* Sees 2nd-quarter adj EPS $1.23-$1.26 vs est $1.21
* Expects revenue $408 mln-$418 mln vs est $404.4 mln
* First-quarter adj EPS $1.22 vs est $1.19
* Approves $500 mln more for share buyback program
* Shares up 11 percent in extended trading
Jan 22 Network gear maker F5 Networks Inc
forecast current-quarter revenue above Wall Street
estimates, helped by strong sales of its data traffic management
products, pushing its shares up 11 percent in extended trading.
F5 Networks, which also reported better-than-expected
earnings for the quarter ended Dec. 31, forecast current-quarter
revenue of $408-$418 million.
Analysts on average were expecting revenue of $404.4 million
for the quarter ending March 31, according to Thomson Reuters
The company, which counts Facebook Inc, Pandora Media
Ltd, MakeMyTrip Ltd and the U.S. government among
its customers, also forecast an adjusted profit of $1.23-$1.26
per share, above the average analyst estimate of $1.21 per
The company also authorized $500 million for its common
stock share repurchase program. That is in addition to the
$281.3 million unused in the existing program which was
authorized in October 2010.
F5 saw strong demand for its data traffic and security
products during the first quarter, particularly in North America
and Europe, analysts at Wells Fargo Securities LLC said in a
In the past one year, F5 has upgraded some of its software
modules and introduced some new hardware that helps manage
traffic on networks, and these products have found favor with
The company ended the quarter with about 3,521 employees and
plans to add another 100 in the current quarter, Chief Financial
Officer Andy Reinland said on a conference call with analysts on
The company's revenue rose 11 percent to $406.5 million in
the first quarter from a year earlier.
Net income fell to $68 million, or 87 cents per share, from
$69.5 million, or 88 cents per share.
Excluding items, the company earned $1.22 per share.
Analysts on average had expected earnings of $1.19 per share
on revenue of $397.3 million, according to Thomson Reuters
F5 shares were at $106.5 in post-market trading after
closing at $97.48 on the Nasdaq on Wednesday.