FFIV meets expectations:
crn.com
F5 Networks Posts Flat 3Q Revenue
By Jennifer Hagendorf Follett, CRN
Seattle 6:10 PM EST Wed., July 25, 2001
F5 Networks Wednesday reported flat
revenue on a loss of just less than $1 million
for its third quarter, beating analysts'
estimates by a penny.
For the quarter ended June 30, F5 reported
revenue of $29 million, compared with $29.2
million the same quarter a year ago.
The Internet traffic and content management
device vendor reported a loss prior to taxes of
$982,000, or 4 cents per share, compared
with a profit of $5.2 million, or 24 cents per
share, the same quarter a year ago.
Analysts' expected a loss of 5 cents per
share, according to First Call/Thompson
Financial.
"Although it is still tough to extract purchase
orders from customers in this business climate,
the pipeline and selling activity remains very
strong," said John McAdam, president and CEO
of F5, in a conference call.
The company issued guidance that revenue
would remain flat for the fourth quarter, with
McAdam dubbing the fourth-quarter outlook "a
temporary pause in the momentum we are building."
F5 added several new clients during the quarter, including AT&T Wireless,
Metro One, Dow Chemical and State Farm Insurance, continuing the
company's efforts to transition from dot-com customers to large
enterprise customers, McAdam said. Enterprises now make up between
80 percent and 90 percent of F5's customer base, he said.
The vendor also plans to launch a new IP application switch in
September, he said.
Shares of F5 closed down 72 cents at $13.10 prior to the announcement. |
