FORTINET, INC. FTNT Income Statement

Fortinet, inc. (FTNT)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Ratable and other revenue
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,459	1,858	1,905	2,322	5,498	3,665	4,415	4,531	4,330
Total revenue
576,900	614,400	547,500	521,700	472,600	507,000	453,900	441,300	399,000	416,600	374,200	363,500	340,600	362,787	316,646	311,391	284,576	296,529	260,068	239,785	212,886	223,969	193,348	184,098	168,949	177,350	154,699	147,428	135,820	151,162	136,268	128,962	117,247	120,861	116,426	103,023	93,266	84,971	76,331
COST OF REVENUE:
Ratable and other revenue
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	647	725	763	885	1,095	1,371	1,560	1,615	1,525
Total cost of revenue
128,700	140,500	124,100	128,300	113,000	128,500	111,600	113,100	97,200	105,400	93,600	95,700	90,600	90,854	84,799	84,503	77,644	81,976	71,701	69,498	63,602	65,624	56,885	57,757	50,743	53,877	43,930	43,708	39,128	41,442	37,808	37,127	31,043	32,485	31,139	26,558	23,416	21,443	20,165
GROSS PROFIT:
Ratable and other revenue
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,812	1,133	1,142	1,437	4,403	2,294	2,855	2,916	2,805
Total gross profit
448,200	473,900	423,400	393,400	359,600	378,500	342,300	328,200	301,800	311,200	280,600	267,800	250,000	271,933	231,847	226,888	206,932	214,553	188,367	170,287	149,284	158,345	136,463	126,341	118,206	123,473	110,769	103,720	96,692	109,720	98,460	91,835	86,204	88,376	85,287	76,465	69,850	63,528	56,166
OPERATING EXPENSES:
Research and development
80,300	71,200	69,900	67,400	68,600	65,500	58,700	61,200	59,100	54,700	53,500	51,200	51,200	45,605	47,239	45,502	44,754	42,814	42,110	37,389	35,816	33,097	30,790	29,938	29,055	27,747	26,421	25,158	23,334	20,525	20,498	20,388	19,667	16,380	16,834	15,942	14,421	12,389	12,676
Sales and marketing
260,000	257,100	227,400	226,500	215,900	205,900	198,300	192,800	185,300	191,900	172,400	166,300	170,400	162,872	154,831	162,694	146,103	136,840	120,994	111,928	100,609	93,228	80,433	74,817	67,326	62,331	56,687	55,997	49,976	48,117	44,743	44,259	42,036	39,984	36,934	35,896	32,718	26,987	27,777
General and administrative
28,800	27,200	26,100	24,300	24,500	22,000	22,500	23,500	25,000	22,400	21,000	21,900	22,600	17,471	22,006	22,184	19,439	20,315	21,220	18,018	11,961	12,104	9,789	10,444	9,010	8,752	9,382	8,788	7,991	6,038	7,449	6,238	5,786	5,492	5,359	5,848	5,266	5,993	5,933
Gain on intellectual property matter
36,800	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Restructuring charges
-	-	-	-	-	-	-	-	-	0	0	-100	400	836	2,283	553	328	1,717	5,883	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total operating expenses
332,300	355,500	323,400	318,200	309,000	293,400	279,500	277,500	269,400	269,000	246,900	239,300	244,600	226,784	226,359	230,933	210,624	201,686	190,207	167,335	148,386	138,429	121,012	115,199	105,391	98,830	92,490	89,943	81,301	74,680	72,690	70,885	67,489	61,856	59,127	57,686	52,405	45,369	46,386
OPERATING INCOME
115,900	118,400	100,000	75,200	50,600	85,100	62,800	50,700	32,400	42,200	33,700	28,500	5,400	45,149	5,488	-4,045	-3,692	12,867	-1,840	2,952	898	19,916	15,451	11,142	12,815	24,643	18,279	13,777	15,391	35,040	25,770	20,950	18,715	26,520	26,160	18,779	17,445	18,159	9,780
INTEREST INCOME—NET
9,200	9,900	11,400	11,000	10,200	9,300	6,900	5,800	4,500	4,000	3,900	3,200	2,400	1,961	1,888	1,705	1,746	1,176	1,333	1,364	1,422	1,402	1,339	1,319	1,333	1,318	1,282	1,337	1,369	1,400	1,318	1,203	1,085	963	904	863	793	514	399
OTHER EXPENSE—NET
-8,000	-600	-6,000	-400	-500	-2,300	900	-5,000	-200	-1,200	400	1,200	300	-3,651	-787	-1,350	-1,312	-1,007	-653	-830	-677	-1,200	-1,005	-574	-389	-419	-1,151	-100	215	-170	-317	73	-71	-112	60	-207	-95	-402	87
INCOME BEFORE INCOME TAXES
117,100	127,700	105,400	85,800	60,300	92,100	70,600	51,500	36,700	45,000	38,000	32,900	8,100	43,459	6,589	-3,690	-3,258	13,036	-1,160	3,486	1,643	20,118	15,785	11,887	13,759	25,542	18,410	15,014	16,975	36,270	26,771	22,226	19,729	27,371	27,124	19,435	18,143	18,271	10,266
PROVISION FOR INCOME TAXES
13,100	12,500	25,600	13,100	1,500	-90,500	11,900	2,200	-4,900	74,000	11,300	9,900	-2,600	18,280	298	-2,302	-5,376	15,570	-9,329	2,694	83	13,305	11,729	5,806	5,366	13,526	7,381	6,035	4,726	14,763	9,565	8,276	5,556	10,877	9,207	4,941	4,556	4,254	3,397
NET INCOME
104,000	115,200	79,800	72,700	58,800	182,600	58,700	49,300	41,600	-29,000	26,700	23,000	10,700	25,179	6,291	-1,388	2,118	-2,534	8,169	792	1,560	6,813	4,056	6,081	8,393	12,016	11,029	8,979	12,249	21,507	17,206	13,950	14,173	16,494	17,917	14,494	13,587	14,017	6,869
Net income per share (Note 8):
Basic (in dollars per share)
0.61	0.67	0.47	0.42	0.35	1.07	0.35	0.29	0.25	-0.16	0.15	0.13	0.06	0.15	0.04	-0.01	0.01	-0.01	0.05	0.00	0.01	0.04	0.02	0.04	0.05	0.06	0.07	0.06	0.08	0.13	0.11	0.09	0.09	0.10	0.12	0.10	0.09	0.10	0.05
Diluted (in dollars per share)
0.60	0.65	0.46	0.42	0.34	1.06	0.33	0.28	0.24	-0.16	0.15	0.13	0.06	0.14	0.04	-0.01	0.01	-0.01	0.05	0.00	0.01	0.04	0.02	0.04	0.05	0.07	0.07	0.05	0.07	0.13	0.10	0.08	0.09	0.10	0.11	0.09	0.08	0.09	0.05
Weighted-average shares outstanding:
Basic (in shares)
170,600	171,400	171,300	171,100	170,200	170,300	169,800	168,600	167,700	171,500	175,500	175,700	174,500	173,245	173,335	172,075	171,745	171,885	171,648	169,930	168,077	165,478	164,294	163,161	162,391	163,305	162,906	162,247	161,282	160,061	158,751	157,474	156,010	154,484	153,265	152,267	150,308	143,672	136,990
Diluted (in shares)
174,200	175,300	174,800	175,100	174,800	175,800	175,700	173,500	171,800	175,400	179,000	179,700	178,300	180,766	177,938	172,075	174,421	176,713	177,897	176,234	173,720	170,970	169,727	168,345	168,114	168,201	168,666	168,042	167,823	166,713	166,791	166,061	165,751	164,504	163,869	163,887	162,864	155,842	151,274
Product [Member]
Total revenue
192,300	238,800	197,100	189,900	162,700	200,800	164,500	166,300	142,800	162,100	137,100	142,700	135,300	158,915	127,972	136,641	124,572	144,759	119,737	114,777	97,509	110,678	87,731	85,384	76,765	83,884	69,687	66,525	57,950	71,025	63,027	61,692	53,204	57,463	53,093	46,687	40,165	35,913	31,037
Total cost of revenue
76,300	92,700	79,000	82,700	70,200	86,900	72,000	73,900	58,200	69,600	58,100	60,800	55,300	56,632	50,267	52,788	49,313	55,466	46,167	47,397	41,368	46,070	35,636	37,455	32,139	37,579	27,126	26,948	22,958	26,974	23,995	23,935	19,067	21,929	20,606	16,591	14,075	13,263	11,822
Total gross profit
116,000	146,100	118,100	107,200	92,500	113,900	92,500	92,400	84,600	92,500	79,000	81,900	80,000	102,283	77,705	83,853	75,259	89,293	73,570	67,380	56,141	64,608	52,095	47,929	44,626	46,305	42,561	39,577	34,992	44,051	39,032	37,757	34,137	35,534	32,487	30,096	26,090	22,650	19,215
Service [Member]
Total revenue
384,600	375,600	350,400	331,800	309,900	306,200	289,400	275,000	256,200	254,500	237,100	220,800	205,300	203,872	188,674	174,750	160,004	151,770	140,331	125,008	115,377	113,291	105,617	98,714	92,184	93,466	85,012	80,903	77,870	87,359	69,782	65,412	62,138	61,076	57,835	52,671	48,686	44,527	40,964
Total cost of revenue
52,400	47,800	45,100	45,600	42,800	41,600	39,600	39,200	39,000	35,800	35,500	34,900	35,300	34,222	34,532	31,715	28,331	26,510	25,534	22,101	22,234	19,554	21,249	20,302	18,604	16,298	16,804	16,760	16,170	16,603	13,166	12,467	11,213	9,671	9,438	8,596	7,781	6,565	6,818
Total gross profit
332,200	327,800	305,300	286,200	267,100	264,600	249,800	235,800	217,200	218,700	201,600	185,900	170,000	169,650	154,142	143,035	131,673	125,260	114,797	102,907	93,143	93,737	84,368	78,412	73,580	77,168	68,208	64,143	61,700	70,756	56,616	52,945	50,925	51,405	48,397	44,075	40,905	37,962	34,146