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Symantec Corporation Message Board

  • Jim_Rogers_Biker_Investor Jim_Rogers_Biker_Investor Oct 15, 1998 5:10 PM Flag

    Earnings 2

    So let's figure .12 for 4 quarters =
    0.48.

    With that, the current PE is about 18 or 19. I can see
    where the stock will come back along with lots of other
    beaten down tech stocks. Normal PE on these guys is
    about 40!

    • I am long in SYMC and regret it from a financial
      perspective.
      I also regret that the people who invest in
      technology do not take the time to understand technology.
      Your posts have been not only educational but also
      very literate. I appreciate them.

      They do
      however show a great lack of knowledge of the product
      lines, quality, and battle over distribution channel.
      The current battle for the desktop is indeed in the
      hands of individual users not corporate buyers and
      technicians. When a senior management official or group buyer
      goes to the web or a retail store and purchases a dud
      product, you can be sure that product will not be the
      corporate standard. In effect, computer software is being
      purchased by "super majority rules." Technology managers
      such as me must consider brand loyalty. All of this is
      to say that your arguments regarding corporate sales
      being more important than retail are not as valid as
      they once would have been.

      Additionally I
      firmly believe that while SYMC and QDEK have had some
      tough times, the consolidation in the desktop "after
      market" software is natural. NETA has had some good
      products but I left them because of some massive upgrade
      policy failures and a decision to change technology
      without informing their user base. Cost of ownership was
      not the issue as much as support. Unfortunately,
      investors such as you care only about IR and not product
      support. This is one of the reasons that many
      entrepreneurs hate going public. It forces them to react to
      people who do not understand their products, their
      markets, or their strategy. The next couple of years will
      be a time of consolidation and preparation for NT
      Workstation 5.0 (1Q 2000 ??). It is in beta but much of the
      essential functionality is still missing. I have read
      nothing about 6.0 as of yet.

      While I shall miss
      your tirades, I shall hope your ilk has left the
      trading of SYMC to long term investors who understand
      technology. While I have a paper loss I have not been so
      foolish as to trade it into a paper loss that would fill
      me with the venom that seems to possess you.


      Gordon may not be the most capable manager but he
      follows Oliver Wendell Holmes admonition that sometimes
      we must sail with the wind and sometimes we must
      sail against the wind, but we must always sail.

    • I'm done with this company. I don't care if they
      find a cure for cancer, I wouldn't invest another
      dollar with present management. I feel strongly that
      they are a bunch of liars and they don't care about
      the stock performance because they don't own a
      significant stake in the company.

      It will take six to
      nine months for them to regain the momentum that they
      lost. I don't think they will ever regain trust on the
      street. I certainly don't trust them and I am not alone.
      By the time they get any momentum going, MSFT will
      come out with NT 6.0 and the whole cycle of delayed
      purchases will begin again. Sales will disappear and the
      stock will tank.

    • eom

    • You can't leave like this, I was reading your posts and I think everyone enjoyed them.
      Remember 2 years after this stock.
      It will be much better this time, Max!!!

    • Neta will not buy anymore, its kitchen is too messy...

    • Just look at the long term chart and you will
      clearly see support at 9 dollars. their are also many
      indicators flashing buy signals. Fidelity mutual funds and
      many others will see what I see and the price will
      move upward. Good luck to you all.

    • Don't own SYMC anymore. Don't own TMAR anymore. Though they both look cheap, wouldn't buy either of them.

      Good luck.

    • Do not tender your shares. Lets put them together
      and talk a better deal with NETA. I am sure they can
      use Cleansweep, Remove-it or Disc Clone or
      Partition-it, etc....

      Just Say No to Symantec!

    • Most takeovers of struggling companies are based
      on revenue rather than R&D pipeline, management
      talent etc.

      NETA fired virtually all of CYBR's
      nearly 200 employees. What research was retained?
      Virtually nothing except the existing code. I don't think
      NETA will be releasing new versions of CYBR products.
      How many of CYBR's managers were retained for their
      talent?

      I agree that if you are top shelf companies with
      significant new technology then other aspects
      count.

      This is just my opinion.

      BTW, in the six months
      prior to acquisition, here are the
      comaprisions

      Company Revenue Loss
      CYBR 10.6 27.9
      QDEK 21.3
      21.7

      All numbers in millions.

    • SYMC says they will meet next quarters numbers on
      earnings - I think it is in the low forties
      (cents/share).

      This does not include any one of four OEM deals in the
      channel- which may or may not go through. Nor does it
      include the additional revenue that was lost when power
      failed in Dublin.

      Gordon claims that the QDEK
      acquisition will be non-dilutive. Only two QDEK products were
      mentioned - Uninstaller and Procomm Plus. Uninstaller is
      apparently the leaader in its category while Procomm Plus
      has many corporate customers who can be brought in as
      SYMC customers, though G.E. claims that Procomm Plus
      is profitable. As for QDEK employees, an oblique
      reference was made indicating that SYMC had just made
      cutbacks, it could not be expected to carry additional
      expenses.

      SystemWorks appears to be doing well. 30% of NAV 4 who
      upgraded to NAV 5.0 upgraded to SystemWorks.

      1
      million of IBM customers have been converted to NAV
      representing between 3500 to 4000 IBM customers. I think IBM
      had 8000 AV customers. IBM's sales force is selling
      NAV worldwide, the first non-IBM product to be sold
      by IBM according to G.E.

      Intel should bring
      18000 customers though they will not be as large as
      IBM's.

      1.7 million shares were repurchased last quarter out
      of 3 million which were authorized. Remaining will
      be purchased this quarter.

      Sales breakdown
      was 33% International with 2/3rds of it coming from
      Europe, Middle East, North Africa. Corporate business was
      1/3rd with the retail being 2/3rd. Gross margin for the
      quarter was 85%, 2% lower than last quarter due to fewer
      OEM deals.

      Cash & Investments on hand fell to
      274 million primarily due to the stock buyback. Intel
      has not been paid yet for AV business.

      Ghost
      selling well with 30% quarter to quarter (i.e.,
      sequential) growth. Norton 2000 is also sellin
      well.

      Concentrating on 10 million mobile workers expected in the US
      by the year 2000. Digital Immune System product due
      by next year.
      Mac sales were up 50% in Sept
      quarter over June quarter.

      Sharp pickup in volume
      of retail sales in last two weeks of September.
      Systemworks now shipping with a copy of QDEK's RemoveIt
      utility. G.E. claimed that SystemWorks is getting good
      reviews.

      This is just my summary of the Conference Call. I may
      have missed something important or may have reported
      something incorrectly. If you want to listen, call
      719-457-0820 with code 549 296.

      Good Luck

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SYMC
23.83Jul 25 4:00 PMEDT

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