F5 Networks, Inc. reported unaudited consolidated earnings results for the first quarter ended December 31, 2015. For the first quarter of fiscal 2016, the company announced revenue of $489.5 million, reflecting 6% growth from $462.8 million in the first quarter of fiscal 2015. GAAP net income was $89.7 million or $1.28 per diluted share, compared to $89.1 million or $1.21 per diluted share in the first quarter a year ago. Excluding the impact of stock-based compensation and amortization of purchased intangible assets, non-GAAP net income was $120.6 million or $1.73 per diluted share, compared to $114.2 million or $1.55 per diluted share in the first quarter of last year. Income from operations was $130.949 million against $132.315 million a year ago. Income before income taxes was $132.084 million against $134.909 million a year ago. Net cash provided by operating activities was $203.871 million against $186.395 million a year ago. Acquisition of intangible assets was $3.250 million against $1.005 million a year ago. Purchases of property and equipment were $13.292 million against $10.319 million a year ago. Capital expenditures for the quarter were $13.3 million.

For the second quarter ending March 31, 2016, the company has set a revenue goal of $480 million to $490 million with a GAAP earnings target of $1.13 to $1.16 per diluted share and a non-GAAP earnings target is $1.61 to $1.64 per diluted share. The company expects net income of $78.7 million to $80.8 million. The company expects non-GAAP net income excluding stock-based compensation expense and amortization of purchased intangible assets of $111.9 million to $114.0 million. The company expects amortization of purchased intangible assets of $3.5 million. GAAP gross margin is anticipated to be at or around 82.5%. Non-GAAP gross margin is expected to be at or around 84%. For quarter, the company anticipates GAAP operating expenses in the range of $272 million to $281 million. The company forecasting a GAAP effective tax rate of 36.5% and a non-GAAP effective tax rate of 34%.