F5 Grows ADC Base, Hires More Employees
F5 reports its full year fiscal 2013 results as CEO details a year full of product updates.
Networking vendor F5 made a decent showing for fiscal 2013. The Application Delivery Controller (ADC) vendor reported its fourth quarter and full year fiscal 2013 results late Wednesday, revealing the results of a year in which the company refreshed much of its product portfolio.
For the fourth quarter, F5 reported $395.3 million in revenue, a 9 percent year-over-year gain. The vendor reported full year revenue at $1.48 billion, up 8 percent from fiscal 2012. F5's $76.2 million in net income for the fourth quarter is an improvement over the company's $68.2 million in 2012. The company reported $277.3 million in full year net income, up marginally from the $75.2 million reported in fiscal 2012.
Looking forward, F5 provided first quarter fiscal 2014 guidance for revenue in a range of $390 million to $400 million.
In a show of optimism, F5 also expanded its employee base during the year. F5 added 325 employees during its fiscal 2013, an 11 percent increase over 2012.
F5 CEO John McAdam said during his company's earnings call that fiscal 2013 was very productive from a product development perspective.
"We completed our largest appliance product refresh ever, and we developed a host of new software solutions, which have significantly expanded our addressable market," McAdam said.
Among the new platforms that F5 released in 2013 are new VIPRION and BIG-IP appliances. The VIPRION 4800 was announced at the beginning of the year. It is an 8-slot chassis that can deliver 160 Gbps of SSL throughput and 20 million requests per second.
F5 also introduced the BIG-IQ platform in 2013, providing a new centralized management platform. Scalability has been enhanced across the F5 portfolio with the introduction of ScaleN technology, which landed in the BIG-IP 11.4 update in July.
McAdam said that F5 has placed a big focus on security capabilities with the introduction of Advanced Firewall Manager (AFM).
"Approximately 30 percent of our total product sales last year included one or more of our key security products," McAdam said.
The core of F5's strategy in 2013 and into 2014 remains firmly rooted in the company's ADC base.
"The strategy is basically to make sure that our solution, the ADC, application delivery controller, is really a base platform that can be built on with extra solutions," McAdam explained. " And as you build those extra solutions, you are increasing your market. So we have constantly, over the years, increased the ADC market."
Sean Michael Kerner is a senior editor at Enterprise Networking Planet and InternetNews.com. Follow him on Twitter @TechJournalist #