Fortinet (FTNT) Tops Q3 EPS by 1c

Fortinet (NASDAQ: FTNT) reported Q3 EPS of $0.12, $0.01 better than the analyst estimate of $0.11. Revenue for the quarter came in at $193.3 million versus the consensus estimate of $184.9 million.

Other highlights:

• Billings of $213.2 million, up 29% year over year
• Free cash flow of $50.7 million(1)
• Cash, cash equivalents and investments of $963.8 million(2), with no debt
• Deferred revenue of $500.0 million, up 25% year over year

"We are pleased to report another strong quarter that exceeded expectations, as we continued to execute well against our growth strategy and benefit from security market demand and customer adoption of new Fortinet products," said Ken Xie, founder, chairman and chief executive officer. "Our investments in sales and marketing have continued to pay off evidenced by another quarter of traction in both new customer wins, as well as expansion within our existing large and growing global customer base. We currently believe that Fortinet remains well positioned for the remainder of the year and into 2015."

For earnings history and earnings-related data on Fortinet (FTNT) click here.

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