F5 revenue up 21.3% at $352.6 million in Q3 FY12

Telecom Lead America: F5 Networks, a provider of
Application Delivery Networking, has posted revenue of $352.6 million for the
third quarter of fiscal 2012, up 21.3 percent from $290.7 million in the third
quarter of fiscal 2011.

F5’s Product business brought $201.1 million revenue for
Q3 FY12, as compared to $179.3 million for the same quarter a year earlier.

On the other hand, Services segment fetched $145.5
million revenue, as compared to $111.4 million for Q3 FY11.

F5’s net income was $72.3 million for Q3 FY12, as
compared to$62.5 million in the third quarter a year ago.

Operating expenses stood at $182.3 million in Q3 FY12, as
compared to $150 million for the same quarter a year ago.

Overall, revenue growth slowed in Q3, but revenue by
region was generally consistent with historical patterns; 57 percent for the
Americas (primarily the United States) and 43 percent for EMEA and APJ, with
EMEA contributing 21 percent of the total,” said John McAdam, president and
chief executive officer F5.

F5’s security offerings were a key driver of product
sales and accounted for a growing percentage of total revenue.

During the quarter, the company witnessed continued
strong uptake of VIPRION 2400 along with increasing adoption of TMOS version
11. During the next six to nine months, the company reckons that it is on track
to deliver several new products, including a refresh of BIG-IP appliance
family, new policy enforcement capability for service providers and an
eight-blade VIPRION chassis.

Meanwhile, we are continuing to strengthen our
organization and our financial position. In the third quarter, we added 100
employees, increased deferred revenue to $434 million and generated $113
million in cash from operations. After repurchasing 425,088 shares of our
outstanding common stock we ended the quarter with $1.1 billion in cash and
investments,” McAdam added.

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