Feeds

Symantec sales up, but profits drop

Norton suite secures revenue

The essential guide to IT transformation

Symantec's profits for its first fiscal quarter slumped 5.3 per cent, but the company managed to beat analyst expectations with increased sales of its Norton security software.

The company's income dropped to $95.2m, compared to $100.5m a year earlier. Symantec said the results were impacted by a $19m restructuring charge related to job cuts announced earlier this year.

Meanwhile, sales rose 11 per cent to 1.4bn in the first quarter, which ended June 30. During the same period last year, sales were at 1.26bn. Analysts had expected Q1 earnings to be around $1.32bn.

According to Symantec CFO James Beer, consumer revenue generated $434m during the quarter, increasing 11 per cent year-over-year. Norton Internet Security revenue grew 31 per cent, and remains the single largest product contributer in their consumer category — generating about 63 per cent of customer revenue.

Symantec's enterprise Security and Data Management wing earned the company $423.2m in sales, increasing 4 per cent over last year. The Data Center Management group produced $399.2m in revenue, increasing 5 per cent year-over-year.

CEO John Thompson also attributes the company's growth to the recent $830m acquisition of Altiris.

The Altiris business unit generated $89m in revenue, which consisted of three Symantec products producing $32m and Altiris products contributing the remaining $53m.

“Performance for the quarter was driven by strong demand in many of our core and emerging technology solutions, as well as solid execution by our services, consumer and Altiris teams,” said Thompson. “We’re off to a good start to our fiscal year.”

The Cupetino-based company estimates fiscal Q2 revenue will be between $1.35bn and $1.38bn. ®

Next gen security for virtualised datacentres

More from The Register

next story
e-Borders fiasco: Brits stung for £224m after US IT giant sues UK govt
Defeat to Raytheon branded 'catastrophic result'
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
Germany 'accidentally' snooped on John Kerry and Hillary Clinton
Dragnet surveillance picks up EVERYTHING, USA, m'kay?
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
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.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.