Feeds

PC market slowdown hits Symantec

Another Love Bug-style virus scare should see it right

  • alert
  • submit to reddit

Build a business case: developing custom apps

Symantec has issued a profit warning that suggests the slowdown in consumer PC sales is having a knock-on effect on the security market.

Weak sales to consumer and small business of its antivirus and security products, and the effects of currency fluctuations, have forced Symantec to warn that its first quarter sales will be only between $225 million to $235 million.

This is around $30 million less than the $255 million to $263 million the firm previously forecast.

Because of lowered sales, Symantec expects to report profit of between 39 cents to 47 cents a share, against prior estimates of 62 cents to 67 cents a share.

However Symantec expects sales to recover later this year. For its full financial year Symantec expects revenue growth "in the mid- to high-teens" from the $944.6 million it recorded in its last financial year.

John Thompson, chairman, president and chief executive of Symantec, said: "Although security spending is not recession-proof, we remain confident in the long-term health of the Internet security industry and continue to see strong order levels for our enterprise security solutions." ®

Related Stories

Govt and business security spend to grow tenfold by 2011
Reports of death of email viruses greatly exaggerated?
Symantec forgets to renew its digital certificate
Symantec under attack over security patents

Related Link

Symantec Revises First Quarter Outlook

The essential guide to IT transformation

More from The Register

next story
Rupert Murdoch says Google is worse than the NSA
Mr Burns vs. The Chocolate Factory, round three!
e-Borders fiasco: Brits stung for £224m after US IT giant sues UK govt
Defeat to Raytheon branded 'catastrophic result'
Germany 'accidentally' snooped on John Kerry and Hillary Clinton
Dragnet surveillance picks up EVERYTHING, USA, m'kay?
Snowden on NSA's MonsterMind TERROR: It may trigger cyberwar
Plus: Syria's internet going down? That was a US cock-up
Who needs hackers? 'Password1' opens a third of all biz doors
GPU-powered pen test yields more bad news about defences and passwords
Think crypto hides you from spooks on Facebook? THINK AGAIN
Traffic fingerprints reveal all, say boffins
Microsoft cries UNINSTALL in the wake of Blue Screens of Death™
Cache crash causes contained choloric calamity
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Solving today's distributed Big Data backup challenges
Enable IT efficiency and allow a firm to access and reuse corporate information for competitive advantage, ultimately changing business outcomes.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.