F5 Networks Reports Financial Results for Third Quarter of Fiscal 2015
SEATTLE, Wash., July 23 -- For the third quarter of fiscal 2015, F5 Networks, Inc. announced revenue of $483.6 million, up 2 percent from $472.1 million in the prior quarter and 10 percent from $440.3 million in the third quarter of fiscal 2014.
GAAP net income was $93.2 million ($1.29 per diluted share), compared to $85.7 million ($1.18 per diluted share) in the prior quarter and $79.5 million ($1.05 per diluted share) in the third quarter a year ago.
Excluding the impact of stock-based compensation and amortization of purchased intangible assets, non-GAAP net income was $120.2 million ($1.67 per diluted share), compared to $115.3 million ($1.59 per diluted share) in the prior quarter and $104.6 million ($1.39 per diluted share) in the third quarter of last year.
A reconciliation of GAAP net income to non-GAAP net income is included on the attached Consolidated Statements of Operations.
“Solid sequential and year-over-year revenue growth during the quarter was driven primarily by continuing growth in software sales,” said Manny Rivelo, F5 President and Chief Executive Officer. “Within the past three years, quarterly revenue from the sale of software modules and virtual editions has more than doubled, accounting for more than a third of product revenue in Q3. As more of our customers deploy hybrid solutions and adoption of our software modules increases, we believe this trend will continue, augmented by a steady ramp in sales of our cloud-based Silverline subscription offerings.
“From a vertical market perspective, Enterprise and US Federal were significant contributors to the quarter’s revenue gains. Within our geographical regions, the US, the UK and northern Europe all delivered solid year-over-year growth.
“As F5 continues to evolve and adapt our technology to the rapidly changing IT landscape, we believe our strategy, product roadmap, and ongoing investment in people will enable us to drive top-line growth. In the near term, we remain confident that the company can continue to deliver solid year-over-year growth as we adjust our organization and business model to exploit the growing market opportunity for our expanding solutions portfolio,” Rivelo said.
For the quarter ending September 30, 2015, the company has set a revenue goal of $500 million to $510 million with a GAAP earnings target of $1.26 to $1.29 per diluted share and a non-GAAP earnings target of $1.72 to $1.75 per diluted share.
About F5 Networks
F5 provides solutions for an application world. F5 helps organizations seamlessly scale cloud, data center, telecommunications, and software defined networking (SDN) deployments to successfully deliver applications and services to anyone, anywhere, at any time. F5 solutions broaden the reach of IT through an open, extensible framework and a rich partner ecosystem of leading technology and orchestration vendors. This approach lets customers pursue the infrastructure model that best fits their needs over time. The world’s largest businesses, service providers, government entities, and consumer brands rely on F5 to stay ahead of cloud, security, and mobility trends. For more information, go to f5.com.
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Source: F5 Networks
