F5 Networks doesn’t get a lot of press. But the Seattle company, which makes software and hardware products to speed up the delivery of applications over the Internet, continues to bolster revenues and profits.
On Tuesday, the company reported that it had topped more than $1 billion in revenue for the 2011 fiscal year, a milestone not achieved by many Seattle area tech companies. It also showed strong profits, beating the expectations of Wall Street.
Shares of the company jumped more than 13 percent today on the news, though they are still down 22 percent on the year.
Sid Parakh, an analyst at McAdams Wright Ragen, remains bullish on the company with a buy rating. In a note today, he wrote that the long-term prospects “remain intact” due to trends in data center consolidation, mobile data and virtualization. “Strong customer interest in F5’s new products, as evidenced by a strong pipeline, supports the anticipation of a reacceleration in Product growth (beginning in 2Q12) – an essential component of our investment thesis on F5,” Parakh wrote.
But how did F5 get to be a $1 billion in revenue company?
The company released this infographic yesterday explaining some of the steps along the journey.