F5 Networks Q1 profit beats Street, outlook strong
Wed Jan 20, 2010 4:57pm EST
* Q1 adj EPS of 52 cents beat estimates by 3 cents
* Q1 revenue beats estimates
* Q2 outlook tops estimates
* Shares rise 1 pct
Jan 20 (Reuters) - F5 Networks Inc (FFIV.O) reported a better-than-expected quarterly profit, helped by strong growth across most regions, especially in North America, and forecast second-quarter results above analyst expectations.
The network-equipment maker forecast second-quarter earnings of 52 cents to 54 cents a share, excluding items, on revenue of $195 million to $200 million.
Analysts were looking for earnings of 48 cents a share, excluding items, on revenue of $186.8 million.
First-quarter net income rose to $29.3 million, or 36 cents per share, from $21.4 million, or 27 cents per share, a year earlier. Excluding items, earnings were 52 cents a share.
Revenue for F5, which competes with Cisco Systems (CSCO.O), Citrix Systems (CTXS.O), Juniper Networks (JNPR.N), rose 16 percent to $191.2 million.
Analysts expected earnings of 49 cents a share, excluding exceptional items, on revenue of $185.7 million, according to Thomson Reuters I/B/E/S.
The Seattle-based company's shares, which have more than doubled their value in the last one year, were up 70 cents at $53.71 in trading after the bell. (Reporting by S. John Tilak in Bangalore; Editing by Aradhana Aravindan)
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