F5 Networks revenues up 5 percent to $370.3 million in Q3 FY 2013

F5 Networks third quarter of fiscal 2013 revenue rose 5 percent to $370.3 million.

Net income decreased to $68.2 million from $72.3 million.

John McAdam, F5 president and chief executive officer, said: “Strong sales in the Americas led to a 6 percent sequential increase in both product and overall revenue.

Product sales during the quarter were driven by growing demand for its BIG-IP 4000 appliances and new entry-level BIG-IP 2000 series.

The company received encouraging response to new midrange BIG-IP 5000 and BIG-IP 7000 series appliances that were released in June.

F5 Networks said the performance and scalability enhancements of the new appliances have helped drive growing sales of security software, including new Advanced Firewall Manager and the recently upgraded Application Security Manager and Access Policy Manager.

“Sales of our other software modules have also grown, and demand for our software-only virtual edition products has increased steadily. Along with major enhancements to TMOS, designed to strengthen our SDN integration and cloud scaling capabilities, we recently introduced new 5-gigabit versions of our virtual edition products which run on all major hypervisors including AWS,” McAdam added.

Positive customer response to the company’s new products has contributed to a strong and growing sales pipeline.

In spite of ongoing weakness in the global economy, demand for the new products in combination with other business drivers could be a significant catalyst for continued growth.

For the fourth quarter of fiscal 2013, ending September 30, the company has set a revenue target of $378 million to $388 million.

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