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F5 Posts Highest Quarterly Revenue Growth and Largest Gain in Market Share for the Layer 4-7 Server Load Balancing (SLB) Switch Market

F5's revenue for the SLB switch market increases by 89 percent over the last quarter, triple that of its competition, according to the Dell'Oro Group Report

F5 Networks, Inc. (NASDAQ: FFIV), the leading provider of Internet Traffic and Content Management (iTCM) products, today announced that F5 has posted the highest quarterly revenue growth of any vendor in the Layer 4-7 (L4-7) Fixed Server Load Balancing (SLB)1 switch market. This represents an increase of 89 percent over the previous quarter ending December 31, 2001, according to the recent Dell'Oro Group Report2. Additionally, F5 has experienced the largest gain in market share over the last quarter, capturing 15 percent of the L4-7 SLB switch market within just 8 months.

"When we announced our IP Application Switch family we knew that the technology would be a market disrupter due to its optimized, all-in-one architecture with centralized processing, switch fabric design, and integrated SSL," said Dan Matte, vice president of product management and marketing at F5 Networks. "Customers have enthusiastically embraced F5's application switches because they clearly outclass the competition and offer an adaptive solution that can evolve with the demands placed on enterprise and service provider networks - saving considerable time and money. We're particularly pleased with our growth in market share to 15 percent, since we just began shipping the BIG-IP 5000 eight months ago and the BIG-IP 2000 five months ago."

The Dell'Oro Report measured market share based on revenue attainment for all the major Layer 4-7 SLB switch manufacturers. According to the Dell'Oro Report, sales of F5's BIG-IP Application Switches grew to $9.1 million for the quarter, representing an 89 percent growth in revenue over the previous quarter. Of the top four vendors measured in the report, F5 posted the largest gain in market share based on revenue. Besides F5, only one of these four vendors increased its revenue, while the others decreased. The report also reveals that F5 has achieved the greatest increase in market share, up 6.5 percent, over the last quarter.

1 Layer 4-7 Fixed Server Load Balancing (SLB) definition: Switches specially designed to switch network or Internet traffic optimally between a group of servers and must load balance traffic based on L4/L7 information (e.g. TCP port, URL, Cookie). Load balancing functionality must be native to the switch.

2 Source: Dell'Oro Group 1Q 2002 Ethernet (Layer 4-7) Switch Report, May 15, 2002.

About F5 Networks

F5 Networks is the leader in Internet Traffic and Content Management (iTCM), and delivers application aware networks through its open Internet Control Architecture. F5 features the industry's leading set of integrated products and services that manage, control and optimize Internet traffic and content. Our solutions automatically and intelligently deliver the best possible Internet performance, availability and content distribution for service providers, enterprises and e-businesses. Our products remove bandwidth congestion and optimize the availability and speed of mission-critical Internet servers and applications, including web publishing, content delivery, e-commerce, caching, firewalls and more. Our solutions are widely deployed in large enterprises, the top service providers, financial institutions, government agencies, healthcare, and portals throughout the world. The company is headquartered in Seattle, Washington, and has offices throughout North America, Europe and Asia Pacific. F5 Networks is located on the web at www.f5.com.

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This press release may contain forward looking statements relating to future events or future financial performance that involve risks and uncertainties. Such statements can be identified by terminology such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," or "continue," or the negative of such terms or comparable terms. These statements are only predictions and actual results could differ materially from those anticipated in these statements based upon a number of factors including those identified in the company's filings with the SEC.

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