Feeds

Symantec shares slip on poor results

Misses targets

Website security in corporate America

Symantec saw its share price slide this morning as the markets reacted to its failure to meet targets for the quarter.

For the third quarter of 2004, ended 30 December 2005, profits fell to $91m from $163.6m for the same period last year. This resulted in earnings per share of $0.22 instead of the $0.25 expected.

The security vendor's shares fell four per cent on the news.

Symantec blamed costs associated with its takeover of Veritas for the missed targets. It booked Veritas-related costs of $166m - money which would have otherwise meant Symantec exceeded Wall Street predictions.

Revenue for the period was $1.15bn, up from $695.2m.

Looking forward Symantec predicted turnover of between $1.19bn and $1.22bn. For the full financial year of 2006 Symantec predicts revenue of between $5.35bn and $5.55bn.

Data protection made up 26 per cent of total revenues, storage management was 23 per cent of business and grew nine per cent year-on-year. Enterprise security made up 21 per cent of total revenues and grew seven per cent. Service revenues made up only four per cent of business but did grow 38 per cent.

Symantec also announced a $1bn share-buyback scheme.

More details on Symantec's website here. ®

Protecting users from Firesheep and other Sidejacking attacks with SSL

More from The Register

next story
Hackers pop Brazil newspaper to root home routers
Step One: try default passwords. Step Two: Repeat Step One until success
UK.gov lobs another fistful of change at SME infosec nightmares
Senior Lib Dem in 'trying to be relevant' shocker. It's only taxpayers' money, after all
Critical Adobe Reader and Acrobat patches FINALLY make it out
Eight vulns healed, including XSS and DoS paths
Spies would need SUPER POWERS to tap undersea cables
Why mess with armoured 10kV cables when land-based, and legal, snoop tools are easier?
TOR users become FBI's No.1 hacking target after legal power grab
Be afeared, me hearties, these scoundrels be spying our signals
Blood-crazed Microsoft axes Trustworthy Computing Group
Security be not a dirty word, me Satya. But crevice, bigod...
Snowden, Dotcom, throw bombs into NZ election campaign
Claim of tapped undersea cable refuted by Kiwi PM as Kim claims extradition plot
Freenode IRC users told to change passwords after securo-breach
Miscreants probably got in, you guys know the drill by now
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.