Financial

posted on 31 July 2008 09:03

Symantec's net income rose 97 percent in its first quarter of fiscal 2009 compared to the year-ago quarter.

The company reported revenues of $1.65 billion, up 16 percent on Q1 fy08's $1.42 billion. GAAP net income was $187 million ($0.22/share) versus $95 million ($0.10/share) in Q1 fy 08.

Symantec chairman and CEO John Thompson, said: "The quarter's strong growth was driven by our team's ability to cross-sell and up-sell the breadth of our product portfolio which is reflected in the number of large transactions that include multiple products. The fiscal year is off to a terrific start with solid execution and performance across all segments and geographies."

For the quarter, Symantec's Storage and Server Management segment represented 37 percent of total non-GAAP revenue and grew 20 percent year-over-year. The Consumer business represented 29 percent of total non-GAAP revenue and grew 12 percent year-over-year. The Security and Compliance segment represented 27 percent of total non-GAAP revenue and grew 12 percent year-over-year. Services represented 7 percent of total non-GAAP revenue and grew 35 percent year-over-year.

For the second quarter of fiscal year 2009, ending Oct. 3, 2008, GAAP revenue is estimated between $1.520 billion and $1.560 billion. GAAP diluted earnings per share are estimated between $0.15 and $0.17.

^{[Chris Mellor.]}