Fortinet profit up 30 pct, shares rise

Wed Jan 30, 2013 4:28pm EST

Jan 30 (Reuters) - Network security products maker Fortinet Inc posted a 30 percent jump in profit on higher product and services revenue.

Net income rose to $21.5 million, or 40 cents per share in the fourth quarter, from $16.5 million, or 10 cents per share, a year earlier.

Excluding items, the company earned 17 cents per share.

Revenue jumped 25 percent to $151.2 million.

Shares of the company were up 15 percent in extended trading, after closing at $19.35 on Wednesday on the Nasdaq.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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