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<PAGE>

================================================================================

                      SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 8-K


                                CURRENT REPORT

                      Pursuant to Section 13 or 15(d) of
                      the Securities Exchange Act of 1934

        Date of Report (date of earliest event reported): April 5, 2001


                            EXTREME NETWORKS, INC.
--------------------------------------------------------------------------------
            (Exact name of Registrant as specified in its charter)

<TABLE>
<CAPTION>
              Delaware                          000-25711                        77-0430270
------------------------------------------------------------------------------------------------------------
   <S>                                  <C>                          <C>
   (State or other jurisdiction of      (Commission File Number)     (I.R.S. Employer Identification No.)
   incorporation or organization)
</TABLE>

                              3585 Monroe Street
                         Santa Clara, California 95051
     ___________________________________________________________________
         (Address, including zip code, of principal executive offices)


              Registrant's telephone number, including area code:

                                (408) 579-2800


                                Not Applicable
--------------------------------------------------------------------------------
         (Former name or former address, if changed since last report)


================================================================================
<PAGE>

Item 5.   Other Events.
          ------------

          Attached hereto as Exhibit 99.1 and incorporated by reference herein
          is financial information for Extreme Networks for the fiscal quarter
          ended March 31, 2001 and forward-looking statements relating to 2001
          as presented in a press release dated April 5, 2001.

Item 7.         Financial Statements and Exhibits.
                ---------------------------------

          (c)   Exhibits

          99.1  Financial information for Extreme Networks for the fiscal
                quarter ended March 31, 2001 and forward-looking statements
                relating to 2001.
<PAGE>

                                  SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                            EXTREME NETWORKS, INC.
                            (Registrant)


Dated: April 6, 2001        By:  /s/ Vito Palermo
                                ------------------------------------------------
                                   Vito Palermo
                                   Vice President, Chief Financial Officer and
                                   Secretary
<PAGE>

                                 EXHIBIT INDEX


Exhibit No.         Description
--------------------------------------------------------------------------------
99.1           Press release dated April 5, 2001 announcing financial
               information for Extreme Networks for the fiscal quarter ended
               March 31, 2001 and forward-looking statements relating to 2001.
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>dex991.txt
<DESCRIPTION>PRESS RELEASE DATED APRIL 5, 2001
<TEXT>

<PAGE>

                                                                    EXHIBIT 99.1


FOR IMMEDIATE RELEASE

For more information, contact:

Extreme Networks:
Vito Palermo                              Valerie Bellofatto
Chief Financial Officer                   Sr. Director of Public Relations
408/579-3030                              408/579-2963
investor-relations@extremenetworks.com    vbellofatto@extremenetworks.com
--------------------------------------    -------------------------------


EXTREME NETWORKS ANNOUNCES PRELIMINARY THIRD QUARTER RESULTS

SANTA CLARA, Calif., April 5, 2001 - Citing weak economic conditions, Extreme
Networks, Inc. (Nasdaq: EXTR) today announced that it expects revenue for the
third quarter ended March 31, 2001 will be approximately $110 to $115 million.
Based on these revenues, the Company expects to report a pro forma loss of
approximately $0.06 to $0.08 per share for the quarter. This estimated loss
excludes estimated charges for the third quarter and fourth quarter. The Company
also announced that it would reduce its expenses, including workforce
reductions, resulting in an approximate 10 percent reduction in the Company's
overall cost structure.

The Company expects to take restructuring charges of approximately $2 million
related to excess facilities in the third quarter and charges of approximately
$4 million for employee-related termination costs in the fourth quarter. In
addition, the Company expects to take third quarter charges of approximately $41
million, consisting of asset impairments, write downs for minority investments,
and excess inventory.

"Despite these challenging economic times, it's essential to stay focused and
continue to make long-term strategic investments that strengthens Extreme
Networks in the marketplace," said Gordon Stitt, president and CEO of Extreme
Networks. "With the acquisitions of Optranet and WebStacks, made during the
third quarter, we have significantly improved our position in both the
enterprise and service provider sectors."
<PAGE>

Extreme Networks will host a conference call to further discuss these
preliminary results at 2:30 p.m. PST today, available via webcast at
www.extremenetworks.com or dial in at 888/732-8219 in the US, or 415/537-1899
-----------------------
for international callers.  Replay information will be available at
www.extremenetworks.com.  Final results for fiscal third quarter 2001 and full
-----------------------
year outlook is scheduled to be released on April 18, 2001.


About Extreme Networks
----------------------

Extreme Networks, Inc. delivers a simplified approach for building networks
based on its corporate vision of Ethernet Everywhere(TM) networks. The Company's
family of BlackDiamond(R), Alpine(TM), and Summit(R) switching solutions
incorporate a unique combination of ExtremeWare(R) management software and an
ASIC-based common architecture to provide Global 2000 enterprises,
telecommunications companies, Internet Service Providers and content providers
with the ability to increase the flow of information and accommodate future
network growth.

Headquartered in Santa Clara, Calif., Extreme Networks was listed as the
"Fastest Growing Company in Silicon Valley" based on three-year revenue growth
by the San Jose and Silicon Valley Business Journal. For more information, visit
www.extremenetworks.com
-----------------------

                                     # # #

Extreme Networks, ExtremeWare, BlackDiamond and Summit are registered trademarks
of Extreme Networks, Inc., and Alpine and Ethernet Everywhere are trademarks of
Extreme Networks, Inc., in the United States and other countries.

This announcement contains forward-looking statements regarding our estimates of
revenue and earnings per share for the third quarter ended March 31, 2001, an
expected charge for the fourth quarter, and activity in new markets. These
statements involve risks and uncertainties and final results could differ
materially from those projected in the forward-looking statements as a result of
certain risk factors, including, but not limited to: (i) any significant
inaccuracy in the accounting information available to us or any inaccuracy in
the assumptions we have made in estimating charges for the third quarter and
fourth quarter and (ii) risks associated with the commencement of our efforts in
new areas, including the risk of failure to timely and successfully introduce
new products for new markets. More information about potential factors that
could affect our business and financial results is included in our
<PAGE>

Annual Report on Form 10-K for the year ended June 30, 2000, and the Quarterly
Report on Form 10-Q for the period ended December 31, 2000, including, without
limitation, under the captions: "Management's Discussion and Analysis of
Financial Condition and Results of Operations," and "Risk Factors," which are on
file with the Securities and Exchange Commission (http://www.sec.gov).
</TEXT>
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