$FFIV
F5, INC.

2016 Q2 Form 10-Q Financial Statement

#000104869516000041 Filed on July 27, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $496.5M $483.6M
YoY Change 2.68% 9.83%
Cost Of Revenue $84.34M $85.66M
YoY Change -1.54% 7.8%
Gross Profit $412.2M $397.9M
YoY Change 3.58% 10.28%
Gross Profit Margin 83.01% 82.29%
Selling, General & Admin $190.8M $183.5M
YoY Change 4.0% 9.39%
% of Gross Profit 46.29% 46.1%
Research & Development $83.04M $74.34M
YoY Change 11.71% 10.91%
% of Gross Profit 20.15% 18.68%
Depreciation & Amortization $14.50M $12.90M
YoY Change 12.4% 13.16%
% of Gross Profit 3.52% 3.24%
Operating Expenses $273.3M $257.8M
YoY Change 6.02% 9.82%
Operating Profit $138.9M $140.1M
YoY Change -0.9% 11.14%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $978.0K $720.0K
YoY Change 35.83% -39.65%
Pretax Income $139.8M $140.9M
YoY Change -0.72% 10.67%
Income Tax $48.05M $47.68M
% Of Pretax Income 34.36% 33.85%
Net Earnings $91.79M $93.17M
YoY Change -1.48% 17.24%
Net Earnings / Revenue 18.49% 19.27%
Basic Earnings Per Share $1.37 $1.30
Diluted Earnings Per Share $1.37 $1.29
COMMON SHARES
Basic Shares Outstanding 66.85M shares 71.51M shares
Diluted Shares Outstanding 67.24M shares 71.96M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $810.7M $797.7M
YoY Change 1.63% 30.47%
Cash & Equivalents $429.6M $562.2M
Short-Term Investments $381.1M $235.5M
Other Short-Term Assets $50.74M $50.21M
YoY Change 1.05% 12.47%
Inventory $33.81M $30.03M
Prepaid Expenses
Receivables $263.2M $261.1M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.208B $1.186B
YoY Change 1.89% 25.43%
LONG-TERM ASSETS
Property, Plant & Equipment $115.1M $83.51M
YoY Change 37.87% 33.29%
Goodwill $556.0M $557.0M
YoY Change -0.18% 1315.54%
Intangibles
YoY Change
Long-Term Investments $313.5M $361.7M
YoY Change -13.33% -28.88%
Other Assets $60.53M $71.16M
YoY Change -14.93% -7.45%
Total Long-Term Assets $1.046B $1.077B
YoY Change -2.88% -12.48%
TOTAL ASSETS
Total Short-Term Assets $1.208B $1.186B
Total Long-Term Assets $1.046B $1.077B
Total Assets $2.254B $2.262B
YoY Change -0.38% 3.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $37.45M $48.99M
YoY Change -23.55% 34.58%
Accrued Expenses $135.1M $115.4M
YoY Change 17.09% 22.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $799.4M $717.4M
YoY Change 11.42% 17.38%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $30.76M $25.91M
YoY Change 18.7% 15.81%
Total Long-Term Liabilities $267.3M $217.8M
YoY Change 22.73% 33.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $799.4M $717.4M
Total Long-Term Liabilities $267.3M $217.8M
Total Liabilities $1.067B $935.2M
YoY Change 14.06% 20.71%
SHAREHOLDERS EQUITY
Retained Earnings $1.190B $1.334B
YoY Change -10.8% -3.91%
Common Stock $9.996M $5.987M
YoY Change 66.96% -68.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.187B $1.327B
YoY Change
Total Liabilities & Shareholders Equity $2.254B $2.262B
YoY Change -0.38% 3.99%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $91.79M $93.17M
YoY Change -1.48% 17.24%
Depreciation, Depletion And Amortization $14.50M $12.90M
YoY Change 12.4% 13.16%
Cash From Operating Activities $170.5M $172.5M
YoY Change -1.16% 24.82%
INVESTING ACTIVITIES
Capital Expenditures -$16.20M -$21.20M
YoY Change -23.58% 285.45%
Acquisitions
YoY Change
Other Investing Activities $500.0K $166.4M
YoY Change -99.7% -3495.92%
Cash From Investing Activities -$15.50M $145.2M
YoY Change -110.67% -1482.86%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -123.6M -123.8M
YoY Change -0.16% -1.59%
NET CHANGE
Cash From Operating Activities 170.5M 172.5M
Cash From Investing Activities -15.50M 145.2M
Cash From Financing Activities -123.6M -123.8M
Net Change In Cash 31.40M 193.9M
YoY Change -83.81% 10105.26%
FREE CASH FLOW
Cash From Operating Activities $170.5M $172.5M
Capital Expenditures -$16.20M -$21.20M
Free Cash Flow $186.7M $193.7M
YoY Change -3.61% 34.79%

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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