Volatile stock to watch: Fortinet Inc (NASDAQ: FTNT)

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Fortinet Inc (NASDAQ: FTNT) stock lost over 0.3% in the pre market session on 7th Feb, 2020 (Source: Google finance) post the fourth quarter of FY 19.

The company has reported the Non-GAAP net income of $132.4 million for the fourth quarter of 2019, compared to non-GAAP net income of $104.6 million for the same quarter of 2018. In the fourth quarter of 2019, the company has generated the cash flow from operations of $190.4 million compared to $180.2 million in the same quarter of 2018.

FTNT in the fourth quarter of FY 19 has reported the adjusted earnings per share of 76 cents, while adjusted revenue growth of 21 percent to $614.4 million in the fourth quarter of FY 19. Fortinet’s product revenue for the quarter came to $238.8 million, which is up 19% from the same period a year before. Service revenue was up 23% to $375.6 million. Meanwhile, billings grew 24% to $802.3 million, up 24%.

For the first quarter ending in April 2020, Fortinet expects its per-share earnings to range from 50 cents to 52 cents. The company expects revenue to be in the range of $555 million to $565 million for the fiscal first quarter, while the analysts surveyed by Zacks had expected revenue of $553 million. For the first quarter of 2020, Billings is expected to be in the range of $635 million to $655 million, Non-GAAP gross margin is expected to be in the range of 77.5% to 78.5% and Non-GAAP operating margin is expected to be in the range of 19.0% to 20.0%.

Fortinet expects full-year earnings to be in the range of $2.70 to $2.73 per share, with revenue expected to range from $2.53 billion to $2.56 billion. For the fiscal year 2020, the company expects service revenue to be in the range of $1.635 billion to $1.655 billion, Billings is expected to be in the range of $3.025 billion to $3.075 billion, Non-GAAP gross margin is expected to be in the range of 77.5% to 78.5% and Non-GAAP operating margin is expected to be in the range of 23.5% to 24.5%

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