Fortinet Reports Second Quarter 2016 Financial Results

Revenue and billings outperformance highlights Fortinet’s best-in-class Security Fabric

• Revenue of $311.4 million, up 30% year over year

• Billings of $373.8 million, up 26% year over year1

• GAAP diluted net loss per share $0.01
• Non-GAAP diluted net income per share of $0.141
• Cash flow from operations of $67.9 million

• Free cash flow of $53.5 million1

• Cash, cash equivalents and investments of $1.22 billion
• Deferred revenue of $904.0 million, up 37% year over year

Dubai, UAE. - July 31, 2016 - Fortinet® (NASDAQ: FTNT), a global leader in high performance cyber security solutions, today announced financial results for the second quarter ended June 30, 2016.

“We are pleased with our billings and revenue over performance and ability to meet our expense and profitability targets while still investing for growth,” said Ken Xie, founder, chairman and chief executive officer. “The threat landscape and network architectures are evolving and shifting to integrated end-to-end platforms, which is the vision Fortinet was founded upon.  Our strong innovation and ability to provide a seamless, tightly-integrated and intelligent Security Fabric that protects all points in the network - from IoT to cloud - positions us well for continued growth and share gains in 2016 and beyond.”

Financial Highlights for the Second Quarter of 2016

• Revenue: Total revenue was $311.4 million for the second quarter of 2016, an increase of 30% compared to $239.8 million in the same quarter of 2015. Within total revenue, product revenue was $136.6 million, an increase of 19% compared to $114.8 million in the same quarter of 2015. Service revenue was $174.8 million, an increase of 40% compared to $125.0 million in the same quarter of 2015.

• Billings1: Total billings were $373.8 million for the second quarter of 2016, an increase of 26% compared to $297.2 million in the same quarter of 2015.

• Deferred Revenue: Total deferred revenue was $904.0 million as of June 30, 2016, an increase of $66.8 million compared to $837.2 million as of March 31, 2016.

• Cash and Cash Flow: As of June 30, 2016, cash, cash equivalents and investments were $1.22 billion, compared to $1.19 billion as of March 31, 2016. In the second quarter of 2016, cash flow from operations was $67.9 million compared to $84.3 million in the same quarter of 2015. Free cash flow1 was $53.5 million during the second quarter of 2016 compared to $73.5 million in the same quarter of 2015.

• GAAP Operating Income or Loss: GAAP operating loss was $4.0 million for the second quarter of 2016, representing a GAAP operating margin of -1%. GAAP operating income was $3.0 million for the same quarter of 2015, representing a GAAP operating margin of 1%.  

• Non-GAAP Operating Income1: Non-GAAP operating income was $36.0 million for the second quarter of 2016, representing a non-GAAP operating margin of 12%. Non-GAAP operating income was $29.3 million for the same quarter of 2015, representing a non-GAAP operating margin of 12%.  

• GAAP Net Income or Loss and Diluted Net Income or Loss Per Share: GAAP net loss was $1.4 million for the second quarter of 2016, compared to GAAP net income of $0.8 million for the same quarter of 2015. GAAP diluted net loss per share was $0.01 for the second quarter of 2016. GAAP diluted net income per share was break-even for the second quarter of 2015.

• Non-GAAP Net Income and Diluted Net Income Per Share1: Non-GAAP net income was $24.0 million for the second quarter of 2016, compared to non-GAAP net income of $19.4 million for the same quarter of 2015.  Non-GAAP diluted net income per share was $0.14 for the second quarter of 2016, compared to $0.11 for the same quarter of 2015.

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.”

Conference Call Details

Fortinet will host a conference call today, July 28, 2016, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) to discuss its financial results. To access this call, dial (877) 303-6913 (domestic) or (224) 357-2188 (international) with conference ID # 25654626. A live webcast of the conference call and supplemental slides will be accessible from the Investor Relations page of Fortinet's website at http://investor.fortinet.com and a replay will be archived and accessible at http://investor.fortinet.com/events.cfm.  A replay of this conference call can also be accessed through August 4, 2016, by dialing (855) 859-2056 (domestic) or (404) 537-3406 (international) with conference ID# 25654626.

Following Fortinet's financial results conference call, the Company will host an additional question-and-answer session at 3:30 p.m. Pacific Time (6:30 p.m. Eastern Time) to provide an opportunity for financial analysts and investors to ask more detailed questions. To access this call, dial (877) 303-6913 (domestic) or (224) 357-2188 (international) with conference ID # 25664452. This follow-up call will be webcast live and accessible at http://investor.fortinet.com, and a replay will be archived and available after the call at http://investor.fortinet.com/events.cfm. A replay of this conference call will also be available through August 4, 2016 by dialing (855) 859-2056 (domestic) or (404) 537-3406 (international) with conference ID # 25664452.

Watermark makes its mark at the Summit International Awards 2016

Creatives for Microsoft and Fujitsu gains appreciation at the awards

United Arab Emirates-(ME NewsWire)- The jury of the Summit Creative Award 2016 have spoken. Dubai-based Advertising and Integrated Marketing Boutique Agency Watermark walks away with three Silvers and one bronze Summit Creative Awards for their innovative creatives. The leading agency won the silver award in the Sales/Press Kit and Industry Self- Promotion collaterals categories, while they bagged a silver and bronze award in the B2B Direct Mail category.

“It is indeed a proud moment for us to see our work being recognized at an international level and across various categories. Our focus has always been to deliver creatives that inspire an emotion or connect for the client with its audience. This was the first time we nominated ourselves for their excellence recognizing platform, out of the six entries submitted four were selected which is a humungous morale booster for the team.” Says Aman Roy, General Manager, Watermark Marketing Management.

Watermark won the silver and bronze for their creatives designed for Microsoft in the B2B Direct Mail Category. The Office 365 Breakfast mailer picked up the silver while Microsoft’s Clean Dealer mailer picked up the bronze award.

Reem Al Ansari - OEM Marketing & Business Manager, Microsoft Gulf says, “It is terrific to see Watermark receiving this well-deserved recognition. One of the awards granted is related to the Microsoft Clean Dealers’ Campaign, which we worked closely with Watermark since the early stage of the conceptualization till the end where it came to life. Actually, this isn’t the first time we put our trust in Watermark. We have been working with them for years and it has always been a worthwhile partnership.”

Fujitsu’s Star Tech creatives bagged the silver award in the Sales/Press Kit category. At this appreciation by this prestigious event, Chandan Mehta, Director Marketing – Middle East, Africa and India says, “It is heartening to see that a creative done for Fujitsu won a Silver. We have worked closely with Watermark since their inception and have always had confidence in their ability to deliver. This award only strengthens this belief and further cements our long association.”

Other awards bagged by Watermark Marketing Management’ includes the “Nail it Right” Bag won the silver in the Industry Self-Promotion Collaterals Category.

“These award is dedicated to our clients for having the confidence in us and for trusting us with their assignments”, says Aman Roy.

The 2016 creative competition drew over 5,000 submissions from 21 countries. The submissions are evaluated based on the strength of their big ideas, quality of execution and their ability to persuade. Judging is done by a panel of vetted advertising professionals who critique entries in the 20 major categories.

The Summit Creative Awards is one of the three competitive awards held annually by the Summit International Awards (SIA) organization putting a spotlight on work created by small and mid-size marketing firms around the globe.

About Watermark Marketing Management

Established in 2010, Watermark is a full service boutique agency offering advertising and integrated marketing solutions. At Watermark - customer service is not a department, but an attitude.

The top management comes with a collective experience of over 50 years in various multi national and local agencies spanning across different markets. Coupled with the enthusiasm of a young and raring team, clients are always assured of a committed, result oriented and swift service.

With Big agency ideas and a small agency advantages, Watermark prides itself as being an ideal marketing partner for its clients.

ووترمارك تضع بصمتها في سوميت إنترناشيونال أواردز Summit International Awards 2016

كريتيفز لمايكروسوفت وفوجيتسو تحصل على التقدير من خلال الجوائز

الإمارات العربية المتحدة-( "إم إي نيوز واير")- لجنة قمة الجوائز الإبداعية 2016 (Summit Creative Award 2016) تفصح عن رأيها. نجحت وكالة ووتر ماركت أدفيرتايزنك آند إنتيجرتيد ماركتنج بوتيك في اقتناص ثلاثة جوائز فضية وواحدة برونزية في قمة الجوائز الإبداعية عن إبداعاتها الابتكارية. حيث حصلت الوكالة الرائدة على الجائزة الفضية في فئة المبيعات/الصحافة وفئات ضمانات الترويج الذاتي للصناعة، بينما حصلت على الجائزة الفضية والبرونزية في فئة البريد المباشر بين الشركات B2B Direct Mail.

يذكر آمان روي، المدير العام في ووتر مارك ماركيتنج مانيجينت: "إنها لحظة مليئة بالفخر بالنسبة لنا أن نرى عملنا وقد حاز التقدير على مستوى دولي وفي فئات متعددة. فنحن نركز دائماً على تقديم الحلول الإبداعية التي تلهم المشاعر أو تربط العميل بجمهوره. هذه المرة الأولى التي نرشح أنفسنا للوقوف على منصة التميز من بين ستة مرشحين تقدموا للجائزة، حيث تم اختيار أربعة من بينهم، وهو ما يعتبر دافع معنوي كبير للفريق.

حصلت ووترمارك على الجائزة الفضية والإبداعية عن الحلول الإبداعية المصممة لمايكروسوفت في فئة البريد المباشر بين الشركات B2B Direct Mail. بينما حصل حلّ البريد Office 365 Breakfast على الجائزة الفضية وحل Microsoft Clean Dealer للبريد على الجائزة البرونزية.

بحسب ريم الأنصاري – مدير التسويق والأعمال لمصنعي المعدات الأصلية OEM، مايكرسوفوت الخليج: "إنه أمر رائع أن نرى ووترمارك وقد حصلت على التقدير الذي تستحقه. واحدة من الجوائز الممنوحة تتعلق بحملة مايكروسوفت كلين ديلر Microsoft Clean Dealer، التي عملنا عليها عن قريب مع ووتر منذ المراحل المبكرة لوضع المفاهيم وحتى ظهرت إلى النور. في الحقيقة لم تكن هذه هي المرة الأولى التي نضع فيها ثقتنا في ووترمارك. فنحن نعمل مع الفريق منذ سنوات وطالما كانت علاقة جديرة بالثقة.

حصلت الحلول الإبداعية فوجيتسو ستار تيك Fujistu Star Tech على الجائزة الفضية في فئة المبيعات/الصحافة. وتعليقاً على هذا التقدير ضمن هذا الحدث العام، أضاف تشاندان ميهتا، مدير التسويق – الشرق الأوسط وأفريقيا والهند قائلا: "لقد أسعدنا أن نرى هذا الحل الإبداعي الذي تم لحساب فوتيجتوس وقد حصل على جائزة فضية. لقد عملنا عن قرب مع ووترمارك منذ بدايتها وطالما أولينا ثقتنا في قدرتها على الإنجاز. هذه الجائزة ليست إلا تعزيزا لهذا الإيمان وتأكيدا على ارتباطنا الطويل".

تشمل الجوائز الأخرى التي حصلت عليها ووترمارك ماركتنج مانيجمينت على حصول حل إتمامه بالشكل الصحيح "Nail it Right" على الجائزة الفضية في فئة ضمانات الترويج الذاتي للصناعة.

يذكر آمان روي: "هذه الجائزة مهداة لعملائنا لثقتهم فينا ولإيمانه بقدرنا على الإنجاز".

شهدت المنافسة الإبداعية 2016 ما يزيد عن 5000 عملية تقديم من 21 دولة. تم تقييم عمليات التقديم هذه بناء على قوة أفكارها الكبيرة، وجودة تنفيذها وقدرتها على الإقناع. تم التحكيم من قبل لجنة من محترفي صناعة الدعاية المشهود لهم بالكفاءة حيث قاموا بالتدقيق في الإدخالات في العشرين فئة الرئيسية.

قمة الجوائز الإبداعية Summit Creative Awards هي واحدة من ثلاث جوائز تنافسية تنعقد دولية من جانب منظمة سوميت إنترناشيونال أوردز (Summit International Awards) التي تلقى الضوء على الأعمال التي أبدعتها شركات التسويق الصغيرة ومتوسطة الحجم حول العالم.

PAYFORT’s platform achieves Payment Card Industry Security Standards Certification for consecutive third year; renews commitment to e-payment security and consumer data protection

- PAYFORT, the leading online payment service provider in the Arab world, has been certified as PCI DSS 3.1 compliant by PCI Qualified Security Assessor NCC Group (previously RandomStorm Ltd.) on behalf of the Payment Card Industry Security Standards Council. The Payment Card Industry Data Security Standard (PCI DSS) is a set of the most advanced security standards developed to ensure secure online transactions and protect cardholder data.

PAYFORT delivers a secure payment platform that enables online processing of credit and debit cards as well as direct bank transfers. The platform was previously certified for PCI DDS version 2.0 in 2014 and then again for version 3.0 in 2015.

“We are proud to announce that PAYFORT has achieved the Payment Card Industry Council’s Data Security Standard for the third year in a row, helping to secure online payments globally,” said Maha Abu Touq, IT Director of PAYFORT. “PAYFORT’s effort to protect customer data and deliver the highest standard of security for our payment services is continuous and the new PCI DSS certification confirms that we’re meeting the most advanced standards set for the industry.”

The PCI Data Security Standard has been developed to prevent payment card fraud by providing global security guidelines for companies that process, store, or transmit customers’ payment card details. The standards certification is renewed each year to take into account the latest security measures and technology.

“PAYFORT hired ScanWave CTS, the advanced security solutions leader in MENA and the GCC, which offered a comprehensive range of advanced cyber security solutions and services,” said Dr. Ramzi Al Sunna, CEO of ScanWave CTS. “The certification reaffirms PAYFORT’s unwavering commitment to delivering secure payment services to customers in MENA, and emphasises its ongoing efforts to protect cardholder data environments and offer secure online payment services.”

For the final auditing services, Global PCI Qualified Security Assessor NCC Group granted PAYFORT PCI DSS 3.1 accreditation in recognition of its strict adherence to guidelines that safeguard consumers’ credit and debit card transactions, supported by the enhanced reliability and security measures added to PAYFORT’s e-payment services.

PAYFORT has longstanding relationships with leading banks and financial institutions across the region and supports credit/debit card payment, through globally recognised payment leaders such as MasterCard, Visa and American Express. It supports also local payment services, such as e-Dirham, Fawry, NAPS (Direct Debit Qatar) and SADAD Merchants can also integrate third party services with their payment stack.

“PAYFORT provides merchants across the Arab world with innovative e-payment solutions certified to the latest PCI DSS standards, allowing them to offer customers safe, secure online payment options,” said Omar Soudodi, Managing Director of PAYFORT. “Simply put, PAYFORT continually invests in addressing the latest security challenges and implementing the most sophisticated and up-to-date security, fraud prevention and anti-money laundering technologies so that our customers don’t have to.”

PAYFORT is the payment platform for hundreds of the leading ecommerce websites across the region — such as Souq.com, Dubizzle.com, Landmark, Jumbo Electronics, flynas, Air Arabia, Flyin, Musafir and bayte.

According to the PAYFORT State of Payments 2016 report, the value of online transactions in the Arab world could grow nearly 300 percent by 2020, potentially reaching more than US$69 billion transactions per year.

Huawei joins Smart Africa to drive Africa's digital transformation

Cairo, Egypt. July 24th 2016. Huawei announced today it has joined the Smart Africa Alliance as Information and Communications Technologies (ICT) advisor and Platinum member at the Smart Africa Board Meeting. The partnership with the Smart Africa Alliance is one of Huawei’s efforts to drive digital transformation in Africa.

Smart Africa is a bold and innovative commitment from African Heads of State and Government to accelerate sustainable socio-economic development on the continent, ushering Africa into a knowledge economy through affordable access to Broadband and usage of Information and Communications Technologies. H.E. Paul Kagame, the President of Rwanda, has revealed the Smart Africa Manifesto, the foundation of this initiative, is based on 5 principles: To put ICT at the center of our national socio-economic development agenda; To improve access to ICT especially Broadband; To improve accountability, efficiency and openness through ICT; To put the Private Sector First; To leverage ICT to promote sustainable development.

Dr. Hamadoun Touré, Executive Director of Smart Africa Secretariat extended a warm welcome to Huawei: “One of the key objectives of the Smart Africa initiative is to strengthen the Public-Private collaboration to accelerate the ICT development in Africa. As a global leading ICT solutions provider, Huawei has been continuously making significant contributions to provide telecom connectivity, especially broadband connections to Africa, giving African people access to affordable broadband network. We are more than happy that Huawei has joined us to partner with African governments, ITU, GSMA, the World Bank, and all the other Smart Africa members, to transform Africa through ICTs. We believe Huawei’s expertise and experience will promote African countries’ digital economy and improve their global competitiveness.”

Jimmy Pang, Huawei Vice President，discussed the Smart Africa’s vision at the Board Meeting with ICT ministers from various African countries, and said: “The key to accelerate Africa’s digital economy is to improve ICT infrastructure, upgrade the digitalization of every industry, and promote the knowledge-sharing and skill transfer. We will continuously support the Smart Africa initiative, in collaboration with all related stakeholders to increase the connectivity of Africa, and build a smart Africa together. ”

Today in the afternoon, Huawei joined the Board Meeting of Smart Africa, and shared its insights on how to leverage ICT to develop Africa’s social-economy with board members of Smart Africa, head of states from African countries, including the host of the 27th African Union Summit, H.E. Paul Kagame, the President of Rwanda, who is also the chairman of the Smart Africa Board.

Huawei entered Africa in 1998, and has been improving connectivity in over 50 African countries through providing advanced telecom network services and affordable smart devices. Huawei will assist Smart Africa to deploy its flagship projects, and push Africa’s digital economy through experience-sharing and ICT talents cultivation.

هواوي تنضم الي التحالف الإفريقي لتكنولوجيا المعلومات والأتصالات لدفع التحول الرقمي في أفريقيا

القاهرة، مصر. 24 يوليو 2016. أعلنت شركة هواوي إنضمامها الى التحالف الإفريقي كمستشار لتكنولوجيا المعلومات والأتصالات وكعضو بلاتيني في مجلس إدارة التحالف، وتعتبر هذه الشراكة تتويج لجهود هواوي لدفع عجلة التحول الرقمي في أفريقيا.

يمثل التحالف الإفريقي لتكنولوجيا المعلومات والأتصالات إنعكاساً لألتزام رؤساء وحكومات الدول الأفريقية لدفع عجلة التنمية الأقتصادية والأجتماعية المستدامة في القارة لقيادة أفريقيا لأقتصاد واعي من خلال تيسير الحصول على خدمات شبكات المعلومات والأتصالات. وأعلن فخامة رئيس رواندا السيد/ بول كاغامي عن  مبادىء التحالف الذي يستند على 5 محاور رئيسية: وضع تكنولوجيا المعلومات والأتصالات على قائمة أولويات أجندة الدول الأفريقية الوطنية للتنمية الأجتماعية والأقتصادية، تحسين قنوات الوصول إلى تكنولوجيا المعلومات والأتصالات وخاصة خدمات النطاق العريض، تحسين الكفاءة والشفافية من خلال تكنولوجيا المعلومات والأتصالات، الأهتمام بتحسين القطاع الخاص، و أخيراً الأستفادة من تكنولوجيا المعلومات والأتصالات لتعزيز التنمية المستدامة.

ومن جانبه رحب الدكتور/ حمدون توريه - المدير التنفيذي للتحالف الإفريقي لتكنولوجيا المعلومات والأتصالات بمشاركة هواوي وصرح "إن أحد أهم الأهداف الرئيسية للتحالف هو تعزيز التعاون بين القطاعين العام والخاص لتحسين إجراءات تطوير تكنولوجيا المعلومات والأتصالات في أفريقيا، وتساهم هواوى بإستمرار كشركة رائدة في مجال حلول التكنولوجيا المعلومات والأتصالات في توفير حلول شبكات الأتصالات خاصة وصلات الأنترنت فائق السرعة (النطاق العريض)، وتوفير إمكانية إستخدام الأنترنت بأسعار معقولة بما يتناسب مع إمكانيات الدول الأفريقية. نحن ممتنون بإنضمام هواوي والدخول في شراكات مع الحكومات الأفريقية، والأتحاد الدولي للأتصالات، و الجمعية الدولية لشبكات الهاتف المحمول، والبنك الدولي، وسائر أعضاء التحالف لتحويل أفريقيا من خلال تكنولوجيا المعلومات والأتصالات. ونحن نؤمن أن خبرة وتجربة هواوي سوف تنمي الأقتصاد الرقمي في الدول الأفريقية مما سيحسن من قدرتهم التنافسية العالمية ".

وخلال إجتماع مجلس وزراء تكنولوجيا المعلومات والاتصالات من مختلف البلدان الأفريقية ناقش السيد/ جيمي بانغ -  نائب رئيس هواوي – رؤية هواوى فيما يختص بالتحالف الأفريقي وصرح "المفتاح الرئيسي لتسريع الأقتصاد الرقمي في أفريقيا هو تحسين البنية التحتية لتكنولوجيا المعلومات والأتصالات، ورفع مستوى رقمنة كل صناعة، وتعزيز تبادل الخبرات ونقل المهارات، وسوف نواصل دعمنا لمبادرة التحالف بالتعاون مع جميع المسؤلين لزيادة التواصل في أفريقيا وبناء أفريقيا الذكية معا. "

إنضمت هواوي لأجتماع مجلس التحالف الإفريقي لتكنولوجيا المعلومات والأتصالات حيث قام مسئولى الشركة بمشاركة أفكارهم فيما يتعلق بوسائل الأستفادة من تكنولوجيا المعلومات والأتصالات فى مجال التطوير الأجتماعي والأقتصادى في افريقيا مع أعضاء المجلس من رؤساء دول أفريقيا، على رأسهم فخامة الرئيس السيد/ بول كاغامي رئيس رواندا الدولة المضيفة لقمة إتحاد أفريقيا ال27 ورئيس مجلس التحالف الأفريقي.

بدأت هواوي اعمالها فى أفريقيا عام 1998، حيث قامت بتحسين وسائل الأتصال في أكثر من 50 دولة أفريقية من خلال توفير خدمات شبكات الأتصالات المتطورة والأجهزة الذكية بتكلفة معقولة، وستقوم هواوي بمساعدة التحالف في تدشين مشاريعهم الرائدة ودفع الأقتصاد الرقمي في أفريقيا من خلال تبادل الخبرات وتنمية المواهب في مجال تكنولوجيا المعلومات والأتصالات.

Nike Presents: An Unlimited Future

The road to greatness is a long one, made up of staunch determination, inevitable struggles and hard-won triumphs. Nike applauds the perseverance of the world’s greatest athletes and underscores a summer of sport with its “Unlimited Campaign," which extends the brand's recent series of athlete shorts and encourages everyone to embrace an “unlimited” mindset.

The company also profiles a number of its premier athlete and new performance innovations, here, detailing in-depth the resolve that victory requires.

To view the film, visit http://news.nike.com/news/unlimited-future-film

YouTube link: https://www.youtube.com/watch?v=ivqhMxjV7j8