* Sees first-quarter adj profit $1.14-$1.16/share vs est
* Sees revenue $363 mln-$370 mln vs est $373.5 mln
* Fourth-quarter adj profit $1.12/share vs est $1.18/share
* Rev $362.6 mln vs est $365.9 mln
Oct 24 Network gear maker F5 Networks Inc
forecast a weak first-quarter as its large U.S.
enterprise and telecoms customers reduced spending, sending its
shares down as much as 12 percent in trading after the bell.
F5 expects first-quarter earnings to be between $1.14 and
$1.16 per share, before items, on revenue of $363 million to
Analysts were expecting earnings of $1.20 per share on
revenue of $373.5 million, according to Thomson Reuters I/B/E/S.
The company said on a conference call that macroeconomic
uncertainty led many of its larger customers to slow down or
Network equipment makers have been hit as telecom service
providers -- their biggest customers -- cut spending due to a
faltering U.S. recovery and weakness in Europe.
Rival Juniper Networks Inc forecast current-quarter
results below expectations on Tuesday, citing cautious customer
F5 said on the call that it had "reasonable" sales growth
for orders up to $1 million in size, but saw a drop off in
orders above $1 million.
Electronic parts distributor Avnet Inc, one of F5's
biggest distributors, said earlier this month that it expects
first-quarter revenue at the low end of its prior forecast,
indicating depressed technology spending particularly in the
F5 posted an adjusted fourth-quarter profit of $1.12 per
share, below analysts' expectations of $1.18 per share.
While revenue grew in double digits for the eleventh
straight quarter, it missed analysts' estimates.
Shares of the company were trading at $83.29 after market.
They closed at $93.32 on the Nasdaq on Wednesday.