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 $313.8 million, or $0.40 per share. This compares with $199.0 million, or $0.24 per share, in last year's fourth quarter.

Excluding items, Fortinet, Inc. reported adjusted earnings of $349.7 million or $0.44 per share for the period.

Analysts on average had expected the company to earn $0.39 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 32.8% to $1.28 billion from $963.6 million last year.

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

-Earnings (Q4): $313.8 Mln. vs. $199.0 Mln. last year. -EPS (Q4): $0.40 vs. $0.24 last year. -Analyst Estimate: $0.39 -Revenue (Q4): $1.28 Bln vs. $963.6 Mln last year.

-Guidance: Next quarter EPS guidance: $0.27-$0.29 Next quarter revenue guidance: $1.180-$1.220 bln