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21 Jan 2010
There are signs that some of the big vendors are hiring again, with application delivery specialist F5 Networks announcing it took on 100 staff in its fiscal first quarter.
NASDAQ-listed F5 said the move was made possible by strong revenue growth and stable gross margins.
F5’s Q1 revenue 2010 hit $191.2m (£118m) – 15.5 per cent up on last year and 9.2 per cent higher than the previous quarter.
Further reading
Net profit rose from $21.4m to $29.3m year on year.
Chief executive John McAdam said: “Our business in EMEA continues to be quite strong, with a 20 per cent increase in revenue from last quarter and a 15 per cent increase from the first quarter of fiscal 2009.”
F5 also pleasantly surprised Wall Street by bullishly predicting revenue of $195m-$200m in its traditionally weak fiscal second quarter to 31 March.
“While seasonal factors typically make the second quarter our most challenging, customer buying patterns continue to stabilise and our near-term business outlook remains strong,” McAdam said.
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