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Technology Stocks : F5 Networks, Inc. (FFIV) -- Ignore unavailable to you. Want to Upgrade?

To: speedbot who wrote (87)	7/6/1999 6:40:00 PM
From: BRA	Respond to of 1801

Shares Continue Rise as F5 Hires StreetConnect 7/6/99 4:00:00 PM By Raymond Bolger, dbusiness.com SEATTLE, WA, July 6 (dbusiness.com) -- Shares of F5 Networks, a developer of Internet traffic management software, continued an upward trend that started with the company's IPO last month, rising another 13 percent today to $41.84, having hit the market on June 10 at an initial offering price of $10 on 3 million shares. The company announced today it has hired investor relations firm StreetConnect, also based in Seattle, to do the things that an investor relations firm does -- largely, maximize the company's share value in the market. Given F5's performance to date, StreetConnect's services seem somewhat unnecessary. Nevertheless, F5's CFO, Bob Chamberlain, said in a release today that the company is looking to StreetConnect to "help us reach a wider audience of analysts and institutions." On June 30, three firms initiated coverage of F5 (Nasdaq: FFIV) with either a buy or strong buy rating. These include BancBoston Robertson Stephens, Dain Rauscher Wessels and Hambrecht & Quist. F5 provides Internet traffic management solutions designed to improve the performance of mission-critical Internet-based servers and applications. The company's products monitor and manage local and geographically dispersed servers, and intelligently direct traffic to the server best able to handle a user's request. The company's list of over 400 customers includes PSINet, MCI WorldCom, Alaska Airlines, Microsoft, Bank of America, Fidelity, Bell South, Compaq, Motorola, Oracle, Excite@Home, RealNetworks, USA Today, NASA, the Internal Revenue Service and the U.S. Navy. For 1998, the company reported revenues of $4.9 million, a 2,000 percent growth over the year before. Net income for the year was a loss of $3.7 million. F5 employs around 140 people.