F5 Networks Q4 beats, shares rise

Reuters News
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Posted: Oct 25, 2011 5:35 PM

(Reuters) - Network equipment maker F5 Networks Inc reported better-than-expected fourth-quarter results as product sales jumped 20 percent, sending its shares up more than 5 percent in after-hours trading.

The company, however, forecast a first quarter in line with estimates. For the first quarter, F5 projected a profit of 99 cents to $1.01 a share, excluding items, on revenue of $315-$320 million.

Analysts were looking for adjusted earnings of $1 a share and revenue of $320 million, according to Thomson Reuters I/B/E/S.

July-Sept net income rose to $67.6 million, or 84 cents a share, from $48.2 million, or 59 cents a share, a year ago.

Excluding items, the company earned $1.06 a share, while revenue rose 24 percent to $314.6 million.

Analysts had expected an adjusted profit of 98 cents a share, on revenue of $308.5 million, according to Thomson Reuters I/B/E/S.

The company's shares rose to $93.50 in extended trading. They closed at $88.76 on Tuesday on Nasdaq.

(Reporting by Sayantani Ghosh in Bangalore; Editing by Viraj Nair)