F5 Networks, Inc. (NASDAQ: FFIV) today announced preliminary results for
the fourth quarter of fiscal 2008, ended September 30. Revenue for the
quarter is expected to be $171.3 million, below the company’s
guidance of $172 million – $174 million. The
company expects to meet or exceed its GAAP and non-GAAP EPS targets for
the quarter.
John McAdam, F5 president and chief executive officer, said results for
the fourth quarter reflect further weakening in the financial vertical
and a sharp slowdown in Europe during the last week of September,
partially offset by a slight rebound in Japan and US Federal revenues
and by strong demand for the company’s new
entry-level products.
“Despite weakness in the global economy,
demand for the BIG-IP 3600 in particular was much stronger than we
initially anticipated,” McAdam said. “During
the month of September alone BIG-IP 3600 sales exceeded our initial
forecast for the entire quarter, resulting in more orders than we could
ship during the quarter.”
McAdam also said the company saw continued strong demand for VIPRION,
the high-end of its BIG-IP product family, among large enterprises and
internet content and service providers.
During the quarter, the company’s balance
sheet continued to strengthen. Cash flow from operations exceeded $50
million. After purchasing an additional $50 million of F5 stock, the
company ended the quarter with cash and investments in excess of $450
million.
Conference Call Today
F5 will host a conference call today at 5:30 a.m. Pacific (8:30 a.m.
Eastern) to discuss its preliminary fourth quarter results.
DIAL-IN NUMBERS: 800-857-3834 (US & Canada); +1-210-839-8222
(International)
CALL LEADER: John McAdam
PASSCODE: F5 NETWORKS
Please call in 10 minutes ahead of time to ensure a proper connection.
If you have any problems or questions, please call F5 NETWORKS, INC.
(206) 272-5555.
To listen to the live webcast, go to http://www.f5.com/about/investor-relations/events-calendar.html
and click on the webcast URL for today’s call.
Conference Call Replays
TELEPHONE REPLAY: Available October 7, 2008 (from 7:30 a.m. Pacific)
through October 8, 2008 (until 5:00 p.m.
