SHAREHOLDER ALERT: WeissLaw LLP Reminds WIFI, NTWN, FI and BMTC Shareholders About Its Ongoing Investigations

NEW YORK, April 30, 2021 /PRNewswire/ —

If you own shares in any of the companies listed above and

would like to discuss our investigations or have any questions concerning

NEW YORK, April 30, 2021 /PRNewswire/ —

If you own shares in any of the companies listed above and
would like to discuss our investigations or have any questions concerning
this notice or your rights or interests, please contact:

Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
[email protected]

Boingo Wireless, Inc. (NASDAQ: WIFI)

WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Boingo Wireless, Inc. (NASDAQ: WIFI) in connection with the proposed acquisition of the company by Digital Colony Management, LLC. Under the terms of the merger agreement, WIFI shareholders will receive $14.00 in cash for each WIFI share that they own. If you own WIFI shares and wish to discuss this investigation or your rights, please call or visit our website: https://www.weisslawllp.com/wifi

Newtown Lane Marketing, Inc. (OTC: NTWN)

WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Newtown Lane Marketing, Inc. (OTC: NTWN) in connection with the company’s proposed merger with Appgate. Under the terms of the merger agreement, NTWN will acquire Appgate through a reverse merger that will result in Appgate becoming a publicly traded company. If you own NTWN shares and wish to discuss this investigation or your rights, please call or visit our website: https://weisslawllp.com/news/ntwn/

Frank’s International N.V. (NYSE: FI)

WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Frank’s International N.V. (NYSE: FI) in connection with the proposed acquisition of the company by Expro Group (“Expro”). Under the terms of the merger agreement, Expro shareholders will receive 7.272 FI shares per Expro share they own. Upon consummation of the transaction, FI shareholders will only own approximately 35% of the combined entity, with Expro shareholders owning approximately 65%. If you own FI shares and wish to discuss this investigation or your rights, please call us or visit our website: https://www.weisslawllp.com/fi/

Bryn Mawr Bank Corporation (NASDAQ: BMTC)

WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Bryn Mawr Bank Corporation (NASDAQ: BMTC) in connection with the proposed acquisition of the company by WSFS Financial Corporation (“WSFS”). Under the terms of the merger agreement, BMTC shareholders will receive 0.90 shares of WSFS common stock for each BMTC share that they own, representing implied per-share merger consideration of $45.95 based upon WSFS’ April 29, 2021 closing price of $51.06. If you own BMTC shares and wish to discuss this investigation or your rights, please call us or visit our website: http://www.weisslawllp.com/bmtc

SOURCE WeissLaw LLP


Related Links

http://weisslawllp.com

Linksys Launches New Lineup of 6E Solutions with the Linksys Hydra Pro 6E and Linksys Atlas Max 6E

“Wi-Fi 6E is driving a surge in technology innovation and we’re proud to deliver next-level solutions that harness 6E speeds and efficiency, coupled with built-in Velop Intelligent Mesh,” says Harry Dewhirst, vice president of business development, Linksys.

“Wi-Fi 6E is driving a surge in technology innovation and we’re proud to deliver next-level solutions that harness 6E speeds and efficiency, coupled with built-in Velop Intelligent Mesh,” says Harry Dewhirst, vice president of business development, Linksys. “As the market’s first Wi-Fi 6E system certified by the Wi-Fi Alliance we remain steadfast in our commitment to provide our customers reliable, innovative and secure Wi-Fi solutions.”

Linksys Hydra Pro 6E
The Linksys Hydra Pro 6E tri-band router unleashes multi-gigabit Wi-Fi speeds at up to 6.6Gbps (AXE6600) to cover 2,700 square feet and more than 55 devices at one time. It combines built-in mesh technology and industry-leading chipset from Qualcomm for wire-like stability and blazing-fast performance for a home full of people to enjoy pro gaming or HD streaming.

Other key features include a 5Gbps WAN port for multi-gigabit speeds, easy setup through the free Linksys app, seamless compatibility with existing modem and internet provider, and automatic updates and Guest Access to ensure your network is secure, up-to-date, and safe from cyber threats.

Linksys Atlas Max 6E
Unveiled in January as the Linksys AXE8400 Wi-Fi 6E System, the newly dubbed Linksys Atlas Max 6E is now available for purchase. Powered by the Qualcomm® Networking Pro™ 1210 Platform, the Linksys Atlas Max 6E tri-band system unleashes the biggest upgrade to Wi-Fi in a decade to provide ultimate performance across hundreds of devices**. The system supports bandwidth-heavy homes and leverages the 6GHz band for backhaul between nodes so that all devices – 6E or not – benefit from the system.

It is the first fully certified Wi-Fi 6E solution by the Wi-Fi Alliance, ensuring itmeets the highest standards for security and safety so consumers can have peace of mind using any device on their network. It is also the first Wi-Fi 6E system with mesh built in***, no extra updates or additional hardware necessary. Other key features include 1-pack, 2-pack or 3-pack options, mesh capabilities for growing Wi-Fi needs, a 5Gbps WAN port for multi-gigabit wireless speeds, four Gigabit LAN ports and one USB 3.0 port for multiple hardwire or USB connections, easy app-based setup, and seamless compatibility with existing modem and internet provider.

Availability and Imagery

Linksys Hydra Pro 6E is available now for $499.99 MSRP on Linksys.com and coming soon to major retailers.

Linksys Atlas Max 6E (3-pack) is available now for $1,199.99 MSRP on Linksys.com and coming soon to major retailers.

Imagery can be found here:
https://www.dropbox.com/sh/8k6dhoakrpz9y1i/AACUu4zctzKZKwfHtY6y0XfPa?dl=0

About Linksys
Since 1988, Linksys has been on a mission to connect the world and build the world’s most reliable and innovative wireless technology. Linksys was the first router brand to ship 100 million units worldwide. Recognized for its legacy in mesh hardware and award-winning Velop motion sensing software portfolio, Linksys connects your smart home or business with enhanced security and seamless, frustration-free WiFi. Linksys products are sold in more than 60 countries around the world. In 2018, Linksys became a subsidiary of Foxconn Interconnect Technology (FIT) to bolster its global influence and in 2021, aligned with Fortinet to further secure and optimize the performance and management of home networks in today’s work from home environment.

*Velop refers to Linksys software intelligence, delivered across all Linksys endpoints that will allow customers to control and manage their devices more efficiently. The Velop name will now classify the Linksys software category (i.e.Velop Intelligent Mesh, Velop Aware, Velop Shield), instead of the type of Linksys hardware system (i.e. Velop Tri-Band System).

**The Linksys Atlas Max 6E 1-pack covers 65+ devices, 2-pack covers 130+ devices, 3-pack covers 195+ devices

***System indicating a multi-unit pack with no additional purchases or firmware upgrades necessary to create a mesh network.

SOURCE Linksys


Related Links

https://www.linksys.com/us

FOURMIDABLE adds two more apartment communities to their portfolio

– Alcazar Apartments consists of 142 affordable apartments located in Kansas City, MO. Alcazar offers studio, one and two bedroom floorplans and features controlled access, business center, laundry facilities and on-site parking options.

– Alcazar Apartments consists of 142 affordable apartments located in Kansas City, MO. Alcazar offers studio, one and two bedroom floorplans and features controlled access, business center, laundry facilities and on-site parking options. The new ownership group has plans to install new security doors and camera as well as add additional parking. A name change is also in the works. Alcazar Apartments is a HUD Section 8 community; rents are based on 30% of gross income. For more information visit Alcazarapts.com.

– Sycamore Meadows, a 262 affordable apartment community located in Ypsilanti, Michigan, consists of one, two and three bedroom townhomes; some with basements. Sycamore Meadows is a HUD Section 8 community and is centrally located near parks, downtown and public transportation. Rents are based on 30% of gross income. For more information visit Sycamoremeadowsapts.com.

About FOURMIDABLE

FOURMIDABLE is a national real estate management and brokerage company that specializes in managing, marketing and leasing market rate, tax credit, senior and family government assisted, public housing and rural development apartment communities. Founded in 1975, FOURMIDABLE currently manages 73 communities in 12 states, with approximately 7,599 units under management. FOURMIDABLE is a member of the elite AMO (Accredited Management Organization) and is an approved management firm for HUD, MSHDA and other State Agencies. Additionally, FOURMIDABLE affiliated companies offer support for property management companies and owners, including agility-pm, a provider of back office accounting, HR, IT and compliance support; eCrosstown, a provider of free Wi-Fi amenity services to apartment residents; and ePhonz, a specialized telephone product for apartment management companies.

For more information, please call 248-593-4634 or visit www.fourmidable.com

CONTACT:

Michael Schocker, President

248-593-4634

Sue Voyles

Logos Communications

734-667-2005

SOURCE FOURMIDABLE


Related Links

http://www.fourmidable.com

Global Shared & Unlicensed Spectrum LTE/5G Network Market Ecosystem Size, Share, Covid-19 Impact, Key Players Analysis and Forecasts 2021-2030 – ReportsnReports

PUNE, India, April 29, 2021 /PRNewswire/ — ReportsnReports added The Shared & Unlicensed Spectrum LTE/5G Network Ecosystem: 2021 – 2030 – Opportunities, Challenges, Strategies & Forecasts Report to its online research library.

PUNE, India, April 29, 2021 /PRNewswire/ — ReportsnReports added The Shared & Unlicensed Spectrum LTE/5G Network Ecosystem: 2021 – 2030 – Opportunities, Challenges, Strategies & Forecasts Report to its online research library.

As the 5G era advances, the cellular communications industry is undergoing a revolutionary paradigm shift, driven by technological innovations, liberal regulatory policies and disruptive business models. One important aspect of this radical transformation is the growing adoption of shared and unlicensed spectrum – frequencies that are not exclusively licensed to a single mobile operator.

Telecommunications regulatory authorities across the globe have launched innovative frameworks to facilitate the coordinated sharing of licensed spectrum, most notably the United States’ three-tiered CBRS scheme for dynamic sharing of 3.5 GHz spectrum, Germany’s 3.7-3.8 GHz licenses for private 5G networks, the United Kingdom’s shared and local access licensing model, France’s 2.6 GHz licenses for industrial LTE/5G networks, the Netherlands’ local mid-band spectrum permits, Japan’s local 5G network licenses, Hong Kong’s geographically-shared licenses, and Australia’s 26/28 GHz area-wide apparatus licenses. Collectively, these ground-breaking initiatives are catalyzing the rollout of shared spectrum LTE and 5G NR networks for a diverse array of use cases ranging from private cellular networks for enterprises and vertical industries to mobile network densification, FWA (Fixed Wireless Access) and neutral host infrastructure.

Get a Free Sample Copy of The Shared & Unlicensed Spectrum LTE/5G Network Market Ecosystem Research Report at https://www.reportsnreports.com/contacts/requestsample.aspx?name=4014988

In addition, the 3GPP cellular wireless ecosystem is also accelerating its foray into vast swaths of globally and regionally harmonized unlicensed spectrum bands. Although existing commercial activity is largely centered around LTE-based LAA (Licensed Assisted Access) technology whereby license-exempt frequencies are used in tandem with licensed anchors to expand mobile network capacity and deliver higher data rates, the introduction of 5G NR-U in 3GPP’s Release 16 specifications paves the way for 5G NR deployments in unlicensed spectrum for both licensed assisted and standalone modes of operation.

Even with ongoing challenges such as the COVID-19 pandemic-induced economic slowdown, SNS Telecom & IT estimates that global investments in LTE and 5G NR RAN (Radio Access Network) infrastructure operating in shared and unlicensed spectrum will account for more than $1.3 Billion by the end of 2021. The market is expected to continue its upward trajectory beyond 2021, growing at CAGR of approximately 44% between 2021 and 2024 to reach nearly $4 Billion in annual spending by 2024.

The “Shared & Unlicensed Spectrum LTE/5G Network Ecosystem: 2021 – 2030 – Opportunities, Challenges, Strategies & Forecasts” report presents a detailed assessment of the shared and unlicensed spectrum LTE/5G network ecosystem including the value chain, market drivers, barriers to uptake, enabling technologies, key trends, future roadmap, business models, use cases, application scenarios, standardization, spectrum availability/allocation, regulatory landscape, case studies, ecosystem player profiles and strategies. The report also provides global and regional forecasts for shared and unlicensed spectrum LTE/5G RAN infrastructure from 2021 till 2030. The forecasts cover two air interface technologies, two cell type categories, two spectrum licensing models, 12 frequency band ranges, seven use cases and five regional markets.

The report comes with an associated Excel datasheet suite covering quantitative data from all numeric forecasts presented in the report.

Topics Covered

The report covers the following topics:

Introduction to shared and unlicensed spectrum LTE/5G networks Value chain and ecosystem structure Market drivers and challenges Enabling technologies and concepts including CBRS, LSA/eLSA, local area licensing, LTE-U, LAA/eLAA/FeLAA, 5G NR-U, MulteFire and sXGP Key trends such as private cellular networks, ongoing expansion of 3GPP technologies into industrial IoT settings, neutral host infrastructure, mobile network densification and fixed wireless broadband rollouts Future roadmap of shared and unlicensed spectrum LTE/5G networks Business models, use cases and application scenarios Spectrum availability, allocation and usage across the global, regional and national domains Standardization, regulatory and collaborative initiatives 40 case studies of LTE and 5G NR deployments in shared and unlicensed spectrum Profiles and strategies of more than 280 ecosystem players Strategic recommendations for LTE and 5G NR equipment suppliers, system integrators, service providers, enterprises and vertical industries Market analysis and forecasts from 2021 till 2030

Get 20% Discount on Direct Purchase of this Research Report at https://www.reportsnreports.com/purchase.aspx?name=4014988

Forecast Segmentation

Market forecasts for LTE and 5G NR-based RAN equipment operating in shared and unlicensed spectrum are provided for each of the following submarkets and their subcategories:

Air Interface Technologies

LTE 5G NR

Cell Types

Indoor Small Cells Outdoor Small Cells

Spectrum Licensing Models

Coordinated (Licensed) Shared Spectrum Unlicensed Spectrum

Frequency Bands

Coordinated Shared Spectrum 1.8 GHz 2.3-2.6 GHz 3.3-4.2 GHz C-Band 3.5 GHz CBRS Band 26/28 GHz Other FrequenciesUnlicensed Spectrum Sub 1-GHz 1.9 GHz sXGP Band 2.4 GHz 5 GHz 6 GHz Higher Frequencies

Use Cases

Mobile Network Densification FWA (Fixed Wireless Access) Cable Operators & New Entrants Neutral Hosts Private Cellular Networks Offices, Buildings & Corporate Campuses Vertical Industries

Regional Markets

North AmericaAsia PacificEuropeMiddle East & AfricaLatin & Central America

Key Questions Answered

The report provides answers to the following key questions:

How big is the opportunity for LTE and 5G NR networks operating in shared and unlicensed spectrum? What trends, drivers and challenges are influencing its growth? What will the market size be in 2024, and at what rate will it grow? Which submarkets and regions will see the highest percentage of growth? What are the existing and candidate shared/unlicensed spectrum bands for the operation of LTE and 5G NR, and what is the status of their adoption worldwide? What are the business models, use cases and application scenarios for shared and unlicensed spectrum? How will CBRS and other coordinated shared spectrum frameworks accelerate the uptake of private cellular networks for enterprises and vertical industries? How does the integration of shared and unlicensed spectrum relieve capacity constraints faced by traditional mobile operators? What opportunities exist for cable operators, neutral hosts, niche service providers and other new entrants? What is the impact of the COVID-19 pandemic on shared and unlicensed spectrum LTE/5G network deployments? Who are the key ecosystem players, and what are their strategies? What strategies should LTE and 5G NR equipment suppliers, system integrators, service providers and other stakeholders adopt to remain competitive?

Key Findings

The report has the following key findings:

Even with ongoing challenges such as the COVID-19 pandemic-induced economic slowdown, SNS Telecom & IT estimates that global investments in LTE and 5G NR RAN infrastructure operating in shared and unlicensed spectrum will account for more than $1.3 Billion by the end of 2021. The market is expected to continue its upward trajectory beyond 2021, growing at CAGR of approximately 44% between 2021 and 2024 to reach nearly $4 Billion in annual spending by 2024. Breaking away from traditional practices of spectrum assignment for mobile services that predominantly focused on exclusive-use national licenses, telecommunications regulatory authorities across the globe have launched innovative frameworks to facilitate the coordinated sharing of licensed spectrum. Notable examples include the United States’ three-tiered CBRS scheme for dynamic sharing of 3.5 GHz spectrum, Germany’s 3.7-3.8 GHz licenses for private 5G networks, the United Kingdom’s shared and local access licensing model, France’s 2.6 GHz licenses for industrial LTE/5G networks, the Netherlands’ local mid-band spectrum permits, Japan’s local 5G network licenses, Hong Kong’s geographically-shared licenses, and Australia’s 26/28 GHz area-wide apparatus licenses. Collectively, these ground-breaking initiatives are catalyzing the rollout of shared spectrum LTE and 5G NR networks for a diverse array of use cases ranging from private cellular networks for enterprises and vertical industries to mobile network densification, FWA and neutral host infrastructure. In particular, private LTE and 5G networks operating in shared spectrum are becoming an increasingly common theme. For example, Germany’s national telecommunications regulator BNetzA (Federal Network Agency) has received more than a hundred applications for private 5G licenses in 2020 alone. Dozens of purpose-built 5G networks are already in operational use by the likes of aircraft maintenance specialist Lufthansa Technik, industrial conglomerate Bosch, automakers and other manufacturing giants. Since the commencement of its local 5G spectrum licensing scheme, Japan has been showing a similar appetite for industrial-grade 5G networks, with initial field trials and deployments being spearheaded by many of the country’s largest industrial players including Fujitsu, Mitsubishi Electric, Sumitomo Corporation and Kawasaki Heavy Industries. Among other examples, the 3.5 GHz CBRS shared spectrum band is being utilized to set up private LTE networks across the United States for applications as diverse as remote learning and COVID-19 response efforts in healthcare facilities. 5G NR-based CBRS implementations are also expected to emerge between 2021 and 2022 to better support industrial IoT requirements. Multiple companies including agriculture and construction equipment manufacturer John Deere have already made commitments to deploy private 5G networks in CBRS spectrum. Mobile operators and other cellular ecosystem stakeholders are also seeking to tap into vast swaths of globally and regionally harmonized unlicensed spectrum bands for the operation of 3GPP technologies. Although existing deployments are largely based on LTE-LAA technology whereby license-exempt frequencies are used in tandem with licensed anchors to expand mobile network capacity and deliver higher data rates, standalone cellular networks that can operate solely in unlicensed spectrum – without requiring an anchor carrier in licensed spectrum – are beginning to emerge as well. In the coming years, with the commercial maturity of 5G NR-U technology, we also anticipate to see 5G NR deployments in unlicensed spectrum for both licensed assisted and standalone modes of operation using the 5 GHz and 6 GHz bands as well as higher frequencies in the millimeter wave range – for example, Australia’s 24.25-25.1 GHz band that is being made available for uncoordinated deployments of private 5G networks servicing locations such as factories, mining sites, hospitals and educational institutions.

Get 20% Discount on The Shared & Unlicensed Spectrum LTE/5G Network Market 2021-2030 Ecosystem Research Report at https://www.reportsnreports.com/contacts/discount.aspx?name=4014988

List of Companies Mentioned:

3GPP (Third Generation Partnership Project), 5G-ACIA (5G Alliance for Connected Industries and Automation), 6Harmonics/6WiLInk, 7Layers, Aaeon Technology, ABB, ABiT Corporation, Accelleran, Accenture, Accuver, ACMA (Australian Communications and Media Authority), ADRF (Advanced RF Technologies), Affirmed Networks, Airgain, Airspan Networks, Airtower Networks, Airwavz Solutions, AKOS (Agency for Communication Networks and Services of the Republic of Slovenia), Akoustis Technologies, Alabama Power Company, Alef Edge, Allen Vanguard Wireless, Alliance of Industrial Internet, Alpha Wireless, Alphabet, Altiostar Networks, Altran, Amazon, Amdocs, American Dream, American Tower Corporation, Amit Wireless, ANACOM (National Communications Authority, Portugal), Angel Stadium, Anritsu Corporation, ANS (Advanced Network Services), Antenna Company, Anterix, Apple, ARCEP (Autorité de Régulation des Communications Électroniques), ARIB (Association of Radio Industries and Businesses, Japan), Artemis Networks, Askey Computer Corporation, ASOCS, ASTRI (Hong Kong Applied Science and Technology Research Institute), ASUS (ASUSTeK Computer), AT&T, Athonet, ATIS (Alliance for Telecommunications Industry Solutions), ATN International, AttoCore, Axell Wireless, Azcom Technology, BAI Communications, Baicells Technologies, Ballast Networks, BBB (BB Backbone Corporation), BBK Electronics Corporation, BearCom, BEC Technologies, Benetel, Benic Solution Corporation, Billion Electric, BIPT (Belgian Institute for Postal Services and Telecommunications), Black Box Corporation, Blackned, BLiNQ Networks, Blue Arcus Technologies, Blue Danube Systems, BNetzA (Federal Network Agency, Germany), Boingo Wireless, Branch Communications, BTI Wireless, BTK (Information and Communications Technologies Authority, Turkey), Bureau Veritas, BVSystems (Berkeley Varitronics Systems), BYD, CableFree (Wireless Excellence), CableLabs, Cal.net, Caltta, Cambium Networks, Cambridge Consultants, Carlson Wireless Technologies, Casa Systems, CBRS Alliance, CCI (Communication Components Inc.), CCN (Cirrus Core Networks), CCSA (China Communications Standards Association), CellAntenna Corporation, cellXica, Celona, Centerline Communications, CEPT (European Conference of Postal and Telecommunications Administrations), Charter Communications, China Mobile, Chunghwa Telecom, CICT (China Information and Communication Technology Group)/China Xinke Group, Cisco Systems, CITC (Communications and Information Technology Commission, Saudi Arabia), CITRA (Communication and Information Technology Regulatory Authority, Kuwait), Claro, ClearSky Technologies, Codium Networks, Comba Telecom, CommAgility, CommScope, Compal, COMSovereign, Connectivity Wireless Solutions, Contela, Contour Networks, Corning, Council Rock, Cradlepoint, Crown Castle International Corporation, CTIA, CTS (Communication Technology Services), CTU (Czech Telecommunication Office), Dali Wireless, Dallas Love Field Airport, Danish Energy Agency, DART (Dallas Area Rapid Transit), Dejero Labs, DEKRA, Dell Technologies, Digi International, Digicert, Digital Colony, DKK (Denki Kogyo), Druid Software, DSA (Dynamic Spectrum Alliance), Dynabook, ECT (Hutchison Ports ECT Rotterdam), EETT (Hellenic Telecommunications and Post Commission), EION Wireless, ENACOM (Ente Nacional de Comunicaciones), Encore Networks, Ericsson, ETRI (Electronics & Telecommunications Research Institute, South Korea), ETSI (European Telecommunications Standards Institute), EXFO, ExRobotics, ExteNet Systems, Facebook, Faena Forum, Faena Hotel Miami Beach, Fairspectrum, FCNT (Fujitsu Connected Technologies), Federated Wireless, FedEx, Fibrolan, FreedomFi, FRTek, Fujitsu, Future Technologies Venture, GCT Semiconductor, GE (General Electric), Gemtek Technology, Geoverse, Getac Technology Corporation, Gogo, Goodman Networks, Google, Granite Telecommunications, Green Packet, HCL Technologies, HFR, Hitachi Kokusai Electric, Hon Hai Precision Industry (Foxconn Technology Group), HP, HPE (Hewlett Packard Enterprise), HTNG (Hospitality Technology Next Generation), Huawei, Huber+Suhner, iBwave Solutions, IETF (Internet Engineering Task Force), IIC (Industrial Internet Consortium), IMDA (Info-communications Media Development Authority of Singapore), Infomark Corporation, Infosys, Infovista, Innonet, InnoWireless, Inseego Corporation, Insta Group, Intel Corporation, Intenna Systems, InterDigital, IoT4Net, ip.access, IPLOOK Networks, iPosi, ISED (Innovation, Science and Economic Development Canada), ITU-R (International Telecommunication Union Radiocommunication Sector), Jaton Technology, JCI (Japan Communications Inc.), JEMS (Japan EM Solutions), JIT (JI Technology), JMA Wireless, John Deere (Deere & Company), JRC (Japan Radio Company), Juni Global, Kajeet, Kawasaki Heavy Industries, Kementerian Kominfo (Ministry of Communication and Information Technology, Indonesia), Key Bridge Wireless, Keysight Technologies, Kisan Telecom, KLA Laboratories, Kleos, KMW, Koning & Hartman, KORE Wireless, KPN, Kyocera Corporation, Kyrio, Landmark Dividend, Lekha Wireless Solutions, Lemko Corporation, Lenovo, LG Electronics, Lime Microsystems, Lindsay Broadband, Linx Technologies, LS telcom, LTE-U Forum, Lufthansa Technik, M/C Partners, Maven Wireless, Mavenir Systems, MCMC (Malaysian Communications and Multimedia Commission), McWane, Memorial Health System, Metaswitch Networks, Metro Network Services, MIC (Ministry of Internal Affairs and Communications, Japan), MiCOM Labs, Microlab, Microsoft Corporation, Midco (Midcontinent Communications), MIIT (Ministry of Industry and Information Technology, China), MitraStar Technology, Mitsubishi Electric Corporation, MLB (Major League Baseball), Mobile Mark, Mobilitie, Motorola Mobility, Motorola Solutions, MRT Technology (Suzhou), MSB (M S Benbow & Associates), MSIT (Ministry of Science and ICT, South Korea), MTI (Microelectronics Technology, Inc.), MTI Wireless Edge, MTS (Mobile TeleSystems), MulteFire Alliance, Multi-Tech Systems, Murray City School District, NBTC (National Broadcasting and Telecommunications Commission, Thailand), NEC Corporation, Nemko, NetCity (GEOS Telecom/GEOS Holding), Netgear, NetNumber, Netvision Telecom, NewEdge Signal Solutions, Nextivity, NGMN Alliance, Nkom (Norwegian Communications Authority), Node-H, Nokia, Nominet, Nsight Telservices, NTC (National Telecommunications Commission, Philippines), NuRAN Wireless, Nutaq Innovation, Ocado, Oceus Networks, Octasic, OFCA (Office of the Communications Authority, Hong Kong), Ofcom (Office of Communications, United Kingdom), OnePlus, ONF (Open Networking Foundation), OPPO, Optage, Oracle Communications, Panasonic Corporation, Panorama Antennas, Parallel Wireless, Parsec Technologies, Pavlov Media, PCTEL, PCTEST Lab (PCTEST Engineering Laboratory), PGA Tour, Pierson Wireless, Pivot Technology Services, Pivotal Commware, PK Solutions, Polaris Networks, Port of Rotterdam Authority, Potevio, PTA (Pakistan Telecommunication Authority), PTS (Post and Telecom Authority, Sweden), QuadGen Wireless Solutions, Qualcomm, Quantum Wireless, Qucell, Quectel Wireless Solutions, Qulsar, Quortus, Radiocommunications Agency Netherlands, Radisys Corporation, Ranplan Wireless, RATEL (Regulatory Agency for Electronic Communications and Postal Services, Serbia), Raycap, RCI (Rural Cloud Initiative), Realme, Rearden, RED Technologies, Redline Communications, Reliance Industries, RF Connect, RFS (Radio Frequency Systems), Rivada Networks, RKTPL (RK Telesystem Private Limited), Robert Bosch, Rohde & Schwarz, Royal Dutch Shell, Ruckus Networks, RuggON Corporation, RWG (Rotterdam World Gateway), Saankhya Labs, SAC Wireless, Safari Telecom, Samsung, Sanjole, SBA Communications Corporation, SCM (Smart City Media), SCRF (State Commission for Radio Frequencies, Russia), SDG&E (San Diego Gas & Electric) Company, Select Spectrum, Sempra Energy, Seowon Intech, Sequans Communications, Sercomm Corporation, SGCC (State Grid Corporation of China), SGS, Shanghai Smawave Technology, Sharp Corporation, Siemens, Sierra Wireless, SIPG (Shanghai International Port Group), Sivers IMA, Small Cell Forum, Smart City Networks, SmarTone, SoftBank Group, SOLiD, Sony Corporation, Sony Mobile Communications, Southern Company, Southern Linc, Spectrum Effect, Spirent Communications, Sporton International, SQUAN, SSC (Shared Spectrum Company), Star Solutions, STEP CG, STL (Sterlite Technologies Ltd), Strata Worldwide, Subtel (Subsecretaría de Telecomunicaciones de Chile), Sumitomo Corporation, Sunwave Communications, SureSite Consulting Group, Suzhou Aquila Solutions (Aquila Wireless), Syniverse Technologies, T&W (Shenzhen Gongjin Electronics), Tait Communications, Tango Networks, Taoglas, Teal Communications, Tecore Networks, Telewave, Teleworld Solutions, Telit Communications, Telrad Networks, Telsasoft, Tessares, TESSCO Technologies, ThinkRF, Tilson, TIM (Telecom Italia Mobile), Times Square Alliance, TLC Solutions, TRA (Telecommunications Regulatory Authority, United Arab Emirates), Traficom (Transport and Communications Agency, Finland), Transit Wireless, Trilogy Networks, TSDSI (Telecommunications Standards Development Society, India), TTA (Telecommunications Technology Association, South Korea), TTC (Telecommunication Technology Committee, Japan), TÜV SÜD, U.S. FCC (Federal Communications Commission), Ubicquia, UCSB (University of California, Santa Barbara), UKE (Office of Electronic Communications, Poland), UL, Unizyx Holding Corporation, URSYS, Valid8, Vapor IO, Ventev, Verizon Communications, Vertical Bridge, Verveba Telecom, Viavi Solutions, VINCI Energies, Virtual Network Communications, Vivo, Vodacom Group, Vodafone Germany, Vodafone Group, Wave Wireless, Wavesight, WBA (Wireless Broadband Alliance), Westell Technologies, WhiteSpace Alliance, Widelity, Wi-Fi Alliance, Wilson Electronics, Wilus, WIN Connectivity (Wireless Information Networks), Winncom Technologies, WInnForum (Wireless Innovation Forum), Wireless Telecom Group, WNC (Wistron NeWeb Corporation), Wytec International, XGP (eXtended Global Platform) Forum, Yangshan Port, Zebra Technologies, ZenFi Networks, Zinwave, Zmtel (Shanghai Zhongmi Communication Technology), ZTE, Zyxel Communications.

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Xfinity home internet: Everything you need to know before signing up – CNET

Xfinity internet, which is available in 39 states, features some of the fastest plans available from a major provider, including multiple broadband options, advanced Wi-Fi equipment and — with selected plans — no contracts.

Xfinity internet, which is available in 39 states, features some of the fastest plans available from a major provider, including multiple broadband options, advanced Wi-Fi equipment and — with selected plans — no contracts.

A product of Comcast, the nation’s largest cable provider, Xfinity internet is available to more than one-third of American households. Here’s everything you should know about it before you sign up.

Check your ZIP to find out if Xfinity Internet is available in your area

What plans can you get with Xfinity Internet?

Depending on where you live, Xfinity offers up to seven different internet plans. No-contract plans are available, but you’ll likely pay more than you would with a term agreement.

*Pricing per month plus taxes for length of contract. Includes discount for automatic payments and paperless billing. Additional fees and terms may apply. Pricing and promotional deals vary by location and availability. All prices subject to change. May or may not be available based on service address. As of April 28, 2021.

Xfinity Internet plans and pricing will vary depending on your location

Some differences are negligible — the 400Mbps plan in all three regions falls between $50 to $60 — but further variance can be found in the introductory 50Mbps plans. Central and West regions offer monthly pricing deals of $20 and $25, but customers in the Northeast are met with a starting price of $65 for the same speed.

Why the difference? An Xfinity spokesperson told CNET, “We’re a regional provider and market and price our products based on individual local market dynamics. That’s why our costs can be different on a market by market basis.” In other words, just as a gallon of milk can cost you $3.80 in Connecticut but $3.50 in Colorado, the monthly price of a 100Mbps plan will be $30 in Connecticut and $40 in Colorado.

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One other item you may have noticed is the discrepancy between the download and upload speeds. Typically, we pay closer attention to the download speed because it impacts our ability to download large files, listen to new music or stream our favorite shows and movies. But as more of us work from home, our ability to upload files is becoming more and more important. For example, Zoom recommends at least 2Mbps for single-screen usage of its platform. If you have two people on separate Zoom calls at the same time, you could potentially run into issues very quickly on some of these plans.

How do you know which Xfinity Internet plan is right for you?

Many internet service providers offer three or four plan options, so comparatively, when looking at the seven across the Xfinity grid, your eyes might start to glaze over. But there’s no need to panic. Xfinity provides an estimate for how many devices can connect on each of its plans — and allows you to tweak those estimates based on the types of internet activity you use most, whether that’s simply checking emails or binge-watching Bridgerton in 4K while video chatting.

Here’s a quick summary to help give you some guidance. Performance Starter (50Mbps): Up to four devices in use at the same time. This is the slowest available plan from Xfinity and though it qualifies as “broadband” (defined by the Federal Communications Commission as at least 25Mbps download and 3Mbps upload speeds), it might be challenging for a household beyond a single user.Performance (100Mbps): Up to five devices at the same time. Blast! (200Mbps): Up to eight devices at the same time.Extreme (400Mbps): Up to 11 devices at the same time. This mid-tier plan should be sufficient for a household of four, whether members are remote working, schooling from home, streaming Netflix or gaming.
Extreme Pro (800Mbps): Up to 12 devices at the same time.
Gigabit Speed (1,200Mbps): Unlimited devices at the same time.
Gigabit Pro (2,000Mbps): Unlimited devices at the same time. Put simply, this is the fastest residential internet plan available at the current time from any ISP across the country and should be more than enough for any multiuser household.
What type of internet connections does Xfinity offer?

Xfinity Internet relies almost solely on coaxial cable connections to provide service to subscribers’ homes. This is a very reliable method that offers speeds much faster than those typically offered by DSL, satellite and fixed wireless. For the very small percentage of Xfinity service that isn’t cable, the connection type offered is the only one currently superior to cable for speed — fiber internet. It’s through this connection that Xfinity offers its top-speed option, Gigabit Pro. Per our Comcast sources, Gigabit Pro is an FTTH-based product (fiber to the home), which means that although Gigabit Pro is theoretically available to all Xfinity service areas, a site survey is first required to ensure serviceability to specific addresses and locations.

Where can you get Xfinity Internet?

Xfinity Internet plans are available in 39 states across the country, as well as Washington, DC. The full lineup of states includes Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia and Wisconsin.

If you live in one of these states and are trying to determine whether you’re eligible for Xfinity service, check your address using the internet serviceability tool at the bottom or top of this page.

What should I expect from my Xfinity Internet bill?

It’s always a good idea to take some time to read the fine print. If you’re planning out your budget, you want to make sure you’ve allotted the proper amount for your internet service. After all, it’s not just about the starting monthly fee.

Additional monthly fees

Speaking of the monthly fee, the promo rate assumes a $10-per-month discount for enrolling in automatic payments and paperless billing. If you choose not to go that route, you can expect an additional $10 per month on your bill. Also, after your promo rate ends (typically after one year), your monthly rate will convert to the regular rate (usually equal to the cost without a contract).

You’ll also be charged another $14 a month for the xFi Gateway, a sleek modem-router combo exclusive to Xfinity that features free security measures, parental controls over your home’s Wi-Fi and full tech support. Xfinity does give you the option to use your own modem and router, but your equipment must be compatible with its service. Even if it is, you won’t get the same technical support or device upgrades that you will with the xFi.

One-time installation fee

If you would like a technician to activate your service and verify all your home connections, then you’ll incur a charge of $40. Xfinity does let you bypass this additional cost by selecting self-install, meaning it’ll ship you a Getting Started kit and you can activate service on your own, using the Xfinity app.

Xfinity Internet Data Usage Plan

Yes, Xfinity enforces a monthly data cap, which is set at 1.2TB of data each month. (Note: Data limits will not apply for the Northeast market until 2022.) It should be noted that several other ISPs — including Frontier, Spectrum and Verizon — offer unlimited data. That said, what does 1.2TB of data get you? The Xfinity data explainer shows you can enjoy online multiplayer gaming for 34,000 hours within the data cap. You could also stream 130 hours of the Marvel Cinematic Universe in glorious Ultra HD and Dolby Atmos on Disney Plus and still stay under the data cap.

If, however, you do find your household using more than the given 1.2TB of data per month, you’ll be charged an additional $10 for each increment of 50GB you exceed it. The maximum monthly overage charge is $100.

Does Xfinity offer any extra perks or bundles?

We’ve talked about the not-so-hidden additional fees you might expect to incur when signing up for internet service. You will also find freebies or enticing extras that come when you sign up for broadband with Xfinity.

First, you can add the Xfinity Flex 4K streaming TV box and voice remote for free. This will give you access to your favorite apps and lots of free content, as well as Peacock Premium (which features access to all programming on the service, but with limited commercials), which is a $5-per-month value.

Second, you can potentially get another $10 a month off your internet bill for two years if you have an active, qualifying Xfinity Mobile line.

Most intriguing, because Xfinity offers TV, home security, voice and mobile services in addition to its broadband offerings, there are a number of bundle deals available to help you knock $10 or more a month off your regular bill. Similar to the tables we listed above, the exact bundle deals vary by region, but all customers should have the option of nearly 10 different types of bundle packages, ranging from Double Play options (internet plus another service) to premium bundle packages that include internet, TV and streaming, phone and home security.

How does Comcast Xfinity fare on customer satisfaction?

Xfinity by Comcast has steadily risen in customer satisfaction metrics over the last few years. When you look at its 2020 American Customer Satisfaction Index numbers, it was up five points from the previous year to score 66 of 100 points. That puts it well above average in the industry and good enough for third place among all ISPs, behind only Verizon Fios and AT&T.

Hopping over to the J.D. Power 2020 US Residential Internet Service Provider Satisfaction Study, Xfinity consistently ranked near the top in overall customer satisfaction. The study uses a 1,000-point scale and breaks the country down into four geographic regions — West, South, North Central and East. Xfinity averaged 730 points across the four regions, which was good for second place in all regions except for the West, where it placed third, after AT&T and Sparklight.

Xfinity Internet FAQs

Is Comcast the same as Xfinity?

Yes. Comcast owns Xfinity and launched the brand back in 2010. Comcast offers internet, TV, home security and phone services under the Xfinity brand.

What is the phone number for Xfinity?

The Xfinity customer service phone number is 800-934-6489. If you want to bypass the phones, you can contact Xfinity online at Xfinity Support, where you can chat with a representative at all hours of the day, find an Xfinity location near you or visit a variety of help and support forums.

Where can I find info on Xfinity’s privacy policy?

The Xfinity Privacy Policy is fairly easy to find on its site. Even better, it’s surprisingly thorough and helpful for customers.

For example, there are easy-to-follow instructions on how customers can control what data Comcast/Xfinity collects. In fact, the company’s Manage opt-outs page also includes guidance on how to opt out of data collection via Facebook, Twitter, Google Analytics and more.

“If we share your personal information with other companies for their own marketing and advertising activities, we will first get your consent,” the policy reads, before noting those choices for opting in or out of data-driven marketing.

“We do not sell, and have never sold, information that identifies who you are to anyone,” the policy states. “This includes your internet usage information, video usage information, or call detail information.”

Does Xfinity offer the best internet plans?

Xfinity certainly features some of the greatest variety of plans from which to choose, and it can boast the fastest plan for residential homes with its Gigabit Pro offering. But whether it offers the best internet plan for your home depends on your address, and what other providers may be available to you.

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Iconic Events Signs Up Theater Circuits Representing Over One Thousand Locations As Industry Veteran Steve Bunnell Joins To Be Chief Executive Officer

LOS ANGELES, April 28, 2021 /PRNewswire/ — The fast-growing event cinema company Iconic Events announced today that the company has enlisted theatrical circuits representing over 1,000 locations to the expanding network of theaters playing its programming, and that Steve Bunnell, the respected theatrical distribution and exhibition veteran, is coming on board to lead Iconic’s growth efforts as chief executive officer.

LOS ANGELES, April 28, 2021 /PRNewswire/ — The fast-growing event cinema company Iconic Events announced today that the company has enlisted theatrical circuits representing over 1,000 locations to the expanding network of theaters playing its programming, and that Steve Bunnell, the respected theatrical distribution and exhibition veteran, is coming on board to lead Iconic’s growth efforts as chief executive officer. The announcement was made by Iconic Events Executive Chairman Michael Lambert.

Iconic Events was formed last year by Lambert, a longtime owner of movie theaters, along with former Cinemark CEO Tim Warner and several leading media, exhibition, and entertainment industry entrepreneurs with extensive experience in the industry. The event cinema company was quietly launched after Lambert and Warner consulted with key members of the community, who enthusiastically endorsed the need for exhibition to have more programming choices for their theaters and have since signed up to be part of the Iconic network.

Iconic Events has already become a significant distributor of live sports events and other unique and desirable fan favorite programs. Iconic is focused on working with its theater partners and expanding the variety and types of event cinema content presented in their auditoriums. Event cinema programming includes on stage access to rare concerts, live Q and A’s for premieres of new movies, cast reunions of classic movies, anime, premiere episodes of beloved series from networks and streamers, and even regional and local sports.

Event cinema, defined as non-traditional entertainment released in theaters as special limited-engagement event programming, is the fastest growing segment in exhibition in the United States.

Event cinema’s audience is five times larger in Europe and other international markets than in the U.S. The appointment of Bunnell, one of the industry’s most accomplished and recognized veterans, to lead this new venture is a further sign of Iconic’s commitment to capitalizing on the potential growth opportunity and increased demand for specialized content in this sector. Live and special event programming is built on activating content-specific fandoms and followings, who will share the excitement of new content.

“Iconic Events has had an incredible start by securing the rights to UFC fights, live boxing matches, and other highly desirable and marketable content for distribution to our growing network of movie theaters,” said Lambert. “Steve Bunnell understands the business like few others. His special vision for expanding live and other content through his relationships and experience on both sides of the theatrical aisle at Cinemark, Universal, Regal, and most recently Alamo Drafthouse, makes him uniquely qualified and perfectly suited to lead Iconic as we broaden our programming and extend into categories including concerts, music videos, live Q and A’s for premieres of new movies, cast reunions of classic movies, anime, premiere episodes of beloved series from networks and streamers and even regional and local sports.”

“Now, more than ever, theaters need the additional programming choices like those being offered by Iconic. We already have access to over one thousand theaters representing nearly ten thousand screens in the US, with more live-capable theaters being added every day,” said Bunnell. “There’s enormous potential for growth in this sector of the business in the United States by making this content broadly available to any and all exhibitors, and I’m tremendously excited to be leading Iconic’s efforts. Putting optionality into the hands of exhibition and giving them more choices for their customers couldn’t be more important.”

Fueling growth in the Iconic network is a no-strings approach to building long term relationships with partners. “More and more, the multiplex is seen not just as a local theater. It is a community entertainment center and an event destination. We are delighted to have such fantastic response from our community – they understand their customers want more event cinema in their theaters, and more importantly, they understand the upside for their bottom line – especially right now, when every dollar counts,” said Bunnell.

Iconic Events has already seen significant success with live UFC events, starting in January with the Connor McGregor/Dustin Poirer fight. The company has quickly grown from just a dozen test locations to over 150 live-event-capable theaters that brought the most recent UFC live event to audiences this past weekend. Iconic will also bring audiences the super middleweight fight between Canelo Alvarez and Billy Joe Saunders on May 8 through a new partnership with DAZN, and will bring the rematch of McGregor/Poirer to theaters in the just-announced UFC event on July 10.

Behind Iconic Events is a world-class team of industry leaders. Founded by Michael Lambert, Mark Rupp, Steven Menkin, and Tim Warner, Iconic is dedicated to bringing live and other special events programming to movie theaters.

STEVE BUNNELL is one of the most respected studio executives in the industry and has strong relationships with both exhibition and distribution. His extensive knowledge of the theatrical landscape in the U.S. as well as Latin America has given him a unique perspective in providing a global overview. He joins Iconic Events from Alamo Drafthouse, where he served as SVP, Film Content Buying Licensing, responsible for booking decisions at the chain. He previously served as chief content officer at Regal Entertainment Group, where he led all programming decisions for their 560 locations nationwide, and as EVP/general sales manager for Universal Pictures, where he determined release dates, created distribution plans, and set the sales policy for all Universal films in the domestic marketplace. Bunnell’s prior exhibition experience also included six years as chief content officer for Cinemark based in Dallas and served as head film buyer at Loews Cineplex Theaters in New York City.

MICHAEL LAMBERT has spent the last 40 years in public and private companies acquiring, managing, and growing US and international media and technology businesses, including broadcasting, cable and channel development, digital spectrum management, film and television production and distribution, music, and cinemas. On the film side, Lambert was co-owner and co-chairman of Village Roadshow Pictures Group and for over 25 years has been an owner/operator of exhibition companies including Act III Cinemas, Gold Class Cinemas (sold to iPic), Studio Movie Grill, and Rave Cinemas (sold to Cinemark). Earlier in his career, he served as 20th Century Fox’s president, Domestic Television, responsible for TV production and distribution in the US; executive vice president of HBO, responsible for the co-financing and worldwide distribution of HBO film and television, and president, Viacom, Domestic Television, where he was responsible for US television distribution and new media, including the company’s early activities in cable television.

TIM WARNER is the former CEO of Cinemark, one of the leading exhibition companies in the world, operating 504 theaters, with 5,794 screens in 14 countries. He joined Cinemark in 1996 as senior vice president and president of Cinemark International, leading Cinemark’s efforts to build its international operations for over 10 years. He was later promoted to president and COO of the company, and then CEO and board member as Cinemark became the number one-attended theatrical exhibition company in the world.

MARK RUPP, Iconic Events’ CFO/COO, is a seasoned executive with over 20 years of public and private company experience in the telecommunications and media & entertainment industries. Rupp spent 13 years at Verizon, ultimately as head of Mergers and Acquisitions, then served as executive vice president of Triton Cellular Partners and as chief operating officer of one of the nation’s largest municipal wi-fi systems, known as Wireless Philadelphia. He then became co-founder, director, president & COO of SpectiCast, one of the fastest growing producers, financiers, distributors, and marketers of event cinema worldwide. He went on to serve as managing director of CineLife Entertainment, which delivers world-class event cinema programming to art houses, luxury cinemas, and commercial theater networks.

STEVEN MENKIN, the CMO of Iconic Events, has over 30 years of industry experience as a producer of 17 feature films, documentaries, and TV series, and as a distributor and marketing executive. He has worked with nearly every major studio and the leading independents in the film and entertainment industry. Through his marketing companies Deliver Your Audience and Ingaged, Menkin is an acknowledged and sought-after innovator in consumer digital marketing. With the utilization of the proprietary Open Social marketing tech platform, he has launched over 400 social and digital campaigns that activate, engage, and capture the sharing networks of fans and influencers across social media, which result in direct-to-audience fan databases for Hollywood studio clients including Universal Pictures, Sony Pictures Entertainment, Warner Bros., Lionsgate Films, Fox Television, Fathom Events, Focus Features, Roadside Attractions, and CBS Films. His book publishing clients include Penguin Random House, Dutton, Putnam, Houghton Mifflin Harcourt, St. Martin’s Press, Hachette, Macmillan, and Doubleday.

Iconic is working with content rights holders to distribute fresh and unique programs to satisfy ever-changing moviegoer demands and is focused on some of the most successful genres in event cinema, including live sports and music, anime, new and classic films, fine arts, faith-based programming, talent commentaries, and other added value content. In addition, Iconic is working with musical artists to develop events around album drops, giving them access to a premium communal experience coast to coast, in cities large and small.

For information on the company, or updates on future Iconic Events programs coming to theaters near you, visit www.iconicreleasing.com

FOR MORE INFORMATION:

Steve Elzer
Elzer & Associates
[email protected]
(213
) 392-4660

SOURCE Iconic Events


Related Links

http://www.iconicreleasing.com

REC Philly Helps Local Entrepreneurs Stay Connected through Partnership with Comcast Business

PHILADELPHIA, April 28, 2021 /PRNewswire/ — Comcast Business today announced it has established a partnership with Philadelphia-based organization REC Philly, in which Comcast Business has provided 25 local creators and entrepreneurs with one-year REC memberships, allowing access to REC’s Creative Facility, educational resources and technology made possible through internet connectivity provided by Comcast Business.

PHILADELPHIA, April 28, 2021 /PRNewswire/ — Comcast Business today announced it has established a partnership with Philadelphia-based organization REC Philly, in which Comcast Business has provided 25 local creators and entrepreneurs with one-year REC memberships, allowing access to REC’s Creative Facility, educational resources and technology made possible through internet connectivity provided by Comcast Business.

REC Philly (Resources for Every Creator) is part creative facility and part creative agency. REC offers physical space, digital applications, and tools as well as community support to local creators and entrepreneurs. REC’s mission is to help its members “do more of what they love” by providing them with the resources, education and opportunities to build sustainable and scalable businesses around their talents. In less than four years, Philadelphia natives and co-founders William Toms and David Silver have grown the organization – which hosts musicians, photographers, dancers, videographers, podcasters and designers – to almost 20 employees and have raised over $3 million. Toms and Silver were recently named to the Forbes 30 Under 30 2021 Social Impact list, in recognition of the tools and community REC provides for creatives to pursue their passions.

The 25 creators being sponsored by Comcast Business, many of whom were financially impacted by the COVID-19 pandemic, are able to take advantage of the REC community benefits through the one-year membership sponsored by Comcast Business. REC has been using Comcast Business Ethernet Dedicated Internet (EDI) as its connectivity solution since its opening in 2019. The technology solution, which is capable of delivering up to 1 Gigabit of network capacity, was designed to support members with the large amount of required bandwidth for their creative needs, such as video editing, recording music, designing digital applications and more. The Comcast Business EDI solution will also support REC as it plans for future growth beyond the Philadelphia region, with the goal of serving 100,000 creators worldwide.

Among the creators benefiting from the sponsored member program is Cathie Berrey-Green of BeauMonde Originals, a photo, video, and web design business in Philadelphia. Berrey-Green relies on REC to collaborate with other members, while using the space for creative work like photography and editing. Similarly, art teacher Briana Arrington-Dengoue depends on the fast internet provided by Comcast Business for digital work at REC. Despite accessing multiple, high-bandwidth apps and programs at once, whether for her work as a teacher, freelance artist or master’s student, internet speed and connectivity are no longer a concern for Arrington-Dengoue.

“Connectivity is critical to me in two ways. What I love about REC Philly is the ability to collaborate with so many people. That to me is connectivity with people,” said Cathie Berrey-Green, owner and lead photographer at BeauMonde Originals. “At REC, I can work on a new skill, do some test shots, or I can use some of the equipment and test out different light for my photography. And then I can stay here and do the work needed, because the internet connectivity is so great and works so fast. I can be online, editing through online applications and video conferencing open, and doing email, all at the same time, and I don’t have to worry about my connection. That’s just as invaluable.”

Other sponsored members as part of the Comcast Business program include Rob Mitchell, CEO and founder of creative marketing agency Mitchell Media. Mitchell uses the space for content planning, recording podcasts, holding team meetings, video shoots, and to convene with fellow entrepreneurs and creatives. Similarly, Ryan Harris, founder of non-profit As I Plant This Seed, relies on REC for access and technology to serve youth in the community and teach them about entrepreneurship and financial literacy.

“Whether it’s to access our space or resources, or to connect with other entrepreneurs, there are a number of reasons our members come to REC. Most recently, however, internet speed has become one of the top reasons. Through our partnership with Comcast Business and the high-speed internet and advanced network they provide, we can better cater to the unique needs and success of each of our members,” said David Silver, co-founder and CEO of REC. “Comcast Business has become a true business partner, not just a technology provider. We are so grateful for the support Comcast Business has provided not only to our creators who use REC, but our entire community.”

“Our investment in REC Philly underscores our commitment to entrepreneurs and our local community. Especially in today’s competitive business environment, we understand the importance of access to technology to enable business success,” said Michael Louden, regional vice president for Comcast Business. “It has been our privilege to partner with REC to sponsor membership for entrepreneurs in need, while supporting all members with our technology.”

About Comcast Business:
Comcast Business offers Ethernet, Internet, Wi-Fi, Voice, TV and Managed Enterprise Solutions to help organizations of all sizes transform their business. Powered by an advanced network, and backed by 24/7 technical support, Comcast Business is one of the largest contributors to the growth of Comcast Cable. Comcast Business is the nation’s largest cable provider to small and mid-size businesses and has emerged as a force in the Enterprise market; recognized over the last two years by leading industry associations as one of the fastest growing provider of Ethernet services.

For more information, call 866-429-3085. Follow on Twitter @ComcastBusiness and on other social media networks at http://business.comcast.com/social.

About Comcast Corporation
Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on broadband, aggregation, and streaming with over 56 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information.

About REC:
REC is an ecosystem that exists to empower independent creators to do more of what they love. Part creative facility, part creative agency, REC is a physical space, digital application, and creator community designed and dedicated to providing its members with the resources, education & opportunities to build sustainable & scalable businesses around their talent. REC is A Place For Creators.

SOURCE Comcast; Comcast Business


Related Links

http://business.comcast.com/social

Extreme Networks Reports Third Quarter Fiscal Year 2021 Financial Results

SAN JOSE, Calif., April 28, 2021 /PRNewswire/ — Extreme Networks, Inc. (“Extreme”) (Nasdaq: EXTR) today released financial results for its third fiscal quarter ended March 31, 2021.

Fiscal Third Quarter Results:

  • Revenue $253.4 million, up 21% year-over-year and up 5% quarter-over-quarter
  • GAAP EPS $0.03, up from ($0.37) in Q3 last year
  • Non-GAAP EPS $0.16, up from ($0.09) in Q3 last year
  • GAAP gross margin 58.7% compared to 53.1% in Q3 last year
  • Non-GAAP gross margin 61.5% compared to 56.7% in Q3 last year
  • GAAP operating margin 4.4% compared to (18.3)% in Q3 last year
  • Non-GAAP operating margin 11.3%, compared to (5.1)% in Q3 last year
  • Net cash provided by operating activities of $24.7 million
  • Free Cash Flow of $20.4 million

SAN JOSE, Calif., April 28, 2021 /PRNewswire/ — Extreme Networks, Inc. (“Extreme”) (Nasdaq: EXTR) today released financial results for its third fiscal quarter ended March 31, 2021.

Fiscal Third Quarter Results:

Revenue $253.4 million, up 21% year-over-year and up 5% quarter-over-quarter GAAP EPS $0.03, up from ($0.37) in Q3 last year Non-GAAP EPS $0.16, up from ($0.09) in Q3 last year GAAP gross margin 58.7% compared to 53.1% in Q3 last year Non-GAAP gross margin 61.5% compared to 56.7% in Q3 last year GAAP operating margin 4.4% compared to (18.3)% in Q3 last year Non-GAAP operating margin 11.3%, compared to (5.1)% in Q3 last year Net cash provided by operating activities of $24.7 millionFree Cash Flow of $20.4 million

“Our Q3 results represent the fourth consecutive quarter of sequential revenue growth and double-digit growth year-over-year across all our geographies. Extreme is coming out of COVID in a stronger position than ever before and enterprise customers are turning to Extreme’s industry-leading cloud solutions to meet the new demands of the distributed enterprise. This is highlighted by ExtremeCloud IQ new subscription growth of 122% year-over-year, which in turn fueled product revenue growth of 29% year-over-year,” stated Ed Meyercord, President and CEO of Extreme.

“Looking ahead at Q4, we continue to expect double-digit year-over-year revenue growth as demand for our differentiated cloud-driven networking solutions continues to build. The pace of our cloud innovation for enterprise solutions is accelerating and also underpins the success of our new cloud-native infrastructure solutions in the 5G space,” concluded Meyercord.

“The operating leverage of our model enabled us to achieve a second consecutive quarter of non-GAAP double-digit operating margins. The combination of our strong operating performance and the reduction in inventory resulted in strong cash flow generation. Today, we are fully compliant with our bank covenants ahead of expectations and will realize meaningful interest expense savings beginning in Q4,” stated Rémi Thomas, CFO of Extreme.

Recent Key Highlights:

Extreme was named the Official Wi-Fi Solutions Provider of Major League Baseball (MLB). Extreme will provide fan-facing Wi-Fi in 16 stadiums and connectivity in bullpens and dugouts in all 30 league ballparks. Installations are scheduled through 2026. As part of the partnership, Extreme will also power the network at MLB’s Jackie Robinson Training Complex in Vero Beach, Florida. Through Extreme’s partnership with Verizon, Darlington Raceway will deploy Extreme’s wired, Wi-Fi, and analytics solutions, as well as its network management software, to provide reliable connectivity for the track which previously had no outdoor connection. Extreme installed high-density Wi-Fi 6 access points throughout the venue, enabling Darlington Raceway to enhance fan experiences and ensure all fans in the 60,000-seat venue can connect simultaneously during events. Belgium’s Federal Public Service Justice refreshed its wired network infrastructure with Extreme, allowing it to offer high-speed connectivity across 240 buildings that is 20 times faster than the previous network. The new network supports the digitization of the justice system’s services, including court hearings and other services to be offered remotely. Novant Health of North Carolina used Extreme’s cloud-managed Wi-Fi solutions to power a COVID-19 mass vaccination event that saw over 2,220 vaccines administered in a single day. ExtremeWireless access points were activated in just one hour via ExtremeCloud IQ, enabling quick access to patient records and allowing clinic workers to simultaneously administer vaccines to 120 patients at a time. Lincoln University of Pennsylvania, a top 20 historically black college and university (HBCU) in 2021 according to U.S. News & World Report, and the nation’s first degree-granting HBCU, deployed Extreme wireless access points and ExtremeCloud IQ network management solution to provide high-speed, Wi-Fi 6 connectivity throughout its 422-acre main campus and off-campus graduate center. The deployment has enabled students, faculty, and staff to easily connect with digital education resources from any device, anywhere – a need that became more pronounced with the COVID-19 pandemic and the additional requirement to offer a mix of in-person and remote instruction. Extreme will hold its annual Connect User Conference virtually on May 26-27, broadcasting over 30 unique sessions for customers, partners, and industry leaders worldwide. The online event is free to attend and will include keynote presentations from Extreme’s leadership team, IT strategy breakouts, and practical how-to workshops. Register for Connect at connect.extremenetworks.com.

Fiscal Q3 2021 Financial Metrics:

(in millions, except percentages and per share information)

Q3 FY’21

Q3 FY’20

Change

GAAP Results of Operations

Product

$

176.3

$

136.5

$

39.8

29

%

Service and subscription

77.1

73.0

4.1

6

%

Total net revenue

$

253.4

$

209.5

$

43.9

21

%

Gross margin

58.7

%

53.1

%

560 bps

Operating margin

4.4

%

(18.3)

%

2271 bps

Net income (loss)

$

3.5

$

(44.4)

$

47.9

108

%

Net income (loss) per diluted share

$

0.03

$

(0.37)

$

0.40

108

%

Non-GAAP Results of Operations

Product

$

176.3

$

136.5

$

39.8

29

%

Service and subscription

77.1

73.0

4.1

6

%

Total net revenue

$

253.4

$

209.5

$

43.9

21

%

Gross margin

61.5

%

56.7

%

480 bps

Operating margin

11.3

%

(5.1)

%

1640 bps

Net income (loss)

$

20.7

$

(11.2)

$

31.9

284

%

Net income (loss) per diluted share

$

0.16

$

(0.09)

$

0.25

278

%

Q3 ending cash balance was $203.1 million, an increase of $19.2 million from the end of Q2. This was primarily driven by operating cash flow generation of $24.7 million, partially offset by cash usage of $1.1 million for financing activities, along with $4.3 million for capital expenditures. Q3 accounts receivable balance was $130.6 million, with days sales outstanding of 46, a decrease of 3 days from Q2 and an increase of 4 days from Q3 last year. Q3 ending inventory was $43.9 million, a decrease of $5.9 million from Q2 and a decrease of $22.3 million from Q3 last year. The year-over-year and quarter-over-quarter decreases in inventory largely reflect improved demand planning, SKU rationalization and higher inventory turnover. Q3 ending gross debt* was $351.5 million, a decrease of $4.8 million from the prior quarter. The $74.0 million decrease from Q3 last year resulted primarily from principal payments and payments on our revolver loan. Net debt* of $148.4 million decreased by $23.9 million from $172.3 million in Q2.

Extreme uses the non-GAAP free cash flow metric as a measure of operating performance. Free cash flow represents GAAP net cash provided by operating activities, less purchases of property, plant and equipment. Extreme considers free cash flow to be useful information for management and investors regarding the amount of cash generated by the business after the purchases of property, plant and equipment, which can then be used to, among other things, invest in Extreme’s business, make strategic acquisitions, and strengthen the balance sheet. A limitation of the utility of this non-GAAP free cash flow metric as a measure of financial performance is that it does not represent the total increase or decrease in the Company’s cash balance for the period. The following table shows non-GAAP free cash flow calculation (in thousands):

Free Cash Flow

Three Months Ended

Nine Months Ended

March 31,

2021

March 31,

2020

March 31,

2021

March 31,

2020

Cash flow provided by operations

$

24,725

$

5,150

$

87,496

$

27,061

Less: Property and equipment capital expenditures

(4,279)

(3,192)

(12,318)

(12,630)

Total free cash flow

$

20,446

$

1,958

$

75,178

$

14,431

*Gross debt is defined as long-term and current portion of long-term debt as shown on the balance sheet plus unamortized debt issuance costs. Net debt is defined as gross debt minus cash, as shown in the table below (in millions):

Gross debt

Cash

Net debt

$

351.5

$

203.1

$

148.4

Business Outlook:
Extreme’s business outlook is based on current expectations. The following statements are forward-looking, and actual results could differ materially based on various factors, including market conditions and the factors set forth under “Forward-Looking Statements” below.

For its fourth quarter of fiscal 2021, ending June 30, 2021, the Company is targeting:

(in millions, except percentages and per share information)

Low-End

High-End

FQ4’21 Guidance – GAAP

Total Net Revenue

$

260.0

$

270.0

Gross Margin

57.8

%

58.9

%

Operating Expenses

$

141.0

$

143.0

Operating Margin

3.5

%

5.9

%

Net Income

$

2.6

$

9.4

Net Income per diluted share

$

0.02

$

0.07

Shares outstanding used in calculating GAAP EPS

131.1

131.1

FQ 4’21 Guidance – Non – GAAP

Total Net Revenue

$

260.0

$

270.0

Gross Margin

60.5

%

61.5

%

Operating Expenses

$

131.0

$

133.0

Operating Margin

10.1

%

12.2

%

Net Income

$

20.4

$

25.7

Net Income per diluted share

$

0.16

$

0.20

Shares outstanding used in calculating non-GAAP EPS

131.1

131.1

The following table shows the GAAP to non-GAAP reconciliation for Q4 FY’21 guidance:

Gross Margin

Rate

Operating

Margin Rate

Earnings per

Share

GAAP

57.8% – 58.9%

3.5% – 5.9%

$0.02 – $0.07

Estimated adjustments for:

Amortization of product intangibles

2.1%

2.1%

$0.04

Share-based compensation

0.3%

3.3%

$0.07

Restructuring

0.2%

Amortization of non-product intangibles

0.3%

0.8%

$0.02

Non-GAAP

60.5% – 61.5%

10.1% – 12.2%

$0.16- $0.20

The total of percentage rate changes may not equal the total change in all cases due to rounding.

Conference Call:
Extreme will host a conference call at 8:00 a.m. Eastern (5:00 a.m. Pacific) today to review the third fiscal quarter results as well as the business outlook for fourth fiscal quarter ending June 30, 2021, including significant factors and assumptions underlying the targets noted above. The conference call will be available to the public through a live audio web broadcast via the internet at http://investor.extremenetworks.com and a replay of the call will be available on the website for at least 7 days following the call. The conference call may also be heard by dialing 1 (877) 303-9826 or international 1 (224) 357-2194 with Conference ID # 7695159. Supplemental financial information to be discussed during the conference call will be posted in the Investor Relations section of the Company’s website www.extremenetworks.com including the non-GAAP reconciliation attached to this press release. The encore recording can be accessed by dialing 1 (855) 859-2056 or international 1 (404) 537-3406. Conference ID # 7695159. The encore recording will be available for at least 7 days following the call.

About Extreme:
Extreme Networks, Inc. (EXTR) creates effortless networking experiences that enable all of us to advance. We push the boundaries of technology leveraging the powers of machine learning, artificial intelligence, analytics, and automation. Over 50,000 customers globally trust our end-to-end, cloud-driven networking solutions and rely on our top-rated services and support to accelerate their digital transformation efforts and deliver progress like never before. For more information, visit Extreme’s website or follow us on Twitter, LinkedIn, and Facebook.

Extreme Networks, and the Extreme Networks logo, are trademarks of Extreme Networks, Inc. or its subsidiaries in the United States and/or other countries. Other trademarks shown herein are the property of their respective owners.

Non-GAAP Financial Measures:
Extreme provides all financial information required in accordance with U.S. generally accepted accounting principles (“GAAP”). The Company is providing with this press release non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating margin, non-GAAP operating income, non-GAAP net income, non-GAAP net income per diluted share, and non-GAAP free cash flow. In preparing non-GAAP information, the Company has excluded, where applicable, the impact of share-based compensation, acquisition and integration costs, acquired inventory adjustments, amortization of intangibles, inventory valuation adjustment, and restructuring charges. The Company believes that excluding these items provides both management and investors with additional insight into its current operations, the trends affecting the Company, the Company’s marketplace performance, and the Company’s ability to generate cash from operations. Please note the Company’s non-GAAP measures may be different than those used by other companies. The additional non-GAAP financial information the Company presents should be considered in conjunction with, and not as a substitute for, the Company’s GAAP financial information.

The Company has provided a non-GAAP reconciliation of the results for the periods presented in this release, which are adjusted to exclude certain items as indicated. These measures should only be used to evaluate the Company’s results of operations in conjunction with the corresponding GAAP measures for comparable financial information and understanding of the Company’s ongoing performance as a business. Extreme uses both GAAP and non-GAAP measures to evaluate and manage its operations.

Forward-Looking Statements:
Statements in this press release, including statements regarding those concerning the company’s business outlook and future financial and operating results, are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements speak only as of the date of this release. There are several important factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements. These include, among others, the company’s failure to achieve targeted revenues and forecasted demand from end customers; a highly competitive business environment for network switching equipment and cloud management of network devices; the company’s effectiveness in controlling expenses; the possibility that the company might experience delays in the development or introduction of new technology and products; customer response to the company’s new technology and products; risks related to pending or future litigation; macroeconomic and political and geopolitical factors, a dependency on third parties for certain components and for the manufacturing of the company’s products; and the impacts of COVID-19, and any worsening of the global business and economic environment as a result, on the company’s business.

More information about potential factors that could affect the Company’s business and financial results are described in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2020, Quarterly Report on Form 10-Q for the quarter ended December 31, 2020, and other documents of the Company on file with the Securities and Exchange Commission (available at www.sec.gov). As a result of these risks and others, actual results could vary significantly from those anticipated in this press release, and the company’s financial condition and results of operations could be materially adversely affected. Except as required under the U.S. federal securities laws and the rules and regulations of the U.S. Securities and Exchange Commission, Extreme disclaims any obligation to update any forward-looking statements after the date of this release, whether as a result of new information, future events, developments, changes in assumptions or otherwise.

EXTREME NETWORKS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except per share amounts)

(Unaudited)

March 31,

2021

June 30,

2020

ASSETS

Current assets:

Cash

$

203,139

$

193,872

Accounts receivable, net of allowance for doubtful accounts of $1,259 and $1,212, respectively

130,558

122,727

Inventories

43,924

62,589

Prepaid expenses and other current assets

43,259

35,019

Total current assets

420,880

414,207

Property and equipment, net

56,116

58,813

Operating lease right-of-use assets, net

41,295

51,274

Intangible assets, net

43,893

68,394

Goodwill

331,159

331,159

Other assets

60,333

55,241

Total assets

$

953,676

$

979,088

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Current portion of long-term debt, net of unamortized debt issuance costs of $2,436 and $2,484, respectively

$

21,314

$

16,516

Accounts payable

57,165

48,439

Accrued compensation and benefits

51,382

50,884

Accrued warranty

12,317

14,035

Current portion, operating lease liabilities

19,176

19,196

Current portion, deferred revenue

195,500

190,226

Other accrued liabilities

58,041

58,525

Total current liabilities

414,895

397,821

Deferred revenue, less current portion

122,919

100,961

Long-term debt, less current portion, net of unamortized debt issuance costs of $5,348 and $7,165, respectively

322,402

394,585

Operating lease liabilities, less current portion

37,504

50,238

Deferred income taxes

2,815

2,334

Other long-term liabilities

18,005

27,751

Commitments and contingencies

Stockholders’ equity:

Convertible preferred stock, $0.001 par value, issuable in series, 2,000

shares authorized; none issued

Common stock, $0.001 par value, 750,000 shares authorized; 132,508 and 127,114 shares issued, respectively; 125,911 and 120,517 shares outstanding, respectively

133

127

Additional paid-in-capital

1,069,797

1,035,041

Accumulated other comprehensive loss

(3,012)

(6,378)

Accumulated deficit

(988,669)

(980,279)

Treasury stock at cost: 6,597 and 6,597 shares, respectively

(43,113)

(43,113)

Total stockholders’ equity

35,136

5,398

Total liabilities and stockholders’ equity

$

953,676

$

979,088

EXTREME NETWORKS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

(Unaudited)

Three Months Ended

Nine Months Ended

March 31,

2021

March 31,

2020

March 31,

2021

March 31,

2020

Net revenues:

Product

$

176,334

$

136,547

$

503,575

$

512,173

Service and subscription

77,066

72,972

227,755

220,324

Total net revenues

253,400

209,519

731,330

732,497

Cost of revenues:

Product

76,442

71,927

223,842

254,705

Service and subscription

28,145

26,257

83,465

80,543

Total cost of revenues

104,587

98,184

307,307

335,248

Gross profit:

Product

99,892

64,620

279,733

257,468

Service and subscription

48,921

46,715

144,290

139,781

Total gross profit

148,813

111,335

424,023

397,249

Operating expenses:

Research and development

48,909

50,577

147,619

165,073

Sales and marketing

70,898

70,132

201,955

216,925

General and administrative

16,023

15,119

48,844

45,199

Acquisition and integration costs

5,156

1,975

30,075

Restructuring and related charges, net of reversals

425

6,648

2,121

19,407

Amortization of intangibles

1,406

2,059

4,704

6,366

Total operating expenses

137,661

149,691

407,218

483,045

Operating income (loss)

11,152

(38,356)

16,805

(85,796)

Interest income

81

222

281

1,366

Interest expense

(5,594)

(5,979)

(18,325)

(17,377)

Other income (expense), net

269

1,318

(1,572)

1,128

Income (loss) before income taxes

5,908

(42,795)

(2,811)

(100,679)

Provision for income taxes

2,436

1,557

5,579

4,949

Net income (loss)

$

3,472

$

(44,352)

$

(8,390)

$

(105,628)

Basic and diluted income (loss) per share:

Net income (loss) per share – basic

$

0.03

$

(0.37)

$

(0.07)

$

(0.88)

Net income (loss) per share – diluted

$

0.03

$

(0.37)

$

(0.07)

$

(0.88)

Shares used in per share calculation – basic

124,788

119,162

123,252

119,648

Shares used in per share calculation – diluted

129,988

119,162

123,252

119,648

EXTREME NETWORKS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

Nine Months Ended

March 31,

2021

March 31,

2020

Cash flows from operating activities:

Net loss

$

(8,390)

$

(105,628)

Adjustments to reconcile net loss to net cash provided by operating activities:

Depreciation

17,801

21,719

Amortization of intangible assets

24,501

26,460

Reduction in carrying amount of right-of-use asset

12,129

12,469

Provision for doubtful accounts

270

1,267

Share-based compensation

27,595

26,935

Deferred income taxes

741

1,293

Non-cash restructuring and impairment charges

7,622

Non-cash interest expense

3,195

3,070

Other

2,770

(395)

Changes in operating assets and liabilities, net of acquisitions:

Accounts receivable

(8,101)

88,688

Inventories

11,869

16,373

Prepaid expenses and other assets

(7,908)

438

Accounts payable

7,900

(21,530)

Accrued compensation and benefits

351

(24,009)

Operating lease liabilities

(14,983)

(13,222)

Deferred revenue

27,233

43

Other current and long-term liabilities

(9,477)

(14,532)

Net cash provided by operating activities

87,496

27,061

Cash flows from investing activities:

Capital expenditures

(12,318)

(12,630)

Business acquisitions, net of cash acquired

(219,458)

Maturities and sales of investments

45,249

Net cash used in investing activities

(12,318)

(186,839)

Cash flows from financing activities:

Borrowings under Revolving Facility

55,000

Borrowings under Term Loan

199,500

Payments on debt obligations

(69,250)

(29,767)

Loan fees on borrowings

(10,514)

Repurchase of common stock

(30,000)

Proceeds from issuance of common stock, net of tax withholding

7,167

9,491

Payment of contingent consideration obligations

(1,298)

(3,448)

Deferred payments on an acquisition

(3,000)

(3,000)

Net cash (used in) provided by financing activities

(66,381)

187,262

Foreign currency effect on cash

470

(741)

Net increase in cash

9,267

26,743

Cash at beginning of period

193,872

169,607

Cash at end of period

$

203,139

$

196,350

Extreme Networks, Inc.
Non-GAAP Measures of Financial Performance

To supplement the Company’s consolidated financial statements presented in accordance with U.S. generally accepted accounting principles, (“GAAP”), Extreme uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating margin, non-GAAP operating income, non-GAAP net income, non-GAAP net income per diluted share and non-GAAP free cash flow.

Reconciliation to the nearest GAAP measure of all historical non-GAAP measures included in this press release can be found in the tables included with this press release. In this press release, Extreme also presents its range for projected non-GAAP operating expenses, which is operating expenses less share-based compensation expense, restructuring charges and amortization of intangibles.

Non-GAAP measures presented in this press release are not in accordance with or alternative measures prepared in accordance with GAAP and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Extreme’s results of operations as determined in accordance with GAAP. These non-GAAP measures should only be used to evaluate Extreme’s results of operations in conjunction with the corresponding GAAP measures.

Extreme believes these non-GAAP measures when shown in conjunction with the corresponding GAAP measures enhance investors’ and management’s overall understanding of the Company’s current financial performance and the Company’s prospects for the future, including cash flows available to pursue opportunities to enhance stockholder value. In addition, because Extreme has historically reported certain non-GAAP results to investors, the Company believes the inclusion of non-GAAP measures provides consistency in the Company’s financial reporting.

For its internal planning process, and as discussed further below, Extreme’s management uses financial statements that do not include share-based compensation expense, acquired inventory adjustments, acquisition and integration costs, amortization of intangibles, inventory valuation adjustments, restructuring charges, and the tax effect of non-GAAP adjustments. Extreme’s management also uses non-GAAP measures, in addition to the corresponding GAAP measures, in reviewing the Company’s financial results.

As described above, Extreme excludes the following items from one or more of its non-GAAP measures when applicable.

Share-based compensation. Consists of associated expenses for stock options, restricted stock awards and the Company’s Employee Stock Purchase Plan. Extreme excludes share-based compensation expenses from its non-GAAP measures primarily because they are non-cash expenses that the Company does not believe are reflective of ongoing cash requirement related to its operating results. Extreme expects to incur share-based compensation expenses in future periods.

Acquired inventory adjustments. Purchase accounting adjustments relating to the mark up of acquired inventory to fair value less disposal costs.

Acquisition and integration costs. Acquisition and integration costs consist of specified compensation charges, software charges, legal and professional fees related to the acquisition of Aerohive. Extreme excludes these expenses since they result from an event that is outside the ordinary course of continuing operations.

Amortization of intangibles. Amortization of intangibles includes the monthly amortization expense of intangible assets such as developed technology, customer relationships, trademarks and order backlog. The amortization of the developed technology and order backlog are recorded in cost of goods sold, while the amortization for the other intangibles are recorded in operating expenses. Extreme excludes these expenses since they result from an intangible asset and for which the period expense does not impact the operations of the business and are non-cash in nature.

Inventory valuation adjustments. Adjustments relating to the mark down of inventory due to duplication of products lines with acquisition of Aerohive net of recoveries on the sale of inventory marked down in previous quarters.

Restructuring charges. Restructuring charges primarily consist of severance costs for employees which have no benefit to continuing operations and impairment of right-of-use assets, long-lived assets and other charges related to excess facilities. Extreme excludes restructuring expenses since they result from events that occur outside of the ordinary course of continuing operations.

Tax effect on non-GAAP adjustments. Beginning with our first quarter of fiscal 2021, we changed how we calculate our non-GAAP provision for income taxes in accordance with the SEC guidance on non-GAAP Financial Measures Compliance and Disclosure Interpretation. Previously, the non-GAAP tax provision consisted of current and deferred income tax expense on a GAAP basis as if our carryforward net operating losses were sufficient to offset our non-GAAP adjustments. Beginning with our first quarter of fiscal 2021, we have assumed our U.S. federal and state net operating losses would have been fully consumed by the historical non-GAAP financial adjustments, eliminating the need for a full valuation allowance against our U.S. deferred tax assets which, consequently, enables our use of research and development tax credits which were previously not utilizable. The non-GAAP tax provision now consists of current and deferred income tax expense commensurate with the non-GAAP measure of profitability using our blended U.S. statutory tax rate of 24.2%. We have adjusted the fiscal 2020 non-GAAP tax provision to reflect the 2020 non-GAAP operating results to be comparable with fiscal 2021 results. As a result of this change, the non-GAAP net loss for the three months ended March 31, 2020 changed from $0.14 per diluted share as previously reported to $0.09 net loss per diluted share and the non-GAAP net income for the nine months ended March 31, 2020 changed from $0.08 per diluted share as previously reported to $0.09 net income per diluted share.

This change will not affect our non-GAAP income (loss) before income taxes, actual cash tax payments or cash flows, but will result in a higher or lower non-GAAP provision for income taxes depending on the level and jurisdictional mix of pre-tax income and available U.S. research and development tax credits. As of June 30, 2020, we had U.S. federal net operating loss carryforwards of $310 million and state net operating loss carryforwards of $181 million. We do not expect to pay substantial taxes on a GAAP basis in the U.S. for the foreseeable future due to our net operating loss carryforward balances. Over the near term, most of our cash taxes will continue to be mainly driven by the tax expense of our foreign subsidiaries which amounts have not historically been significant, with the exception of the Company’s Irish operating company which has fully utilized available net operating loss carryforwards as of the second quarter of fiscal 2021. We also believe our long-term effective GAAP tax rate will be lower than the U.S. statutory rate based upon our established tax structure.

EXTREME NETWORKS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

GAAP TO NON-GAAP RECONCILIATION

(In thousands, except percentages and per share amounts)

(Unaudited)

Revenues

Three Months Ended

Nine Months Ended

March 31,

2021

March 31,

2020

March 31,

2021

March 31,

2020

Revenues – GAAP

$

253,400

$

209,519

$

731,330

$

732,497

Non-GAAP Gross Margin

Three Months Ended

Nine Months Ended

March 31,

2021

March 31,

2020

March 31,

2021

March 31,

2020

Gross profit – GAAP

$

148,813

$

111,335

$

424,023

$

397,249

Gross margin – GAAP percentage

58.7

%

53.1

%

58.0

%

54.2

%

Adjustments:

Share-based compensation expense

709

648

2,092

2,152

Acquired inventory adjustments

7,303

Acquisition and integration costs

187

10

2,071

Amortization of intangibles

6,431

6,538

19,697

19,797

Inventory valuation adjustments

3,677

Total adjustments to GAAP gross profit

$

7,140

$

7,373

$

21,799

$

35,000

Gross profit – non-GAAP

$

155,953

$

118,708

$

445,822

$

432,249

Gross margin – non-GAAP percentage

61.5

%

56.7

%

61.0

%

59.0

%

Non-GAAP Operating Income (Loss)

Three Months Ended

Nine Months Ended

March 31,

2021

March 31,

2020

March 31,

2021

March 31,

2020

GAAP operating income (loss)

$

11,152

$

(38,356)

$

16,805

$

(85,796)

GAAP operating income (loss) percentage

4.4

%

(18.3)

%

2.3

%

(11.7)

%

Adjustments:

Share-based compensation expense, cost of revenues

709

648

2,092

2,152

Share-based compensation expense, R&D

2,414

2,518

7,380

8,213

Share-based compensation expense, S&M

3,150

1,338

9,036

8,568

Share-based compensation expense, G&A

2,925

2,639

9,087

7,523

Inventory valuation adjustments

3,677

Acquisition and integration costs

5,343

1,985

32,146

Restructuring charges, net of reversals

425

6,648

2,121

19,407

Acquired inventory adjustments

7,303

Amortization of intangibles

7,837

8,597

24,401

26,163

Total adjustments to GAAP operating income (loss)

$

17,460

$

27,731

$

56,102

$

115,152

Non-GAAP operating income (loss)

$

28,612

$

(10,625)

$

72,907

$

29,356

Non-GAAP operating income (loss) percentage

11.3

%

(5.1)

%

10.0

%

4.0

%

Non-GAAP net income (loss)

Three Months Ended

Nine Months Ended

March 31,

2021

March 31,

2020

March 31,

2021

March 31,

2020

GAAP net income (loss)

$

3,472

$

(44,352)

$

(8,390)

$

(105,628)

Adjustments:

Share-based compensation expense

9,198

7,143

27,595

26,456

Inventory valuation adjustments

3,677

Acquisition and integration costs

5,343

1,985

32,146

Restructuring charge, net of reversal

425

6,648

2,121

19,407

Acquired inventory adjustments

7,303

Amortization of intangibles

7,837

8,597

24,401

26,163

Tax effect of non-GAAP adjustments

(259)

5,380

(94)

1,276

Total adjustments to GAAP net income (loss)

$

17,201

$

33,111

$

56,008

$

116,428

Non-GAAP net income (loss)

$

20,673

$

(11,241)

$

47,618

$

10,800

Earnings per share

Non-GAAP net income (loss) per share-diluted

$

0.16

$

(0.09)

$

0.38

$

0.09

Shares used in net income (loss) per share – diluted:

GAAP Shares used in per share calculation – basic

124,788

119,162

123,252

119,648

Potentially dilutive equity awards

5,200

0

2,855

3,063

GAAP and Non-GAAP shares used in per share calculation – diluted

129,988

119,162

126,107

122,711

SOURCE Extreme Networks, Inc.


Related Links

http://www.extremenetworks.com

Silicon Labs Announces Record Quarterly Revenue

AUSTIN, Texas, April 28, 2021 /PRNewswire/ — Silicon Labs (NASDAQ: SLAB), a leading provider of silicon, software and solutions for a smarter, more connected world, today reported financial results for its first quarter ended April 3, 2021.

AUSTIN, Texas, April 28, 2021 /PRNewswire/ — Silicon Labs (NASDAQ: SLAB), a leading provider of silicon, software and solutions for a smarter, more connected world, today reported financial results for its first quarter ended April 3, 2021. Revenue exceeded the top end of our initial guidance at $255.5 million, up from $242.9 million in the fourth quarter. First quarter GAAP and non-GAAP diluted earnings per share (EPS) were $0.29 and $0.91, respectively.

“Despite significant supply constraints, strong bookings and durable demand momentum drove first quarter revenue to a new record of $255.5 million led by record revenue in IoT which grew 7% sequentially and 34% year-on-year,” said Tyson Tuttle, CEO of Silicon Labs. “We continue to lead the market in wireless connectivity for a vast array of intelligent solutions. Last week’s announcement to become a pure-play leader of intelligent, wireless connectivity for the IoT coupled with the global economic recovery from the pandemic fuels our excitement to capitalize on the massive growth opportunity in front of us.”

First Quarter Financial Highlights

IoT revenue increased to $158.2 million, up 7% sequentially and 34% year-on-year. Infrastructure and Automotive revenue increased to $97.3 million, up 2% sequentially and flat year-on-year.

On a GAAP basis:

GAAP gross margin was 58.9%. GAAP R&D expenses were $76 million. GAAP SG&A expenses were $52 million. GAAP operating income as a percentage of revenue was 8.7%. GAAP diluted earnings per share was $0.29.

On a non-GAAP basis, excluding the impact of stock compensation, amortization of acquired intangible assets, restructuring charges, non-cash interest expense and other costs associated with convertible notes, and certain other items as set forth in the reconciliation tables below:

Non-GAAP gross margin was 59.1%. Non-GAAP R&D expenses were $61 million. Non-GAAP SG&A expenses were $42 million. Non-GAAP operating income as a percentage of revenue was 18.7%. Non-GAAP diluted earnings per share were $0.91.

Product Highlights

Announced the extension of its award-winning xG22 platform with the launch of the EFM32PG22 (PG22), a new low-cost high performance 32-bit microcontrollers (MCUs). The PG22 has an industry-leading combination of energy efficiency, performance and security ideally suited for rapid development of consumer and industrial applications with demanding size constraints and low power operational requirements. The PG22 is targeted at high volume, low-powered applications at a price point competitive with 8-bit offerings and which is form factor & code compatible with its wireless counterparts. Introduced new SmartClock™ features to its family of AEC-Q100 qualified Si5332-AM clock generators expanding the capabilities of the industry’s broadest portfolio of silicon-based automotive timing solutions. The new SmartClock™ technology actively monitors reference clocks to detect potential faults and provides built-in clock redundancy. Introduced the new Hi823Hx Gate Driver Board, an all-in-one isolation solution perfectly suited for the recently launched Wolfspeed WolfPACK™ power module. Wolfspeed power modules are used across numerous power applications, including EV chargers and motor drives in the industrial and automotive markets. Featuring the Si823Hx isolated gate driver and Si88xx digital isolator with integrated dc-dc converter, the board delivers excellent performance in a compact and cost-effective design, optimized for a wide range of modules.

Business Highlights

Entered into a definitive asset purchase agreement to sell the Infrastructure & Automotive (I&A) business to Skyworks Solutions, Inc. (NASDAQ: SWKS) for $2.75 billion in all-cash consideration. The transaction includes Silicon Labs’ power/isolation, timing and broadcast products, intellectual property and associated employees. The company’s resulting focus on IoT comes at a time when the overall market and Silicon Labs’ growth opportunities are accelerating, as industry projections anticipate a multi-year ramp in connected devices. AppointedMatt Johnson to president. Johnson previously served as senior vice president and general manager of Silicon Labs’ IoT business unit. AppointedDaniel Cooley to chief technology officer, reporting to Matt Johnson. Cooley previously served as chief strategy officer and replaces Alessandro Piovaccari, who stepped down as chief technology officer but will continue to serve Silicon Labs as a technical advisor. Appointed Dr. Manish Kothari to the IoT leadership team. As vice president of Silicon Labs India, Kothari will grow the wireless engineering talent, build scalable infrastructure, and foster local partnerships in Hyderabad, the company’s newest and fastest-growing wireless development center. Officially became the world’s first silicon innovator to achieve PSA Certified‘s highest level of IoT hardware and software security protection. PSA Certified – a respected security body for IoT hardware, software and devices co-founded by ARM – awarded PSA Certified Level 3 status to Silicon Labs’ EFR32MG21, a wireless SoC with Secure Vault. Announced a collaboration with Edge Impulse to enable rapid development and deployment of machine learning (ML) on Silicon Labs EFR32 wireless SoCs and EFM32 MCUs. Implementation of the Edge Impulse tool enables complex motion detection, sound recognition and image classification on low-power, memory-constrained, and remote edge devices. Announced a collaboration with Yeelight on a new smart LED light bulb to support Seamless Setup in the Google Home app. The Yeelight Smart LED Bulb M2 multi-color light bulb is designed with Silicon Labs’ Bluetooth BG21 SoC, enabling reliable wireless connectivity and allowing users to connect and control smart home devices in the Google Home app without requiring other applications. Collaborated with Allterco Robotics to introduce Shelly Motion, a next-generation motion sensor with unrivaled battery life enabled by Silicon Labs’ Wi-Fi IoT solution. Shelly Motion is the first product to combine Shelly’s innovative home automation sensors with the only industry-leading Wi-Fi solution designed to meet the ultra-low power requirements of IoT sensors. Optimized with Silicon Labs’ Wi-Fi technology, Shelly Motion is the most responsive, energy-efficient, and easy-to-use smart home Wi-Fi motion sensor on the market today.

Business Outlook

The company expects second quarter revenue to be in the range of $262 to $272 million, with IoT roughly flat to the first quarter, limited by supply, and Infrastructure & Automotive up, and estimates the following:

On a GAAP basis:

GAAP gross margin between 57% and 58% GAAP operating expenses at approximately $130 millionGAAP effective tax rate of 7%. GAAP diluted earnings per share between $0.28 and $0.38.

On a non-GAAP basis, excluding the impact of stock compensation, amortization of acquired intangible assets, restructuring charges, non-cash interest expense and other costs associated with convertible notes, and certain other items as set forth in the reconciliation tables below:

Non-GAAP gross margin between 57% and 58%. Non-GAAP operating expenses at approximately $104 million. Non-GAAP effective tax rate at 11.5%. Non-GAAP diluted earnings per share between $0.88 and $0.98

Webcast and Conference Call

A conference call discussing the quarterly results will follow this press release at 7:30 a.m. Central time. An audio webcast will be available on Silicon Labs’ website (www.silabs.com) under Investor Relations. A replay will be available after the call at the same website listed above or by calling 1 (877) 344-7529 (US) or (412) 317-0088 (International) and entering access code 10154019. The replay will be available through May 5, 2021.

About Silicon Labs

Silicon Labs (NASDAQ: SLAB) is a leading provider of silicon, software and solutions for a smarter, more connected world. Our award-winning technologies are shaping the future of the Internet of Things, Internet infrastructure, industrial automation, consumer and automotive markets. Our world-class engineering team creates products focused on performance, energy savings, connectivity and simplicity. silabs.com

Forward-Looking Statements

This press release contains forward-looking statements based on Silicon Labs’ current expectations. The words “believe,” “estimate,” “expect,” “intend,” “anticipate,” “plan,” “project,” “will” and similar phrases as they relate to Silicon Labs are intended to identify such forward-looking statements. These forward-looking statements reflect the current views and assumptions of Silicon Labs and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Among the factors that could cause actual results to differ materially from those in the forward-looking statements are the following: the occurrence of any event, change or other circumstance that could give rise to the termination of the Skyworks asset purchase agreement; the failure to satisfy any of the conditions to the completion of such transaction; the effect of such transaction on the ability of Silicon Labs to retain and hire key personnel and maintain relationships with its customers, suppliers, advertisers, partners and others with whom it does business, or on its operating results and businesses generally; risks associated with the disruption of management’s attention from ongoing business operations due to such transaction; the ability to meet expectations regarding the timing and completion of such transaction, including with respect to receipt of required regulatory approvals; the impact of COVID-19 on the U.S. and global economy, including the restrictions on travel and transportation and other actions taken by governmental authorities and disruptions to the business of our customers or our global supply chain that have occurred or may occur in the future, the ongoing impact of COVID-19 on our employees and our ability to provide services to our customers and respond to their needs; risks that Silicon Labs may not be able to maintain its historical growth; quarterly fluctuations in revenues and operating results; difficulties developing new products that achieve market acceptance; risks associated with international activities (including trade barriers, particularly with respect to China); intellectual property litigation risks; risks associated with acquisitions and divestitures; product liability risks; difficulties managing Silicon Labs’ distributors, manufacturers and subcontractors; dependence on a limited number of products; absence of long-term commitments from customers; inventory-related risks; difficulties managing international activities; risks that Silicon Labs may not be able to manage strains associated with its growth; credit risks associated with its accounts receivable; dependence on key personnel; stock price volatility; geographic concentration of manufacturers, assemblers, test service providers and customers in Asia that subjects Silicon Labs’ business and results of operations to risks of natural disasters, epidemics or pandemics, war and political unrest; debt-related risks; capital-raising risks; the competitive and cyclical nature of the semiconductor industry; average selling prices of products may decrease significantly and rapidly; information technology risks; cyber-attacks against Silicon Labs’ products and its networks and other factors that are detailed in the SEC filings of Silicon Laboratories Inc. Silicon Labs disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. References in this press release to Silicon Labs shall mean Silicon Laboratories Inc.

Note to editors: Silicon Laboratories, Silicon Labs, the “S” symbol, and the Silicon Labs logo are trademarks of Silicon Laboratories Inc. All other product names noted herein may be trademarks of their respective holders.

Silicon Laboratories Inc.

Condensed Consolidated Statements of Income

(In thousands, except per share data)

(Unaudited)

Three Months Ended

April 3,
2021

April 4,
2020

Revenues

$255,505

$214,877

Cost of revenues

104,922

85,711

Gross profit

150,583

129,166

Operating expenses:

Research and development

76,474

71,223

Selling, general and administrative

51,950

53,996

Operating expenses

128,424

125,219

Operating income

22,159

3,947

Other income (expense):

Interest income and other, net

2,875

3,251

Interest expense

(11,324)

(5,541)

Income before income taxes

13,710

1,657

Provision (benefit) for income taxes

201

(587)

Net income

$ 13,509

$ 2,244

Earnings per share:

Basic

$ 0.31

$ 0.05

Diluted

$ 0.29

$ 0.05

Weighted-average common shares outstanding:

Basic

44,160

43,642

Diluted

45,832

44,388

Unaudited Reconciliation of GAAP to Non-GAAP Financial Measures

(In thousands, except per share data)

Non-GAAP Income
Statement Items

Three Months Ended

April 3, 2021

GAAP

Measure

GAAP

Percent of
Revenue

Stock

Compensation
Expense

Intangible
Asset
Amortization

Non-GAAP

Measure

Non-GAAP

Percent of
Revenue

Revenues

$255,505

Gross profit

150,583

58.9%

$ 337

$ —

$150,920

59.1%

Research and

development

76,474

29.9%

7,024

8,390

61,060

23.9%

Selling, general and

administrative

51,950

20.3%

6,466

3,315

42,169

16.5%

Operating income

22,159

8.7%

13,827

11,705

47,691

18.7%

Non-GAAP
Earnings Per Share

Three Months Ended
April 3, 2021

GAAP

Measure

Stock

Compensation Expense*

Intangible
Asset
Amortization*

Investment
Fair Value
Adjustments*

Interest Expense

Adjustments*

Income

Tax

Adjustments

Non-
GAAP
Measure

Net income

$13,509

$13,827

$11,705

$(1,801)

$9,307

$(4,856)

$41,691

Diluted shares

outstanding

45,832

45,832

Diluted earnings

per share

$ 0.29

$ 0.91

* Represents pre-tax amounts

Unaudited Forward-Looking Statements Regarding Business Outlook

(In millions, except per share data)

Business Outlook

Three Months Ending

July 3, 2021

GAAP

Measure

Non-GAAP

Adjustments*

Non-GAAP

Measure

Gross margin

57-58%

0%

57-58%

Operating expenses

$130

$26

$104

Effective tax rate

7%

4.5%

11.5%

Diluted earnings per share – low

$0.28

$0.60

$0.88

Diluted earnings per share – high

$0.38

$0.60

$0.98

* Non-GAAP adjustments include the following estimates: stock compensation expense of $14 million, intangible asset amortization of $12 million, interest expense adjustments of $5 million, and the associated tax impact from the aforementioned items.

Silicon Laboratories Inc.

Condensed Consolidated Balance Sheets

(In thousands, except per share data)

(Unaudited)

April 3,
2021

January 2,
2021

Assets

Current assets:

Cash and cash equivalents

$ 205,224

$ 202,720

Short-term investments

367,708

521,963

Accounts receivable, net

103,699

95,169

Inventories

79,244

66,662

Prepaid expenses and other current assets

105,056

89,307

Total current assets

860,931

975,821

Property and equipment, net

141,000

139,439

Goodwill

631,932

631,932

Other intangible assets, net

154,379

166,084

Other assets, net

82,381

80,211

Total assets

$1,870,623

$1,993,487

Liabilities and Stockholders’ Equity

Current liabilities:

Accounts payable

$ 68,998

$ 54,949

Current portion of convertible debt, net

134,480

Deferred revenue and returns liability

13,450

12,986

Other current liabilities

68,351

82,083

Total current liabilities

150,799

284,498

Convertible debt, net

434,288

428,945

Other non-current liabilities

78,557

80,203

Total liabilities

663,644

793,646

Commitments and contingencies

Stockholders’ equity:

Preferred stock – $0.0001 par value; 10,000 shares authorized; no

shares issued

Common stock – $0.0001 par value; 250,000 shares authorized;

44,749 and 43,925 shares issued and outstanding at

April 3, 2021 and January 2, 2021, respectively

4

4

Additional paid-in capital

199,576

204,359

Retained earnings

1,007,173

993,664

Accumulated other comprehensive income

226

1,814

Total stockholders’ equity

1,206,979

1,199,841

Total liabilities and stockholders’ equity

$1,870,623

$1,993,487

Silicon Laboratories Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Three Months Ended

April 3,
2021

April 4,
2020

Operating Activities

Net income

$ 13,509

$ 2,244

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation of property and equipment

4,529

4,183

Amortization of other intangible assets and other assets

11,705

9,827

Amortization of debt discount and debt issuance costs

6,456

3,736

Loss on extinguishment of convertible debt

3,370

Stock-based compensation expense

13,826

15,313

Deferred income taxes

(3,197)

(2,364)

Changes in operating assets and liabilities:

Accounts receivable

(8,530)

1,542

Inventories

(12,626)

4,777

Prepaid expenses and other assets

(13,621)

23,576

Accounts payable

14,116

2,748

Other current liabilities and income taxes

(13,429)

(9,134)

Deferred revenue and returns liability

464

4,114

Other non-current liabilities

(2,066)

(862)

Net cash provided by operating activities

14,506

59,700

Investing Activities

Purchases of available-for-sale investments

(8,251)

(70,910)

Sales and maturities of available-for-sale investments

161,392

126,920

Purchases of property and equipment

(6,176)

(4,135)

Purchases of other assets

(578)

(370)

Net cash provided by investing activities

146,387

51,505

Financing Activities

Proceeds from revolving line of credit

310,000

Payments on debt

(140,572)

Repurchases of common stock

(16,287)

Payment of taxes withheld for vested stock awards

(17,817)

(16,294)

Net cash provided by (used in) financing activities

(158,389)

277,419

Increase in cash and cash equivalents

2,504

388,624

Cash and cash equivalents at beginning of period

202,720

227,146

Cash and cash equivalents at end of period

$205,224

$615,770

SOURCE Silicon Labs


Related Links

http://www.silabs.com

D-Link Scores Two iF Design Awards for Product Design Excellence

TAIPEI, April 27, 2021 /PRNewswire/ — D-Link Corporation today announced that their DCS-8635LH 2K QHD Pan & Zoom Outdoor Wi-Fi Camera and DCS-8302LH Full HD Outdoor Wi-Fi Camera were winners of this year’s iF Design Award, the world-renowned design prize.

TAIPEI, April 27, 2021 /PRNewswire/ — D-Link Corporation today announced that their DCS-8635LH 2K QHD Pan & Zoom Outdoor Wi-Fi Camera and DCS-8302LH Full HD Outdoor Wi-Fi Camera were winners of this year’s iF Design Award, the world-renowned design prize. D-Link’s DCS-8635LH is an IP65 weather resistant camera with 360-degree field of view in 1440P 2K QHD resolution. Along with AI-based features such as person detection, vehicle detection, and auto-person detection, the DCS-8635LH provides the high-quality surveillance to protect the home. D-Link’s DCS-8302LH is also a weather resistant surveillance camera that allows users to easily monitor their home. Delivering Full HD resolution with 135 field-of-view and AI-based person detection, the DCS-8302LH is the intelligent solution for keeping the home safe.

“We are honored to be recognized with two prestigious iF Design Awards this year and for our smart home cameras to stand out among thousands of entries,” expressed Mark Chen, President of D-Link. “This achievement gives us the confidence to continue creating products of outstanding design quality.”

About the iF DESIGN AWARD

For 67 years, the iF DESIGN AWARD has been recognized as an arbiter of quality for exceptional design. The world’s oldest independent design organization, Hannover-based iF International Forum Design GmbH, organizes the iF Design Award. This year, a 98-member jury reviewed almost 10,000 entries submitted from 52 countries. Submissions are awarded in the following disciplines: Product, Packaging, Communication and Service Design, Architecture and Interior Architecture as well as Professional Concept, User Experience (UX) and User Interface (UI).

About D-Link

D-Link is a global leader in connecting people, businesses, and cities with our computer networking solutions and technology. Our innovative products and services meet the needs of digital home consumers, small to medium sized businesses, enterprise environments, and service providers. D-Link implements and supports unified network solutions that integrate capabilities in switching, wireless, broadband, IP surveillance, and cloud-based network management. An award-winning designer, developer, and manufacturer for over 30 years, D-Link has grown from a group of friends in Taiwan into a global brand with over 2,000 employees in 60 countries.

For more information, visit https://www.dlink.com/.

SOURCE D-Link Corporation