Shares of F5 Networks were up more than seven percent in after hours trading today following the company’s fourth quarter earnings report, which noted a profit increase of 13 percent from this time last year.
F5 saw $395.3 million in revenue and $76.2 million in profits, an increase from $68.2 million last quarter and $67.7 million a year earlier. Overall profits for fiscal year 2013 were $277 million, up from $275.2 million in 2012.
“The fourth quarter of fiscal 2013 was a positive finish to the year, characterized by strong demand for our new products and increasing traction in new and emerging market opportunities,” John McAdam, F5 president and CEO, said in a statement.
McAdam said that security offerings were a key business driver in the last quarter, and noted the company’s September acquisition of Versafe.
Also last month, F5 announced plans to open a new engineering center in Bellevue, hiring as many as 50 software engineers.
The company’s shares increased by $6.39 in after-hours trading, which followed a 4.8 percent dip in stock price on Tuesday. So far this year, the stock is down 11 percent, but up eight percent in the past three months. F5 now has a market value of $6.76 billion.
F5 expects revenue to be $390 million to $400 million next quarter:
