Sun, Aug 31, 2014, 4:22 AM EDT - U.S. Markets closed

Recent

% | $
Quotes you view appear here for quick access.

Symantec Corporation Message Board

  • bluecheese4u bluecheese4u Oct 24, 2012 4:49 PM Flag

    Symantec Reports Second Quarter Fiscal 2013 Results; Delivering Record September Revenue, EPS and Deferred Revenue

    Symantec Reports Second Quarter Fiscal 2013 Results; Delivering Record September Revenue, EPS and Deferred Revenue

    MOUNTAIN VIEW, Calif. – October 24, 2012 – Symantec Corp. (Nasdaq: SYMC) today reported the results of its second quarter of fiscal year 2013, ended Sept. 28, 2012. GAAP revenue for the fiscal second quarter was $1.7 billion, up 1 percent year-over-year and up 5 percent after adjusting for currency.

    “I am pleased with the team’s results and progress made this quarter. We delivered solid results during the first quarter of a significant transition for the company,” said Steve Bennett, chairman, president and chief executive officer, Symantec. “After travelling the world speaking to employees, customers and shareholders, there is a strong sense of excitement about our future success. While focused on running the company, the team is also hard at work building a strategy and operational plan to deliver greater than 5 percent organic growth and 30 percent operating margins on a sustainable basis within the next two-to-three years.”

    “We delivered better than expected results with record September revenue and deferred revenue, in addition to strong net income and EPS as we continue to make improvements to the performance of our businesses,” said James Beer, executive vice president and chief financial officer, Symantec. “We saw strength in enterprise security and backup as well as growth in consumer security.”

    GAAP Results for second quarter of fiscal year 2013

    • GAAP operating margin was 18.0 percent compared with 17.0 percent for the same quarter last year, up 6 percent year-over-year.

    • GAAP net income was $193 million compared with net income of $182 million for the year-ago period, up 6 percent year-over-year.

    • GAAP diluted earnings per share were $0.27 compared with $0.24 for the year ago quarter, up 13 percent year-over-year.

    • GAAP deferred revenue was $3.619 billion compared with $3.452 billion for the year ago quarter, up 5 percent year-over-year on an actual and currency-adjusted basis.

    • Cash flow from operating activities was $178 million compared with $308 million for the year ago period due to higher tax, restructuring and transition payments, foreign currency movements as well as lower September quarter cash collections.

    • Symantec ended the quarter with cash, cash equivalents and short-term investments of $4.0 billion. During the quarter, Symantec repurchased 12 million shares for $200 million at an average price of $16.48. Symantec has $483 million remaining in the current board authorized stock repurchase plan.


    Non-GAAP Results for second quarter of fiscal year 2013

    • Non-GAAP operating margin was 27.5 percent compared with 25.5 percent for the same quarter last year, up 200 basis points year-over-year (up 250 basis points after adjusting for currency) driven by stronger revenue and lower costs.

    • Non-GAAP net income was $322 million, compared to $295 million for the same quarter last year, up 9 percent year-over-year.

    • Non-GAAP diluted earnings per share were $0.45 compared with earnings per share of $0.39 for the year-ago quarter, up 15 percent year-over-year.


    Business Segment Highlights for the Quarter

    • The Consumer segment represented 31 percent of total revenue and decreased 1 percent year-over-year (increased 3 percent after adjusting for currency).

    • The Security and Compliance segment represented 30 percent of total revenue and increased 6 percent year-over-year (increased 9 percent after adjusting for currency).

    • The Storage and Server Management segment represented 35 percent of total revenue and decreased 2 percent year-over-year (increased 2 percent after adjusting for currency).

    • Services represented 4 percent of total revenue and increased 2 percent year-over-year (increased 7 percent after adjusting for currency).

    sec

 
SYMC
24.28+0.12(+0.50%)Aug 29 4:00 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.