SOURCE: The Bedford Report

The Bedford Report

January 27, 2011 11:25 ET

Fortinet & AU Optronics Benefit From Surging Consumer Confidence

The Bedford Report Provides Analyst Research on Fortinet & AU Optronics

NEW YORK, NY--(Marketwire - January 27, 2011) - Companies throughout the computer peripherals sector have seen their top lines shrink in recent quarters as consumer spending has remained poor in the US. With the lukewarm economic recovery and continuing concerns about the strength of the employment market, several companies in the industry focused on cost-cutting measures to remain profitable. Going forward, there is hope that consumer spending will pick up. In January, consumer confidence hit an eight-month high in January, with spending growing at the best rate since 2006. The Bedford Report examines the outlook for companies in the Computer Peripherals Industry and provides research reports on Fortinet, Inc. (NASDAQ: FTNT) & AU Optronics Corporation (NYSE: AUO). Access to the full company reports can be found at:

Shares of Fortinet surged more than 15 percent yesterday on heavy volume after the company posted fourth quarter GAAP per-share earnings came in at 20 cents. Revenues spiked 32 percent year on year as adoption of Fortinet's products is going better than expected.

Ken Xie, president and CEO of Fortinet, stated that going forward Fortinet remains "focused on strengthening and expanding our solution offering through new products and enhancements to help keep our competitive edge and meet the network security needs of large enterprises worldwide."

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AU Optronics saw shipments of large-size flat-panels decrease more than two percent in the fourth quarter. The company is confident that demand will recover in the near future. Consolidated revenue fell 16.9% for the company in December compared with last year

Earlier this week Sharp Corporation announced that it has sued AU Optronics over alleged patent violation for liquid crystal displays. Liquid crystal products have proven to be popular and are used in LCD televisions as well as for computer screens.

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