<SUBMISSION>
<ACCESSION-NUMBER>0000891020-05-000171
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20050608
<ITEMS>5.02
<ITEMS>7.01
<ITEMS>9.01
<FILING-DATE>20050613
<DATE-OF-FILING-DATE-CHANGE>20050613
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>F5 NETWORKS INC
<CIK>0001048695
<ASSIGNED-SIC>3576
<IRS-NUMBER>911714307
<STATE-OF-INCORPORATION>WA
<FISCAL-YEAR-END>0930
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-26041
<FILM-NUMBER>05892507
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>401 ELLIOT AVE WEST
<STREET2>STE 500
<CITY>SEATTLE
<STATE>WA
<ZIP>98119
<PHONE>2062725555
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>401 ELLIOT AVE WEST
<STREET2>STE 500
<CITY>SEATTLE
<STATE>WA
<ZIP>98119
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>F5 LABS INC
<DATE-CHANGED>19990305
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v09976e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<DIV style="font-family: 'Times New Roman',Times,serif">



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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>


<P align="center" style="font-size: 12pt"><B>CURRENT REPORT</B>



<P align="center" style="font-size: 12pt"><B>Pursuant to
Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>



<P align="center" style="font-size: 10pt">Date of Report (Date of
Earliest Event Reported):<BR>
June&nbsp;8, 2005



<P align="center" style="font-size: 24pt"><B>F5 Networks, Inc.</B>


<DIV align="center" style="font-size: 10pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD align="center" valign="top">Washington
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">000-26041
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">91-1714307</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction<BR>
of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission<BR>
File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(IRS Employer<BR>
Identification No.)</TD>
</TR>
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</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">401 Elliott Avenue West<BR>
Seattle, WA 98119


<DIV align="center" style="font-size: 10pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
(Address of principal executive offices) (Zip Code)</DIV>



<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(206)&nbsp;272-5555



<P align="center" style="font-size: 10pt">Not Applicable


<DIV align="center" style="font-size: 10pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></DIV>


<DIV align="center" style="font-size: 10pt">Former name or former address, if changed since last report</DIV>


<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:


<P align="left" style="font-size: 10pt"><FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)


<P align="left" style="font-size: 10pt"><FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)


<P align="left" style="font-size: 10pt"><FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))


<P align="left" style="font-size: 10pt"><FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))



<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>







<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P align="left" style="font-size: 10pt"><B>Item&nbsp;5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of
Principal Officers</B>


<P align="left" style="font-size: 10pt">On June&nbsp;8, 2005, Steven B. Coburn, the Company&#146;s Chief Financial Officer, advised the Company that
he intends to resign for personal reasons. It is anticipated that Mr.&nbsp;Coburn&#146;s resignation will be
effective in August&nbsp;2005.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;7.01. Regulation&nbsp;FD Disclosure.</B>


<P align="left" style="font-size: 10pt">On June&nbsp;13, 2005, the Company issued a press release reaffirming its previous guidance regarding
its third quarter revenues and earnings. A copy of the press release is included as an exhibit to
this filing.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;9.01. Financial Statements and Exhibits.</B>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>99.1 Press release dated June&nbsp;13, 2005.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>


<P align="left" style="font-size: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.



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    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">F5 NETWORKS, INC.<BR>
(Registrant)<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: June 9, 2005&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left"><I>/s/ Joann Reiter</I>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Joann Reiter&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Vice President, General Counsel and Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v09976exv99w1.htm
<DESCRIPTION>EXHIBIT 99.1
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<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="right" style="font-size: 10pt">Exhibit&nbsp;99.1



<P align="left" style="font-size: 10pt"><B>FOR IMMEDIATE RELEASE</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="8%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>CONTACT:</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Investor Relations</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">John Eldridge</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(206) 272-6571</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><u>j.eldridge@f5.com</u></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">F5 Networks Announces CFO Plans to Resign



<P align="center" style="font-size: 10pt"><I>Company reaffirms guidance for third quarter of fiscal 2005</I>


<P align="left" style="font-size: 10pt">SEATTLE, WA&#151;June&nbsp;13, 2005&#151;F5 Networks announced today that Steve Coburn, senior vice president of
Finance and chief financial officer, plans to resign from the company in the fourth quarter of
fiscal 2005. Coburn, who joined the company in June&nbsp;2001, said his decision was based on personal
considerations and that he has no immediate plans to seek other employment.


<P align="left" style="font-size: 10pt">&#147;When I took on my responsibilities as F5&#146;s CFO in the summer of 2001 it was a challenging time for
the company,&#148; Coburn said. &#147;During the subsequent four years, I&#146;ve had the privilege of working
with an exceptional executive team that has succeeded in building a highly effective business model
and has put the company on a solid growth track. Among the accomplishments I am personally proud
of is developing a strong and flexible Finance organization with the talent, expertise and
discipline necessary to manage the financial aspects of the business and support the company&#146;s
continued growth. Having done that, I believe it&#146;s an opportune time for me to begin a transition
I&#146;ve contemplated for some time.&#148;


<P align="left" style="font-size: 10pt">Commenting on the many contributions Coburn has made to the F5 organization, president and chief
executive officer John McAdam said those contributions went beyond his responsibilities as CFO.
&#147;In addition to Steve&#146;s key role in building a solid financial foundation for the company, his
oversight of human resources, information technology and investor relations has had a major impact
on the company&#146;s growth and in raising awareness of F5 in financial markets. Throughout his
tenure, I&#146;ve enjoyed working with Steve personally and professionally, and I will be sorry to see
him go. At the same time, I&#146;m confident that the organizations and processes Steve has put in
place will make it easy to recruit a strong successor.&#148;


<P align="left" style="font-size: 10pt">With the announcement of Coburn&#146;s planned departure, McAdam said he believed it was appropriate to
set aside the company&#146;s policy of not updating financial guidance for the

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="font-size: 10pt">current quarter.
&#147;Although we have three important weeks left in the third quarter, business to date is tracking
with our expectations. As we expected, sales in Japan are experiencing seasonal weakness,
reflecting the first quarter of Japan&#146;s fiscal year, and will be down sequentially from the prior
quarter. Also as expected, we have seen strong results in North America, Europe and Asia-Pacific.
As a result, we are reaffirming the revenue and earnings guidance we provided in our second quarter
earnings release and conference call on April&nbsp;20. &#148;


<P align="left" style="font-size: 10pt">On April&nbsp;20, the company set a third quarter revenue target of $70&nbsp;million to $72&nbsp;million, with an
earnings target of $0.33 to $0.34 per diluted share.


<P align="left" style="font-size: 10pt">&#147;Looking out a bit further,&#148; McAdam added, &#147;we continue to see our pipeline of business
strengthening as we move toward Q4.&#148;


<P align="left" style="font-size: 10pt"><B>Conference Call</B><BR>
John McAdam and Steve Coburn will hold a conference call today, Monday, June&nbsp;13, at 4:30 p.m.
Eastern Time (1:30 p.m. Pacific Time) to discuss the information contained in this release. Call
in numbers: 1-800-619-0355 (US and Canada) and 210-234-0001 (international); conference passcode:
F5 Networks. To listen to the webcast, go to
<U>http://www.f5.com/f5/ir/calendar.html</U>.


<P align="left" style="font-size: 10pt"><B>About F5 Networks</B><BR>
F5 enables organizations to successfully deliver business-critical applications and gives them the
greatest level of agility to stay ahead of growing business demands. As the pioneer and global
leader in Application Traffic Management, F5 continues to lead the industry by driving more
intelligence into the network to deliver advanced application agility. F5 products ensure the
secure and optimized delivery of applications to any user &#151; anywhere. Through its flexible and
cohesive architecture, F5 delivers unmatched value by dramatically improving the way organizations
serve their employees, customers and constituents, while lowering operational costs. The company
is headquartered in Seattle, Washington with offices worldwide. For more information go to
www.f5.com.


<P align="left" style="font-size: 10pt"><B>Forward Looking Statements</B><BR>
Statements in this press release concerning revenue and earnings targets for the third quarter of
fiscal 2005 and other statements that are not historical facts are forward-looking
statements. Such forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of the Company, or
industry results, to be materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such factors include, among others:
customer acceptance of our

<P align="center" style="font-size: 10pt">&nbsp;
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<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="font-size: 10pt">new traffic management and security offerings, the timely development,
introduction and acceptance of additional new products and features by F5 or its competitors;
competitive pricing pressures; increased sales discounts; F5&#146;s ability to sustain, develop and
effectively utilize distribution relationships; F5&#146;s ability to attract, train and retain qualified
product development, marketing, sales, professional services and customer support personnel; F5&#146;s
ability to expand in international markets and the unpredictability of F5&#146;s sales cycle, including
the completion of sales within a given financial period. F5 has no duty to update any guidance
provided or other matters discussed in this press release. More information about potential risk
factors that could affect F5&#146;s business and financial results is included in the Company&#146;s annual
report on Form&nbsp;10K for the fiscal year ended September&nbsp;30, 2004, and other public filings with the
Securities and Exchange Commission.



<P align="center" style="font-size: 10pt"># # # #




<P align="center" style="font-size: 10pt">&nbsp;
</DIV>


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