Thursday, January 21, 2010

F5 Networks Sees Strong First Quarter

Seattle-based F5 Networks said late Wednesday that it had a strong first quarter, with revenue increases of 9 percent quarter to quarter, and 15 percent year-over-year. The firm said it had revenues of $191.2M, up 9.2 percent from $175.1M in the prior quarter and up from $165.6M in the first quarter last year. The firm said strong product sales drove the revenue increase, particularly in North America, where it said it saw a 24 percent increase year to year in sales. The company said it also manged to add nearly 100 employees in the first quarter as a result of the strong revenue growth and stable gross margins. The company is now expecting revenues of $195M to $200M for the current quarter. F5 is a manufacturer of load balancing and other data center hardware.