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Symantec Q4 Earnings Fall But Beats Wall Street View

Security software maker Symantec Corp. has posted fourth quarter lower earnings of USD 119 million, or 11 cents a share, from USD 120 million or 16 cents a share in the year-ago period, as increased spending on areas such as sales and marketing helped push costs higher following the acquisition of Veritas. Excluding one time and special items, the company posted profit of 26 cents a share, beating Wall Street Estimates of 25 cents a share, according to Reuters Estimates.

Revenue for the quarter rose to USD 1.24 billion from USD 712.7 million. Including USD 61 million of deferred revenue related to Verita’s acquisition, Symantec said its revenue grew one percent to USD 1.30 billion over the combined Symantec and Veritas revenue for the March 2005 quarter of USD1.29 billion. Analysts were expecting revenue of USD1.27 billion.

For the forthcoming first quarter, the company expects earnings of between 20 cents and 21 cents a share, excluding items of about USD 145 million, on non-GAAP revenue of between USD 1.22 billion and USD 1.25 billion.

For 2007, it expects earnings of between USD 1.05 and USD 1.15, excluding items, on non-GAAP revenue in the range of USD 5.3 billion to USD 5.5 billion, including about USD 55 million in deferred revenue from the Veritas merger.


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