As a enterprise IT manager I can without hesitation tell anyone and everyone to avoid using Symantec products, in particular Backup Exec 2012. This product is a abortion. Symantec's India based support is useless. I am not alone in my evaluation of Symantec and Backup Exec 2012. Based on my experience with this #$%$ product and Symantec's "support" I am shorting SYMC.
Roy, clearly you are upset, and understandably so. The product you speak of is a major revenue contributor to Symantec and has been having dire problems in the 2012 version, as you point out. It is becoming a well known problem in the IT industry and Symantec is scrambling to try and figure out how to undo the mess they made of a legacy cash-cow product. Clearly this will have major customer and revenue implications for at least the next few quarters. Which is part of the reason why the company lowered earnings guidance for the current quarter in order to divert some funds toward customer satisfaction. The customers and shareholders will unfortunately be on the suffering end of this particular product predicament for a while to come, and the company will no doubt loose some market share and customers permanently as a result.
Classic example of the entrenched legacy products I've been warning about that are going to create tremendous problems for the new CEO's notion that he can correct the business of thirty-something different products and miraculously turn Symantec around after 8 consecutive years of failure under multiple CEO's. If it happens at all it surely isn't going to happen any time soon, and investors need to be extremely careful given the currently unjustified stock level and risks ahead. There's a lot of uncertainty that needs to be answered first in the coming quarters before the truth and reality might start becoming apparent through the fog of hype that is currently over-inflating the share price.
Current or prospective investors need to continue to exercise extreme caution.
LT, thanks for the reply. Unfortunately Symantec does not seem to want to keep us as a customer. I have tried on multiple occasions to resolve our BE2012 issues. We pay for support! At this time we are moving to a competitors product. I appreciate your insight.