F5 Posts Revenue of $395 Million, up 7%

F5 posted revenue of $395.3 million for it Q4 2013, up 7 percent from $370.3 million in the prior quarter and 9 percent from $362.6 million in the same period last year.  GAAP net income for the quarter was $76.2 million ($0.97 per diluted share) compared to $68.2 million ($0.86 per diluted share) in the previous quarter.  For its full fiscal year 2013, revenue was $1.48 billion, up 8 percent from $1.38 billion in fiscal year 2012.

“Following the release of the BIG-IP 5000 and 7000 series at the end of the third quarter, our entire refreshed family of BIG-IP appliances was shipping in Q4, contributing to strong sales in the quarter and continuing momentum as we enter fiscal 2014. We also won several large deals driven by new and enhanced software modules, including Advanced Firewall Manager (AFM), Application Security Manager (ASM), Access Policy Manager (APM), and Policy Enforcement Manager (PEM). In addition, our Virtual Edition (software-only) products continued to gain traction, with revenue up 21 percent sequentially across a broad base of diverse customers.

“As reflected in the number of large deals involving AFM, ASM and APM, security was a key business driver in Q4, and we continued to expand our integrated security offerings with the acquisition of Versafe, a provider of fraud detection and prevention solutions, in early September. In the service provider segment, we further strengthened our pipeline of Diameter signaling and routing opportunities with a number of Traffix design wins at major carriers.

“While the global economy shows no signs of improvement in the near term, we are confident that the company-specific drivers that contributed to our growth in Q4 will continue into fiscal 2014. As we look ahead to Q1, we expect to see continued strength in our new product offerings against the backdrop of our typical Q1 seasonality,” McAdam said.

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