4:09PM F5 Networks preannounces Q2 results below guidance/consensus (halted, will resume trade at 16:25) (FFIV) 90.42 -0.10 : Co issues downside guidance for Q2 (Mar), sees EPS of $1.06-1.07, excluding non-recurring items, vs. $1.23 Capital IQ Consensus ($1.21-1.24 previous guidance); sees Q2 (Mar) revs of $350.2 mln vs. $376.05 mln Capital IQ Consensus ($370-380 mln previous guidance).
John McAdam, F5 president and chief executive officer, said the revenue shortfall resulted primarily from a slowdown in North American and to a lesser extent EMEA sales, while sales in Japan and Asia-Pacific were essentially in line with the co's expectations. "From a market perspective, Telco bookings were down sharply on both a sequential and year-over-year basis. U.S. Federal sales were also down significantly from the second quarter a year ago. Currently, we are looking into all the factors affecting the quarter's results and we plan to provide more color during our regularly scheduled release and conference call on April 24."