Wednesday, October 29, 2014

F5 Sales Rise 18% YoY to $465.3 million, CEO to Retire Next Year

F5 Networks reported revenue of $465.3 million for the fourth quarter of its fiscal year 2014, up 6 percent from the prior quarter and 18 percent from $395.3 million in the fourth quarter of fiscal year 2013. For fiscal year 2014, revenue was $1.73 billion, up 17 percent from $1.48 billion in fiscal year 2013.

GAAP net income for the fourth quarter was $94.0 million ($1.26 per diluted share) compared to $79.5 million ($1.05 per diluted share) in the third quarter of 2014 and $76.2 million ($0.97 per diluted share) in the fourth quarter a year ago. GAAP net income for the year was $311.2 million ($4.09 per diluted share) versus $277.3 million ($3.50 per diluted share) in fiscal year 2013.

“The fourth quarter of fiscal 2014 was a solid finish to a year characterized by positive customer and partner response to our Synthesis architecture, the array of new products we rolled out in fiscal 2013, our Good Better Best pricing strategy, and the enhanced capabilities of our BIG-IQ management platform,” said John McAdam, F5 president and chief executive officer.

Separately, McAdam announced his plans to retire at the end of fiscal year 2015.

Commenting on his decision, McAdam said “Following a year of record growth, I believe F5 is better positioned in terms of our market opportunity, the breadth of our products and services, the strength of our partnerships, and the caliber and enthusiasm of the entire F5 team than at any time in the company’s history. I am excited about our prospects and firmly committed to delivering another year of solid growth and profitability as President and CEO."