F5 Networks Inc. (FFIV: Quote) reported that its first-quarter GAAP net income was $69.5 million or $0.88 per share, compared to $66.5 million or $0.83 per share in the first quarter a year ago.
Excluding the impact of stock-based compensation and amortization of purchased intangible assets, non-GAAP net income was $90.6 million or $1.14 per share, compared to $82.2 million or $1.03 per share in the first quarter of last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.15 per share for the quarter. Analysts’ estimates typically exclude special items.
Revenue for the quarter was $365.5 million, up 13 percent from $322.4 million in the year ago quarter. Thirty six analysts had consensus revenue estimate of $366.74 million for the quarter.
For the second-quarter, ending March 31, the company has set a revenue goal of $370 million to $380 million with a GAAP earnings target of $0.93 to $0.96 per share and a non-GAAP earnings target of $1.21 to $1.24 per share. Analysts expect the company to report earnings of $1.20 per share on revenues of $379.34 million for the second-quarter.
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by RTT Staff Writer
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