Boston, MA 04/25/2014 (wallstreetpr) – One of the renowned multinational companies that operate to provide high performance network security services and products, Fortinet Inc (NASDAQ:FTNT) is reaping the fruits of its multi-pronged strategy in the first quarter. It has recently announced its 1Q2014 results, which depicted a positive growth in terms of business and advancement. Its unmatched and advanced technology and quick execution of strategies has led to great impact on the market as well as profitability.
1Q2014: Strong results
Fortinet Inc (NASDAQ:FTNT) showcased a phenomenal result with its release of 1Q2014 results. It registered billings of $187.6 million, revenues of $168.9 million; GAAP diluted net income/share of $0.05, cash flow operations of $60.9 million and cash equivalents & investments of $888.3 million with no debt. Each of the sector including billings, profitability, operating and revenue, showed exceptional growth, exceeding all expectations.
Fortinet CEO and Founder Ken Xie said that the results are backed by continuous efforts and strong execution and applicability of technology that is evident from the demand of newly launched products like FortiGate-3700D and 1500D next generation appliances having high-speed and low-latency. Fortinet is committed to delivering the best and delivering security innovation across the globe.
Conference Call
Fortinet Inc (NASDAQ:FTNT) hosted a conference call on April 23, 2014 at 1:30 p.m. Pacific Time to elaborate and discuss on its recently released financial results. Further, a live webcast of the same along with supplementary slides can be easily accessed from Investors Relations page of Fortinet website.
Zero-Day Discoveries
Fortinet Inc (NASDAQ:FTNT) recently announced that the FortiGuard™ Labs, which are the global threat research arm of the company, discovered around 18 critical zero-day vulnerabilities in 2013 as compared to any other network security vendor in the industry. Zero-day vulnerabilities are potential threats that can be developed into dangerous weapons by cyber criminals. The specialized labs of Fortinet engage in identifying the targets and protecting it before it can be used in a detrimental way. Several new protective measures are installed in FortiOS for better performance.
