What happened Shares of Extreme Networks (NASDAQ: EXTR) have tanked today, down by 10% as of noon EST, after the company reported fiscal second-quarter earnings results. The enterprise networking specialist also said that Chief Revenue and Services Officer Robert Gault would be departing. So what Revenue in the fiscal second quarter increased 6% to $267.5 million, which was shy of the $273.2 million in sales analysts were modeling for. That all translated into adjusted earnings per share of $0.13, which was right on target with the consensus estimate. Image source: Getty Images. The tech company is also overhauling its sales organization. Extreme Networks had restructured its sales team last summer, which "created disruption that impacted near-term results," CEO Edward Meyercord said on the conference call with analysts. Gault's departure is related to leadership changes around the company's salesforce, and Extreme Networks has now "consolidated leadership under Pete Doolittle." Now what Gault will remain with Extreme Networks for about another month to assist with the transition and release all claims against the company as part of his separation agreement, receiving over $450,000 in cash payments in the process. Extreme Networks also tweaked its guidance and hopes to improve its adjusted operating margin. "With our revised guidance we now expect to achieve Non-GAAP operating income margins in the 12-13% range by the end of fiscal year 2020," Meyercord said in a statement. "We expect to attain organic growth and our 15% Non-GAAP long term operating margin target in the second half of calendar year 2020." Revenue in the fiscal third quarter is expected to be $255 million to $265 million. Wall Street was projecting $275.3 million in sales. 10 stocks we like better than Extreme NetworksWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Extreme Networks wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of December 1, 2019 Evan Niu, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source