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Fortinet Inc.

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Network security solution provider, Fortinet, reported decent third-quarter 2015 results with the top line surpassing the Zacks Consensus Estimate but the bottom line matching the same. Product ramp ups, deal wins, continuous growth of the network security market and benefits from the ongoing investments were the positive factors in the quarter. However, due to continued uncertainty in Canada, as well as Brazil and other emerging markets, the company issued cautious fourth-quarter outlook. Margin contraction due to continuous investments to boost sales and marketing capabilities, and competition from key network security players such as Cisco, Check Point, Juniper Networks and Palo Alto Networks remain the concerns.


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