Fortinet’s net income grows 28 pct in fiscal 3Q

SAN FRANCISCO (AP) ? Fortinet Inc. on Monday reported a 28 percent rise in net income and a 37 percent rise in revenue in its fiscal third quarter, fueled by growth in demand for the company’s computer-security products such as firewall and antivirus devices.

Net income was $17.9 million, or 11 cents per share, versus $14.0 million, or 9 cents per share, a year ago. Excluding items, the company earned 13 cents per share, which was four cents per share higher than analysts’ average estimate for 9 cents per share, according to FactSet.

Revenue rose to $116.4 million, up from $85.0 million last year. Analysts expected $103.6 million. Fortinet’s fiscal third quarter ended Sept. 30.

The stock rose $1.93, or 10 percent, to $21.05 in extended trading, after the results were reported.