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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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