F5 Networks Inc. (FFIV) Thursday lowered its second-quarter financial guidance, hurt mainly by a "slowdown in North America."
F5 Networks now expects second-quarter earnings of $0.79 to $0.80 per share, adjusted earnings of $1.06 to $1.07 per share and revenues to be $350.2 million.
Previously, the company expected earnings of $0.93 to $0.96 per share, adjusted earnings of $1.21 to $1.24 per share and revenues of $370 million to $380 million.
Analysts polled by Thomson Reuters currently expect earnings of $1.23 per share on revenues of $375.8 million for the quarter. Analysts' estimates typically excludes special items.
Chief Executive John McAdam said the revenue shortfall resulted primarily from a slowdown in North American and to a lesser extent EMEA sales, while sales in Japan and Asia-Pacific were essentially in line with the company's expectations.
McAdam also said that the company will provide more details during its regularly scheduled release and conference call on April 24.
FFIV closed Thursday's trading on the Nasdaq at $90.42, down $0.10 or 0.11%.
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