Fortinet revenue rises on higher demand for security software

Reuters News
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Posted: Jul 30, 2013 4:33 PM

(Reuters) - Fortinet Inc reported better-than-expected quarterly revenue, helped mainly by increased demand for its network security software from large U.S. enterprises.

The company, a maker of firewalls, antivirus software and tools to speed up data across networks, said second-quarter net income fell to $9 million, or 5 cents per share, from $14 million, or 8 cents per share, a year earlier.

Excluding items, it earned 10 cents per share, meeting analysts' estimates, according to Thomson Reuters I/B/E/S.

Revenue rose 14 percent to $147.4 million, above analysts' expectation of $142.7 million.

(Reporting by Supantha Mukherjee in Bangalore; Editing by Saumyadeb Chakrabarty)