FFIV Warns - F5 Networks, Inc. Revises Fiscal Q1 Revenue and Earnings
Lower Than Expected Sales Due to Slowdown in
Internet Infrastructure Spending Cited
SEATTLE--(BUSINESS WIRE)--Dec. 28, 2000--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,
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.
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CONTACT: Robert J. Chamberlain, Chief Financial Officer
F5 Networks
206/505-0800 |
