Fortinet, Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Fortinet, Inc. (FTNT) reported a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $138.4 M, or $0.84 per share. This compares with $107.2 million, or $0.64 per share, in last year's first quarter.

Excluding items, Fortinet, Inc. reported adjusted earnings of $155.1 million or $0.94 per share for the period.

Analysts on average had expected the company to earn $0.79 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 34.4% to $954.8 million from $710.3 million last year.

Fortinet, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $138.4 M. vs. $107.2 Mln. last year. -EPS (Q1): $0.84 vs. $0.64 last year. -Analyst Estimate: $0.79 -Revenue (Q1): $954.8 Mln vs. $710.3 Mln last year.

-Guidance: Next quarter EPS guidance: $1.05 - $1.10 Next quarter revenue guidance: $1.005 - $1.035 Bln Full year EPS guidance: $5.00 - $5.15 Full year revenue guidance: $4.350 - $4.400 Bln