F5 Networks, Inc. (FFIV) reported net income for the fourth quarter of $94.0 million or $1.26 per share, compared to $76.2 million or$0.97 per share for the year-ago quarter.
Excluding items, adjusted net income for the fourth quarter was $116.7 million or $1.57 per share, compared to $99.2 million or $1.26 per share in the prior year quarter.
Revenue for the fourth quarter rose 18% to $465.3 million from $395.3 million a year ago.
Analysts polled by Thomson Reuters expected the company to earn $1.48 per share on revenue of $460.67 million for the fourth quarter.
Looking forward to the first quarter, the company forecasts revenue of $460 million to $470 million, earnings of $1.10 to $1.13 per share and adjusted earnings of $1.46 to $1.49 per share. Analysts currently expect the company to earn $1.48 per share on revenue of $464.94 million for the first quarter.
Separately, F5 Networks said that President and Chief Executive Officer John McAdam plans to retire at the end of fiscal year 2015.
Al Higginson, Chair of F5's Board of Directors, said it is the Board's current intention that following Mr. McAdam's retirement from his role as President and CEO, McAdam will remain on the Board and serve as non-executive Board Chair.
McAdam will continue to work closely with the Board as part of its process for identifying his successor to ensure a smooth transition for the Company.
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