Shares of Fortinet Inc. (NASDAQ: FTNT), a provider of network security solutions, are soaring in trading today. At last check, FTNT shares were trading 20.83% higher at $23.38 on volume of 986,307. The stock rose to an intra-day high of $23.48 in trading earlier today.
FTNT shares are soaring after the company reported its fourth-quarter financial results. For the fourth quarter ended December 31, 2012, the Sunnyvale, California-based company reported total revenue of $151.2 million, representing an increase of 25% over the same period in the previous year. Total billings for the quarter were $174.3 million, representing an increase of 24% over the same period in the previous year.
GAAP operating income for the quarter was $35 million, compared to $26.5 million reported for the same period in the previous year. GAAP net income for the quarter came in at $21.5 million, compared to $16.5 million reported for the same period in the previous year.
Shares of JDS Uniphase Corp. (NASDAQ: JDSU), a provider of communications test and measurement solutions and optical products for telecommunications service providers, wireless operators, cable operators and network equipment manufacturers, are seeing a huge rally in trading today after the company swung to a profit in its second quarter.
For the second quarter ended December 29, 2012, the Milpitas, California-based company reported a profit of $4.1 million, or $0.02 per share, compared to a loss of $10.2 million, or $0.04 per share reported for the same period in the previous year. Excluding one-time items, the company reported earnings of $0.18 per share, compared to $0.16 per share reported for the same period in the previous year. Analysts were expecting JDSU to report adjusted earnings of $0.14 per share.
Revenue for the quarter stood at $429.4 million, up 4.9% on a year-over-year basis. Gross margin improved 140 basis points to 44%.
Tom Waechter, President and CEO of JDS Uniphase, said that the company delivered a strong fiscal second-quarter, with revenue at the top of its guidance range and operating margins exceeding expectations across all three business segments.
JDSU shares rose to an intra-day high of $15.14 earlier today. At last check, the stock was trading 20.32% higher at $14.92 on above average volume of 6.24 million.
Shares of Fusion-IO Inc. (NYSE:FIO), a provider of datacenter solutions that accelerate databases, virtualization, cloud computing, big data, and the applications that help drive business from the smallest e-tailers to some of the largest data centers, social media leaders and Fortune Global 500 businesses, are sinking in trading today after the company reported its second-quarter financial results.
For the quarter ended December 31, 2012, the company reported revenue of $120.6 million, representing an increase of 43% over the same period in the previous year. Net income for the quarter was $1.7 million, or $0.02 per share, compared to a net loss of $5.7 million reported for the same period in the previous year. On a non-GAAP basis, the company reported net income of $13.7 million, or $0.13 per share, compared to $5.6 million, or $0.05 per share reported for the same period in the previous year.
FIO shares fell to a 52-week low of $16.50 earlier today before paring some of the losses. At last check, the stock was down 15.88% to $16.90 on above average volume of 4.80 million.
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