Revenue rises 2% YoY in fiscal 2Q16
Last week, F5 Networks (FFIV) announced its fiscal 2Q16 results and reported revenue of $483.7 million, a rise of 2% YoY (year-over-year) compared to $472.1 million in fiscal 2Q15.
FFIV’s GAAP (generally accepted accounting principles) net income was $75.4 million, and its earnings per share (or EPS) were $1.11 in fiscal 2Q16, compared to net income of $85.7 million and EPS of $1.18 in fiscal 2Q15.
Excluding the impact of patent litigation expenses, stock-based compensation, and amortization of purchased intangible assets, non-GAAP net income for fiscal 2Q16 was $114 million, or $1.68 per diluted share, compared to $115.3 million, or $1.59 per diluted share, in fiscal 2Q15.
Analysts had estimated revenue of $486.2 million and EPS of $1.63 for FFIV.
CEO: “Pleased with our execution”
“Given the backdrop of a continued difficult macro and spending environment, I was pleased with our execution, as we delivered revenue within our guided range while maintaining solid profitability.” said John McAdam, F5 Networks’ president and CEO.
McAdam continued, “In addition, sales of our Better/Best software bundles, Virtual Editions, and Silverline subscription services all grew during the quarter as customers continued to embrace hybrid strategies and venture into public and private clouds.”
For fiscal 3Q16, F5 Networks has set a revenue goal of $490 million–$500 million, with a GAAP EPS target of $1.29–$1.32 per diluted share and a non-GAAP EPS target of $1.77–$1.8 per diluted share.
Peer companies Cisco (CSCO), Juniper (JNPR), and Motorola Solutions (MSI) will be announcing their quarterly results on May 13, 2016, April 28, 2016, and May 4, 2016, respectively. Cisco accounts for 3.7% of the PureFunds ISE Cyber Security ETF (HACK).