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Last $124.41 USD
Change Today +1.04 / 0.84%
Volume 863.7K
As of 8:10 PM 05/4/15 All times are local (Market data is delayed by at least 15 minutes).

f5 networks inc (FFIV) Key Developments

F5 Networks Introduces Silverline Web Application Firewall Service

F5 Networks, Inc. has introduced the Silverline Web Application Firewall service, a new cloud-delivered managed service to defend against web application attacks and reportedly ensure compliance across dynamic cloud and data center environments. The Silverline Web Application Firewall service offering provides quick web application firewall (WAF) implementation and unified, scalable policy enforcement capabilities. The service also includes 24x7 support from highly specialized F5 security experts with the company's Security Operations Center (SOC) resources. As the latest addition to F5's Silverline cloud-based application services platform, the new WAF offering is built on the capabilities of the company's BIG-IP Application Security Manager product. F5 seamlessly provides WAF services in both on-premises and subscription-based cloud offerings. The company's versatile, easy to deploy WAF solutions let organizations confidently incorporate cloud resources while protecting apps and data from increasingly sophisticated security attacks, risks, and vulnerabilities. Along with on-premises application protection, F5 now enables WAF functionality through an "as a Service" model to make it easy for organizations to quickly bolster their defenses. Advantages of the new Silverline WAF service include: Increased Speed and Effectiveness for Reliable WAF Deployments; Streamlined Operations for Reduced Costs; and Consolidated Security Functions for Added Peace of Mind. The new WAF offering protects applications by capitalizing on F5's security capabilities, demonstrated in independent performance testing from NSS Labs. F5 is able to leverage its proven security efficacy to protect against advanced layer 7 attacks (such as those based on geolocation, DDoS, SQL injection, zero-day threats, AJAX applications, JSON payloads, OWASP Top Ten, and others) in a convenient, cloud-based service. In addition, F5's WAF solutions offer automated, self-learning capabilities in a highly customizable framework that takes advantage of programmable iRules and iApps technologies to rapidly respond and adapt to evolving threats. Silverline WAF decreases operational expenses by outsourcing WAF policy management and compliance functions to F5's highly specialized SOC resources. F5's SOC experts are available 24x7 to build, configure, and fine-tune security policies. This approach helps eliminate false positives while protecting applications and data from known and emerging threats. In addition, F5's proactive monitoring incorporates external intelligence to secure apps against IP threats. The service also provides access reports through a customer portal, giving organizations additional data to reference in making IT security decisions. F5's service frees in-house personnel and budget for other projects by removing operational burdens without sacrificing overall application security. With its integrated Silverline offerings, F5 provides a growing number of hybrid, on-premises, and cloud-delivered application security solutions, including focused solutions around WAF, DDoS Protection, IP Intelligence, and Secure Web Gateway Services. Looking forward, F5 will offer additional services from its BIG-IP product portfolio through the Silverline platform, giving customers freedom and flexibility in how they combine owned, hosted, and managed IT resources. In the context of broader infrastructures, customers will also be able to centralize policy control and orchestration capabilities through APIs and future integrations with F5 management solutions.

F5 Networks, Inc. Announces Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended March 31, 2015; Provides Earnings Guidance for the Third Quarter Ending June 30, 2015

F5 Networks, Inc. announced unaudited consolidated financial results for the second quarter and six months ended March 31, 2015. For the quarter, the company reported total revenues of $85.6 million against $75.7 million a year ago. Income from operations was $132.9 million against $110.9 million a year ago. Income before income taxes was $136.121 million against $110.9 million a year ago. Net income was $85.73 million or $1.18 per diluted share against $69.641 million or $0.91 per diluted share a year ago. Net income excluding stock-based compensation, amortization of purchased intangible assets and loss on facility sublease (non-GAAP) - diluted was $115.3 million or $1.59 per diluted share against $96.9 million or $1.27 per diluted share a year ago. Revenue in the second quarter of fiscal 2015 reflected solid sequential and year-over-year growth in sales to U.S. service providers and enterprise customers. Solid earnings results reflect continued strength in operating margins and were also supported by a lower than anticipated effective tax rate for the quarter. Solid earnings results reflect continued strength in operating margins and were also supported by a lower than anticipated effective tax rate for the quarter. Earnings growth and a 23% year-over-year increase in deferred revenue contributed to exceptionally strong cash flow from operations during the quarter. Cash flow from operations was $142.3 million, driven by higher-than-expected profitability and stronger-than-expected collections in the current quarter. Capital expenditures for the quarter were $10.2 million. For the six months, the company reported total revenues of $161.944 million against $148.55 million a year ago. Income from operations was $265.2 million against $220 million a year ago. Income before income taxes was $271.030 million against $220.3 million a year ago. Net income was $174.81 million or $2.38 per diluted share against $137.7 million or $1.79 per diluted share a year ago. Net income excluding stock-based compensation, amortization of purchased intangible assets and loss on facility sublease (non-GAAP) - diluted was $229.5 million or $3.13 per diluted share against $191.7 million or $2.49 per diluted share a year ago. Net cash provided by operating activities was $328.7 million against $240.9 million a year ago. Purchases of investments were $254.82 million against $289.521 million a year ago. Purchases of property and equipment were $20.502 million against $10.12 million a year ago. For the third quarter ending June 30, 2015, the company has set a revenue target of $475 million to $485 million with a GAAP earnings target of $1.16 to $1.19 per diluted share and non-GAAP earnings target is $1.57 to $1.60 per diluted share. Net income to be in a range of $83.5 to $85.7 million. Non-GAAP net income excluding stock-based compensation expense and amortization of purchased intangible assets was $113.4 to $115.6 million. Non-GAAP net income per share - diluted was $1.57 to $160. GAAP gross margin is anticipated to be in the 82% to 82.5% range, including approximately $4 million of stock-based compensation expense and $2.7 million in amortization of purchased intangible assets. Non-GAAP gross margin is expected to be in the 83.5% to 84% range. GAAP effective tax rate of 37% and a non-GAAP effective tax rate of 35%.

F5 Networks, Inc. Approves the Adoption of Fifth Amended and Restated Bylaws

On April 19, 2015, the Board of Directors of F5 Networks, Inc. approved the adoption of the company's fifth amended and restated bylaws. The amended and restated bylaws also expand the maximum number of authorized directors to be set by resolution of the Board from nine to no more than ten.

F5 Networks, Inc. Announces Executive and Board Changes, Effective July 1

F5 Networks, Inc. announced the appointment of Manny Rivelo as President, Chief Executive Officer, and member of the company's Board of Directors, effective July 1. Rivelo will replace John McAdam, who will remain on Board of Directors as non-executive Board Chair. Al Higginson, current Board Chair, will serve as the Board's lead independent Director.

F5 Networks Safeguards Applications with New Cloud-Based WAF Service

F5 Networks, Inc. announced a new cloud-delivered managed service to defend against web application attacks and ensure compliance across dynamic cloud and data center environments. The Silverline™ Web Application Firewall service offering provides quick web application firewall (WAF) implementation and unified, scalable policy enforcement capabilities. The service also includes 24x7 support from highly specialized F5 security experts with the company’s Security Operations Center (SOC) resources. As the latest addition to F5’s Silverline cloud-based application services platform, the new WAF offering is built on the capabilities of the company’s BIG-IP® Application Security Manager™ product. F5 seamlessly provides WAF services in both on-premises and subscription-based cloud offerings. The company’s versatile, easy to deploy WAF solutions let organizations confidently incorporate cloud resources while protecting apps and data from increasingly sophisticated security attacks, risks, and vulnerabilities.

 

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