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EX - 99.1 2 extr - ex991_6.htm EX - 99.1 For more information , contact : Investor Relations Stan Kovler 919 / 595-4196 Investor_relations@extremenetworks.com pr@extremenetworks.com Extreme Networks Reports Preliminary Second Quarter Fiscal Year 2021 Financial Results Strong Results Highlighted by New Cloud Subscription Bookings up 140 % Year - Over - Year Record Cash Flow Drives Debt Reduction of $ 40 Million Exhibit 99.1 Media Contact Christi Nicolacopoulos 603 / 952-5005 SAN JOSE , Calif . — January 27 , 2021 – Extreme Networks , Inc. ( Nasdaq : EXTR ) , a cloud - driven networking company , today announced preliminary financial results for its second fiscal quarter ended December 31 , 2020 . Customer adoption of Extreme's innovative cloud networking solutions and newly released universal hardware platform , combined with strong execution by global sales teams and channel partners , drove better than expected financial results this quarter . In addition , traction in the company's initiatives to drive “ effortless ” experiences , highlighted by the significant ramp of its channel self - service platform , played a key role in driving sequential growth in bookings and operating profit and resulted in record cash flow . Fiscal Second Quarter Preliminary Results In connection with Extreme's quarter - end close procedures , the company identified a potential adjustment to its distributor rebate estimate , which may result in a non - recurring , increase to contra revenue in our financial statements . This would have no impact on our reported cash balance or business outlook . The company expects to file its completed financial results on a timely basis ; but will provide updates should timing change . A conference call is scheduled today at 5:30 PM Eastern ( 2:30 PM Pacific ) . Revenue in the range of $ 238 million to $ 248 million GAAP EPS in the range of ( $ 0.04 ) to $ 0.02 Non - GAAP EPS in the range of $ 0.11 to $ 0.17 GAAP Gross margin in the range of 57.6 % to 59.1 % Non - GAAP Gross margin in the range of 60.7 % to 62.1 % GAAP Operating income in the range of $ 4 million to $ 12 million Non - GAAP Operating income in the range of $ 23 million to $ 30 million GAAP Operating income percentage in the range of 1.6 % to 4.6 % Non - GAAP Operating income percentage in the range of 9.5 % to 12.2 %