Symantec Quarterly Profits Down Slightly, but Revenue Up

By Chris Preimesberger  |  Posted 2011-05-11 Print this article Print

Revenue improved to $1.67 billion, a 9 percent improvement from $1.53 billion last year and $70 million more than Wall Street analysts had expected.

Data protection and software management provider Symantec on May 11 reported a 9 percent decline in its profits for its fourth-quarter 2011 earnings, but the company still bettered Wall Street analysts' projections.

The Mountain View, Calif.-based company that makes the popular Norton Security Suite cleared $168 million (22 cents per share) for the three-month period ending April 1, compared with earnings of $184 million (23 cents) for the same period a year ago.

Revenue improved to $1.67 billion, a 9 percent improvement from $1.53 billion last year and $70 million more than analysts had told their clients to expect to see.

Symantec's sales of new licenses climbed 11 percent to $280 million, indicating strength in potential future business from maintenance and product upgrades.

In the fiscal year it just finished, Symantec earned $597 million, or 76 cents per share, on revenue of $6.2 billion. That compared with net income of $714 million, or 87 cents per share, on revenue of $5.99 billion in the previous year.

The company's stock was flat at $19.41 in extended trading after the quarterly results were reported. Shares were down slightly (15 cents) to close at $19.41 in the regular day session.

Chris Preimesberger Chris Preimesberger was named Editor-in-Chief of Features & Analysis at eWEEK in November 2011. Previously he served eWEEK as Senior Writer, covering a range of IT sectors that include data center systems, cloud computing, storage, virtualization, green IT, e-discovery and IT governance. His blog, Storage Station, is considered a go-to information source. Chris won a national Folio Award for magazine writing in November 2011 for a cover story on and CEO-founder Marc Benioff, and he has served as a judge for the SIIA Codie Awards since 2005. In previous IT journalism, Chris was a founding editor of both IT Manager's Journal and and was managing editor of Software Development magazine. His diverse resume also includes: sportswriter for the Los Angeles Daily News, covering NCAA and NBA basketball, television critic for the Palo Alto Times Tribune, and Sports Information Director at Stanford University. He has served as a correspondent for The Associated Press, covering Stanford and NCAA tournament basketball, since 1983. He has covered a number of major events, including the 1984 Democratic National Convention, a Presidential press conference at the White House in 1993, the Emmy Awards (three times), two Rose Bowls, the Fiesta Bowl, several NCAA men's and women's basketball tournaments, a Formula One Grand Prix auto race, a heavyweight boxing championship bout (Ali vs. Spinks, 1978), and the 1985 Super Bowl. A 1975 graduate of Pepperdine University in Malibu, Calif., Chris has won more than a dozen regional and national awards for his work. He and his wife, Rebecca, have four children and reside in Redwood City, Calif.Follow on Twitter: editingwhiz

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