FFIV FY 2010 Earnings Report — F5, Inc. Revenue & Financial Results | Market Cap Arena

FY 2010 Earnings

Reported November 23, 2010

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$882M	—	$653M	—	35.0%
Op. Income	$230M	—	$126M	—	82.2%
Gross Margin	80.5%	—	78.1%	—	2.4pp
Net Margin	17.1%	—	14.0%	—	3.1pp
EPS (Diluted)	$1.86	—	$1.14	—	63.2%
Free Cash Flow	$301M	—	$190M	—	58.7%

Revenue Flow

Item	Amount
REVENUE	$882M
Cost of Revenue	$172M
GROSS PROFIT	$710M
R&D Expenses	$118M
Selling & Marketing	$293M
General & Administrative	$69M
SG&A Expenses	$362M
Other Expenses	$0
Operating Expenses	$480M
Cost & Expenses	$652M
OPERATING INCOME	$230M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$8M
INCOME BEFORE TAX	$238M
Income Tax Expense	$86M
Net Income from Continuing Ops	$151M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$151M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$151M
D&A	$24M
EBIT	$230M
EBITDA	$254M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$882M
Cost of Revenue	$172M
GROSS PROFIT	$710M
R&D Expenses	$118M
Selling & Marketing	$293M
General & Administrative	$69M
SG&A Expenses	$362M
Other Expenses	$0
Operating Expenses	$480M
Cost & Expenses	$652M
OPERATING INCOME	$230M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$8M
INCOME BEFORE TAX	$238M
Income Tax Expense	$86M
Net Income from Continuing Ops	$151M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$151M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$151M
D&A	$24M
EBIT	$230M
EBITDA	$254M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$151M
Depreciation & Amortization	$24M
Stock-Based Compensation	$71M
Deferred Income Tax	$8M
Other Non-Cash Items	$1M
Change in Working Capital	$59M
OPERATING CASH FLOW	$314M
Capital Expenditure	-$13M
Acquisitions (Net)	$0
Purchases of Investments	-$877M
Sales/Maturities of Investments	$649M
Other Investing Activities	$3M
NET CASH FROM INVESTING	-$238M
Net Debt Issuance	$0
Common Stock Repurchased	-$75M
Common Dividends Paid	$0
Other Financing Activities	$58M
NET CASH FROM FINANCING	-$17M
FREE CASH FLOW	$301M
Net Change in Cash	$58M

Balance Sheet

Item	Amount
Cash & Equivalents	$169M
Short-Term Investments	$260M
Net Receivables	$112M
Inventory	$19M
Other Current Assets	$47M
TOTAL CURRENT ASSETS	$606M
PP&E (Net)	$34M
Goodwill	$235M
Intangible Assets	$0
Long-Term Investments	$434M
Tax Assets	$38M
Other Non-Current Assets	$7M
TOTAL NON-CURRENT ASSETS	$756M
TOTAL ASSETS	$1.4B
Account Payables	$21M
Short-Term Debt	$0
Deferred Revenue	$204M
Other Current Liabilities	$18M
TOTAL CURRENT LIABILITIES	$287M
Long-Term Debt	$0
Deferred Revenue NC	$55M
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$16M
TOTAL NON-CURRENT LIABILITIES	$71M
TOTAL LIABILITIES	$358M
Common Stock	$517M
Additional Paid-In Capital	$517M
Retained Earnings	$490M
Treasury Stock	$0
Accum. Other Comp. Income	-$3M
Other Equity	-$517M
TOTAL STOCKHOLDERS' EQUITY	$1.0B
Minority Interest	$0
TOTAL EQUITY	$1.0B
TOTAL LIABILITIES & EQUITY	$1.4B
Total Debt	$0
Net Debt	-$169M