F5's Q2 Forecast Drops to $350M
SEATTLE -- F5 Networks, Inc. (FFIV) today announced preliminary results for the second quarter of fiscal 2013, ended March 31. Revenue for the quarter is expected to be $350.2 million, below the company’s guidance of $370 million to $380 million. GAAP EPS is expected in the range of $0.79 to $0.80 per diluted share, compared to guidance of $0.93 to $0.96 per diluted share. Non-GAAP EPS is expected in the range of $1.06 to $1.07 per diluted share, compared to guidance of $1.21 to $1.24 per diluted share. John McAdam, F5 president and chief executive officer, said the revenue shortfall resulted primarily from a slowdown in North American and to a lesser extent EMEA sales, while sales in Japan and Asia-Pacific were essentially in line with the company’s expectations. “From a market perspective, Telco bookings were down sharply on both a sequential and year-over-year basis. U.S. Federal sales were also down significantly from the second quarter a year ago. “Currently, we are looking into all the factors affecting the quarter’s results and we plan to provide more color during our regularly scheduled release and conference call on April 24,” McAdam said. F5 Networks Inc.