Stock Monitor: Automatic Data Processing Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 14, 2018 / If you want access to our free earnings report on F5 Networks, Inc. (NASDAQ: FFIV), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=FFIV. On April 25, 2018, F5 Networks reported financial results for the second quarter ending March 31, 2018. The Company exceeded analysts' consensus estimates for revenue as well as earnings in the second quarter of 2018 (Q2 FY18). Register today and get access to over 1,000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Automatic Data Processing, Inc. (NASDAQ: ADP), which also belongs to the Technology sector as the Company F5 Networks. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, F5 Networks most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
F5 Networks' total revenues for Q2 FY18 reached $533.30 million, reflecting an increase of 2.91% from $518.25 million in Q2 FY17 driven by the Company's software solutions and Services business. The reported total revenue number surpassed analysts' consensus estimates of $530 million. In the quarter under review, the Company's product revenues dipped 1.46% to $237.56 million while its services revenue jumped 6.70% to $295.75 million on a y-o-y basis.
In Q2 FY18, F5 Networks' cost of net revenues was $89.65 million, 1.97% higher than $87.91 million in Q2 FY17. F5 Networks' gross profit advanced 3.10% to $443.66 million in Q2 FY18 from $430.34 million in Q2 FY17.
During Q2 FY18, F5 Networks incurred operating expenses of $300.30 million, an increase of 2.91% from $291.81 million in Q2 FY17. In the reported quarter, the Company's sales and marketing expenses jumped 3.20% to $169.97 million, research and development (R&D) expenses increased 2.04% to $91.06 million, while general and administrative (G&A) expenses advanced 3.33% to $39.28 million on a y-o-y basis. F5 Networks had an income from operations of $143.36 million in the reported quarter, up 3.49% from $138.52 million in the previous year's same quarter.
F5 Networks generated a net income of $109.64 million in Q2 FY18, 17.71% higher than $93.14 million in Q2 FY17. The Company reported diluted earnings per share (DEPS) of $1.77 in the quarter under review, 23.78% higher than $1.43 in the year-ago corresponding quarter. The reported results for Q2 FY18 and Q2 FY17 included stock-based compensation expense, amortization of purchased intangible assets, litigation expenses and tax impact of these items. Excluding these non-recurring items, the Company had a non-GAAP DEPS of $2.31 per share in Q2 FY18, an increase of 18.46% from $1.95 per share in Q2 FY17,k which was higher than analysts' consensus estimates of $2.26 per share.
F5 Networks had cash and cash equivalents of $595.92 million as on March 31, 2018, compared to $673.23 million as on September 30, 2017. The Company's total long-term liabilities as on March 31, 2018, were $328.36 million, 5.06% higher than the $312.55 million as on September 30, 2017.
For the six months ending March 31, 2018 (H1 FY18), F5 Networks' cash flow from operating activities was $374.71 million, 2.76% higher than the $364.65 million reported for the six months ending March 31, 2017 (H1 FY17).
F5 Networks spent $16.25 million on purchase of property and equipment in H1 FY18, 31.49% lower than $23.72 million in H1 FY17. The Company spent $300.05 million on repurchase of common stock in the reported quarter, almost the same as in the prior year's same quarter.
For the third quarter of fiscal 2018 ending June 30, 2018, F5 Networks expects revenue to be in the range of $535 million to $545 million and GAAP earnings to be in the range of $1.79 to $1.82 per diluted share. The Company anticipates non-GAAP earnings of $2.36 to $2.39 per diluted share in Q3 FY18, excluding stock-based compensation expense, and amortization of purchased intangible assets.
Stock Performance Snapshot
May 11, 2018 - At Friday's closing bell, F5 Networks' stock slightly fell 0.58%, ending the trading session at $171.76.
Volume traded for the day: 649.74 thousand shares.
Stock performance in the last month – up 15.78%; previous three-month period – up 23.89%; past twelve-month period – up 32.18%; and year-to-date – up 30.89%
After last Friday's close, F5 Networks' market cap was at $10.51 billion.
Price to Earnings (P/E) ratio was at 23.49.
The stock is part of the Technology sector, categorized under the Business Software & Services industry.
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the ''Author'') and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst. For further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.