation of our consolidated financial statements.

Revenue Recognition

We derive the majority of our revenue from sales of our stackable and chassis-based networking equipment, with the remaining revenue generated from service fees relating to our products, including installation, maintenance and training. Our revenue recognition policy follows SEC Staff Accounting Bulletin (SAB) No. 101, Revenue Recognition in Financial Statements. We generally recognize product revenue from our end-user and reseller customers at the time of shipment, provided that persuasive evidence of an arrangement exists, the price is fixed or determinable and collectibility of sales proceeds is reasonably assured. When significant obligations remain after products are delivered, such as installation or customer acceptance, revenue and related costs are deferred until such obligations are fulfilled. Revenue from service obligations under maintenance contracts is deferred and recognized on a straight-line basis over the contractual period, which is typically 12 months.

We make certain sales to partners in two-tier distribution channels. The first tier consists of a limited number of independent distributors that sell primarily to resellers and, on occasion, to end-user customers. Under specified conditions, we grant the right to these distributors to return a portion of unsold inventory to us for the purpose of stock rotation. Therefore, we defer recognition of revenue on sales to distributors until the distributors sell the product, as evidenced by a monthly sales-out report that each distributor provides us. The second tier of the distribution channel consists of a large number of third-party resellers that sell directly to end-users and are not granted return privileges, except for defective products.

We provide an allowance for sales returns based on our historical returns, analysis of credit memo data and return policies which has been netted against net revenue in the accompanying consolidated statements of operations. If the historical data used by us to calculate the estimated sales returns and allowances does not properly reflect future returns, these estimates would have to be modified, thus resulting in an impact to net revenue.

Inventories

The networking industry is characterized by rapid technological change, frequent new product introductions, changes in customer requirements, and evolving industry standards. We perform a detailed assessment of


Table of Contents inventory at each balance sheet date, which includes a review of, among other factors, demand requirements, product lifecycle and product development plans and quality issues. Based on this analysis, we record adjustments, when appropriate, to reflect inventory at net realizable value. In recent quarters, demand for our products has been adversely affected by the downturn in the United States economy and reduced telecommunications and infrastructure capital spending. Although we make every effort to ensure the accuracy of our forecasts of product demand, any significant unanticipated changes in demand or technological developments would significantly impact the value of our inventory and our reported operating results. In the future, if we find that our estimates are too optimistic and we determine that our inventory needs to be written down, we will be required to recognize such costs in our cost of revenue at the time of such determination. Conversely, if we find our estimates are too pessimistic and we subsequently sell product that has previously been written down, our operating margin in that period will be unusually favorable.

Warranty Reserves

Networking products can contain undetected software or hardware errors when new products or new versions or updates of existing products are released to the marketplace. We have experienced such errors in connection with new products and product upgrades. Our hardware warranty period is typically 12 months from the date of shipment to the end user and 14 months from the date of shipment to channel partners. Upon shipment of products to our customers, including both end users and channel partners, we estimate expenses for the cost to repair or replace products that may be returned under warranty and accrue the amount as revenue is recognized. Our determination of our warranty requirements is based on our actual historical experience with the product or product family, the frequency of new product introductions and product upgrades anticipated during the period, an estimate of repair and replacement costs and any product warranty problems that are identified after shipment. We adjust these accruals at each balance sheet date in accordance with changes in these factors. While we believe that our warranty accrual is adequate and that the judgment applied in calculating this accrual is appropriate, the assumptions used are based on estimates and estimated amounts could differ materially from our actual warranty expenses in the future.

Allowance for Doubtful Accounts

We continually monitor and evaluate the collectibility of our trade receivables based on a combination of factors. We record specific allowances for bad debts in general and administrative expense when we become aware of a specific customer’s inability to meet its financial obligation to us, such as in the case of bankruptcy filings or deterioration of financial position. Estimates are used in determining our allowances for all other customers based on factors such as current trends in the length of time the receivables are past due and historical collection experience. We mitigate some collection risk by requiring most of our customers in the Asian region, excluding Japan, to secure letters of credit prior to placing an order with us. During the year ended June 30, 2002, we increased our allowance for doubtful accounts, reflecting the adverse economic conditions affecting our customer base. While we believe that our current allowance for doubtful accounts receivable is appropriate, a change in the financial condition of specific customers may result in further adjustment to our estimates of the recoverability of receivables.

Deferred Tax Asset Valuation Allowance

We recognize deferred tax assets and liabilities based on the differences between the financial statement carrying amounts and the tax bases of assets and liabilities. Significant management judgment is required in determining our deferred tax assets and liabilities and any valuation allowance recorded against our net deferred tax assets. We make an assessment of the likelihood that our deferred tax assets will be recovered from future taxable income, and to the extent that recovery is not believed to be likely, a valuation allowance is established. For fiscal 2002 and 2001, we did not record a valuation allowance to reduce our deferred tax assets because we believed the amount was more likely than not to be realized. In the event we are unable to realize some or all of the deferred tax assets in the future, an adjustment to the deferred tax assets will be charged to income in the period such determination is made.


Table of Contents

Purchase Commitments

Currently, we have strategic partnerships with three contract manufacturers for the manufacture of our products. Our agreements allow them to procure long lead-time component inventory on our behalf based upon a rolling production forecast provided by us. We are contractually obligated to the purchase of long lead-time component inventory that our contract manufacturers procure in accordance with the forecast, unless we give notice of order cancellation outside of applicable component leadtimes. As of June 30, 2002, we were committed to purchase approximately $1.0 million of such inventory over the next four months. If actual demand of our products is below these projections, we may have excess inventory as a result of our purchase commitments of long lead-time components with our contract manufacturers. As a consequence, we may then need to record a charge to cost of revenue to reflect the impact of such excess purchase commitments.

Legal Contingencies

We are currently involved in various claims and legal proceedings. Periodically, we review the status of each significant matter and assess our potential financial exposure. If the potential loss from any claim or legal proceeding is considered probable and the amount can be estimated, we accrue a liability for the estimated loss. Because of uncertainties related to these matters, accruals, if any, are based only on the most current and dependable information available at any given time. As additional information becomes available, we may reassess the potential liability from pending claims and litigation and the probability of claims being successfully asserted against us. As a result, we may revise our estimates related to these pending claims and litigation. Such revisions in the estimates of the potential liabilities could have a material impact on our consolidated results of operations, financial position and cash flows in the future. For further detail, see Note 4 of Notes to Consolidated Financial Statements for a description of legal proceedings.

First Quarter Fiscal 2003

On September 30, 2002, we announced that we expected revenue for the first quarter ended September 29, 2002 to be approximately $100 million. Based on this revenue level, we expect to report a loss of approximately $0.03 to $0.04 per share for the quarter on a GAAP basis.

Results of Operations

Net Revenue

Net revenue was $441.6 million in fiscal 2002, $491.2 million in fiscal 2001 and $262.0 million in fiscal 2000, representing a decrease of 10.1% in fiscal 2002 from fiscal 2001 and an increase of 87.5% in fiscal 2001 from fiscal 2000. The decrease in net revenue in fiscal 2002 compared to fiscal 2001 was primarily due to a decline in revenue in the United States, as our business was negatively impacted by the cautious purchasing behavior of customers in the difficult economic environment during fiscal 2002, offset in part by an increase in revenue from customers in Japan. The increase in net revenue for fiscal 2001 resulted primarily from a higher volume of sales due to an increase in market acceptance of our products.

Sales outside of the United States accounted for 67%, 57% and 44% of net revenue in fiscal 2002, fiscal 2001 and fiscal 2000, respectively. The decrease in United States sales in fiscal 2002 as a percentage of total sales was primarily attributable to reduced sales within the United States in the first half of 2002 as a result of the events of September 11, 2001. Sales within the United States in the second half of fiscal 2002 steadily increased as a percentage of total sales. We expect that export sales will continue to represent a significant portion of net revenue, although export sales may decline as a percentage of net revenue. All sales transactions are currently denominated in United States dollars.

During fiscal 2002, the United States economy experienced a rapid and increasingly severe downturn. This adversely affected our product demand and made it increasingly difficult to accurately forecast future production requirements. Our revenue for the first quarter of fiscal 2003 will be adversely affected by the continuing weakness and uncertainty in the economies of the United States and other industrialized countries. While we


Table of Contents expect this economic downturn to continue for the remainder of calendar year 2002, we cannot predict the extent, severity or length of this economic downturn in the United States or in the other geographic regions where we currently sell our products.

We expect to experience some erosion of average selling prices of our products due to a number of factors, including competitive pricing pressures, promotional pricing and rapid technological change. Our revenue is derived primarily from sales of our Summit, BlackDiamond and Alpine products and fees for services relating to our products, including installation maintenance and training. The level of sales to any customer may vary from period to period; however, we expect that significant customer concentration will continue for the foreseeable future. One customer, who is a distributor of our products, accounted for 15% and 16%, respectively, of our net revenue in fiscal 2002 and fiscal 2001. No customer accounted for more than 10% of our net revenue in fiscal 2000.

Cost of Revenue

Cost of revenue includes costs of raw materials, direct labor, manufacturing overhead and amounts paid to third-party contract manufacturers, and other costs related to warranty and contractual obligations. Net revenue less cost of revenue (gross profit) was $207.1 million in fiscal 2002, $210.0 million in fiscal 2001 and $135.0 million in fiscal 2000, representing a decrease of 1.4% in fiscal 2002 from fiscal 2001 and an increase of 55.5% in fiscal 2001 from fiscal 2000. The decrease in fiscal 2002 was primarily due to the related decrease in revenue, and the increase in fiscal 2001 was primarily due to an increase in revenue. Gross margin (gross profit as a percentage of net revenue) was 46.9% in fiscal 2002, 42.7% in fiscal 2001 and 51.6% in fiscal year 2000. The increase in gross margin in fiscal 2002 over fiscal 2001 resulted primarily from a shift in product mix and a decrease in the net charges related to contract manufacturers and other costs associated with the carrying value of inventory, including a benefit to cost of revenue in fiscal 2002 of $4.8 million relating to products sold that were written off in fiscal 2001. This increase in gross margin in fiscal 2002 over fiscal 2001 was adversely affected by a significant increase in warranty expense. During fiscal 2002 we experienced a higher than normal rate of warranty expense due to problems with various component parts within our products and our election, in some cases, to address those problems by replacing such products with new rather than refurbished replacements. We continued to experience higher than normal rates of warranty expense in the first quarter of fiscal 2003. We intend to reduce these expenses in the future, however our gross margin will continue to be adversely affected until we have completed the implementation of operational changes designed to reduce these expenses.

The decrease in gross margin in fiscal 2001 over fiscal 2000 was primarily due to a $40.3 million charge for excess and obsolete inventory, non-cancelable purchase commitments and warranty expenses.

Inventory purchases and commitments are based upon our forecast of future sales. To mitigate the component supply constraints that have existed in the past, we built inventory levels for certain components with long lead times and entered into long-term commitments for certain components. Due to a sudden and significant decrease in demand for our products that became apparent in the third quarter of fiscal 2001, inventory levels, including non-cancelable purchase commitments, exceeded our requirements based on our forecast of expected demand. This additional excess inventory charge was calculated based on the inventory levels in excess of our forecast of expected demand for each product. Based on our future demand forecast, we do not currently anticipate that the excess inventory subject to these provisions will be used at a later date. Furthermore, we may be required to take additional write-downs in the future related to excess inventory.

Our gross margin is variable and dependent on many factors, some of which are outside of our control. Some of the primary factors affecting gross margin include demand for our products, changes in our pricing policies and those of our competitors, and the mix of products sold. Our gross margin may be adversely affected by increases in material or labor costs, increases in warranty expense, heightened price competition, obsolescence charges and higher inventory balances. In addition, our gross margin may fluctuate due to the mix of distribution channels through which our products are sold, including the effects of our two-tier distribution model. Any significant decline in sales to our resellers, distributors or end-user customers, or the loss of any of our resellers, distributors or end-user customers could have a material adverse effect on our business, operating results and financial condition. In addition, an increase in distribution channels generally makes it more difficult to forecast the mix of products sold


Table of Contents and the timing of orders from our customers. New product introductions may result in excess or obsolete inventories, which may also reduce our gross margin. Furthermore, if product or related warranty costs associated with these new products are greater than we have experienced, gross margin may be adversely affected.

Cost of revenue includes the cost of our manufacturing overhead. We outsource the majority of our manufacturing and supply chain management operations, and we conduct quality assurance, manufacturing engineering, document control and repairs at our facility in Santa Clara, California. Accordingly, a significant portion of our cost of revenue consists of payments to our contract manufacturers: Flextronics International, Ltd., Plexus Corp. and Solectron Corporation. As part of our business relationship with MCMS, Inc., the predecessor-in-interest to Plexus Corp., in September 2000, we entered into a $9.0 million operating equipment lease for manufacturing equipment with a third-party financing company; we, in turn, subleased the equipment to MCMS. Due to the liquidity problems at MCMS and its voluntary bankruptcy filing for protection under Chapter 11 on September 18, 2001, we recorded a charge of $9.0 million related to the equipment lease in the first quarter of fiscal 2002. On January 8, 2002, MCMS completed an agreement to sell a majority of its assets to Plexus Corp. for $45.0 million.

We expect to realize lower per-unit product costs from our contract manufacturers as a result of volume efficiencies if and as volumes increase. However, we do not know if or when such price reductions will occur. The failure to obtain these price reductions could have a material adverse effect upon our gross margin and operating results.

Sales, Marketing and Service Expenses

Sales, marketing and service expenses consist of salaries, commissions and related expenses for personnel engaged in marketing, sales and customer support and service functions, as well as trade shows and promotional expenses. Sales, marketing and service expenses were $141.0 million in fiscal 2002, $154.6 million in fiscal 2001 and $67.1 million in fiscal 2000, representing a decrease of 8.8% in fiscal 2002 from fiscal 2001 and an increase of 130.2% in fiscal 2001 from fiscal 2000. The decrease in fiscal 2002 was primarily due to lower aggregate sales commissions and a reduction of approximately 80 people in our sales, marketing and support organization. As a percentage of net revenue, sales, marketing and service expenses increased to 31.9% in fiscal 2002 from 31.5% in fiscal 2001. This percentage increase was primarily the result of a decrease in our net revenue in fiscal 2002. As a percentage of net revenue, sales, marketing and service expenses increased to 31.5% in fiscal 2001, compared with 25.6% in fiscal 2000. This increase was primarily due to the hiring of additional sales, marketing and customer support personnel, increased sales commission expenses resulting from increased net revenue and increased promotional expenses. Service expenses were $23.1 million, $17.4 million and $5.6 million in fiscal 2002, 2001 and 2000, respectively. These increases were due to increased staffing and new programs for our distributors and resellers. The rate of future spending increases in our sales, marketing and service expenses, if any, will depend on the pace of recovery in the market for networking products.

Research and Development Expenses

Research and development expenses consist principally of salaries and related personnel expenses, consultant fees and prototype expenses related to the design, development, testing and enhancement of our products. Research and development expenses were $61.5 million in fiscal 2002, $57.9 million in fiscal 2001 and $33.0 million in fiscal 2000, representing an increase of 6.2% in fiscal 2002 from fiscal 2001 and an increase of 75.4% in fiscal 2001 from fiscal 2000. These increases were primarily due to higher payroll and related personnel expenses associated with the addition of new personnel, partly through acquisitions, to support our multiple product development efforts as well as non-recurring engineering charges and prototype costs. As a percentage of net revenue, research and development expenses increased to 13.9% in fiscal 2002 from 11.8% in fiscal 2001. This percentage increase was primarily the result of a decrease in our net revenue in fiscal 2002. As a percentage of revenue, research and development expenses decreased to 11.8% in fiscal 2001 from 12.6% in fiscal 2000. This percentage decrease was primarily the result of an increase in our net revenue in fiscal 2001. We expense all research and development expenses as incurred. We believe that continued investment in research and development is critical to attaining our strategic objectives.


Table of Contents General and Administrative Expenses

General and administrative expenses consist primarily of salaries and related expenses for executive, finance and administrative personnel, professional fees and other general corporate expenses. General and administrative expenses were $26.9 million in fiscal 2002, $25.8 million in fiscal 2001 and $11.9 million in fiscal 2000, representing an increase of 4.3% in fiscal 2002 from fiscal 2001 and an increase of 116.8% in fiscal 2001 from fiscal 2000. The increase in fiscal 2002 was due primarily to increased professional fees and directors and officers insurance premiums. From fiscal 2001 to fiscal 2002, general and administrative expenses increased as a percentage of net revenue to 6.1% in fiscal 2002 from 5.2% in fiscal 2001 and 4.5% in fiscal 2000. The percentage increase in fiscal 2002 from fiscal 2001 was primarily the result of a decrease in our net revenue. The percentage increase in fiscal 2001 from fiscal 2000 was due primarily to an increase in bad debt expense, the hiring of additional finance, information technology, legal and administrative personnel and increased professional fees. The rate of any future spending increases in our general and administrative expenses, if any, will depend on the pace of recovery in the market for networking products.

Impairment of Acquired Intangible Assets

In the third quarter of fiscal 2002, we recorded in operating expenses asset impairment charges totaling $89.8 million against certain acquired intangible assets and goodwill. The acquired intangible assets and goodwill that were impaired originated primarily from the acquisitions of Optranet in January 2001 and Webstacks in March 2001.

Optranet’s products were originally targeted at the building local exchange carrier, or BLEC, and multi-tenant unit, or MTU, markets. It was believed that, by incorporating Optranet’s technology into our Alpine product family, we would be able to expand our presence in customer networks and give metropolitan service providers an advanced Ethernet service-provisioning platform for Ethernet access over several transport systems. We believed we would be able to exploit the synergies and growth opportunities of Optranet’s in-process products due to their complementary nature to our strategy and compatibility with our products. However, following the acquisition date, demand for Optranet’s products fell sharply, as the majority of Optranet’s targeted customers either entered into bankruptcy or dissolved. Based on industry analysis, the BLEC and MTU markets are not expected to recover in the next few years, and in the event that a recovery eventually occurs, BLEC and MTU service providers may likely require different solutions. As of the impairment valuation date of March 31, 2002, the Optranet products were repositioned to address the remote and branch office access needs of enterprise customers. However, this secondary market has also slowed due to decreased information technology spending and has largely been addressed by competing products based on legacy technologies.

Webstacks’ products were originally targeted at the e-business and hosting facility markets. We acquired Webstacks in an effort to expand our IP services to provide robust Layer 4 ~ Layer 7 switching solutions required for building high-performance content-aware networks. We believed that we would be able to exploit the growth opportunities of Webstacks’ products by complementing our Layer 3 product focus with high-end Layer 4 ~ Layer 7 networking devices. However, demand for higher-cost Layer 4 ~ Layer 7 switches in these markets did not materialize, largely due to worsening economic conditions. E-business customers continued to rely on slower speed networking devices and host facilities have not yet grown to a scale that necessitates data transfer at gigabit speeds. As of the impairment valuation date of March 31, 2002, the Webstacks products were repositioned to address enterprise data center needs, including security products. Although this market has slowed since the acquisition date, based on industry analysis, we believe there continues to be potential for moderate growth in this market.

Based on the foregoing impairment factors, we worked with valuation experts to perform asset impairment tests at the lowest operational level that had separately identifiable cash flows related to the Webstacks and Optranet intangible assets and goodwill. The tests were performed by comparing the expected undiscounted cash flows over 57-month periods for each of Webstacks and Optranet to the carrying amount of the long-lived assets


Table of Contents resulting from the acquisitions. We found that the sum of the undiscounted cash flows attributable to the Webstacks and Optranet intangible assets and goodwill was less than their carrying value and thus we needed to record an impairment loss. The impairment loss was measured as the amount by which the carrying values of such assets exceeded their fair value. The fair value was calculated based on analyses of the discounted future cash flows for each of Webstacks and Optranet. In performing these analyses, we used the best information available under the circumstances, including reasonable and supportable assumptions and projections of future operating results. The discount rates used in the analyses were 20% for each of Webstacks and Optranet, which were based on historical risk premiums that investors required for companies of our size, industry and capital structure and included risk factors specific to the sectors in which the two companies operated. These amounts are based on our best estimate of future results. As a result of our analysis, we recorded a charge to reduce goodwill and purchased intangible assets by $89.8 million in the third quarter of fiscal 2002.

Amortization of Deferred Stock Compensation, Goodwill and Purchased Intangible Assets

Amortization of deferred stock compensation was $10.2 million in fiscal 2002, $4.1 million in fiscal 2001 and $0.1 million in fiscal 2000, representing an increase of $6.1 million in fiscal 2002 from fiscal 2001 and an increase of $4.0 million in fiscal 2001 from fiscal 2000. The amortization of deferred stock compensation relates primarily to options awarded to employees that were assumed in the Optranet and Webstacks acquisitions in fiscal 2001, primarily in research and development.

Amortization of goodwill and purchased intangible assets was $37.2 million in fiscal 2002, $33.4 million in fiscal 2001 and $6.7 million in fiscal 2000, representing an increase of $3.8 million in fiscal 2002 from fiscal 2001 and an increase of $26.7 million in fiscal 2001 from fiscal 2000. The increases in fiscal 2002 were due to the amortization related to the Optranet and Webstacks acquisitions in fiscal 2001. In fiscal 2001, amortization of goodwill arising from warrants issued in April 2000 increased by $20.4 million to $27.2 million and amortization of goodwill and purchased intangible assets related to the Optranet and Webstacks acquisitions was $5.5 million. See Note 3 of Notes to Consolidated Financial Statements.

We review our intangible assets for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. This review could result in a charge to earnings in the period any impairment is determined. Amortization of purchased intangible assets and deferred stock compensation may continue to increase if we acquire companies and technologies. We will no longer record amortization of goodwill in future periods because under Statement of Financial Accounting Standards (“SFAS”) No. 142, Goodwill and Other Intangible Assets, goodwill is not amortized, but rather is periodically evaluated for impairment. See “New Accounting Pronouncements.”

Restructuring and Special Charges

During the third quarter of fiscal 2002, we implemented a restructuring plan to lower our overall cost structure. Restructuring and special charges in fiscal 2002 included a charge related to the purchase of leased properties of $39.0 million, a write-off of excess facilities of $25.4 million and a write-off related to asset impairments of $9.1 million, as described below.

We incurred a $39.0 million charge in fiscal 2002 relating to two property leases we entered into in June 2000, as described in Note 4 of Notes to Financial Statements. Effective May 7, 2002, we exercised the option to purchase the leased properties for an aggregate of $77.0 million, which represented the residual value guarantee under the lease arrangement of $80.0 million, net of a $3.0 million improvement allowance. The appraised fair value of the land and buildings at the time of the option exercise was $38.0 million. Accordingly, we recognized a charge of $39.0 million. Upon completion of this transaction the purchased land and buildings were categorized as property and equipment on our balance sheet and the buildings are being depreciated over their estimated useful lives of 25 years.

Excess facilities charges for fiscal 2002 were $25.4 million. These costs are the result of our decision to permanently reduce the space occupied or to vacate certain domestic and international facilities. The estimated


Table of Contents facilities costs are based on current comparable rates for leases in the respective markets or estimated termination fees. The actual loss could differ from this estimate if we are unsuccessful in negotiating affordable termination fees on certain facilities, if facility operating lease rental rates continue to decrease in these markets, if it takes longer than expected to find a suitable tenant to sublease these facilities, or if other estimates and assumptions change. We anticipate that we will continue to make cash outlays to meet lease obligations for these facilities through 2011 unless estimates and assumptions change or we are able to negotiate to terminate the leases prior to 2011. The following is a summary of the excess facility charges (in millions):


Location Reduced / Vacated Amount
---------------- ------------------------------------------------ -------
Santa Clara, CA Reduced February 2001 $ 9.4
Pleasanton, CA Never occupied — facility relates to Optranet
acquisition 9.3
Pleasanton, CA Reduced March 2002 4.6
Others Various 2.1
-- ----
$ 25.4
-- ----


Asset impairments were $9.1 million for fiscal 2002. This charge represented the unamortized amount of the assets at the date a decision was made to discontinue use and these assets were not utilized subsequently and were not held for sale. See Note 9 of Notes to Consolidated Financial Statements.

In fiscal 2001, restructuring and special charges included a write-off of acquired in-process research and development of $30.2 million and a restructuring charge of $5.9 million, as described below.

We recorded in-process research and development charges of $13.4 million related to the purchase of Optranet in January 2001 and $16.8 million related to the purchase of Webstacks in March 2001. The value assigned to purchased in-process research and development was determined through valuation techniques generally used by appraisers in the high-technology industry and was immediately expensed in the period of acquisition because technological feasibility had not been established and no alternative use had been identified. The charges are discussed in detail in Note 3 of Notes to Consolidated Financial Statements.

In March 2001, we implemented a restructuring plan in order to lower our overall cost structure. In connection with the restructuring, we reduced our headcount and consolidated facilities. Restructuring charges included in other operating expenses were $3.8 million in the quarter ended March 31, 2001 and $2.1 million in the quarter ended June 30, 2001. The restructuring expense included $1.8 million for severance and benefits for approximately 100 terminated employees, $2.3 million for the write-off and write-down in carrying value of Summit equipment and $1.8 million in facility closure expenses. As of June 30, 2002, all liabilities related to the restructuring plan have been paid.

Interest Income

Interest income was $11.7 million in fiscal 2002, $15.5 million in fiscal 2001 and $14.6 million in fiscal 2000, representing a decrease of $3.8 million in fiscal 2002 from fiscal 2001 and an increase of $0.9 million in fiscal 2001 from fiscal 2000. The decrease in fiscal 2002 from fiscal 2001 was due to lower interest rates, offset by an increase in our available investment balances due to the net proceeds we received from the issuance of convertible subordinated notes in December 2001. The increase in fiscal 2001 from fiscal 2000 was due to the increased amount of cash and cash equivalents, short-term investments, restricted investments and marketable securities from the net proceeds we received from our initial public offering in April 1999 and our secondary public offering in October 1999.

Interest Expense

Interest expense was $4.5 million in fiscal 2002, $0.4 million in fiscal 2001 and $0.5 million in fiscal 2000, representing an increase of $4.1 million in fiscal 2002 from fiscal 2001 and a decrease of $0.1 million in fiscal


Table of Contents 2001 from fiscal 2000. The increase in fiscal 2002 from fiscal 2001 was due to interest expense on the convertible subordinated notes issued in December 2001.

Other Expense

Other expense was $11.1 million in fiscal 2002, $4.7 million in fiscal 2001 and $33,000 in fiscal 2000. The increase in fiscal 2002 from fiscal 2001 was primarily due to write-downs of investments in privately-held companies that are being accounted for under the cost method. The increase in fiscal 2001 from fiscal 2000 was primarily due to our share of losses from companies in which we had a minority interest which were accounted for under the equity method of accounting of $2.9 million and write-downs of investments accounted for under the cost method of accounting of $1.8 million.

Income Taxes

We recorded a tax benefit of $52.8 million for fiscal 2002. The benefit for fiscal 2002 results in an effective tax benefit rate of 22.3%, which consists primarily of federal and state income tax benefits offset by nondeductible goodwill. SFAS No. 109, Accounting for Income Taxes, provides for the recognition of deferred tax assets if realization of such assets is more likely than not. We evaluate the realizability of the deferred tax assets on a quarterly basis. We recorded a tax benefit of $22.7 million for fiscal 2001, which consisted primarily of federal and state income tax benefits, offset by foreign taxes, nondeductible in-process research and development and goodwill. We recorded a tax provision of $10.3 million for fiscal 2000, which consisted primarily of federal taxes, state income taxes and foreign taxes, offset by the recognition of deferred tax assets.

Liquidity and Capital Resources

Cash and cash equivalents and total investments were $400.1 million and $271.5 million at June 30, 2002 and 2001, respectively, representing an increase of $128.6 million. This increase was primarily due to the net proceeds of $193.5 million from the issuance of convertible subordinated notes in December 2001 and cash provided by operating activities of $20.5 million, offset by capital expenditures of $82.8 million and payments for acquisitions of $14.9 million.

We generated $20.5 million in cash from operations in fiscal 2002 despite a net loss of $184.0 million. The net loss included significant non-cash charges, offset somewhat by the effect of deferred taxes. The principal non-cash charges were for impairment of goodwill and purchased intangible assets of $89.8 million, restructuring and special charges of $73.1 million and depreciation and amortization of $68.6 million. Accounts receivable decreased from $63.2 million at June 30, 2001 to $51.3 million at June 30, 2002. Days sales outstanding in receivables decreased to 41 days at June 30, 2002 from 49 days at June 30, 2001. The decrease in accounts receivable and days sales outstanding were primarily due to shipment linearity and improved collections performance. Inventory levels decreased from $60.5 million at June 30, 2001 to $24.6 million at June 30, 2002. Inventory turns were 8.5 times for fiscal 2002 and 3.7 times for fiscal 2001. Inventory management remains an area of focus as we balance the need to maintain strategic inventory levels to ensure competitive lead times and avoid stock-outs with the risk of inventory excess or obsolescence because of recent dec

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NEUES -Positives- von Extreme Network:


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Human Genome Research Center Selects Extreme Networks` High Performance Switching to Fuel Crucial Scientific Discoveries


SANTA CLARA, Calif., Oct 2, 2002 /PRNewswire-FirstCall via COMTEX/ -- The
Wellcome Trust Sanger Institute, one of the world`s premier gene sequencing
centers, has implemented an advanced Ethernet network from Extreme Networks,
Inc. (Nasdaq: EXTR) to gain more computing performance for vital research in the
areas of genomics and disease. Sanger Institute is handling massive amounts of
data with Extreme Networks` switching platforms that deliver more functionality,
higher bandwidth and genuine simplicity.

The Sanger Institute is dedicated understanding genomes. Through large-scale
analysis and focused research in the areas of cancer and disease causing
organisms, its programs underpin biological and medical research worldwide. The
Human Genome Project will move on into functional and comparative genomics in
the years ahead. To support the increasing and often unpredictable volumes of
data that this intensive research generates, the Sanger Institute has migrated
from its legacy ATM network infrastructure to Extreme Networks` Gigabit Ethernet
technology. This results in greatly increased scalability with advanced Quality
of Service (QoS) to manage traffic and provide the necessary foundation for
high-speed data storage.

The new network is being installed by networking specialist Telindus, an Extreme
Networks Solutions Partner, and will consist of Extreme Networks`
BlackDiamond(R) core switching platform and its Summit(R)5i edge switches. These
multi-layer switching platforms provide higher density to support more
connections with wire-speed switching and operate on a consistent and powerful
software foundation, ExtremeWare(R). This results in a simple to manage network
that supports leading-edge features and routing protocols, the best network
infrastructure available for demanding applications and higher throughput.

"Over the next five years, as our research moves into comparative and functional
genomics, we will likely generate some 60 to 70 terabytes of data per year and
we require a highly scalable network to accomplish this," said Phil Butcher,
head of IT for the Sanger Institute. "Due to the unpredictable nature of the
research, we need a system that handles the variable levels of data on the
network without limitations. Each stage in our quest to bring benefit from the
publicly available genome sequences is a huge challenge to us and our sponsors
the Wellcome Trust -- to bring benefit to humankind from the sequence of our
genome, of our shared Book of Life, we have to deploy scalable and flexible
systems as rapidly and as seamlessly as possible."

"Telindus has a longstanding relationship with The Wellcome Trust Sanger
Institute and we are delighted to be able to support them with state-of-the-art
network technology as they pioneer medical research at the leading-edge of
contemporary science," said Paul Browne, senior manager for Telindus.

Extreme Networks has a strong reputation as a networking infrastructure provider
to research centers throughout Europe. The Sanger Institute joins customers such
as Southampton University, Dublin Institute of Technology and the European
Center for Medium Range Weather Forecasts.

"World class research centers such as the Sanger Institute push the limits of
their network infrastructure and require a wealth of performance," said Duncan
Potter, vice president of marketing for Extreme Networks. "Sanger Institute
demonstrates how to implement our leading network platforms for applications
that require much more bandwidth, faster storage and reliance on high-layer
switching capabilities. Extreme`s ability to meet all of these needs and deliver
a very simple to maintain network spells out how our high performance network
solutions deliver superior value."

The Sanger Institute

The Wellcome Trust Sanger Institute is one of the leading genomics centers in
the world, dedicated to analysing and understanding genomes. The Sanger
Institute`s programs underpin biological and medical research worldwide.
Formerly the Sanger Center, the Wellcome Trust Sanger Institute was founded in
1993 by the Wellcome Trust and the UK Medical Research Council (MRC).

Extreme Networks, Inc.

Extreme Networks, Inc., delivers the most effective applications and services
infrastructure by creating networks that are faster, simpler and more
cost-effective. Headquartered in Santa Clara, Calif., Extreme Networks markets
its network switching solutions in more than 50 countries. For more information,
visit www.extremenetworks.com.

NOTE: Extreme Networks, ExtremeWare, BlackDiamond and Summit are registered
trademarks of Extreme Networks, Inc. in the United States and other countries.



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http://tbutton.prnewswire.com/prn/11690X41977415

SOURCE Extreme Networks, Inc.



CONTACT: Greg Cross of Extreme Networks Public Relations,

[phone], or [e-mail]



URL: http://www.extremenetworks.com

http://www.prnewswire.com


Copyright (C) 2002 PR Newswire. All rights reserved.

[rotty]

EXTREME NETWORK - NEUE RATINGS:

`help` - zu Eurer Information: ich/wir haben die Redaktion angeschrieben, daß die endlich mal wieder ihre "Hausaufgaben" u.a. bzgl. dieses Wertes machen und werde für Euch hier letztmals die neuesten Informationen reinstellen. Sollte sich an der Qualität der `Datenpflege` nichts änderen weicht nach LYCOS oder freerealtime aus!

EXTR fällt und fällt zwar momentan, daß einem hier Angst werden könnte - aber wie gesagt es sind hier die Shorties dran. Es ist aber jetzt abzusehen, wann dieser Wert für die ausgereitzt sein dürfte.
Ich/wir haben Euch in den letzten Tagen umfangreiche NEUE fundamentale Informationen reingestellt, so daß man sich hier ein objektives Bild machen kann, zumal die Auftragslage bei EXTR aufgrund neuer Deals und Abkommen, resp. der Entscheidung von tragenden Firmen die Produkte von Extr zu verwenden, sehr gut ist.
GANZ KLAR: Extr momentan auch vom Bärenmarkt des Fallens mitbetroffen, ist bei diesem Kurzniveau mit/unter 3,50 $ VOLLKOMMEN UNTEBEWERTET und fundamental ist dieser Kurs mit nichts begründet. Ein angemessene Bewertung -unter Berücksichtigung des mom. Börsenumfeldes- liegt unter Berücksichtigung der neuen Zahlen und Aussichten zwischen 4,80 bis 6,00 $ mit Aussichten/Ziel konservativ auf mindestens 7,00 §.

Dies ergeben auch die Einschätzungen der NEUESTEN RATINGS (Einstufung der Analystenhäuser), die ich hier Euch wiedergebe = HÖHERSTUFUNG auf "Buy bis STRONG BUY":
---->

NEEDHAM & CO

Extreme Networks "strong buy" Datum: 02.10.2002


Rating-Update: Die Analysten von Needham & Co. stufen die Aktien von Extreme Networks mit "strong buy" ein. Das Kursziel sehe man bei 14 USD. (WKN 920402)




Quelle: AKTIENCHECK.DE AG


WEDBUSH MORGAN

Extreme Networks "buy" Datum: 01.10.2002


Rating-Update: Die Analysten von Wedbush Morgan stufen die Aktien von Extreme Networks mit "buy" ein. Das Kursziel sehe man bei 7 USD. (WKN 920402)




Quelle: AKTIENCHECK.DE AG



HINWEIS: Merrill Lynch hatte noch vor paar Tagen (30.09.02) EXTR von buy auf neutral herabgestuft und mit dieses Kursdiaster ausgelöst und zwar OHNE eine vernünftig fundamentale Begründung mitzuliefern, ANDERE -s. oben- sehen dies zwischenzeitlich anders. Es ist daher dringend anzuraten sich hier breit zu informieren. Hier nochmals sein Rating vom 01.10.02 (beruhend auf 30.09.02 =ALT):

MERRILL LYNCH

Extreme Networks neutral Datum: 01.10.2002


Rating-Update: Die Analysten von Merrill Lynch reduzieren das Rating für die Aktien von Extreme Networks von "buy" auf "neutral". (WKN 920402)




Quelle: AKTIENCHECK.DE AG



FAZIT (rechtsunverbindlich):
Es ist anzuraten hier jetzt durchzuhalten und keinesweges bei dies `Ausverkaufskursen` zu verkaufen. Eher könnte man, wenn tatsächlich die 2,00$-Marke nach unten durchstoßen wir massiv nachkaufen. Ich/wir sind hier der unverbindlichen Meinung, daß bei Extr bei den nächsten nachhaltigen Anstieg im Börsenumfeld dann mit einem MASSIVEN Ansteigen des Kurses zu rechnen sein wird (auf o.g. Wert gem. Angaben) - Viele die raus sind, werden dann massiv wieder rein gehen, um vermeintliche Verluste wieder reinzufahren. Dies dürfte aber, wenn der Zug angefahren ist, nicht ganz ohne Risiko sein - zumal hier dann mit Übertreibungen nach oben zu rechnen ist. - Fest steht, daß Extr momentan vollkommen unterbewertet ist und hier ein enormes `Aufholpotential` schlummert (aber wie gesagt, man sollte o.g. Einschätzungen und Rating sich hier gut vor Augen halten und entspr. mit stopp-buy/-loss arbeiten - und lieber den Spatz in der Hand pflegen, zumind. solange das Börsenumfeld noch so ist!). ANMERKUNG: die Erwartungen werden mit Auslaufen der `Ergebniszeitmeldungen` nach unserer unverbindlichen Einschätzung eintreffen, d.h. die Börse wird bekanntermaßen spätestens mit/nach dem 19.10.02 "DREHEN" (wenn der `verrückt-gewordene` Bush mit seiner schon "krankhaften" Kriegstreiberrei keinen Strich durch Rechnung macht....) .... Ansonsten


herzlichst Euer `help`

[panik]

Reuters Business Report
Bargain Hunters Lift Cisco`s Shares
Wednesday October 9, 3:19 pm ET


SAN FRANCISCO (Reuters) - Shares of Cisco Systems Inc. (NasdaqNM:CSCO - News) rose more than 9 percent on Wednesday as investors rushed to buy the battered shares of the No. 1 maker of gear for directing Internet traffic, analysts said.
ADVERTISEMENT


Cisco shares, which had fallen for the previous five consecutive trading session, bounced higher on Wednesday, gaining 82 cents, or 9.6 percent, to $9.43 as bargain hunters came out in force, said Merrill Lynch analyst Sam Wilson.

Cisco shares were the most heavily traded stock on the Nasdaq on Wednesday with more than 132 million shares traded, a surge of more than 75 percent compared with the average trading volume over the past three months.

"People probably saw Cisco was oversold yesterday," said Erik Suppiger, an analyst with Pacific Growth Equities. "It`s reached a level that is fairly attractive."

Cisco shares on Tuesday closed down 5.3 percent at $8.60 after hitting an almost five-year low on fears the company would miss its forecast of flat to rising revenue in its current quarter.

San Jose, California-based Cisco in August forecast fiscal first-quarter revenue would be flat to up in the "very low single-digit growth" range from fourth-quarter sales of $4.8 billion.

The company has not changed its revenue outlook, but has acknowledged that customers are having difficulty predicting their business going forward.

Investors have grown concerned the slump in the telecom sector is spreading to large corporations outside telecom, also known as enterprise customers, which account for about 80 percent of Cisco`s sales with the rest coming from telecom.

Bear Stearns on Tuesday cut estimates for Cisco, citing weak revenue in all major regions.

By contrast, Needham & Co. analyst Tad LaFountain issued a research note on Wednesday stressing that Cisco`s revenue challenges were offset by its cash flow, a share repurchase program expanded by $5 billion and $21 billion in cash and equivalents.

LaFountain upgraded Cisco to a "strong buy" from "buy," citing the decline in the share price.

Smaller rivals benefited from Wednesday`s renewed interest in Cisco, said Suppiger, noting they often trade in sympathy with the stock of the industry leader.

Shares of Extreme Networks Inc. (NasdaqNM:EXTR - News) jumped 53 cents, or 21.8 percent, to $2.96 after closing down 15.3 percent at $2.43 on Tuesday.

Shares of Foundry Networks Inc. (NasdaqNM:FDRY - News) rose 48 cents, or 10.8 percent, to $4.92, after dropping 15.6 percent to close at $4.44 on Tuesday.

[panik]

Extreme Networks Reports Q1 FY`03 Earnings
Net Revenue $101M; GAAP Loss Per Share $0.04
Wednesday October 16, 4:06 pm ET


SANTA CLARA, Calif., Oct. 16 /PRNewswire-FirstCall/ -- Extreme Networks, Inc., (Nasdaq: EXTR - News), a leader in Ethernet broadband networking solutions, today announced financial results for the first fiscal quarter ended Sept. 30, 2002.
Net revenue for the first quarter of fiscal 2003 was $100.6 million, compared to $108.3 million for the first quarter of fiscal 2002. On a pro forma basis, Extreme Networks had a loss of $3.1 million or $0.03 per share for the first quarter of fiscal 2003, compared with breakeven performance for the same period last year. All per share amounts are computed on a diluted basis.

Net loss for the first quarter on a GAAP basis, which includes charges for amortization of deferred compensation, was $4.7 million or $0.04 per share, compared to a loss $36 million or $0.32 per share for the first quarter of fiscal 2002. (See financial tables for reconciliation of GAAP and pro forma results.)

"To maintain our market leadership position, we continue to focus on providing our customers with superior technology and services," said Gordon Stitt, president and CEO of Extreme Networks. "Our message of reducing total cost of ownership resonates well with customers, particularly in this environment. And, we continue to generate positive cash flow from operations and are taking steps to restore profitability in the near future."

Conference Call

Extreme Networks will host a conference call to discuss these results at 2 p.m. PT, for more information visit http://www.extremenetworks.com/aboutus/investor/

Extreme Networks, Inc.

Extreme Networks delivers the most effective applications and services infrastructure by creating networks that are faster, simpler and more cost- effective. Headquartered in Santa Clara, Calif., Extreme Networks markets its network switching solutions in more than 50 countries. For more information, visit www.extremenetworks.com

Extreme Networks is a trademark of Extreme Networks, Inc., in the United States and other countries.

This announcement contains forward-looking statements that involve risks and uncertainties, including statements about achieving our strategic and financial goals, and other statements that include "expect," "anticipate" or words of similar intent. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including, but not limited to: (i) a limited operating history and limited history of profitability that make it more difficult to predict results; (ii) current economic trends in worldwide geographic markets; (iii) fluctuations in demand for our products and services; (iv) a highly competitive business environment for network switching equipment; (v) the possibility that we might experience delays in the development of new technology and products, and (vi) a dependency on third parties for certain components and for the manufacturing of our products. More information about potential factors that could affect our business and financial results is included in our Annual Report on Form 10-K for the year ended June 30, 2002, including, without limitation, under the captions: "Management`s Discussion and Analysis of Financial Condition and Results of Operations," and "Risk Factors," which is on file with the Securities and Exchange Commission (http://www.sec.gov).

Table A
EXTREME NETWORKS, INC.
GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per-share amounts)
(Unaudited)

Three Months Ended
September 30, September 30,
2002 2001

Net revenue $ 100,569 $ 108,289

Cost and expenses:
Cost of revenue 51,499 83,312
Sales, marketing and service 33,253 36,985
Research and development 14,509 16,411
General and administrative 6,935 8,113
Amortization of deferred stock compensation 2,001 2,873
Amortization of goodwill and purchased
intangible assets -- 11,853
Total costs and expenses 108,197 159,547

Operating loss (7,628) (51,258)

Other income (expense), net 880 (3,578)

Loss before income taxes (6,748) (54,836)

Benefit for income taxes (2,017) (18,828)

Net loss $(4,731) $(36,008)


Net loss per share - basic and diluted $(0.04) $(0.32)

Shares used in per share calculation
- basic and diluted 114,420 111,953


Table B
EXTREME NETWORKS, INC.
PRO FORMA CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (i)
(In thousands, except per-share amounts)
(Unaudited)

Three Months Ended
September 30, September 30,
2002 2001

Net revenue $ 100,569 $ 108,289

Cost and expenses:
Cost of revenue 51,499 51,862
Sales, marketing and service 33,253 36,985
Research and development 14,509 16,411
General and administrative 6,935 5,413
Total costs and expenses 106,196 110,671
Operating loss (5,627) (2,382)
Other income, net 880 2,422
Income (loss) before income taxes (4,747) 40
Provision (benefit) for income taxes (1,661) 14
Net income (loss) $(3,086) $26
Net income (loss) per share
- basic and diluted $(0.03) $0.00

Shares used in per share calculation
- basic and diluted 114,420 111,953



(i) This statement of operations information for the three month periods ended September 30, 2001 and 2002 is for illustrative purposes only and is not prepared in accordance with generally accepted accounting principles. The following table reconciles our GAAP net loss from Table A to our pro forma net income (loss) in Table B:
Three Months Ended
September 30, September 30,
2002 2001

GAAP net loss $(4,731) $ (36,008)

Pro forma adjustments:
Charges related to contract
manufacturers and other costs
associated with carrying value of inventory -- 31,450
Amortization of deferred stock compensation 2,001 2,873
Amortization of goodwill
and purchased intangible assets -- 11,853
Restructuring and special charges -- 8,700
Income tax benefit (356) (18,842)
Pro forma net income (loss) $(3,086) $26


EXTREME NETWORKS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)

September 30, June 30,
2002 2002
Assets
Current assets:
Cash, cash equivalents and investments $223,134 $236,497
Accounts receivable, net 39,755 51,344
Inventories, net 34,198 24,627
Deferred taxes 42,890 42,882
Other current assets 10,835 13,126
Total current assets 350,812 368,476

Property and equipment, net 97,907 99,551
Marketable securities 185,593 163,560
Goodwill and purchased
intangible assets, net 1,021 1,021
Deferred taxes 92,875 90,617
Other assets 12,252 12,526
Total assets $740,460 $735,751


Liabilities and stockholders` equity

Current liabilities:
Accounts payable $ 35,951 $ 29,215
Deferred revenue 45,187 40,772
Accrued warranty 12,104 9,055
Other accrued liabilities 58,038 67,479
Total current liabilities 151,280 146,521

Convertible subordinated notes
and long-term deposit 200,272 200,272

Total stockholders` equity 388,908 388,958

Total liabilities and stockholders` equity $740,460 $735,751


EXTREME NETWORKS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)

Three Months Ended
September 30, September 30,
2002 2001

Operating activities:
Net loss $(4,731) $(36,008)
Adjustments to reconcile net loss
to net cash provided by operating activities:
Depreciation 8,652 7,747
Amortization of goodwill
and purchased intangible assets -- 11,852
Provision for doubtful accounts -- 2,700
Provision for inventory -- 5,000
Deferred income taxes (2,266) (19,857)
Amortization of deferred stock compensation 2,001 2,873
Write-down of investments -- 6,000
Compensation expense
for options granted to consultants -- 210
Changes in operating assets and liabilities:
Accounts receivable 11,589 8,434
Inventories (9,571) 3,945
Other current and noncurrent assets 2,565 1,604
Accounts payable 6,736 14,340
Deferred revenue 4,415 5,323
Accrued warranty 3,049 3,236
Accrued liabilities (9,441) 253
Net cash provided by operating activities 12,998 17,652

Investing activities:
Capital expenditures (7,008) (8,462)
Purchases and maturities of investments 4,347 22,558
Net cash provided by
(used in) investing activities (2,661) 14,096

Financing activities:
Proceeds from issuance of common stock 1,942 3,864
Net cash provided by financing activities 1,942 3,864

Net increase in cash and cash equivalents 12,279 35,612
Cash and cash equivalents
at beginning of period 71,830 87,722
Cash and cash equivalents at end of period $84,109 $123,334

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--------------------------------------------------------------------------------
Source: Extreme Networks, Inc.

[panik]

Extreme Networks Reports Q1 FY`03 Earnings
Net Revenue $101M; GAAP Loss Per Share $0.04
Wednesday October 16, 4:06 pm ET


SANTA CLARA, Calif., Oct. 16 /PRNewswire-FirstCall/ -- Extreme Networks, Inc., (Nasdaq: EXTR - News), a leader in Ethernet broadband networking solutions, today announced financial results for the first fiscal quarter ended Sept. 30, 2002.
Net revenue for the first quarter of fiscal 2003 was $100.6 million, compared to $108.3 million for the first quarter of fiscal 2002. On a pro forma basis, Extreme Networks had a loss of $3.1 million or $0.03 per share for the first quarter of fiscal 2003, compared with breakeven performance for the same period last year. All per share amounts are computed on a diluted basis.

Net loss for the first quarter on a GAAP basis, which includes charges for amortization of deferred compensation, was $4.7 million or $0.04 per share, compared to a loss $36 million or $0.32 per share for the first quarter of fiscal 2002. (See financial tables for reconciliation of GAAP and pro forma results.)

"To maintain our market leadership position, we continue to focus on providing our customers with superior technology and services," said Gordon Stitt, president and CEO of Extreme Networks. "Our message of reducing total cost of ownership resonates well with customers, particularly in this environment. And, we continue to generate positive cash flow from operations and are taking steps to restore profitability in the near future."

Conference Call

Extreme Networks will host a conference call to discuss these results at 2 p.m. PT, for more information visit http://www.extremenetworks.com/aboutus/investor/

Extreme Networks, Inc.

Extreme Networks delivers the most effective applications and services infrastructure by creating networks that are faster, simpler and more cost- effective. Headquartered in Santa Clara, Calif., Extreme Networks markets its network switching solutions in more than 50 countries. For more information, visit www.extremenetworks.com

Extreme Networks is a trademark of Extreme Networks, Inc., in the United States and other countries.

This announcement contains forward-looking statements that involve risks and uncertainties, including statements about achieving our strategic and financial goals, and other statements that include "expect," "anticipate" or words of similar intent. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including, but not limited to: (i) a limited operating history and limited history of profitability that make it more difficult to predict results; (ii) current economic trends in worldwide geographic markets; (iii) fluctuations in demand for our products and services; (iv) a highly competitive business environment for network switching equipment; (v) the possibility that we might experience delays in the development of new technology and products, and (vi) a dependency on third parties for certain components and for the manufacturing of our products. More information about potential factors that could affect our business and financial results is included in our Annual Report on Form 10-K for the year ended June 30, 2002, including, without limitation, under the captions: "Management`s Discussion and Analysis of Financial Condition and Results of Operations," and "Risk Factors," which is on file with the Securities and Exchange Commission (http://www.sec.gov).

Table A
EXTREME NETWORKS, INC.
GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per-share amounts)
(Unaudited)

Three Months Ended
September 30, September 30,
2002 2001

Net revenue $ 100,569 $ 108,289

Cost and expenses:
Cost of revenue 51,499 83,312
Sales, marketing and service 33,253 36,985
Research and development 14,509 16,411
General and administrative 6,935 8,113
Amortization of deferred stock compensation 2,001 2,873
Amortization of goodwill and purchased
intangible assets -- 11,853
Total costs and expenses 108,197 159,547

Operating loss (7,628) (51,258)

Other income (expense), net 880 (3,578)

Loss before income taxes (6,748) (54,836)

Benefit for income taxes (2,017) (18,828)

Net loss $(4,731) $(36,008)


Net loss per share - basic and diluted $(0.04) $(0.32)

Shares used in per share calculation
- basic and diluted 114,420 111,953


Table B
EXTREME NETWORKS, INC.
PRO FORMA CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (i)
(In thousands, except per-share amounts)
(Unaudited)

Three Months Ended
September 30, September 30,
2002 2001

Net revenue $ 100,569 $ 108,289

Cost and expenses:
Cost of revenue 51,499 51,862
Sales, marketing and service 33,253 36,985
Research and development 14,509 16,411
General and administrative 6,935 5,413
Total costs and expenses 106,196 110,671
Operating loss (5,627) (2,382)
Other income, net 880 2,422
Income (loss) before income taxes (4,747) 40
Provision (benefit) for income taxes (1,661) 14
Net income (loss) $(3,086) $26
Net income (loss) per share
- basic and diluted $(0.03) $0.00

Shares used in per share calculation
- basic and diluted 114,420 111,953



(i) This statement of operations information for the three month periods ended September 30, 2001 and 2002 is for illustrative purposes only and is not prepared in accordance with generally accepted accounting principles. The following table reconciles our GAAP net loss from Table A to our pro forma net income (loss) in Table B:
Three Months Ended
September 30, September 30,
2002 2001

GAAP net loss $(4,731) $ (36,008)

Pro forma adjustments:
Charges related to contract
manufacturers and other costs
associated with carrying value of inventory -- 31,450
Amortization of deferred stock compensation 2,001 2,873
Amortization of goodwill
and purchased intangible assets -- 11,853
Restructuring and special charges -- 8,700
Income tax benefit (356) (18,842)
Pro forma net income (loss) $(3,086) $26


EXTREME NETWORKS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)

September 30, June 30,
2002 2002
Assets
Current assets:
Cash, cash equivalents and investments $223,134 $236,497
Accounts receivable, net 39,755 51,344
Inventories, net 34,198 24,627
Deferred taxes 42,890 42,882
Other current assets 10,835 13,126
Total current assets 350,812 368,476

Property and equipment, net 97,907 99,551
Marketable securities 185,593 163,560
Goodwill and purchased
intangible assets, net 1,021 1,021
Deferred taxes 92,875 90,617
Other assets 12,252 12,526
Total assets $740,460 $735,751


Liabilities and stockholders` equity

Current liabilities:
Accounts payable $ 35,951 $ 29,215
Deferred revenue 45,187 40,772
Accrued warranty 12,104 9,055
Other accrued liabilities 58,038 67,479
Total current liabilities 151,280 146,521

Convertible subordinated notes
and long-term deposit 200,272 200,272

Total stockholders` equity 388,908 388,958

Total liabilities and stockholders` equity $740,460 $735,751


EXTREME NETWORKS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)

Three Months Ended
September 30, September 30,
2002 2001

Operating activities:
Net loss $(4,731) $(36,008)
Adjustments to reconcile net loss
to net cash provided by operating activities:
Depreciation 8,652 7,747
Amortization of goodwill
and purchased intangible assets -- 11,852
Provision for doubtful accounts -- 2,700
Provision for inventory -- 5,000
Deferred income taxes (2,266) (19,857)
Amortization of deferred stock compensation 2,001 2,873
Write-down of investments -- 6,000
Compensation expense
for options granted to consultants -- 210
Changes in operating assets and liabilities:
Accounts receivable 11,589 8,434
Inventories (9,571) 3,945
Other current and noncurrent assets 2,565 1,604
Accounts payable 6,736 14,340
Deferred revenue 4,415 5,323
Accrued warranty 3,049 3,236
Accrued liabilities (9,441) 253
Net cash provided by operating activities 12,998 17,652

Investing activities:
Capital expenditures (7,008) (8,462)
Purchases and maturities of investments 4,347 22,558
Net cash provided by
(used in) investing activities (2,661) 14,096

Financing activities:
Proceeds from issuance of common stock 1,942 3,864
Net cash provided by financing activities 1,942 3,864

Net increase in cash and cash equivalents 12,279 35,612
Cash and cash equivalents
at beginning of period 71,830 87,722
Cash and cash equivalents at end of period $84,109 $123,334

Make Your Opinion Count - Click Here




--------------------------------------------------------------------------------
Source: Extreme Networks, Inc.

[panik]

Finland`s Leading Local IP Network Built on Extreme Networks
Tuesday November 5, 7:40 am ET


SANTA CLARA, Calif., Nov. 5 /PRNewswire-FirstCall/ -- One of Finland`s largest local area IP networks has been built on Extreme Networks` (Nasdaq: EXTR - News) scalable and simplified Ethernet switching infrastructure. The Student Housing Foundation of Helsinki (HOAS) network features Extreme Networks` multi-layer Ethernet switching platforms at the core and edge, with design and implementation from Sonera, a value-added-reseller of Extreme Networks` products and services. HOASnet provides broadband Internet access for the apartments of more than fifteen thousand students in the municipalities of Helsinki, Espoo and Vantaa.
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HOASnet is built to support both the educational research needs and the personal use of students. It delivers prioritized broadband services at speeds of 256 kbps, where large files and e-mail can easily be downloaded from the Internet. Now in operation, HOASnet is a comprehensive network solution planned from the perspective of the student, using reserved bandwidth to deliver consistent and smooth access. The network has been set-up with the vision for future fee-based services supporting both video and voice applications.

"The HOASnet is effectively a large-city network, so the project included the utilization of both a fiber-optic network and supporting ADSL infrastructure to extend connectivity to thousands of users," said Jari Hakalin, director, Sonera Entrum. "One of the critical factors to our success was the simple, highly scalable and functional Ethernet foundation delivered by Extreme Networks. As a result, we were able to complete the project in a matter of months, when previously a project of this scope has taken much longer to finish."

Extreme Networks` Alpine(TM) modular switching solutions are used in the core of the HOASnet and its Summit® fixed switching platforms have been deployed at the edge of the network to ensure that necessary service levels are met and that end-users are satisfied.

"This project is another important achievement for Extreme Networks, demonstrating the ability of our solutions to improve the network experience of thousands of users by delivering a powerful and simple-to-manage IP network infrastructure," said Duncan Potter, vice president of marketing for Extreme Networks. "A key factor to the HOASnet project was Sonera`s expertise in designing and implementing a comprehensive LAN solution where traffic is effectively prioritized to create the best experience for the subscriber."

Sonera Corporation

Sonera Corporation (HEX: SRA; Nasdaq: SNRA) is a leading provider of mobile and advanced telecommunications services. Sonera is growing as an operator, as well as a provider of transaction and content services in Finland and in selected international markets. The company also offers advanced data solutions to businesses, and fixed network voice services in Finland and neighboring markets. In 2001, Sonera`s revenues totalled EUR 2.2 billion, and profit before extraordinary items and taxes was EUR 0.45 billion. Sonera employs about 7,400 people. www.sonera.com.

Extreme Networks, Inc.

Extreme Networks provides the most effective applications and services infrastructure by creating networks that are faster, less complex and more cost-effective than conventional solutions. Headquartered in Santa Clara, California, USA, Extreme Networks sells it awarding-winning switching solutions in more than 50 countries. For more information, visit www.extremenetworks.com

NOTE: Extreme Networks and Summit are registered trademarks of Extreme Networks, Inc. and Alpine is a trademark of Extreme Networks, Inc. in the United States and other countries.

Make Your Opinion Count - Click Here




--------------------------------------------------------------------------------
Source: Extreme Networks, Inc.

[panik]

Nissan Australia Unites Campus with Advanced Ethernet Connectivity From Extreme Networks
Thursday November 14, 7:31 am ET
Migration to Extreme`s Market-Leading Switching Technology Readies Top Automaker to Build Network Foundation for Business Applications and Convergence


SANTA CLARA, Calif., Nov. 14 /PRNewswire-FirstCall/ -- Nissan Australia, one of that country`s premier automotive importers, has implemented Extreme Networks, Inc.`s (Nasdaq: EXTR - News) market-leading Ethernet switching solutions to support its multi-building campus and prepare for converged applications. With an Extreme Networks infrastructure, Nissan minimizes the need to continuously purchase costly upgrades to build a network today that can manage such applications as video and voice services. Extreme Networks` advanced Layer 3 switching with its award-winning Quality of Service (QoS) ensures the high performance and reliability needed for these robust applications.
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"Our implementation certainly tests the depth of network technology, and Extreme Networks has delivered with necessary levels of product reliability, performance and informed customer support that we desired throughout the upgrade process," said Michael Carydias, National Manager of Technical Services at Nissan Australia. "With Extreme`s help, we`ve gained an Ethernet platform with the bandwidth and functionality that betters our operations and limits the resources we have to spend on maintaining the network."

With Extreme Networks BlackDiamond® modular switch at the core of the network and its Summit48si® edge switching solution, Nissan Australia connects its offices, warehouses and different facilities over a unified network where consistent switching performance is key to improved efficiency. Mainframe computers supporting document-imaging applications, corporate e-mail and resource intensive ERP applications enhance office communications and worker productivity.

With the use of Extreme Networks` standards-based VRRP routing technology, Nissan gains redundant data routing with fast failover for increased resiliency and fault tolerance. OSPF technology provides a reliable and redundant link to Nissan`s WAN connection.

"Corporations are being challenged with building an infrastructure that can accommodate the many applications being implemented both today and tomorrow," said Duncan Potter, vice president of marketing for Extreme Networks. "Extreme offers a proven solution that stands apart from the rest by ensuring that the money spent now allows for a network that can perform as a multi-service infrastructure."

Extreme Networks, Inc.

Extreme Networks provides the most effective applications and services infrastructure by creating networks that are faster, less complex and more cost-effective than conventional solutions. Headquartered in Santa Clara, Calif., Extreme Networks sells it awarding-winning switching solutions in more than 50 countries. For more information, visit www.extremenetworks.com.

NOTE: Extreme Networks, BlackDiamond and Summit are registered trademarks of Extreme Networks, Inc. in the United States and other countries.

Make Your Opinion Count - Click Here




--------------------------------------------------------------------------------
Source: Extreme Networks, Inc.

[panik]

9:38AM Extreme Networks losing share to Cisco (EXTR) 5.15 +0.40: Sources telling us Salomon Smith Barney is commenting on latest Dell`Oro data, notes that EXTR has lost share to CSCO.

[panik]

Reuters
Networking Stocks Up on Foundry Outlook
Thursday January 9, 1:04 pm ET
By Ben Klayman


CHICAGO (Reuters) - Positive news on two small networking equipment makers this week drove up the entire sector on Thursday, as investors bet that the industry slowdown was bottoming out, analysts and investors said.
ADVERTISEMENT


The American Stock Exchange Network index (AMEX:^NWX - News) was up 5.2 percent in midday trading thanks to good news on Foundry Networks Inc. (NasdaqNM:FDRY - News) and Extreme Networks Inc. (NasdaqNM:EXTR - News) which cited growing demand by corporate customers, also called the enterprise sector.

"There`s at least some sense that there`s a bottom," said Ken Smith, portfolio manager with asset management firm Munder Capital Management.

Nevertheless, Smith still worries that the March quarter will be weak, as it historically is.

Sanford C. Bernstein analyst Paul Sagawa said the good news was driving the strong stock performance, but that could just as easily be wiped out by bad news on Friday.

"We`ve been on this roller coaster for the last couple of months," he said. "People can`t decide. The economic news of the day has tended to whip us around. Today`s Foundry. Tomorrow it will be something else."

Foundry was up 18.5 percent and Extreme was up 6 percent on Nasdaq. Other networking stocks that rose included Juniper Networks Inc. (NasdaqNM:JNPR - News), up 11.1 percent on Nasdaq; Lucent Technologies Inc. (NYSE:LU - News), up 6.5 percent on the New York Stock Exchange; Tellabs Inc. (NasdaqNM:TLAB - News), up 5.1 percent on Nasdaq; Ciena Corp. (NasdaqNM:CIEN - News), up 5.8 percent on Nasdaq; and Cisco Systems Inc. (NasdaqNM:CSCO - News), up 3.8 percent on Nasdaq.

Foundry after the close of trading on Wednesday said it expected to top fourth-quarter sales forecasts thanks to strong enterprise sales of its switches and routers. The day before, analysts said Extreme`s enterprise business rose 2 percent and the overall decline in sales was not as weak as feared.

Prudential Securities analyst Inder Singh said it was too early to call an end to the downturn.

"The acid test will be Cisco because it`s reporting in three weeks," he said. "That will show whether the momentum is extending into the first quarter. At the very minimum, it would suggest a bottoming-out process."

William Gorman, an analyst with investment advisor PNC Advisors, was more skeptical.

"A lot of it is probably just some short-term momentum buying," he said. "I just don`t see a lot of cause for huge increases in earnings estimates for a lot of these companies."

[suparitchie]

Hallo,
warum ist EXTR heute so schwach? Der Markt geht nach oben und EXTR nicht.

[@Alle]

Extreme Networks Reports Q3 FY`03 Financial Results
Monday April 7, 6:42 am ET


SANTA CLARA, Calif., April 7 /PRNewswire-FirstCall/ -- Extreme Networks, Inc. (Nasdaq: EXTR - News), a leader in Ethernet broadband networking solutions, today announced financial results for the third fiscal quarter ended March 30, 2003.
Net revenue for the third quarter of fiscal 2003 was $85.2 million, compared to $90.2 million for the second quarter of fiscal 2003. Including deferred compensation totaling $1.6 million, the Company reported a net loss of $7.6 million or $.07 per share for the third quarter of fiscal 2003, compared to a net loss of $19.7 million or $0.17 per share for the second quarter of fiscal 2003, which included special charges and deferred compensation totaling $28.6 million.

"We are at the front end of an exciting major technology and product introduction cycle that greatly strengthens our market position by enabling us to offer a robust portfolio of end-to-end switching solutions that provide customers with the features they require -- high performance, unmatched reliability and the lowest total cost of ownership," said Gordon Stitt, president and CEO of Extreme Networks. "With our announcement that we are already shipping our third-generation chipset technology, called Triumph, we are three months ahead of schedule. (See two press releases from Extreme Networks, April 7, 2003, Extreme Networks Unveils Next-Generation Gigabit Ethernet for BlackDiamond Switch, and New Triumph Chipset Delivers Groundbreaking Performance and Functionality.)

Conference Call

Extreme Networks will host a conference call to discuss these results at 8:30 a.m. EDT (5:30 a.m. PDT), for more information visit http://www.extremenetworks.com/aboutus/investor/

Extreme Networks, Inc.

Extreme Networks delivers the most effective applications and services infrastructure by creating networks that are faster, simpler and more cost-effective. Headquartered in Santa Clara, Calif., Extreme Networks markets its network switching solutions in more than 50 countries. For more information, visit www.extremenetworks.com

NOTE: Extreme Networks is a registered trademark and Triumph is a trademark of Extreme Networks, Inc., in the United States and other countries.

This announcement contains forward-looking statements that involve risks and uncertainties, including statements about our new technology and product introduction cycles. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including, but not limited to: (i) a limited operating history and limited history of profitability that make it more difficult to predict results; (ii) current economic trends in worldwide geographic markets; (iii) the effectiveness of our cost reduction efforts; (iv) fluctuations in demand for our products and services; (iv) a highly competitive business environment for network switching equipment; (v) the possibility that we might experience delays in the development of new technology and products; (vi) customer response to our new technology and product; and (vii) a dependency on third parties for certain components and for the manufacturing of our products. More information about potential factors that could affect our business and financial results is included in our Annual Report on Form 10-K for the year ended June 30, 2002, including, without limitation, under the captions: "Management`s Discussion and Analysis of Financial Condition and Results of Operations," and "Risk Factors," which is on file with the Securities and Exchange Commission (http://www.sec.gov ).

EXTREME NETWORKS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per-share amounts)
(Unaudited)

Three Months Ended Nine Months Ended
March 31, March 31, March 31, March 31,
2003 2002 2003 2002

Net revenue $ 85,213 $ 111,132 $275,998 $328,487

Costs and expenses:
Cost of revenue 46,469 47,219 142,894 181,981
Sales, marketing
and service 29,830 34,281 93,480 106,969
Research and
development 13,749 15,396 41,676 46,411
General and
administrative 6,328 6,294 19,992 20,381
Impairment of
goodwill and purchased
intangible assets -- 89,752 -- 89,752
Amortization of deferred

stock compensation 1,564 2,437 5,348 7,965
Amortization of goodwill -- 11,468 -- 33,478
Amortization of purchased
intangible assets -- 1,218 -- 3,641
Restructuring charge -- 73,570 14,187 73,570
Property and
equipment write-off -- -- 12,678 --
Total costs and
expenses 97,940 281,635 330,255 564,148

Operating loss (12,727) (170,503) (54,257) (235,661)

Other income
(expense), net 990 (2,856) 2,860 (4,733)

Loss before
income taxes (11,737) (173,359) (51,397) (240,394)

Benefit for
income taxes (4,105) (33,560) (19,295) (53,935)

Net loss $(7,632) $(139,799) $(32,102) $(186,459)


Net loss per share -
basic and diluted $(0.07) $(1.23) $(0.28) $(1.66)


Shares used in per share
calculation - basic
and diluted 115,501 113,281 114,913 112,368


EXTREME NETWORKS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)

March 31, June 30,
2003 2002
Assets
Current assets:
Cash, cash equivalents and investments $160,228 $236,497
Accounts receivable, net 18,650 51,344
Inventories, net 23,994 24,627
Deferred income taxes 42,905 42,882
Other current assets 18,806 13,126
Total current assets 264,583 368,476

Property and equipment, net 78,391 99,551
Marketable securities 247,122 163,560
Deferred income taxes 109,979 90,617
Other assets 14,652 13,547

Total assets $714,727 $735,751

Liabilities and stockholders` equity
Current liabilities:
Accounts payable $23,232 $29,215
Deferred revenue 47,495 40,772
Accrued warranty 10,173 9,055
Other accrued liabilities 42,780 47,583
Total current liabilities 123,680 126,625

Convertible subordinated notes
and other long-term deposit 222,875 220,168

Total stockholders` equity 368,172 388,958

Total liabilities and stockholders` equity $ 714,727 $ 735,751


EXTREME NETWORKS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)

Nine Months Ended
March 31, March 31,
2003 2002

Cash flows from operating activities:
Net loss $(32,102) $(186,459)
Adjustments to reconcile net loss to
net cash provided by operating activities:
Depreciation 20,227 23,644
Amortization of goodwill and
purchased intangible assets -- 37,119
Impairment of acquired intangible assets -- 89,752
Provision for doubtful accounts -- 2,700
Deferred income taxes (19,385) (55,077)
Restructuring charge and property and
equipment write-off 26,865 73,095
Amortization of deferred stock compensation 5,348 7,965
Write-down of investments -- 9,657
Compensation expense for options
granted to consultants -- 630
Changes in operating assets and liabilities:
Accounts receivable 32,694 4,746
Inventories 633 24,640
Other current and noncurrent assets (6,785) (3,751)
Accounts payable (5,983) 850
Deferred revenue 6,723 15,875
Accrued warranty 1,118 6,044
Other accrued liabilities (14,390) (929)
Net cash provided by operating activities 14,963 50,501

Cash flows from investing activities:
Capital expenditures (13,638) (30,337)
Purchases and maturities of investments, net (37,803) (94,149)
Acquisition of business -- (14,920)
Net cash used in investing activities (51,441) (139,406)

Cash flows from financing activities:
Proceeds from issuance of common stock 4,365 8,904
Proceeds from issuance of convertible
subordinated notes, net -- 193,537
Net cash provided by financing activities 4,365 202,441

Net increase (decrease) in cash and
cash equivalents (32,113) 113,536
Cash and cash equivalents at
beginning of period 71,830 87,722
Cash and cash equivalents at end of period $39,717 $201,258




--------------------------------------------------------------------------------
Source: Extreme Networks, Inc.

[panik]

Extreme Networks Reports Fourth Quarter Results
Friday July 18, 8:21 am ET


SANTA CLARA, Calif., July 18 /PRNewswire-FirstCall/ -- Extreme Networks, Inc. (Nasdaq: EXTR - News), a leader in Ethernet broadband networking solutions, today announced financial results for the fiscal fourth quarter ended June 29, 2003. Net revenue for the fourth quarter was $87.3 million, an increase from the third quarter revenue of $85.2 million.
"We are pleased to show sequential sales growth, particularly in the U.S. market, during this challenging economy," said Gordon Stitt, president and CEO of Extreme Networks. "Initial customer response to our newly introduced Unified Access Architecture, which includes our Summit® 300 and Altitude® 300 WLAN switches, our new Triumph-based products, and our Fourth Generation Network Silicon System, has been very positive. Our ongoing commitment to R&D during this economic downturn continues to generate results."

In accordance with the Statement of Financial Accounting Standards No. 109 ("Accounting for Income Taxes"), the Company recorded a non-cash charge of $154 million for the fourth quarter of fiscal 2003 to establish a valuation allowance against its deferred tax assets. The net loss for the quarter, including this non-cash charge, was $170.4 million or ($1.47) per share, which includes a loss of $1.33 per share for the tax charge. Pro-forma* results, net of the tax valuation allowance and one-time charges resulted in revenues of $87.3 million, up from $85.2 million in the third quarter, and a loss of $0.06 per share, compared to the previous quarter loss of $0.06 per share.

"The SFAS No. 109 places greater weight on previous cumulative losses than the outlook for future profitability when determining whether deferred tax assets can be used," added Stitt. "We will periodically review this valuation allowance, and it can be reversed, partially or totally in the future."

Conference Call

Extreme Networks will host a conference call to discuss these results at 8:30 a.m. EDT (5:30 a.m. PDT), for more information visit http://www.extremenetworks.com/aboutus/investor/ . Financial and statistical information to be discussed during the conference call are posted on the Investor Relations section of the Company`s web-site (www.extremenetworks.com).

Extreme Networks, Inc.

Extreme Networks delivers the most effective applications and services infrastructure by creating networks that are faster, simpler and more cost-effective. Headquartered in Santa Clara, Calif., Extreme Networks markets its network switching solutions in more than 50 countries. For more information, visit www.extremenetworks.com

This pro-forma information is provided to allow investors to compare our operating results from prior quarters to our operating results from this quarter net of this charge.
NOTE: Extreme Networks, Summit and Altitude are registered trademarks of Extreme Networks, Inc., in the United States and other countries.

This announcement contains forward-looking statements that involve risks and uncertainties, including statements about our new technology and product introduction cycles. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including, but not limited to: fluctuations in demand for our products and services; a highly competitive business environment for network switching equipment; the possibility that we might experience delays in the development of new technology and products; customer response to our new technology and product; and a dependency on third parties for certain components and for the manufacturing of our products. More information about potential factors that could affect our business and financial results is included in our filings with the Securities and Exchange Commission, including, without limitation, under the captions: "Management`s Discussion and Analysis of Financial Condition and Results of Operations," and "Risk Factors," which is on file with the Securities and Exchange Commission (http://www.sec.gov ).

EXTREME NETWORKS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per-share amounts)
(Unaudited)

Three Months Ended Year Ended
June 29, June 30, June 29, June 30,
2003 2002 2003 2002
Net revenue:
Product $76,651 $103,517 $324,727 $407,394
Services 10,627 9,605 38,549 34,215
Total net revenue 87,278 113,122 363,276 441,609

Cost of revenue:
Product 42,168 N/A 172,069 N/A
Services 12,434 N/A 40,852 N/A
Total cost of
revenue 54,602 58,455 212,921 257,639

Gross margin:
Product 34,483 N/A 152,658 N/A
Services (1,807) N/A (2,303) N/A
Total gross
margin 32,676 54,667 150,355 183,970

Operating expenses:
Sales and marketing 24,417 28,089 102,472 117,855
Research and
development 16,328 15,079 58,004 61,490
General and
administrative 5,741 6,541 25,733 26,922
Impairment of acquired
intangible assets 1,021 -- 1,021 89,752
Amortization of
deferred stock
compensation 687 2,219 723 10,184
Amortization of
goodwill -- 68 -- 33,546
Amortization of
purchased intangible
assets -- 1 -- 3,642
Restructuring charges 1,752 -- 15,939 73,570
Property and equipment
write-off -- -- 12,678 --
Total operating
expenses 49,946 51,997 216,570 416,961

Operating income
(loss) (17,270) 2,670 (66,215) (232,991)

Other income (loss),
net 961 922 3,821 (3,811)

Income (loss) before
income taxes (16,309) 3,592 (62,394) (236,802)

Provision (benefit)
for income taxes 154,081 1,095 134,786 (52,840)

Net income (loss) $(170,390) $2,497 $(197,180) $(183,962)

Net income (loss)
per share - basic $(1.47) $0.02 $(1.71) $(1.63)
Net income (loss)
per share - diluted $(1.47) $0.02 $(1.71) $(1.63)

Shares used in per
share calculation
- basic 116,003 113,785 115,186 112,925
Shares used in per
share calculation
- diluted 116,003 117,190 115,186 112,925


N/A = Information not available

* Reflects reversal of $2.012 million of previously recorded deferred
compensation expense for the first nine months of fiscal 2003.

Our pro-forma loss per share of $0.06 excludes one-time changes of
$1.8 million for an outsource service contract, $1 million for
impairment of goodwill, $.7 million for amortization, $1.8 million for
severance pay, a $3.8 million tax benefit, and a $157.9 million
impairment of tax benefit.


EXTREME NETWORKS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)

June 29, June 30,
2003 2002
Assets

Current assets:
Cash, cash equivalents and investments $163,617 $236,497
Accounts receivable, net 26,794 51,344
Inventories, net 18,710 24,627
Deferred income taxes -- 42,882
Other current assets 16,878 13,126
Total current assets 225,999 368,476

Property and equipment, net 73,767 99,551
Marketable securities 238,540 163,560
Deferred income taxes -- 90,617
Other assets 11,951 13,547

Total assets $550,257 $735,751

Liabilities and stockholders` equity

Current liabilities:
Accounts payable $19,020 $29,215
Deferred revenue 48,298 40,772
Accrued warranty 10,200 9,055
Other accrued liabilities 51,190 47,583
Total current liabilities 128,708 126,625

Other long-term liabilities 22,313 20,168
Convertible subordinated notes 200,000 200,000

Total stockholders` equity 199,236 388,958

Total liabilities and stockholders` equity $550,257 $735,751


EXTREME NETWORKS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)

Year Ended
June 29, June 30,
2003 2002
Operating activities:
Net loss $(197,180) $(183,962)
Adjustments to reconcile net loss to net
cash provided by operating activities:
Depreciation 25,929 31,382
Amortization of goodwill and purchased
intangible assets -- 37,188
Impairment of acquired intangible assets 1,021 89,752
Provision for doubtful accounts -- 3,913
Provision for inventory 300 7,596
Deferred income taxes 133,499 (56,771)
Tax benefits from employee stock transactions -- 1,055
Restructuring charge and property and equipment
write-off 28,617 73,095
Amortization of deferred stock compensation 723 10,184
Write-down of investments 250 9,657
Compensation expense for options granted to
consultants -- 631
Changes in operating assets and liabilities:
Accounts receivable 24,550 7,954
Inventories 5,617 28,306
Other current and noncurrent assets (3,427) (4,760)
Accounts payable (10,195) (6,675)
Deferred revenue 7,526 15,235
Accrued warranty 1,145 6,098
Other accrued liabilities (8,294) (49,409)
Net cash provided by (used in) operating
activities 10,081 20,469

Investing activities:
Capital expenditures (14,716) (82,819)
Purchases and maturities of investments, net (29,135) (143,365)
Acquisition of business -- (14,920)
Net cash used in investing activities (43,851) (241,104)

Financing activities:
Proceeds from issuance of common stock 6,280 11,206
Proceeds from issuance of convertible
subordinated notes, net -- 193,537
Net cash provided by financing activities 6,280 204,743

Net decrease in cash and cash equivalents (27,490) (15,892)
Cash and cash equivalents at beginning of year 71,830 87,722
Cash and cash equivalents at end of year $44,340 $71,830




--------------------------------------------------------------------------------
Source: Extreme Networks, Inc.

[panik]

Reuters
Extreme shares up 23 pct on company`s bullish outlook
Friday July 18, 3:39 pm ET


SAN FRANCISCO, July 18 (Reuters) - Shares in Extreme Networks Inc. (NasdaqNM:EXTR - News) jumped 23 percent on Friday in response to a stronger financial outlook issued by the network equipment maker after it reported quarterly results, analysts said.
ADVERTISEMENT


"They`re expecting really robust growth," said Tim Leehealey, an analyst with Wedbush Morgan Securities, noting Extreme said its fiscal year 2004 revenue would climb at least 10 percent from the recently completed fiscal year`s sales of $363.3 million.

"They said they expected to do $400 million in revenues for the 2004 fiscal year," Leehealey said, adding that the network gear maker said it expects to break even in the current, September-ended fiscal first quarter.

Extreme also said its goal is to be profitable for its 2004 fiscal year.

JMP Securities analyst Samuel Wilson upgraded Extreme to "market outperform" from "market perform," and wrote in a research note on Friday the network gear maker`s revenues have bottomed and will start to pick up as new products ship.

"Clearly, in our view, the company is on the mend," Wilson wrote. However, Wilson noted he expects Extreme`s stock to be volatile until it is clear the company is doing well.

Shares in Extreme rose 23.3 percent, or $1.09, to $5.76 in late afternoon trade on Nasdaq.

Wilson also noted Extreme faces increasing competition, including from Dell Computer Corp. (NasdaqNMELL - News), which has entered the low-end of the network gear market.

Analyst Erik Suppiger of Pacific Growth Equities said he was cautious about Extreme despite its rosy outlook.

"We`re definitely going to take a wait-and-see approach," Suppiger said. "Their current quarter demonstrated a strength in North America, but overall the quarter was so-so."

Analyst Mark Sue of C.E. Unterberg, Towbin said he kept a "market perform" rating on Extreme. "A $400 million revenue target for `04 may be overly aggressive," Sue said.

Santa Clara, California-based Extreme early on Friday posted a fiscal fourth-quarter net loss of $170.4 million, or $1.47 a share, which included a loss of $1.33 per share for charges related to a valuation allowance against deferred tax assets.

The much smaller rival of network industry leader and tech bellwether Cisco Systems Inc. (NasdaqNM:CSCO - News) a year earlier posted a net profit of $2.5 million, or 2 cents a share.

Excluding charges, Extreme reported a loss of 6 cents a share, compared with earnings before items of 3 cents a share a year earlier. Revenues in the fiscal fourth quarter ended June 29 fell to $87.3 million from $113.1 million a year earlier.

[mumienBULLE]

11:46AM Extreme Networks added Focus List at Wedbush Morgan (EXTR) 5.64 -0.11: Firm also raises its price target on the name to $8.50 from $7.00.