$FFIV
F5, INC.

2016 Q1 Form 10-Q Financial Statement

#000104869516000035 Filed on April 27, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q1
Revenue $483.7M $472.1M
YoY Change 2.44% 12.4%
Cost Of Revenue $82.23M $82.60M
YoY Change -0.44% 9.16%
Gross Profit $401.4M $389.5M
YoY Change 3.05% 13.12%
Gross Profit Margin 83.0% 82.51%
Selling, General & Admin $191.3M $182.2M
YoY Change 5.0% 9.55%
% of Gross Profit 47.65% 46.76%
Research & Development $86.29M $74.52M
YoY Change 15.8% 10.84%
% of Gross Profit 21.5% 19.13%
Depreciation & Amortization $14.00M $13.30M
YoY Change 5.26% 17.7%
% of Gross Profit 3.49% 3.41%
Operating Expenses $286.5M $256.7M
YoY Change 11.62% 9.92%
Operating Profit $114.9M $132.9M
YoY Change -13.49% 19.84%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $133.0K $3.266M
YoY Change -95.93% 14100.0%
Pretax Income $115.1M $136.1M
YoY Change -15.47% 22.76%
Income Tax $39.65M $50.39M
% Of Pretax Income 34.46% 37.02%
Net Earnings $75.42M $85.73M
YoY Change -12.03% 23.1%
Net Earnings / Revenue 15.59% 18.16%
Basic Earnings Per Share $1.12 $1.19
Diluted Earnings Per Share $1.11 $1.18
COMMON SHARES
Basic Shares Outstanding 67.55M shares 72.24M shares
Diluted Shares Outstanding 67.80M shares 72.71M shares

Balance Sheet

Concept 2016 Q1 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $775.0M $666.5M
YoY Change 16.28% 6.85%
Cash & Equivalents $398.3M $367.6M
Short-Term Investments $376.7M $298.9M
Other Short-Term Assets $66.94M $48.86M
YoY Change 37.01% -16.84%
Inventory $35.18M $29.34M
Prepaid Expenses
Receivables $266.2M $262.6M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.194B $1.052B
YoY Change 13.48% 10.7%
LONG-TERM ASSETS
Property, Plant & Equipment $107.5M $68.75M
YoY Change 56.44% 11.59%
Goodwill $556.0M $557.0M
YoY Change -0.18% 7.6%
Intangibles
YoY Change
Long-Term Investments $319.3M $467.7M
YoY Change -31.73% -13.58%
Other Assets $64.68M $74.44M
YoY Change -13.1% 2.59%
Total Long-Term Assets $1.048B $1.169B
YoY Change -10.35% -3.84%
TOTAL ASSETS
Total Short-Term Assets $1.194B $1.052B
Total Long-Term Assets $1.048B $1.169B
Total Assets $2.242B $2.221B
YoY Change 0.94% 2.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $37.24M $34.68M
YoY Change 7.38% -14.09%
Accrued Expenses $143.5M $118.6M
YoY Change 20.99% 23.47%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $800.4M $697.7M
YoY Change 14.72% 16.71%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $32.19M $23.22M
YoY Change 38.65% 2.45%
Total Long-Term Liabilities $260.7M $202.2M
YoY Change 28.96% 31.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $800.4M $697.7M
Total Long-Term Liabilities $260.7M $202.2M
Total Liabilities $1.061B $899.9M
YoY Change 17.92% 19.78%
SHAREHOLDERS EQUITY
Retained Earnings $1.169B $1.314B
YoY Change -11.0% -6.2%
Common Stock $25.18M $20.68M
YoY Change 21.75% -2.99%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.181B $1.321B
YoY Change
Total Liabilities & Shareholders Equity $2.242B $2.221B
YoY Change 0.94% 2.54%

Cashflow Statement

Concept 2016 Q1 2015 Q1
OPERATING ACTIVITIES
Net Income $75.42M $85.73M
YoY Change -12.03% 23.1%
Depreciation, Depletion And Amortization $14.00M $13.30M
YoY Change 5.26% 17.7%
Cash From Operating Activities $133.1M $142.3M
YoY Change -6.47% 73.54%
INVESTING ACTIVITIES
Capital Expenditures -$16.50M -$15.40M
YoY Change 7.14% 201.96%
Acquisitions
YoY Change
Other Investing Activities $46.00M $130.0M
YoY Change -64.62% 71.5%
Cash From Investing Activities $29.40M $114.6M
YoY Change -74.35% 62.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -199.7M -155.2M
YoY Change 28.67% 7.26%
NET CHANGE
Cash From Operating Activities 133.1M 142.3M
Cash From Investing Activities 29.40M 114.6M
Cash From Financing Activities -199.7M -155.2M
Net Change In Cash -37.20M 101.7M
YoY Change -136.58% 1187.34%
FREE CASH FLOW
Cash From Operating Activities $133.1M $142.3M
Capital Expenditures -$16.50M -$15.40M
Free Cash Flow $149.6M $157.7M
YoY Change -5.14% 81.06%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Description of Business</font></div><div style="line-height:120%;padding-top:6px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">F5 Networks, Inc. (the &#8220;Company&#8221;) is the leading developer and provider of software-defined application services. The Company&#8217;s core technology is a full-proxy, programmable, highly-scalable software platform called TMOS, which supports a broad array of features and functions designed to ensure that applications delivered over Internet Protocol (IP) networks are secure, fast and available. The Company&#8217;s TMOS-based offerings include software products for local and global traffic management, network and application security, access management, web acceleration and a number of other network and application services. These products are available as modules that can run individually or as part of an integrated solution on the Company&#8217;s high-performance, scalable, purpose-built BIG-IP appliances and VIPRION chassis-based hardware, or as software-only Virtual Editions. The Company also offers distributed denial-of-service </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(</font><font style="font-family:inherit;font-size:10pt;">DDoS) protection, application security and other application services by subscription on its cloud-based Silverline platform. In connection with its products, the Company offers a broad range of support services including consulting, training, installation and maintenance.</font></div></div>

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