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Fortinet revenues rise on flat net income

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Published on July 26, 2012; Published on July 26, 2012
OBJ Staff

Fortinet (NASDAQ:FTNT) saw second-quarter revenues rise by 25 per cent amid a slight decline in net income.

Topics :: U.S.

The IT security firm posted revenues of US$129 million compared with $103 million in the same quarter in 2011.

GAAP quarterly net income was $14 million, based on a 37 per cent tax rate; last year it was $14.5 million, based on a 25 per cent tax rate.

"Our strong performance in the second quarter highlights the demand for our network security offerings, which deliver unmatched performance and broad, flexible deployment options," stated CEO Ken Xie.

"We had healthy growth across all geographies and continued market share gains, especially with large U.S. enterprises. The momentum for Fortinet is high and we are excited about our technology roadmap for the second half of the year."

The California-based firm, which has a presence in Ottawa, specializes in integrated firewall, web filtering, anti-spam, traffic shaping and other security solutions.

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