Feeds

Symantec braces for economic downturn

Precautionary $7bn hit helps boost share price

SANS - Survey on application security programs

Symantec's operating profits beat Wall Street forecasts, but the firm still recorded a $6.8bn third quarter loss because of write-downs.

The company reported a third-quarter loss of $6.8bn compared to a profit of $132m in the same quarter last year. Sell fell slightly by 0.1 percent to $1.51bn in the the three months running up to 2 January 2009. It was pushed into the red after it took a $7bn charge, equivalent to two-thirds of the goodwill on its books.

Symantec's Veritas line of storage software can help in cost-saving server virtualisation projects, while its line of security software is seen as a necessary business expense even in tough economic times, up to a point. Deferment of e-commerce projects and the like is a factor that's likely to lead to a slowdown in enterprise sales of Symantec's security technology.

The security and compliance (enterprise security) segment of Symantec's business represented 26 percent of sales, but declined five percentage points year on year. By contrast the consumer security segment grew two percentage point to make up 29 per cent of the pie. Storage and server sales rose one percentage point to make up 37 per cent of revenues.

Unlike many technology firms, Symantec's sales expectations for the next three months were in line with analyst estimates at between $1.47bn and $1.52bn, helping its shares to rise three per cent on Wednesday to close at $14.63.

A statement on Symantec's results can be found here. ®

High performance access to file storage

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.