EMEA (essentially Europe) was weak for FFIV just as it was with RVBD. Government sales were also weak, a signal we saw from Cisco a few quarters ago.
Guidance is just about exactly where analysts currently are at:
- For the current quarter, ending September 30, management has set a revenue goal of $307 million to $312 million with a GAAP earnings target of $0.75 to $0.77 per diluted share. Excluding stock-based compensation expense, the company's non-GAAP earnings target is $0.97 to $0.99 per diluted share.
- For the third quarter of fiscal 2011, F5 Networks, Inc. (NASDAQ: FFIV) announced revenue of $290.7 million, up 4.7 percent from $277.6 million in the prior quarter and 26.1 percent from $230.5 million in the third quarter of fiscal 2010.
- Excluding the impact of stock-based compensation net of tax, non-GAAP net income was $79.4 million ($0.97 per diluted share), compared to $71.5 million ($0.88 per diluted share) in the prior quarter and $53.3 million ($0.66 per diluted share) in the third quarter of fiscal 2010.
- "Strong sales in APAC and Japan, in particular of our high-end products, accounted for most of the revenue growth during the quarter," said John McAdam, F5 president and chief executive officer. "EMEA revenue was down from the prior quarter, and Americas revenue was up only slightly, due in part to a slowdown in U.S. Federal sales.
- "During the third quarter we added 95 employees, roughly a third of them in sales and sales support. At the same time, productivity across the organization enabled us to achieve a non-GAAP operating profit margin of 38.2 percent," McAdam said.