Fortinet, Inc. Q4 Profit Increases, beats estimates

(RTTNews) - Fortinet, Inc. (FTNT) released earnings for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $199.0 million, or $1.19 per share. This compares with $146.7M, or $0.89 per share, in last year's fourth quarter.

Excluding items, Fortinet, Inc. reported adjusted earnings of $205.8 million or $1.23 per share for the period.

Analysts on average had expected the company to earn $1.15 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 28.8% to $963.6 million from $748.0 million last year.

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

-Earnings (Q4): $199.0 Mln. vs. $146.7M. last year. -EPS (Q4): $1.19 vs. $0.89 last year. -Analyst Estimate: $1.15 -Revenue (Q4): $963.6 Mln vs. $748.0 Mln last year.

-Guidance: Next quarter EPS guidance: $0.75 to $0.80 Next quarter revenue guidance: $865 - $895 Mln