Extreme Networks reported disappointing revenue for its second fiscal quarter, which ended Jan. 1.

The Ethernet equipment vendor reported $92.8 million in net revenue for the quarter, down 5% from a year earlier and 9% below UBS Investment Research expectations.

Extreme's net income for the quarter--$5.7 million, or $0.05 per share--while down 43% from a year earlier, was in line with UBS' estimate. (Year-ago earnings include a $3.9-million tax refund.)

In what is typically a strong quarter seasonally, the company's U.S. revenue was down 19% sequentially and 26% from a year earlier, to $31.9 million, or about 34% of the company's total quarterly revenue. Overseas revenue was up 7% from a year earlier to $60.9 million, contributing 66% of quarterly revenue.

Product revenue was down 10% from a year earlier while service revenue was up 9%.

Extreme is in need of better sales execution and new products, UBS analyst Long Jiang wrote in a research note issued this morning. "A slow new-product pipeline and unpredictable sales execution continue to represent a big challenge for Extreme," Jiang wrote.