Fortinet's quarterly profit slips, shares fall

Tue Oct 16, 2012 4:27pm EDT

Oct 16 (Reuters) - Fortinet Inc's third-quarter profit slipped 4 percent, as operating expenses at the network security products maker jumped 23 percent.

Third-quarter net profit fell to $17.2 million, or 10 cents per share, from $17.9 million, or 11 cents per share, a year earlier.

Shares of the company, which closed at $24.80 on Tuesday on the Nasdaq, fell 10 percent to $22.32 after hours.

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