Network equipment maker F5 Networks has reported a 44% increase in net income to $28.35m for the fourth quarter 2009, compared to a net income of $19.7m in the year-ago quarter. Revenue increased 2% to $175.13m. Skip related content
Operating income grew 56% to $40.15m, while diluted EPS rose 50% to $0.36. Cash flow generated from operations was $58.6m. The company said products revenue declined 6% to $108.8m, while services revenue increased 19% to $66.25m.
For fiscal 2009, F5 Networks reported a 23% increase in net income to $91.53m compared to a net income of $74.33m a year ago. Revenue increased marginally to $653.07m.
John McAdam, president and chief executive at F5, said: "Bookings were up across all geographic regions, especially in North America, as customers began purchasing equipment for new projects and moving forward with projects they had put on hold during the first half of the year. A slight increase in gross margin combined with strong revenue growth drove our non-GAAP operating margin to just under 32%. As a result, earnings on both GAAP and non-GAAP basis came in well above our guidance for the quarter."
Looking ahead, for the first quarter 2010, the company expects revenue between $182m and $187m and diluted EPS between $0.31 and $0.33.
