Network Associates Beats Estimates

 
 
By Dennis Fisher  |  Posted 2002-01-17
 
 
 

Network Associates Inc. on Thursday reported pro forma fourth-quarter earnings of $0.23 per share, or $40.5 million, a sharp improvement over the year-ago quarters loss of $0.87 per share.

Analysts had expected the company to turn in pro forma earnings of $0.08 per share.

This was the Santa Clara, Calif., security giants second consecutive profitable quarter. The company brought in $259 million in revenue during the quarter, more than four times the $58 million it brought in during the fourth quarter of 2000.

For fiscal 2001 Network Associates had $772 million in revenue, excluding McAfee.com, and earnings of $0.15 per share.

In addition to its strong earnings, the company also found itself with $943 million in cash at the end of the fourth quarter.

Network Associates officials also outlined the companys short-term product plans, including its new Sniffer Enterprise Manager, a web-based security-management console with integrated reporting capabilities, which will ship in March.

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