Fortinet Q3 Profit Down On Expenses - Quick Facts

(RTTNews) - Fortinet (FTNT) reported third-quarter net income of $11.0 million or $0.07 per share, compared to $17.2 million or $0.10 per share, last year. Adjusted net income was $20.2 million or $0.12 per share for the third quarter of 2013.

On average, 26 analysts polled by Thomson Reuters expected the company to report profit per share of $0.11 for the quarter. Analysts' estimates typically exclude special items.

Total revenue was $154.7 million, an increase of 14% from $136.3 million, prior year. Within total revenue, product revenue was $69.7 million, an increase of 11% compared to the same quarter of 2012. Services revenue was $83.9 million, an increase of 20% compared to the same quarter of 2012. Analysts expected revenue of $151.06 million for the quarter.

Total operating expenses were $92.49 million, compared to $72.69 million, prior year.