F5 Networks, the Seattle maker of networking equipment and software, today posted a revenue increase of 13 percent for its fiscal first quarter as profits also rose. The company tabulated $365.5 million in revenue, up from $322.4 million for the same period last year. Net income increased to $69.5 million, up from $66.5 million.

Shares rose more than four percent in after hours trading, with F5 now boasting a market value of $7.8 billion. Shares are down 17 percent in the past year.

“During the first quarter, strong sales to North American enterprises and service providers were offset by a substantial slowdown in U.S. Federal sales,” said F5 CEO John McAdam in a statement. “Japan sales were also weak during the quarter, in contrast to continuing strength in Europe and solid year-over-year growth in the rest of the Asia-Pacific region.”

Looking ahead, the company said it expects revenues of $370 million to $380 million for the current quarter. F5 now employs 3,125 people, including about 1,200 in Washington state.

Full report here.

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  • Guest

    F5: quiet, successful, humble, capable, good.

    They’re the anti-Microsoft or anti-Amazon. Or anti-everything in Silly Valley.

    We should be more proud of them and highlight them in this area. They’re like the true Seattle Tech Success. They do good work and have good people. I’m proud they’re here and local.

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