F5 Networks, Inc. Revises Fiscal Q1 Revenue and Earnings; Lower Than
Expected Sales Due to Slowdown in Internet Infrastructure Spending Cited
SEATTLE, Dec 28, 2000 (BUSINESS WIRE) -- F5 Networks, Inc. (Nasdaq:FFIV), the
leading provider of Internet Traffic and Content Management (iTCM) products,
announced that revenue and earnings for its first quarter ending December 31,
2000, would be below market expectations.
Revenue for the first quarter is now expected to be in the range of $24 million
to $26 million. A loss before taxes of approximately $0.48 to $0.50 per share,
exclusive of restructuring charges, is expected.
Actual results for the quarter ending December 31, 2000 will be reported in the
company's regular quarterly earnings release. At that time the Company will also
revise fiscal year 2001 guidance on revenues and earnings.
John McAdam, President and CEO, F5 Networks, Inc., said, "Sales in the current
quarter have trailed our expectations mainly due to the slowdown in purchasing
of infrastructure related equipment. Market conditions in North America have
softened rapidly, but we are confident that our ability to compete in the
Internet Traffic Management and Content Delivery market will remain strong."
A conference call is scheduled today for 1:00 pm PST. Details for accessing the
call will be available on the Company's website, www.f5.com.
About F5 Networks
F5 Networks is the leader in Internet Traffic and Content Management (iTCM). Our
award winning integrated suite of high-performance best of breed products
provides an end-to-end solution for automatically and intelligently managing
Internet content and traffic -- globally. Our products remove bandwidth
congestion and optimize the availability and speed of mission-critical Internet
servers and applications, including web publishing, content delivery,
e-commerce, caching, firewalls and more. F5 Networks helps companies avoid the
risk of being burdened with ill-performing networks that do not meet end user
expectations, while enabling network administrators to better control and
predict the performance of their e-Business infrastructure. Our products are
widely deployed in large enterprises, the top service providers, financial
institutions, government agencies, healthcare, and portals throughout the world.
The company is headquartered in Seattle, Washington, and has offices throughout
North America, Europe and Asia Pacific. F5 Networks is located on the web at
www.f5.com.
Forward Looking Statements
Statements in this press release concerning F5's expected revenue and earnings
(loss) per share for the first quarter of fiscal 2001, and F5's ability to
compete in the Internet Traffic Management and Content Delivery market and other
statements that are not historical facts are forward-looking statements. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
the Company, or industry results, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. Such factors include, among others: the ability to
close additional sales which result in recognizable first quarter revenue, any
unforeseen expenses, any accounting adjustments made during the quarterly close,
competitive pricing pressures, increased sales discounts, the introduction of
new products by F5 or its competitors or other factors; F5's ability to sustain
or develop distribution relationships; F5's ability to timely develop new
products and features; F5's ability to attract, train and retain qualified
marketing and sales and professional services and customer support personnel;
F5's ability to expand in the international markets and the unpredictability of
F5's sales cycle. More information about potential risk factors that could
affect F5's business and financial results is included in the Company's annual
report on Form 10K for the fiscal year ended September 30, 2000, and other
public filings with the Securities and Exchange Commission.
CONTACT: F5 Networks, Inc.
Bob Chamberlain, 206/272-5555
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KEYWORD: WASHINGTON
INDUSTRY KEYWORD: INTERNET
EARNINGS
COMPUTERS/ELECTRONICS
E-COMMERCE
NETWORKING
CONFERENCE
CALLS
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