F5 Announces Record Earnings

F5 Networks yesterday announced revenue of $50.2 million for the fourth quarter of fiscal 2004, up 14 percent from $44.2 million in the prior quarter and up 59 percent from $31.6 million in the fourth quarter of fiscal 2003.

Fourth quarter net income was $15.8 million compared to net income of $7.4 million in the third quarter and net income of $1.4 million in the fourth quarter a year ago. For fiscal 2004, the company reported record annual revenue of $171.2, up 48 percent from $115.9 million in fiscal 2003.

F5 president and chief executive officer John McAdam attributed his company's record quarterly revenue to strength in its core business of hardware-based load balancing and application traffic management, and solid demand for its security products.