pj McMulligan
12年前
Nice pincher chart formations with pps up over the 15dma, bullish SAR flip, +earnings~
[Fortinet Reports First Quarter 2013 Financial Results
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SUNNYVALE, CA -- (Marketwired) -- 04/30/13 -- Fortinet® (NASDAQ: FTNT)
Revenues of $135.8 million, up 16% year over year
Billings of $148.5 million, up 8% year over year(1)
GAAP diluted net income per share of $0.07
Non-GAAP diluted net income per share of $0.10(1)
Cash flow from operations of $37.7 million
Free cash flow of $36.1 million(1)
Cash, cash equivalents and investments of $782.5 million, with no debt
Fortinet® (NASDAQ: FTNT) -- a leader in high-performance network security -- today announced financial results for the first quarter ended March 31, 2013.
Financial Highlights for the First Quarter of 2013
Revenue: Total revenue was $135.8 million for the first quarter of 2013, an increase of 16% compared to $117.2 million in the same quarter of 2012. Within total revenue, product revenue was $58.0 million, an increase of 9% compared to the same quarter of 2012. Services revenue was $75.9 million, an increase of 22% compared to the same quarter of 2012.
Billings(1): Total billings were $148.5 million for the first quarter of 2013, an increase of 8% compared to $137.0 million in the same quarter of 2012.
Deferred Revenue: Deferred revenue was $376.4 million as of March 31, 2013, an increase of 20% compared to deferred revenue of $314.6 million as of March 31, 2012, and up $13.2 million from $363.2 million as of December 31, 2012.
Cash and Cash Flow(1): As of March 31, 2013, cash, cash equivalents and investments were $782.5 million, compared to $739.6 million as of December 31, 2012. In the first quarter of 2013, cash flow from operations was $37.7 million and free cash flow was $36.1 million.
GAAP Operating Income(1): GAAP operating income was $15.4 million for the first quarter of 2013, representing a GAAP operating margin of 11%. GAAP operating income was $18.7 million for the same quarter of 2012, representing a GAAP operating margin of 16%.
GAAP Net Income and Diluted Net Income Per Share(1): GAAP net income was $12.2 million for the first quarter of 2013, based on a 28% tax rate for the quarter. This compares to GAAP net income of $14.2 million for the same quarter of 2012, based on a 28% tax rate for the quarter. GAAP diluted net income per share was $0.07 for the first quarter of 2013, based on 167.8 million weighted-average diluted shares outstanding, compared to $0.09 for the same quarter of 2012, based on 165.8 million weighted-average diluted shares outstanding.
Non-GAAP Operating Income(1): Non-GAAP operating income was $24.2 million for the first quarter of 2013, representing a non-GAAP operating margin of 18%. Non-GAAP operating income was $25.5 million for the same quarter of 2012, representing a non-GAAP operating margin of 22%.
Non-GAAP Net Income and Diluted Net Income Per Share(1): Non-GAAP net income was $17.3 million for the first quarter of 2013, based on a 33% effective tax rate for the quarter. Non-GAAP net income for the same quarter of 2012 was $17.5 million, based on a 34% effective tax rate. Non-GAAP diluted net income per share was $0.10 for the first quarter of 2013 based on 167.8 million weighted-average diluted shares outstanding, compared to $0.11 for the same quarter of 2012, based on 165.8 million weighted-average diluted shares outstanding.
(1) A reconciliation of GAAP to non-GAAP financial measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading "Non-GAAP Financial Measures."
"While we performed well in Asia Pacific and the U.S. enterprise sector, our first quarter results were affected primarily by macroeconomic and geopolitical challenges in Latin America and EMEA, a shortfall in U.S service provider business, and to a lesser extent some inventory shortages and product transition issues," said Ken Xie, founder, president and chief executive officer. "Given the macro uncertainty, we are moving forward cautiously yet confidently, as the network security market remains healthy and Fortinet's competitive position and product advantage remains strong."
Conference Call Details
Fortinet will host a conference call today, April 30, 2013, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) to discuss its financial results. To access this call, dial (877) 303-6913 (domestic) or (224) 357-2188 (international) with conference ID # 34804106. A live webcast of the conference call and supplemental slides will be accessible from the Investor Relations page of Fortinet's website at http://investor.fortinet.com and a replay will be archived and accessible at http://investor.fortinet.com/events.cfm. A replay of this conference call can also be accessed through May 7, 2013, by dialing (855) 859-2056 (domestic) or (404) 537-3406 (international) with conference ID# 34804106.
Following Fortinet's earnings conference call, the Company will host an additional question-and-answer session at 3:30 p.m. Pacific Time (6:30 p.m. Eastern Time) to provide an opportunity for financial analysts and investors to ask more detailed product and financial questions. To access this call, dial (877) 303-6913 (domestic) or (224) 357-2188 (international) with conference ID # 34804106. This follow-up call will be webcast live and accessible at http://investor.fortinet.com, and a replay will be archived and available after the call at http://investor.fortinet.com/events.cfm. A replay of this conference call will also be available through May 7, 2013 by dialing (855) 859-2056 (domestic) or (404) 537-3406 (international) with conference ID # 34804106.
About Fortinet (www.fortinet.com)
Fortinet (NASDAQ: FTNT) is a worldwide provider of network security appliances and a market leader in unified threat management (UTM). Our products and subscription services provide broad, integrated and high-performance protection against dynamic security threats while simplifying the IT security infrastructure. Our customers include enterprises, service providers and government entities worldwide, including the majority of the 2012 Fortune Global 100. Fortinet's flagship FortiGate product delivers ASIC-accelerated performance and integrates multiple layers of security designed to help protect against application and network threats. Fortinet's broad product line goes beyond UTM to help secure the extended enterprise -- from endpoints, to the perimeter and the core, including databases and applications. Fortinet is headquartered in Sunnyvale, Calif., with offices around the world.
Copyright © 2013 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and unregistered trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet's trademarks include, but are not limited to, the following: Fortinet, FortiGate, FortiGuard, FortiManager, FortiMail, FortiClient, FortiCare, FortiAnalyzer, FortiReporter, FortiOS, FortiASIC, FortiWiFi, FortiSwitch, FortiVoIP, FortiBIOS, FortiLog, FortiResponse, FortiCarrier, FortiScan, FortiDB and FortiWeb. Other trademarks belong to their respective owners.
FTNT-F
Forward-looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements include statements regarding the potential growth of our business. Although we attempt to be accurate in making forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. Important factors that could cause results to differ materially from the statements herein include the following: general economic risks; specific economic risks in different geographies and among different customer segments; uncertainty regarding increased business and renewals from existing customers; uncertainties around continued success in sales growth and market share gains; failure to convert sales pipeline into final sales; risks associated with successful implementation of multiple integrated software products and other product functionality risks; execution risks around new product development and introductions and innovation; litigation and disputes and the potential cost, distraction and damage to sales and reputation caused thereby; market acceptance of new products and services; the ability to attract and retain personnel; changes in strategy; risks associated with management of growth; lengthy sales and implementation cycles, particularly in larger organizations and service providers; technological changes that make our products and services less competitive; risks associated with the adoption of, and demand for, the UTM model in general and by specific customer segments; competition and pricing pressure; and the other risk factors set forth from time to time in our most recent Annual Report on Form 10-K, our most recent Quarterly Report on Form 10-Q and our other filings with the SEC, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from our investor relations department. All forward-looking statements herein reflect our opinions only as of the date of this release, and we undertake no obligation, and expressly disclaim any obligation, to update forward-looking statements herein in light of new information or future events.
Non-GAAP Financial Measures
We have provided in this release financial information that has not been prepared in accordance with Generally Accepted Accounting Principles (GAAP). We use these non-GAAP financial measures internally in analyzing our financial results and believe they are useful to investors, as a supplement to GAAP measures, in evaluating our ongoing operational performance. We believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial results with other companies in our industry, many of which present similar non-GAAP financial measures to investors.
Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures below. As previously mentioned, a reconciliation of our non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included below in this press release.
Billings. We define billings as revenue recognized plus the change in deferred revenue from the beginning to the end of the period less any deferred revenue balances acquired from business combination(s) during the period. We consider billings to be a useful metric for management and investors because billings drive deferred revenue, which is an important indicator of the health and visibility of our business, and has historically represented a majority of the quarterly revenue that we recognize. There are a number of limitations related to the use of billings versus revenue calculated in accordance with GAAP. First, billings include amounts that have not yet been recognized as revenue. Second, we may calculate billings in a manner that is different from other companies that report similar financial measures. Management compensates for these limitations by providing specific information regarding GAAP revenue and evaluating billings together with revenues calculated in accordance with GAAP.
Free cash flow. We define free cash flow as net cash provided by operating activities minus capital expenditures. We consider free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business that, after the acquisition of property and equipment, can be used for strategic opportunities, including investing in our business, making strategic acquisitions, and strengthening the balance sheet. Analysis of free cash flow facilitates management's comparisons of our operating results to competitors' operating results. A limitation of using free cash flow versus the GAAP measure of net cash provided by operating activities as a means for evaluating the Company is that free cash flow does not represent the total increase or decrease in the cash balance from operations for the period because it excludes cash used for capital expenditures. Management compensates for this limitation by providing information about our capital expenditures on the face of the cash flow statement and under the caption "Management's Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital Resources" in our most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K.
Non-GAAP operating income and operating margin. We define non-GAAP operating income as operating income plus stock-based compensation reduced by the income from payments we received from a patent settlement. Non-GAAP operating margin is defined as non-GAAP operating income divided by revenue. We consider these non-GAAP financial measures to be
useful metrics for management and investors because they exclude the effect of stock-based compensation expense and patent settlement related income so that our management and investors can compare our recurring core business operating results over multiple periods. There are a number of limitations related to the use of non-GAAP operating income versus operating income calculated in accordance with GAAP. First, non-GAAP operating income excludes stock-based compensation expense. Stock-based compensation has been and will continue to be for the foreseeable future a significant recurring expense in our business. Second, stock-based compensation is an important part of our employees' compensation and impacts their performance. Third, the components of the costs that we exclude in our calculation of non-GAAP operating income may differ from the components that our peer companies exclude when they report their non-GAAP results of operations. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from non-GAAP operating income and evaluating non-GAAP operating income together with operating income calculated in accordance with GAAP.
Non-GAAP net income and diluted net income per share. We define non-GAAP net income as net income plus stock-based compensation expense reduced by the income from payments we received from a patent settlement, and includes the impact of the tax adjustment, if any, required to achieve the effective tax rate on a pro forma basis, which could differ from the GAAP tax rate. We define non-GAAP diluted net income per share as non-GAAP net income divided by the weighted-average diluted shares outstanding. We consider these non-GAAP financial measures to be useful metrics for management and investors for the same reasons that we use non-GAAP operating income and non-GAAP operating margin. However, in order to provide a complete picture of our recurring core business operating results, we include in non-GAAP net income and non-GAAP diluted net income per share, the tax adjustment required to achieve the effective tax rate on a pro forma basis, which could differ from the GAAP tax rate. We believe the effective tax rates we used are reasonable estimates of long-term normalized tax rates under our global operating structure. The same limitations described above regarding our use of non-GAAP operating income and non-GAAP operating margin apply to our use of non-GAAP net income and non-GAAP diluted net income per share. We compensate for these limitations by providing specific information regarding the GAAP amounts excluded from non-GAAP net income and non-GAAP diluted net income per share and evaluating non-GAAP net income and non-GAAP diluted net income per share together with net income and diluted net income per share calculated in accordance with GAAP.
FORTINET, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited, in thousands)
March 31, December 31,
2013 2012
------------ ------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 97,384 $ 122,975
Short-term investments 362,996 290,719
Accounts receivable-Net 102,359 107,642
Inventory 23,933 21,060
Prepaid expenses and other current assets 26,988 26,878
------------ ------------
Total current assets 613,660 569,274
PROPERTY AND EQUIPMENT-Net 25,803 25,638
LONG-TERM INVESTMENTS 322,158 325,892
GOODWILL AND OTHER INTANGIBLE ASSETS-Net 9,964 2,117
OTHER ASSETS 61,144 52,576
------------ ------------
TOTAL ASSETS $ 1,032,729 $ 975,497
============ ============
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable $ 26,369 $ 20,816
Accrued liabilities 21,677 22,263
Accrued payroll and compensation 26,350 28,957
Deferred revenue 257,332 247,268
------------ ------------
Total current liabilities 331,728 319,304
DEFERRED REVENUE-Non-current 119,082 115,917
OTHER LIABILITIES 34,210 29,342
------------ ------------
Total liabilities 485,020 464,563
------------ ------------
STOCKHOLDERS' EQUITY:
Common stock 164 162
Additional paid-in capital 425,524 400,075
Treasury stock (2,995) (2,995)
Accumulated other comprehensive income 2,166 3,091
Retained earnings 122,850 110,601
------------ ------------
Total stockholders' equity 547,709 510,934
------------ ------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 1,032,729 $ 975,497
============ ============
FORTINET, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, in thousands, except per share amounts)
Three Months Ended
--------------------------
March 31, March 31,
2013 2012
------------- ------------
REVENUE:
Product $ 57,950 $ 53,204
Services 75,896 62,138
Ratable and other revenue 1,974 1,905
------------- ------------
Total revenue 135,820 117,247
------------- ------------
COST OF REVENUE:
Product (1) 22,958 19,067
Services (1) 15,574 11,213
Ratable and other revenue 596 763
------------- ------------
Total cost of revenue 39,128 31,043
------------- ------------
GROSS PROFIT:
Product 34,992 34,137
Services 60,322 50,925
Ratable and other revenue 1,378 1,142
------------- ------------
Total gross profit 96,692 86,204
------------- ------------
OPERATING EXPENSES:
Research and development (1) 23,334 19,667
Sales and marketing (1) 49,976 42,036
General and administrative (1) 7,991 5,786
------------- ------------
Total operating expenses 81,301 67,489
------------- ------------
OPERATING INCOME 15,391 18,715
INTEREST INCOME 1,369 1,085
OTHER INCOME (EXPENSE)-Net 215 (71)
------------- ------------
INCOME BEFORE INCOME TAXES 16,975 19,729
PROVISION FOR INCOME TAXES 4,726 5,556
------------- ------------
NET INCOME $ 12,249 $ 14,173
============= ============
Net income per share:
Basic $ 0.08 $ 0.09
============= ============
Diluted $ 0.07 $ 0.09
============= ============
Weighted-average shares outstanding:
Basic 161,282 156,010
============= ============
Diluted 167,823 165,751
============= ============
(1) Includes stock-based compensation expense as
follows:
Cost of product revenue $ 90 $ 64
Cost of services revenue 1,020 745
Research and development 2,766 1,957
Sales and marketing 4,118 3,443
General and administrative 1,305 1,037
------------- ------------
$ 9,299 $ 7,246
============= ============
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Unaudited, in thousands)
Three Months Ended
--------------------------
March 31, March 31,
2013 2012
------------ ------------
Net income $ 12,249 $ 14,173
Other comprehensive (loss) income, net of
reclassification adjustments:
Foreign currency translation (losses) gains (952) 558
Unrealized gains on investments 42 1,799
Tax provision related to items of other
comprehensive income or loss (15) (629)
------------ ------------
Other comprehensive (loss) income, net of tax (925) 1,728
------------ ------------
Comprehensive income $ 11,324 $ 15,901
============ ============
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited, in thousands)
Three Months Ended
--------------------------
March 31, March 31,
2013 2012
------------ ------------
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $ 12,249 $ 14,173
Adjustments to reconcile net income to net
cash provided by operating activities:
Depreciation and amortization 3,098 2,082
Amortization of investment premiums 3,051 3,255
Stock-based compensation 9,299 7,246
Excess tax benefit from employee stock
option plans (1,453) (2,320)
Other non-cash items, net (540) 19
Changes in operating assets and liabilities:
Accounts receivable-Net 5,747 10,763
Inventory (4,520) (3,409)
Prepaid expenses and other current assets (202) (345)
Other assets (8,568) 569
Accounts payable 4,957 (6,319)
Accrued liabilities (11) (231)
Accrued payroll and compensation (2,416) (547)
Deferred revenue 12,677 19,696
Income taxes payable 4,305 3,886
------------ ------------
Net cash provided by operating activities 37,673 48,518
------------ ------------
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of investments (171,506) (192,567)
Sales of investments 13,823 17,416
Maturities of investments 86,018 115,026
Purchases of property and equipment (1,534) (1,624)
Payments made in connection with business
acquisitions (5,979) (550)
------------ ------------
Net cash used in investing activities (79,178) (62,299)
------------ ------------
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock 14,464 13,551
Excess tax benefit from employee stock option
plans 1,453 2,320
------------ ------------
Net cash provided by financing activities 15,917 15,871
------------ ------------
EFFECT OF EXCHANGE RATES ON CASH AND CASH
EQUIVALENTS (3) 703
------------ ------------
NET (DECREASE) INCREASE IN CASH AND CASH
EQUIVALENTS (25,591) 2,793
CASH AND CASH EQUIVALENTS-Beginning of period 122,975 71,990
------------ ------------
CASH AND CASH EQUIVALENTS-End of period $ 97,384 $ 74,783
============ ============
Reconciliations of non-GAAP results of operations measures to the nearest
comparable GAAP measures
(Unaudited, in thousands)
Reconciliation of GAAP revenue to billings
Three Months Ended
--------------------------
March 31 March 31,
2013 2012
------------ ------------
Total revenue $ 135,820 $ 117,247
Add increase in deferred revenue 13,229 19,739
Less deferred revenue balance acquired in
business combination (550) -
------------ ------------
Total billings (Non-GAAP) $ 148,499 $ 136,986
============ ============
Reconciliation of net cash provided by operating activities to free cash
flow
Three Months Ended
--------------------------
March 31, March 31,
2013 2012
------------ ------------
Net cash provided by operating activities $ 37,673 $ 48,518
Less purchases of property and equipment (1,534) (1,624)
------------ ------------
Free cash flow (Non-GAAP) $ 36,139 $ 46,894
============ ============
Reconciliation of non-GAAP results of operations to the nearest comparable
GAAP measures
(Unaudited, in thousands, except per share amounts)
Reconciliation of GAAP to Non-GAAP operating income, operating margin, net
income and diluted net income per share
Three Months Ended March 31, Three Months Ended March 31,
2013 2012
-------------------------------- --------------------------------
GAAP Adjust- Non-GAAP GAAP Adjust- Non-GAAP
Results ments Results Results ments Results
-------- -------- -------- -------- -------- --------
Operating
Income $ 15,391 $ 8,821 (a) $ 24,212 $ 18,715 $ 6,768 (b) $ 25,483
======== ======== ======== ======== ======== ========
Operating
Margin 11% 18% 16% 22%
======== ======== ======== ========
Adjustments:
Stock-based
compensation
expense 9,299 7,246
Patent
settlement
income (478) (478)
Tax
adjustment (3,787) (c) (3,453) (d)
-------- --------
Net
Income $ 12,249 $ 5,034 $ 17,283 $ 14,173 $ 3,315 $ 17,488
======== ======== ======== ========
Diluted
net income
per
share $ 0.07 $ 0.10 $ 0.09 $ 0.11
======== ======== ======== ========
Shares
used in
per share
calculations -
diluted 167,823 167,823 165,751 165,751
======== ======== ======== ========
(a) To exclude $9.3 million of stock-based compensation expense offset by
$0.5 million of patent settlement income in the three months ended March
31, 2013.
(b) To exclude $7.2 million of stock-based compensation expense offset by
$0.5 million of patent settlement income in the three months ended March
31, 2012.
(c) Non-GAAP financial information is adjusted to achieve an overall 33
percent effective tax rate on a pro forma basis, which differs from the
GAAP tax rate, in the three months ended March 31, 2013.
(d) Non-GAAP financial information is adjusted to achieve an overall 34
percent effective tax rate on a pro forma basis, which differs from the
GAAP tax rate, in the three months ended March 31, 2012.
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Investor Contact:
Michelle Spolver
Fortinet, Inc.
408-486-7837
mspolver@fortinet.com
Media Contact:
Rick Popko
Fortinet, Inc.
408-486-7853
rpopko@fortinet.com
Source: Marketwired (April 30, 2013 - 4:15 PM EDT)
News by QuoteMedia
johnsyn
12年前
Fortinet Grows to Fourth Largest Network Security Company According to Leading Market Research Firm
1:29 PM 7/25/2012 - Marketwire
SUNNYVALE, CA -- (Marketwire) -- 07/25/12 -- Fortinet® (NASDAQ: FTNT) -- a world leader in high-performance network security -- today announced that new IDC research indicates that Fortinet grew to the 4th largest vendor in 2011. According to IDC's Worldwide Network Security 2012-2016 Forecast and 2011 Vendor Shares (doc #235631, June 2012) report, Fortinet also increased its UTM-leading market share to 16.8 percent in 2011.
IDC's market forecast and share report looks at vendor performance in 2011 and uses its proprietary model to forecast market growth in UTM, firewall, VPN and intrusion detection and prevention through 2016. Data in the report shows:
Fortinet is now the 4th largest network security provider worldwide with a 5.1% market share
Fortinet's overall UTM market share grew to 16.8%
The network security market as a whole grew by 6.1% in 2011 to $7.4 billion
The UTM market segment had the highest network security submarket growth rate in 2011 at 17.4%, growing to $2.2 billion
IDC expects the UTM submarket to surpass the firewall submarket in 2012, making UTM the largest of the network security submarkets
IDC forecasts the network security market to reach $10.1 billion by 2016
"Fortinet is growing and gaining market share due to our strong technology advantage, continued innovation, and consistent security vision," said Ken Xie, founder, president and CEO of Fortinet. "Through our broad technology portfolio, we offer industry-leading performance and can address a wide variety of customer needs, whether that be for a firewall, UTM, next-generation firewall or any other combination of network and gateway security features in a single appliance."
According to IDC, the network security solutions are defined as a combination of hardware, software and networking technologies whose primary function is to protect corporate networks and network-embedded resources from disruption caused by external threats. In this market, IDC includes firewall, unified threat management, intrusion detection and prevention and virtual private network products.
Looking forward, IDC cites application awareness and control, the "bring your own device" trend and greater integration of advance malware detection as key network security market drivers. Fortinet has already developed technologies within its product line to address these trends. Fortinet also leverages its FortiGuard labs -- a forward-looking threat research organization -- to spot emerging malware and threats and to create new protections quickly against these. This intelligence, combined with technical innovation, allows Fortinet to consistently deliver products that help its customers stay ahead of the threat landscape.
Fortinet's FortiGate® appliances are consolidating security functionality across wired and wireless architectures in enterprises, managed security service providers (MSSPs) and telecommunications carriers for higher performance and a lower total cost of ownership. Custom FortiASIC-accelerated security technology greatly improves the performance of each appliance's integrated UTM features, including antivirus, firewall, VPN, intrusion prevention, as well as many other security and networking functions, such as Web filtering, anti-spam, WAN optimization and data leakage prevention (DLP). FortiGate systems help provide security protection through updates by Fortinet's FortiGuard® Network, to help guard against the most damaging threats, such as viruses, worms, advanced intrusions and other unwanted network traffic -- around the clock and around the world. FortiGate appliances are integrated with a broad security ecosystem product offering, including messaging, Web application firewall, database security, management and analysis systems and end-point security solutions. FortiGate appliances also contain a wireless controller so that wired and wireless infrastructures are simply implemented and more secure with one security platform. The entire security environment can be easily managed and reported through enterprise scale FortiManager and ForiAnalyzer for a single pane of glass policy and visualization.
Follow Fortinet Online: Subscribe to threat landscape reports: http://blog.fortinet.com/feed/; Twitter at: www.twitter.com/fortinet; Facebook at: www.facebook.com/fortinet; YouTube at: http://www.youtube.com/user/SecureNetworks.
About Fortinet(www.fortinet.com)
Fortinet (NASDAQ: FTNT) is a worldwide provider of network security appliances and the market leader in unified threat management (UTM). Our products and subscription services provide broad, integrated and high-performance protection against dynamic security threats while simplifying the IT security infrastructure. Our customers include enterprises, service providers and government entities worldwide, including the majority of the 2011 Fortune Global 100. Fortinet's flagship FortiGate product delivers ASIC-accelerated performance and integrates multiple layers of security designed to help protect against application and network threats. Fortinet's broad product line goes beyond UTM to help secure the extended enterprise -- from endpoints, to the perimeter and the core, including databases and applications. Fortinet is headquartered in Sunnyvale, Calif., with offices around the world.
Copyright © 2012 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and unregistered trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet's trademarks include, but are not limited to, the following: Fortinet, FortiGate, FortiGuard, FortiManager, FortiMail, FortiClient, FortiCare, FortiAnalyzer, FortiReporter, FortiOS, FortiASIC, FortiWiFi, FortiSwitch, FortiVoIP, FortiBIOS, FortiLog, FortiResponse, FortiCarrier, FortiScan, FortiAP, FortiDB and FortiWeb. Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties, such as IDC and other awarding third parties mentioned, and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, binding specification or other binding commitment by Fortinet, and performance and other specification information herein may be unique to certain environments. This news release may contain forward-looking statements that involve uncertainties and assumptions. Changes of circumstances, product release delays, or other risks as stated in our filings with the Securities and Exchange Commission, located at www.sec.gov, may cause results to differ materially from those expressed or implied in this press release. If the uncertainties materialize or the assumptions prove incorrect, results may differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Fortinet assumes no obligation to update any forward-looking statements and expressly disclaims any obligation to update these forward-looking statements.
FTNT-O
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Media Contacts:
Rick PopkoFortinet, Inc.
408-486-8853
rpopko@fortinet.com
Source: Fortinet
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