Bangkok--25 Dec--Spark Communications
Demand for Fortinet’s Integrated Security Appliances Drives 3Q Growth, Market Share Gains and Workforce Expansion
Fortinet - the pioneer and leading provider of unified threat management (UTM) solutions - announced continued growth and GAAP profitability in 3Q08 in spite of the difficult global financial climate. Following its first quarter of profitability in 2Q08, Fortinet continued profitable growth into the third quarter of 2008, recording a 42 percent increase in revenues and a 27 percent increase in billings year over year. The company attributes its performance to several factors: technology focus and solid business execution, growing customer adoption of and relevance for its integrated security solutions, a diversified and global revenue base, and security’s position as an indispensable technology.
“Even in a down economy, protecting the corporate network is not a discretionary expense, but when companies are faced with budget cuts and need to do more with less, the value of an integrated security solution becomes even greater,” said Ken Xie, founder, president and CEO, Fortinet. “Beyond providing improved protection and ease of management, integrated security appliances, like Fortinet’s, offer a significant reduction in CAPEX and OPEX over multiple point products. These advantages help drive demand for our market-leading products even in challenging economic times.”
Based on the current level of demand for Fortinet’s network security appliances, the company remains optimistic about future growth, expecting to end FY08 strongly, and remains focused on continuing its growth in 2009. As a result, the company is aggressively hiring numerous key engineering and sales positions to help drive continued innovation and fulfill market opportunities.
The company has also announced that Frost & Sullivan has bestowed on the company the “2008 Global Market Leadership Award for UTM” for its growth, innovation and market strategy. The award is based on extensive research conducted by the global market research and consulting firm, which evaluated Fortinet against several UTM vendors, including Check Point, Cisco and Juniper.
This award supports data from other research firms that confirm Fortinet’s UTM market leadership, and further validates the company’s integrated network security approach as a preferred solution for enterprises and data centers worldwide. Presently, Fortinet sales account for more than 15 percent of the $1.6 billion UTM market
Terrence Brewton, research analyst for Frost & Sullivan said “Fortinet’s UTM appliances were built from the ground up, incorporate proprietary ASICs, and use a common operating system to meet the growing threat of blended based attacks head-on, while also addressing the performance and scalability needs of enterprises of all sizes. For these reasons and more, Fortinet is our top pick for this prestigious and competitive award category.”
For more information on Fortinet products, please visit: http://www.fortinet.com/products.