2 Tech Stocks Lighting Up Trading Screens After Earnings
F5 Networks Inc. (NASDAQ:FFIV) reported net income above Wall Street’s expectations for the first quarter. Net income for F5 Networks Inc. rose to $66.5 million (83 cents per share) vs. $55.7 million (68 cents per share) in the same quarter a year earlier. This marks a rise of 19.5% from the year earlier quarter. Revenue rose 19.9% to $322.4 million from the year earlier quarter. FFIV reported adjusted net income of $1.03 per share. By that measure, the company beat the mean estimate of 81 cents per share. Analysts were expecting revenue of $319 million.
“Strong sales in APAC, Japan, and particularly North America offset the seasonal slowdown that typically characterizes the first quarter of a new fiscal year. We were also pleased that sales in the EMEA region exceeded our expectations,” said John McAdam, F5 president and chief executive officer.
Competitors to Watch: Blue Coat Systems, Inc. (NASDAQ:BCSI), Radware Ltd. (NASDAQ:RDWR), Riverbed Technology, Inc. (NASDAQ:RVBD), Cisco Systems, Inc. (NASDAQ:CSCO), Procera Networks, Inc. (AMEX:PKT), Juniper Networks, Inc. (NYSE:JNPR), Dialogic Inc (NASDAQ:DLGC), NetScout Systems, Inc. (NASDAQ:NTCT), Brocade Communications Systems, Inc. (NASDAQ:BRCD), and Hewlett-Packard Company (NYSE:HPQ).
Xilinx Inc. (NASDAQ:XLNX) reported its results for the third quarter. Net income for the semiconductor company fell to $127 million (47 cents per share) vs. $152.3 million (58 cents per share) a year earlier. This is a decline of 16.6% from the year earlier quarter. Revenue fell 9.9% to $511.1 million from the year earlier quarter. XLNX beat the mean analyst estimate of 37 cents per share. It beat the average revenue estimate of $500.4 million.
“We experienced strong growth in our Virtex-6 and Spartan-6 product families and achieved significant milestones in our 28-nm rollout, in spite of challenging industry conditions. During the quarter, we commenced shipments of the PLD industry’s first Stacked Silicon Interconnect (NYSE:SSI) product as well as the industry’s first embedded systems platform, the Zynq-7000 product family,” said Moshe Gavrielov, Xilinx President and Chief Executive Officer. “Xilinx is not only expanding its addressable market but also paving the way for the entire semiconductor industry with these innovative new offerings.”
Competitors to Watch: Altera Corporation (NASDAQ:ALTR), Lattice Semiconductor (NASDAQ:LSCC), QuickLogic Corporation (NASDAQ:QUIK), Cypress Semicond. Corp. (NASDAQ:CY), Microsemi Corporation (NASDAQ:MSCC), Atmel Corporation (NASDAQ:ATML), ON Semiconductor Corp. (NASDAQ:ONNN), Sajan, Inc. (SAJA), Texas Instruments Inc. (NYSE:TXN), and TranSwitch Corporation (NASDAQ:TXCC).