Symantec reports fiscal 4th-qtr profit with higher revenue, absence of impairment charge
By APWednesday, May 5, 2010
Symantec reports profit in fiscal 4Q
MOUNTAIN VIEW, Calif. — Symantec Corp., maker of the Norton antivirus software — reported net income of $184 million for its fiscal fourth quarter, compared with a loss a year earlier, when it wrote down the value of its assets.
Shares of Symantec, whose performance beat Wall Street estimates, rose 70 cents, or 4.3 percent, to $16.95 after hours Wednesday. They had finished regular trading up 3 cents at $16.25.
For the quarter that ended April 2, Symantec’s net income totaled $184 million, or 23 cents per share, compared with a loss of $264 million, or 32 cents per share, a year earlier. Symantec reported a non-cash goodwill impairment charge of $413 million for the fourth quarter of fiscal 2009.
Excluding one-time items, it earned 40 cents per share — 3 cents more than analysts polled by Thomson Reuters expected on average.
Its revenue rose 4 percent to $1.53 billion. Analysts expected $1.52 billion.
Symantec said its content, subscription and maintenance revenue, which makes up the bulk of its revenue, rose nearly 8 percent to $1.28 billion.
For the full year, Symantec earned $714 million, or 87 cents per share, compared with a loss of $6.79 billion, or $8.17 per share, in fiscal 2009. The company reported $7.4 billion in goodwill impairment charges for all of fiscal 2009.
Revenue fell 3 percent to $5.99 billion from $6.15 billion the prior year.
For the current quarter ending July 2, Symantec predicted it will earn 16 or 17 cents per share, or 35 or 36 cents per share on an adjusted basis. The company expects revenue of $1.48 billion to $1.50 billion.
Analysts are looking for adjusted net income of 36 cents per share on $1.49 billion in revenue.
Tags: California, Mountain View, North America, United States
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May 5, 2010: 6:29 pm
David Freer (VP, Symantec Consumer Business Units - Norton, APJ) is a BIG LIAR! He lied to me for more than two and half years for my true feelings, time, and money. Also kept saying I am the only one in his life. Even this year on Feb. 2, he used company line to lead me to have phone sex with him. Until I found out there’s some other woman, he made up another lie and finally admitted he’s been living with her for a year. Later, I realized they were all lies. He actually has married March 2009. And now he just totally disappeared and not answering any phone calls, acting like “hit & run” irresponsible baby. Can you trust someone like this, with no ethics and integrity? The more unbelievable things are David Freer newly-wed wife - SUZY WALSHAM, she shamefully admitted she was the third person who broke up David Freer & his ex 12 years relationships, and mocking at me as the 3rd “unsuspected” person, as she agreed with his husband’s behaviors!!!!!! SHAME ON both of you, DAVID FREER & SUZY WALSHAM!!!!!!! (THEY BOTH WORK FOR SYMANTEC) |
 strelaoz |
May 5, 2010: 6:28 pm
As I have reported to Symantec Ethics about David Freer’s (VP, Symantec – Norton, APJ) misconducts (fraud, having dissented sex with me as he lied, using company resources for personal benefits – hundreds hours phone calls, hanging out with me during office hours, negative impacts on Symantec corporate image), what they do surprise me too. They basically ignore – never process the investigation, covering the serial lying & cheating criminal up, then threaten me. As Warren Buffet said when he decides which company is worth to invest, he values the CEO’s ethic and integrity the most. Being a senior management, David Freer shall walk the talks, instead he has set up a terrible example. How dare Symantec always campaign the company itself as defeat cyber criminals, but in the real world, Symantec acts just like robbers, mafia, & criminals. How ironic! |
strelaoz