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$FFIV 3Q15 Call: F5 had three greater than 10% distributors, Westcon, which accounted for 19.2%; Ingram Micro, which represented 16.7%; and Avnet representing 13.5%. GAAP Results: GM was 82.3%. OpEx was $257.8MM, at the low end of the guided range of $257-266MM. Operating margin was 29%. Effective tax rate was 33.9%.
No better outlook on $MSFT. Even if the results beat a bit, the stock may move 4 to 6% higher, but won't go above $60.