F5 Networks Falls 18% After Releasing Results (FFIV)

Seattle, Washington based F5 Networks, Inc.

late on Wednesday released financial results, which sent its stock price falling nearly 20%. F5 Networks, Inc reported that its 1st quarter net income climbed to $55.7 million, or 68 cents per share, up from $29.3 million, or 36 cents per share, a year earlier. Excluding special items, the company earned 88 cents per share. F5 Networks, Inc reported revenue of $268.9 million, up 40.7% from $191.2 million a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 83 cents per share, on revenue of $270.34 million. President and chief executive officer John McAdam said, “Solid revenue growth, stable gross margins and disciplined execution enabled us to achieve a non-GAAP operating margin of just over 38 percent. Consistent with our policy of hiring behind revenue, we added 120 new employees, approximately half of them in sales and sales support.” F5 Networks, Inc. (

) ended the Wednesday trading session at $138.78 per share but shares were down 18% during after-hours trading at $112.86 per share. Analysts covering the company's stock have a consensus price target of $127.93 per share. F5 Networks, Inc is the global leader in Application Delivery Networking (

), focused on ensuring the secure, reliable, and fast delivery of applications. Read more