CEO: Ken Xie
Dec. 30, 2016: $30.12
Dec. 29, 2017: $43.69
Security technology vendor Fortinet had a turbulent 2016, undertaking an extensive reorganization of its U.S. enterprise sales operations. But those changes, along with an expanded security product and service portfolio and popular subscription sales model, apparently paid off in 2017.
For the first nine months of 2017, Fortinet reported revenue of $1.08 billion, up 18 percent from $912.6 million in the first nine months of 2016. Net income for the period was $60.4 million, a huge gain from the $7.0 million net income in the same nine months one year earlier.
Fortinet will report its fourth quarter and full year 2017 financial results on Feb. 5.