Technology
F5 Networks sees its stock price soar
By Seattle Business Magazine April 20, 2011
Shares of Seattle-based F5 Networks climbed sharply Wednesday after the company released an earnings report that beat Wall Street projections. F5 shares gained 7 percent to just under $100 a share during normal trading, and rose an additional 12 percent to $112.30 a share after the closing bell.
The company, whose hardware and software allow applications to travel more quickly over the Internet, reported net income of $55.6 million on revenue of $227.6 million for the second quarter. Non-GAAP earnings were 88 cents per share, which beat projections by 2 cents.
F5 said it added 125 employees during the second quarter and has $997 million on hand. For the current quarter, the company estimates between $287 million and $292 million in revenue and earnings per share of 89 cents to 91 cents.