Latin America. F5 Networks, Inc. announced revenue of $501.3 million in the fourth quarter of fiscal 2015, up 4% from $483.6 million in the prior quarter and 8% from $465.3 million in the fourth quarter of fiscal 2014. In fiscal 2015, revenue was $1.92 billion, up 11% from $1.73 billion last year.
Fourth quarter GAAP net income was $97.0 million ($1.36 per diluted share) compared to $93.2 million ($1.29 per diluted share) in the third quarter of 2015 and $94.0 million ($1.26 per diluted share) in the fourth quarter of the prior year. GAAP net income for the year was $365.0 million ($5.03 per diluted share) versus $311.2 million ($4.09 per diluted share) in fiscal 2014.
Excluding the impact of compensation and amortization with shares of intangible assets acquired, non-GAAP net income for the fourth quarter was $130.7 million ($1.84 per diluted share), compared to $120.2 million ($1.67 per diluted share) in the prior quarter and $116.7 million ($1.57 per diluted share) in the fourth quarter of fiscal 2014. For fiscal 2015, non-GAAP net income was $480.3 million ($6.62 per diluted share) versus $413.0 million ($5.43 per diluted share) in fiscal 2014.
A reconciliation of GAAP net income to non-GAAP net income in the annexed Consolidated Statements of Operations is included.
"Against the backdrop of a volatile macroeconomy, F5 had a year of solid growth and profitability," said Manny Rivelo, president and CEO of F5. "With fourth-quarter revenue projection above $2 billion, record annual revenue and gross profit margins contributed to a 17% increase in the company's GAAP net revenue for the year. From a regional perspective, the U.S. and EMEA markets performed most strongly, with solid year-over-year revenue growth in the fourth quarter, only marred by periods of weakness in Latin America, Canada and Japan.
"During the quarter, software sales continued to rise as a percentage of our product variety, reflecting incremental demand for our Virtual Editions and Good-Better-Best packages, and a sustained increase in sales of our cloud-based SaaS Silverline solutions and other subscription services. These trends validate our success in meeting the growing need for hybrid solutions that can be deployed and managed centrally on-premises and in the cloud, and we expect to continue to see these trends throughout fiscal 2016.
"In addition, we believe our planned product launches and new sales initiatives, combined with strong relationships with our partners, such as the recently announced partnership with FireEye, will continue to expand our accessible market and drive product sales over the course of the year. However, we expect its combined effect to be gradual and weighted towards the second half of the year.
