A 9 percent increase in Symantec's consumer business led the way in the final quarter of its fiscal year 2010, the security company reports.
Symantec posted a strong fourth quarter for fiscal 2010 on the back of
strong consumer sales.
In its earnings announcement May 5,
Symantec said revenue rose 3 percent to $1.535 billion for the quarter,
reaching $6.01 billion for the fiscal year. The strongest growth occurred in
the consumer segment, which "represented 31 percent of total non-GAAP
[Generally Accepted Accounting Principles] revenue and increased 9 percent year
The company's security and compliance segment increased 2 percent year over
year, storage and server management declined 1 percent, and the services segment
increased 8 percent.
"We closed our fiscal year achieving better-than-expected results on
our key financial metrics in the fourth quarter," said Enrique Salem, CEO
of Symantec. "Sales activity continued to improve as the team utilized the
broader Symantec portfolio to take advantage of cross-sell and up-sell
opportunities. We drove continued improvement in our execution and results this
year, positioning the company well for fiscal year 2011 as we focus on making
it simpler for customers to secure and manage their information."
On April 29, Symantec
announced it would buy encryption
vendors PGP and GuardianEdge Technologies
for $300 million and $70 million, respectively. The deals are expected to close
later in 2010.