Fortinet: Q4 Earnings Snapshot

SUNNYVALE, Calif. (AP) — SUNNYVALE, Calif. (AP) — Fortinet Inc. (FTNT) on Tuesday reported fourth-quarter profit of $313.8 million.

The Sunnyvale, California-based company said it had profit of 40 cents per share. Earnings, adjusted for one-time gains and costs, were 44 cents per share.

The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.

The network security company posted revenue of $1.28 billion in the period, which fell short of Street forecasts. Thirteen analysts surveyed by Zacks expected $1.29 billion.

For the year, the company reported profit of $857.3 million, or $1.06 per share. Revenue was reported as $4.42 billion.

For the current quarter ending in March, Fortinet expects its per-share earnings to range from 27 cents to 29 cents.

The company said it expects revenue in the range of $1.18 billion to $1.22 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $1.27 billion.

Fortinet expects full-year earnings in the range of $1.39 to $1.41 per share, with revenue ranging from $5.37 billion to $5.43 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FTNT at https://www.zacks.com/ap/FTNT