F5 Networks 2008 1Q Profit Falls 21 Pct
AP - Wednesday January 23, 5:38 pm ET
F5 Networks's Fiscal '08 1st-Qtr Profit Slips 21 Pct on Higher Costs; Still Beats Estimates
SEATTLE (AP) -- F5 Networks Inc., which makes software to run computer networks, said Wednesday its fiscal 2008 first-quarter profit fell 21 percent on higher costs and stock-based compensation expense.
For the three months ended Dec. 31, net income fell to $17.8 million, or 21 cents per share, compared with $22.4 million, or 26 cents per share, in the year-ago period.
Excluding stock-based compensation and research and development expenses, the company reported adjusted earnings of $28.8 million, or 33 cents per share, compared with $29.3 million, or 35 cents per share, in the fiscal first quarter of 2007. Analysts polled by Thomson Financial, on average, anticipated earnings of 21 cents per share. Analyst estimates typically exclude one-time, unusual charges.
Revenue rose 29 percent to $154.2 million from $120 million in the first quarter of fiscal 2007. Analysts anticipated sales of $155.4 million.
Operating expenses increased 45 percent to $95.9 million from $66.4 million in the prior-year quarter, led by a big jump in research and development and sales and marketing costs. Total stock-based compensation expense rose to $11.1 million from $6.9 million in the first quarter of 2007.
Shares fell 23 cents to close at $20.18, but jumped $3.84, or 19 percent, to $24.02 in aftermarket trading. The stock has ranged from $18.11 to $46.93 over the past year.
SEATTLE (AP) -- F5 Networks Inc., which makes software to run computer networks, said Wednesday its fiscal 2008 first-quarter profit fell 21 percent on higher costs and stock-based compensation expense.
F5 Networks Approves $200M Buyback
AP - Wednesday January 23, 5:40 pm ET
F5 Networks Plans to Repurchase Up to $200 Million of Common Stock
SEATTLE (AP) -- F5 Networks Inc., which makes software to help manage Internet traffic, said Wednesday its board has approved the repurchase of up to $200 million of its common stock.
The purchases will be made from time to time on the open market or in private transactions, F5 said. The company can decide to modify or cancel the program at any time.
As of Nov. 16, the company had about 84.9 million shares outstanding, according to a regulatory filing.
F5 also reported its fiscal first-quarter earnings Wednesday, and forecast adjusted second-quarter earnings above analyst estimates.
Shares fell 23 cents to close at $20.18, but jumped $3.84, or 19 percent, to $24.02 in aftermarket trading. The stock has ranged from $18.11 to $46.93 over the past year.
SEATTLE (AP) -- F5 Networks Inc., which develops software that manages computer network traffic, said Wednesday it expects fiscal second-quarter earnings between 21 cents and 22 cents per share.
F5 Sees Adjusted 2Q EPS Above Street
AP - Wednesday January 23, 5:37 pm ET
F5 Networks Guides for Adjusted Fiscal 2nd-Qtr Profit Above Analyst Estimates; Shares Rise
SEATTLE (AP) -- F5 Networks Inc., which develops software that manages computer network traffic, said Wednesday it expects fiscal second-quarter earnings between 21 cents and 22 cents per share.
Excluding a pretax stock-based compensation expense of about $10.9 million, the company anticipates adjusted earnings between 33 cents and 34 cents per share for the quarter ending March 31.
The company expects revenue between $158 million and $160 million for the quarter.
Analysts polled by Thomson Financial, on average, forecast earnings of 22 cents per share on sales of $160.8 million. Analyst estimates typically exclude one-time items.
F5 recorded income of $20 million, or 47 cents per share, on sales of $127.6 million in the fiscal second quarter of 2007.
Shares fell 23 cents to close at $20.18, but jumped $3.84, or 19 percent, to $24.02 in aftermarket trading. The stock has ranged from $18.11 to $46.93 over the past year.
F5 Networks: FY Q1 In Line; Q2 Outlook Meets Street; Sets $200M Buyback; Stock Soars After Hours, But Why?
Posted by Eric Savitz - January 23, 2008, 5:28 pm
Clearly, there is something I’m not quite getting about F5 Networks (FFIV).
The company this afternoon reported revenue for its fiscal first quarter ended December 31 of $154.2 million, a tad shy of the Street consensus of $155.4 million. GAAP EPS of 21 cents was in line with expectations; non-GAAP of 33 cents were a penny shy of Street expectations.
For the March quarter, the company sees revenue of $158 million to $160 million, with earnings of 21-22 cents GAAP, 33-34 cents non-GAAP. The Street has been looking for $160.1 million, 22 cents and 35 cents.
F5 also announced a new $200 million stock buyback plan; that would be about 11.6% of the company’s $1.7 billion market cap as of the close.
The buyback is no doubt being well received, but the way the stock has reacted is nonetheless surprising: FFIV is up $3.82 after hours, a gain of 18.9%, to $24.
o~~~ O |
