SUNNYVALE, Calif. (AP) — SUNNYVALE, Calif. (AP) — Fortinet Inc. (FTNT) on Thursday reported fourth-quarter net income of $506 million.
On a per-share basis, the Sunnyvale, California-based company said it had profit of 68 cents. Earnings, adjusted for one-time gains and costs, were 81 cents per share.
The results topped Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.
The network security company posted revenue of $1.91 billion in the period, which also beat Street forecasts. Fifteen analysts surveyed by Zacks expected $1.86 billion.
For the year, the company reported profit of $1.85 billion, or $2.42 per share. Revenue was reported as $6.8 billion.
For the current quarter ending in March, Fortinet expects its per-share earnings to range from 59 cents to 63 cents.
The company said it expects revenue in the range of $1.7 billion to $1.76 billion for the fiscal first quarter.
Fortinet expects full-year earnings in the range of $2.94 to $3 per share, with revenue ranging from $7.5 billion to $7.7 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
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