F5 Posts Strong Quarter, Sales Rise to $525.3 million, up 6% YoY

F5 Networks posted revenue of $525.3 million for the fourth quarter of fiscal year 2016, up 6 percent from $496.5 million in the prior quarter and 5 percent from $501.3 million in the fourth quarter of fiscal year 2015. For fiscal year 2016, revenue was $2.0 billion, up 4 percent from $1.92 billion last year.

GAAP net income for the fourth quarter was $108.9 million ($1.64 per diluted share) compared to $91.8 million ($1.37 per diluted share) in the third quarter of 2016 and $97.0 million ($1.36 per diluted share) in the fourth quarter a year ago. GAAP net income for the year was $365.9 million ($5.38 per diluted share) versus $365.0 million ($5.03 per diluted share) in fiscal year 2015.

"Strengthening product sales in the second half of fiscal 2016 culminated in strong fourth quarter results and record annual revenue and earnings,” said John McAdam, F5 president and chief executive officer. “On a regional basis, Americas, APAC and Japan all delivered solid sequential and year over year sales growth, while sales in EMEA were down significantly from the fourth quarter a year ago.

“We believe there are several emerging market conditions that are driving an increased appeal of our products with our customers. These include the ability to orchestrate SSL traffic flows, provision our proxy based security solutions to deploy a consistent security stack across on-premise, off-premise and public cloud infrastructures, and customers moving workloads to public and private cloud architectures. We believe these trends, combined with our new product offerings will drive our business forward in fiscal 2017 and beyond.

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