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Virus plague fails to stem losses at Network Associates

Security firms not immune from IT spending slowdown

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Security software firm Network Associates has recorded a second quarter loss of $37 million as its sales slid by 16 per cent.

The recent run of computer viruses hasn't helped Network Associates, which is best known for its McAfee anti-virus software, escape the general downturn in IT spending. Sales for the quarter fell from $233.7 million to $195.9 million, a drop that can probably explained by a knock on effect a slowdown in PC sales has had on security software.

Network Associates has lost money over its last three quarters but chief executive George Samenuk predicted that better times lay ahead and forecast its losses for the year would be less than those previously forecast. ®

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