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Technology Stocks : Sourcefire - Symbol FIRE Nasdaq
FIRE 3.160+0.3%Sep 30 4:00 PM EDT

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From: The Ox1/31/2013 1:18:48 PM
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As we can see from the chart in the thread header, the stock is in a prolonged downtrend. Today's boost appears to be from FTNT's earnings/revenue beat.

Fortinet Reports Fourth Quarter and Full Year 2012 Financial ResultsCompany Exceeds Its Expectations Across

SUNNYVALE, CA--(Marketwire - Jan 30, 2013) - Fortinet® ( NASDAQ : FTNT )

Fourth Quarter 2012 Highlights

  • Revenues of $151.2 million, up 25% year over year2
  • Billings of $174.3 million, up 24% year over year1,2
  • GAAP diluted net income per share of $0.13
  • Non-GAAP diluted net income per share of $0.171
  • Cash flow from operations of $50.3 million
  • Free cash flow of $48.5 million1,2
  • Cash, cash equivalents and investments of $739.6 million4, with no debt
  • Full Year 2012 Highlights

  • Revenues of $533.6 million, up 23% year over year3
  • Billings of $602.0 million, up 27% year over year1,3
  • GAAP diluted net income per share of $0.40
  • Non-GAAP diluted net income per share of $0.531
  • Cash flow from operations of $183.9 million
  • Free cash flow of $161.8 million1,3,4
  • Fortinet® ( NASDAQ : FTNT ) -- a leader in high-performance network security -- today announced financial results for the fourth quarter and full year ended December 31, 2012.

    Financial Highlights for the Fourth Quarter of 2012

  • Revenue2: Total revenue was $151.2 million for the fourth quarter of 2012, an increase of 25% compared to $120.9 million in the same quarter of 2011. Within total revenue, product revenue was $71.0 million, an increase of 24% compared to the same quarter of 2011. Services revenue was $76.7 million, an increase of 26% compared to the same quarter of 2011.

  • Billings1,2: Total billings were $174.3 million for the fourth quarter of 2012, an increase of 24% compared to $140.6 million in the same quarter of 2011.

  • Deferred Revenue: Deferred revenue was $363.2 million as of December 31, 2012, up $23.1 million from $340.1 million as of September 30, 2012.

  • Cash and Cash Flow1,2: As of December 31, 2012, cash, cash equivalents and investments were $739.6 million, compared to $690.3 million as of September 30, 2012. In the fourth quarter of 2012, cash flow from operations was $50.3 million and free cash flow was $48.5 million.

  • GAAP Operating Income2,5: GAAP operating income was $35.0 million for the fourth quarter of 2012, representing a GAAP operating margin of 23%. GAAP operating income was $26.5 million for the same quarter of 2011, representing a GAAP operating margin of 22%.

  • GAAP Net Income and Diluted Net Income Per Share2,5: GAAP net income was $21.5 million for the fourth quarter of 2012, based on a 41% tax rate for the quarter. This compares to GAAP net income of $16.5 million for the same quarter of 2011, based on a 40% tax rate for the quarter. GAAP diluted net income per share was $0.13 for the fourth quarter of 2012, based on 167.0 million weighted-average diluted shares outstanding, compared to $0.10 for the same quarter of 2011, based on 164.5 million weighted-average diluted shares outstanding.

  • Non-GAAP Operating Income1,2: Non-GAAP operating income was $41.3 million for the fourth quarter of 2012, representing a non-GAAP operating margin of 27%. Non-GAAP operating income was $32.4 million for the same quarter of 2011, representing a non-GAAP operating margin of 27%.

  • Non-GAAP Net Income and Diluted Net Income Per Share1,2: Non-GAAP net income was $28.1 million for the fourth quarter of 2012, based on a 34% effective tax rate for the quarter. Non-GAAP net income for the same quarter of 2011 was $22.3 million, based on a 33% effective tax rate. Non-GAAP diluted net income per share was $0.17 for the fourth quarter of 2012 based on 167.0 million weighted-average diluted shares outstanding, compared to $0.14 for the same quarter of 2011, based on 164.5 million weighted-average diluted shares outstanding.
  • Financial Highlights for the Full Year 2012

  • Revenue3: Total revenue was $533.6 million for fiscal 2012, an increase of 23% compared to $433.6 million for fiscal 2011. Within total revenue,
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