F5 Announces Q2 Results

SEATTLE -- F5 Networks, Inc. (NASDAQ:FFIV) announced revenue of $159.1 million for the second quarter of fiscal 2008, up 3 percent from $154.2 million in the prior quarter and 25 percent from $127.6 million in the second quarter of fiscal 2007.

GAAP net income was $17.7 million ($0.21 per diluted share), compared to $17.8 million ($0.21 per diluted share) in the prior quarter and $20.0 million ($0.24 per diluted share) in the second quarter a year ago. Non-GAAP net income was $28.9 million ($0.35 per diluted share), compared to $28.8 million ($0.33 per diluted share) in the prior quarter and $29.2 million ($0.34 per diluted share) in the second quarter of fiscal 2007.

A reconciliation of GAAP net income to non-GAAP net income is included on the attached Consolidated Statements of Operations.

Overall, F5 achieved solid results in both our core application delivery controller business and our recently acquired storage virtualization business,” said John McAdam, F5 president and chief executive officer. “Application delivery controller revenue grew sequentially in Q2 and was up 19% from Q2 a year ago. Revenue from ARX, our line of storage virtualization products, also grew sequentially, up 5 percent from the prior quarter.”

F5 Networks Inc.