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SMALL BUSINESS
F5 Networks posts big jump in 4Q profit
AP
SEATTLE -F5 Networks Inc., which makes products that manage and route computer network traffic, said Wednesday its fiscal fourth-quarter profit jumped 44 percent as customer spending ramped up.
Net income of $28.4 million, or 36 cents per share, was up from $19.7 million, or 24 cents per share, in the same quarter last year.
Excluding stock-based compensation, net income for the quarter was $40 million, or 50 cents per share, compared with $33.4 million, or 41 cents per share in the fourth quarter of fiscal 2008.
Analysts surveyed by Thomson Reuters expected earnings to be 41 cents per share. Analysts typically exclude special charges from their estimates.
Revenue for the quarter ended Sept. 30 was $175.1 million, up 2 percent from $171.3 million in the same quarter last year.
John McAdam, president and CEO, said the rebound in revenue in the quarter reflected a "continuation of the trend toward more normal customer spending patterns."
Bookings were up across all geographic regions, particularly in North America, as customers began purchasing equipment for new projects and moving forward with projects they had put on hold in the first half of the year, he said.
For the full year, net income was $91.5 million, or $1.14 per share, up 23 percent from $74.3 million, or 89 cents per share, for the year ended Sept. 30, 2008.
Adjusted net income for the year was $134.6 million, or $1.68 per share, up from $121.3 million, or $1.45 per share in fiscal 2008.
Analysts expected earnings to be $1.60 per share for fiscal 2009, according to a survey by Thomson Reuters.
Revenue for the year was $653.1 million, up a fraction of 1 percent from $650.2 million in fiscal 2008.
In after-hours trading, shares jumped $3.28, or 7.9 percent, to $44.81. The stock fell 60 cents to $41.53 in the regular session.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-10-21 17:58:39
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