Extreme Networks reports FY ’14 loss
Enterasys acquisition bites into Calif. firm’s earnings
Extreme Networks, the company that last November acquired Salem-based Enterasys Networks, lost $16.2 million in its last quarter and some $57.3 million for the fiscal year, but much of the loss was due to continuing acquisition costs.
Those costs are mostly – but not quite – over, said Extreme’s CEO, Charles Berger, last week in his earnings call. Extreme, a San Jose, Calif.-based company, acquired Enterasys for $180 million.
“On the whole, the integration has significantly exceeded my expectations. Enterasys customers, partners, distributors, vendors and employees now interface with us through a single system,” Berger said. “We are on track to realize the synergies we have committed to.”
The revenue for the merged company jumped to $155.3 million, nearly twice that of the previous fourth quarter, and $519.6 million for the fiscal year compared to $299.3 million during the previous year.