DJ Fortinet 4Q Profit, Revenue Rise

· 02/04/2021 16:37

By Adriano Marchese

Fortinet Inc. on Thursday reported a rise in fourth-quarter profit, benefiting from higher product and service revenue in the period.

The Sunnyvale, Calif.-based cybersecurity company's earnings per share were 89 cents, up from 71.2 cents in the comparable quarter a year ago. Net income was $146.7 million, compared with $118.2 million a year ago.

Adjusted earnings were $1.06 a share, beating analyst forecasts of 97 cents a share.

Sales rose to $748 million from $618.1 million.

For the first quarter of 2021, the company anticipates revenue will be in the range of $670 million to $685 million, with adjusted EPS between 70 cents and 75 cents.

For the full year, revenue is expected to be between $3.03 billion and $3.08 billion, with adjusted EPS of $3.60 to $3.75.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

February 04, 2021 16:37 ET (21:37 GMT)