Jul 19
F5 posted a non-GAAP profit of $79.4 million, or 97 cents a share, for its its fiscal third quarter ended in June with revenue rising less than 5% on a sequential basis to $290.7 million. The average estimate of analysts polled by Thomson Reuters was for a profit of 91 cents a share in the June-ended period on revenue of $290.7 million. 
“Strong sales in APAC and Japan, in particular of our high-end products, accounted for most of the revenue growth during the quarter,” said John McAdam, the company’s president and CEO, in a statement. “EMEA [Europe, Middle East, and Africa] revenue was down from the prior quarter, and Americas revenue was up only slightly, due in part to a slowdown in U.S. Federal sales.” The concerns about Europe surfaced after Tuesday’s close when F5 competitor Riverbed Technology>(RVBD) fell short on revenue expectations in its quarter, citing weakness in its EMEA business. F5 also said it now expects non-GAAP earnings of 97 to 99 cents a share in its fiscal fourth quarter ending in September on revenue of between $307 million and $312 million. That view surrounds the current consensus estimate for a profit of 98 cents a share on revenue of $309.9 million in the September period. The stock last changed hands at $105.97, down 5%, on volume of a little less than 500,000, according to Nasdaq.com. It’s seen a slight bounce since dipping as low as $100.58. The shares fell 6% in the regular session to close at $111.44. F5 had topped the consensus profit view in the past eight quarters prior to Wednesday’s report, and Wall Street was split ahead of the news with 21 of the 38 analysts covering the shares at strong buy (8) or buy (13), but the remaining 17 stuck at hold (14) or underperform (3). The stock had a high bar to clear to move higher as it’s gained more than 50% in the past year, although it’s down about 15% so far in 2011 and its 52-week high of $145.76 dates back to Jan. 13. –Written by Michael Baron in New York. >To contact the writer of this article, click here: Michael Baron. >To submit a news tip, send an email to:
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“Strong sales in APAC and Japan, in particular of our high-end products, accounted for most of the revenue growth during the quarter,” said John McAdam, the company’s president and CEO, in a statement. “EMEA [Europe, Middle East, and Africa] revenue was down from the prior quarter, and Americas revenue was up only slightly, due in part to a slowdown in U.S. Federal sales.” The concerns about Europe surfaced after Tuesday’s close when F5 competitor Riverbed Technology>(RVBD) fell short on revenue expectations in its quarter, citing weakness in its EMEA business. F5 also said it now expects non-GAAP earnings of 97 to 99 cents a share in its fiscal fourth quarter ending in September on revenue of between $307 million and $312 million. That view surrounds the current consensus estimate for a profit of 98 cents a share on revenue of $309.9 million in the September period. The stock last changed hands at $105.97, down 5%, on volume of a little less than 500,000, according to Nasdaq.com. It’s seen a slight bounce since dipping as low as $100.58. The shares fell 6% in the regular session to close at $111.44. F5 had topped the consensus profit view in the past eight quarters prior to Wednesday’s report, and Wall Street was split ahead of the news with 21 of the 38 analysts covering the shares at strong buy (8) or buy (13), but the remaining 17 stuck at hold (14) or underperform (3). The stock had a high bar to clear to move higher as it’s gained more than 50% in the past year, although it’s down about 15% so far in 2011 and its 52-week high of $145.76 dates back to Jan. 13. –Written by Michael Baron in New York. >To contact the writer of this article, click here: Michael Baron. >To submit a news tip, send an email to:
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