Symantec Income Rises on Back of Storage Business
Symantec posted an increase in the second quarter of its 2009 fiscal year, the company reports. While Symantec's security and compliance business grew only 1 percent when compared with the same quarter last fiscal year, its storage business grew by 12 percent and its services business increased 16 percent.Symantec reported significant year-over-year growth in its most recent quarter, riding on a strong uptick in its storage and services business. In the second quarter of fiscal 2009, which ended for Symantec Oct. 3, the company's net income reached $140 million-a $90 million increase over the income the company reported during the same period in 2008. Overall, the company posted a total of $1.518 billion in revenue.
Symantec's Storage and Server Management segment represented 38 percent of total non-GAAP (Generally Accepted Accounting Principles) revenue for the quarter, representing the largest share of the company's revenue. The Consumer segment represented 29 percent of non-GAAP revenue, while the Security and Compliance business represented 26 percent.