Avec un chiffre d’affaires de 136.3 millions de dollars pour le troisième trimestre 2012,

soit + 17% par rapport à celui de l’an dernier

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Fortinet Reports Third Quarter 2012 Financial Results

• Revenues of $136.3 million, up 17% year over year2

• Billings of $145.0 million, up 22% year over year1

• GAAP diluted net income per share of $0.10

• Non-GAAP diluted net income per share of $0.141

• Cash flow from operations of $40.8 million

• Free cash flow of $24.3 million1,3

• Cash, cash equivalents and investments of $690.3 million3, with no debt

SUNNYVALE, Calif. – October 16, 2012 – Fortinet® (NASDAQ: FTNT) – a leader in high-performance network security – today announced financial results for the third quarter ended September 30, 2012.

Financial Highlights for the Third Quarter of 2012

• Revenue2: Total revenue was $136.3 million for the third quarter of 2012, an increase of 17% compared to $116.4 million in the same quarter of 2011. Within total revenue, product revenue was $63.0 million, an increase of 19% compared to the same quarter of 2011. Services revenue was $69.8 million, an increase of 21% compared to the same quarter of 2011.

• Billings1,2: Total billings were $145.0 million for the third quarter of 2012, an increase of 22% compared to $118.4 million in the same quarter of 2011.

• Deferred Revenue: Deferred revenue was $340.1 million as of September 30, 2012, an increase of 24% compared to deferred revenue of $275.1 million as of September 30, 2011, and up $8.7 million from $331.4 million as of June 30, 2012.

• Cash and Cash Flow1,2,3: As of September 30, 2012, cash, cash equivalents and investments were $690.3 million, compared to $644.4 million as of June 30, 2012. In the third quarter of 2012, cash flow from operations was $40.8 million and free cash flow was $24.3 million.

• GAAP Operating Income1,2: GAAP operating income was $25.8 million for the third quarter of 2012, representing a GAAP operating margin of 19%. GAAP operating income was $26.2 million for the same quarter of 2011, representing a GAAP operating margin of 22%.

• GAAP Net Income and Diluted Net Income Per Share1,2: GAAP net income was $17.2 million for the third quarter of 2012, based on a 36% tax rate for the quarter. This compares to GAAP net income of $17.9 million for the same quarter of 2011, based on a 34% tax rate for the quarter. GAAP diluted net income per share was $0.10 for the third quarter of 2012, based on 166.8 million weighted-average diluted shares outstanding, compared to $0.11 for the same quarter of 2011, based on 163.9 million weighted-average diluted shares outstanding.

• Non-GAAP Operating Income1,2: Non-GAAP operating income was $34.1 million for the third quarter of 2012, representing a non-GAAP operating margin of 25%. Non-GAAP operating income was $31.4 million for the same quarter of 2011, representing a non-GAAP operating margin of 27%.

• Non-GAAP Net Income and Diluted Net Income Per Share1,2: Non-GAAP net income was $23.2 million for the third quarter of 2012, based on a 34% effective tax rate for the quarter. Non-GAAP net income for the same quarter of 2011 was $21.7 million, based on a 33% effective tax rate. Non-GAAP diluted net income per share was $0.14 for the third quarter of 2012 based on 166.8 million weighted-average diluted shares outstanding, compared to $0.13 for the same quarter of 2011, based on 163.9 million weighted-average diluted shares outstanding.

1 A reconciliation of GAAP to non-GAAP financial measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.”

2 Includes the impact of a $1.8 million sale and a $2.6 million sale of previously-acquired patents during the third quarter of 2012 and 2011, respectively.

3 Includes the impact of $14.5 million paid for the purchase of land and buildings near our Silicon Valley headquarters.

Management Commentary:

Ken Xie, founder, president and chief executive officer of Fortinet, stated: “Our third quarter performance highlights the underlying strength of our technology and market adoption of Fortinet solutions, especially among enterprises, where we are seeing strong growth. We are excited about our innovative new FortiOS 5.0 and FortiASIC SoC-2 ‘System-on-a-Chip,’ which we also announced today and which will further differentiate us in the market. We remain focused on executing our growth strategy by continuing to strengthen our research and development capabilities to continue to drive product innovation and by expanding our sales and support infrastructure.”

Ken Goldman, chief financial officer of Fortinet, stated: “We are pleased with our third quarter results, which were consistent with expectations across all of our key operating metrics. Our business remains very diverse in terms of products offered, as well as verticals and geographies served, and we are at the beginning of a very strong new product cycle.

We remain encouraged by the momentum we are seeing in the business and believe we are well positioned to maintain growth due to the combination of our technology advantage, strong cash flow generation capabilities, and over $690 million in cash on the balance sheet with no debt. We are confident as we enter the fourth quarter and remain focused on continuing to drive productivity improvements to deliver against our goals of long-term operating margin expansion.

Finally, as I will be ending my five-year tenure at Fortinet this week, I want to express my confidence in the company and its future. It has been a rewarding experience managing Fortinet from a private company, through its successful IPO, and then through twelve quarters of growth and outperformance as a public company.”

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