Networking vendor F5 is showing no signs of slowing down this year. F5 Networks (NASDAQ: FFIV) announced first quarter fiscal 2012 results on Wednesday that showed continued growth for the company.
For the quarter, F5 reported Net Revenue of $322.4 million which is a 19.9 percent year-over year gain. Net income was reported at $66.5 million which is a gain over the $55.7 million in the first quarter of fiscal 2011. F5 has been growing at a rapid rate in recent months. According to a report from Infonetics Research, F5 is now the No. 2 data center networking vendor ahead of HP but behind Cisco.
During the company’s earnings call, CEO John McAdam cited sales of the VIPRION application delivery controller (ADC) platform as being a key driver of growth.
“Sales of the new mid-range VIPRION 2400 products were very strong in the quarter and sales from the entire VIPRION family almost tripled from a year ago,” McAdam said. “The combination of VIPRION sales and the increase in our software module attach rate have been major factors in obtaining deal sizes at record levels.”
McAdam also noted that F5’s virtualization based portfolio of ADCs also grew during the year by 149 percent year-over-year.