* Q1 adj EPS of 52 cents beat estimates by 3 cents
* Q1 revenue beats estimates
* Q2 outlook tops estimates
* Shares rise 1 pct
(Adds conference call details, analyst comments)
By Shrutika Verma
BANGALORE, Jan 20 F5 Networks Inc (FFIV.O)
posted a better-than-expected quarterly profit, helped by
strong growth in North America, and forecast second-quarter
results above analysts' expectations.
The network-equipment maker said it expects to see
continued sequential revenue growth in second-quarter and
through fiscal 2010.
"Our pipeline for future business is very strong," Chief
Executive John McAdam said on a conference call with analysts.
F5 Networks forecast second-quarter earnings of 52 cents to
54 cents a share, excluding items, on revenue of $195 million
to $200 million.
Analysts were looking for earnings of 48 cents a share,
excluding items, on revenue of $186.8 million.
"Market drivers for our business continue to increase at
significant rates including the accelerating growth and storage
requirement, data center consolidation projects and the
significant growth in mobile data and mobile applications,"
F5 Networks, which offers products that help control and
optimize Internet traffic within a network, said revenues in
North America, which contributed 58 percent in the first
quarter, rose 24 percent compared with a year ago.
Usually the second quarter is the seasonally softer quarter
and the forecast of a sequential growth in the second quarter
came in as a surprise for the market, Brigantine Advisors
analyst Joanna Makris said.
First-quarter net income rose to $29.3 million, or 36 cents
per share, from $21.4 million, or 27 cents per share, a year
earlier. Excluding items, earnings were 52 cents a share.
Revenue for F5, which competes with Cisco Systems (CSCO.O),
Citrix Systems (CTXS.O), Juniper Networks (JNPR.N), rose 16
percent to $191.2 million.
Analysts expected earnings of 49 cents a share, excluding
exceptional items, on revenue of $185.7 million, according to
Thomson Reuters I/B/E/S.
The Seattle-based company's shares, which have more than
doubled their value in the past one year, were up 70 cents at
$53.71 in trading after the bell.
(Reporting by S. John Tilak in Bangalore; Editing by Aradhana
Aravindan, Saumyadeb Chakrabarty)