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F5 Revenues Do a Buffalo Jump

F5 Networks Inc.'s (Nasdaq: FFIV) revenues jumped 59 percent last quarter on strong sales and the traffic management vendor's earnings topped analysts' expectations thanks to a one-time tax benefit.

F5 posted fourth quarter revenues of $50.2 million, almost $4 million above analyst estimates of $46.6 million.

The firm's significant one-time net benefit” was related to deferred tax assets in the quarter.

The company reported pro forma earnings of 28 cents a share, six to eight cents above the company’s own guidance.

For fiscal 2004, F5 reported annual revenue of $171.2 million, up 48 percent from $115.9 million reported in fiscal 2003.

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