UPDATE 1-F5 Networks Q3 earnings fall

(Recasts; adds details, share movement)

July 23 (Reuters) - Network equipment maker F5 Networks Inc (FFIV.O) reported a 12 percent decline in quarterly profit as it was hurt by higher expenses.

For the third quarter, its net income was $19.1 million, or 23 cents a share, compared with $21.8 million, or 26 cents a share, a year ago.

Total revenue rose 25 percent to $165.6 million, but was offset by an almost 34 percent jump in operating expenses. Analysts on average expected the company to earn 22 cents a share, before special items, on revenue of $161.4 million, according to Reuters Estimates.

For the fourth quarter, the company forecast earnings of 19 cents to 20 cents a share, on revenue of $172 million to $174 million.

Excluding certain items, it expects to earn 38 cents to 39 cents a share.

Analysts were expecting the company to earn 24 cents a share, including stock-based compensation expense but excluding other special items.

Shares of the company were down more than 5 percent at $29.34 after the bell. They closed at $31.04 Wednesday on Nasdaq. (Reporting by Santosh Nadgir in Bangalore; Editing by Himani Sarkar)