Dex Media (DXM) earnings update.

DXM announced Q1 2015 (March 31, 2015) earnings this morning. Revenues were $406 million, down  from $456 million last year and down from $433 million last quarter and adjusted EBITDA was $143 million down from $173 million last quarter and down from $197 million last year. Overall not a great quarter. Our valuation fell to $21.

DXM is a HOLD despite trading at 1/8^th of our valuation.

http://finance.yahoo.com/news/dex-media-announces-first-quarter-110000895.html

Extreme Networks (EXTR) earnings update.

Extreme announced Q3 2015 (March 31, 2015) earnings this morning. While revenues came in a bit higher than their earnings warning a few weeks ago at $120.4 million, they were down from $143.7 last year and they lost $7.9 million on a Non-GAAP basis. This is about what we expected. Our valuation came in at $6.99 a share versus our projected $7.05 but well below our previous valuation of $9.34. This is a HOLD, hovering on a Sell. They need to cut expenses and/or sell the company.

http://finance.yahoo.com/news/extreme-networks-reports-third-quarter-200200632.html

ARI Networks (ARIS)-update

ARI announced this morning that they had priced a 1.53 million share offering for expected net proceeds of about $4.7 million which they will use to pay off the $1.75 of debt they incurred on their recent acquisition of TASCO and for future acquisitions. They also announced preliminary Q3 2015 results. Revenues are expected to be between $10.1 and $10.3 million and EPS is expected to be $.01 to $.02—about the same as last quarter. We think this stock offering explains the recent price weakness in the stock. HOLD.

http://finance.yahoo.com/news/ari-network-services-inc-announces-120000553.html