Operating income up 83% on year-ago quarter
US network equipment maker F5 Networks has reported revenue of $268.9m for the first quarter of fiscal 2011, an increase of 40.7% compared to $191.2m in the year-ago quarter.
Revenue from products increased to $171.4m, compared to $119.2m and services revenue grew to $97.4m from $71.9m for the same quarter last year
For the first quarter ended on 31 December 2010, operating income increased by 83% to $79.8m from $43.7m for the same quarter previous year.
Net income was $55.6m, compared to net income of $29.2m, while diluted EPS grew 89% to $0.68, compared to $0.36 for the same period last year.
F5 president and CEO John McAdam said product revenue was up nearly 44% from the first quarter of fiscal 2010, and service revenue grew more than 35% during the same period.
"On a regional basis, all geographies delivered sequential and year-over-year gains, led by Asia Pacific where revenue was up 11% from the prior quarter and 62% from the first quarter a year ago," McAdam said.
For the second quarter 2011, the company expects revenue to range between $275m and $280m and diluted EPS between $0.65 and $0.67.