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F5 Networks, which makes software and hardware products that speed the delivery of applications over the Internet, said today that its revenues gained five percent for the fiscal second quarter to $339.6 million. Meanwhile, net income rose to $68.6 million.

The company, which finished the most recent quarter with $1.03 billion in cash on the books, said that it added 190 employees worldwide, including 60 from its purchase of Traffix Systems.

Despite the growth in profits, F5’s stock is down more than four percent in after hours trading today. Part of the sell off is tied to the company’s prospects moving forward. The company set a third quarter goal of $350 million to $355 million, with an earnings target is $1.12 to $1.14 per diluted share. Analysts expected $353 million and earnings of $1.14, according to Barron’s.

Full earnings release here.

Previously on GeekWireF5 Networks continues to grow, gobbles up more space along Seattle’s waterfront


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