Fortinet Sees Q1 Adj. EPS $0.50$0.52 vs $0.55 Est., Sales $555M-$565M vs $556.5M Est.; Sees FY20 Adj. EPS $2.70-$2.73 vs $2.72 Est., Sales $2.525B-$2.555B vs $2.47B Est.

For the first quarter of 2020, Fortinet currently expects: Revenue in the range of $555 million to $565 million Billings in the range of $635 million to $655 million Non-GAAP gross margin in the range of 77.5% to

Benzinga · 02/06/2020 21:10

For the first quarter of 2020, Fortinet currently expects:

  • Revenue in the range of $555 million to $565 million
  • Billings in the range of $635 million to $655 million
  • Non-GAAP gross margin in the range of 77.5% to 78.5%
  • Non-GAAP operating margin in the range of 19.0% to 20.0%
  • Diluted non-GAAP net income per share in the range of $0.50 to $0.52, assuming a non-GAAP effective tax rate of 24%. This assumes a diluted share count of 175 million to 177 million.

For the fiscal year 2020, Fortinet currently expects:

  • Revenue in the range of $2.525 billion to $2.555 billion
  • Service revenue in the range of $1.635 billion to $1.655 billion
  • Billings in the range of $3.025 billion to $3.075 billion
  • Non-GAAP gross margin in the range of 77.5% to 78.5%
  • Non-GAAP operating margin in the range of 23.5% to 24.5%
  • Diluted non-GAAP net income per share in the range of $2.70 to $2.73, assuming a non-GAAP effective tax rate of 24%. This assumes a diluted share count of 180 million to 182 million.