October 31, 2008

Symantec Reports Strong Q2

Security and storage software provider Symantec has reported a 180% increase in net income to $140m for the second quarter 2009, compared to net income of $50m in the year-ago quarter, on revenue up 8% at $1.52 billion.

Operating income during the quarter was $216m compared to $59m last year, and diluted EPS was $0.16 compared to the diluted EPS of $0.06 in the same quarter last year.

The company said content, subscription, and maintenance revenue grew 6% to $1.18 billion, while license revenue grew 12% to $337m.

Geographically, Americas revenue increased 8% to $822m, EMEA revenue grew 12% to $480m, and Asia Pacific revenue grew 11% to $216m.

During the quarter, it signed 326 agreements worldwide with a contract value of more than $300,000 each. Of the 326 agreements, 77 were worth more than $1m.

John W Thompson, chairman and chief executive at Symantec, said: "In the face of a slowing economic environment around the world, Symantec continued to generate growth in both our core business and in high growth areas which are becoming increasingly important to our customers. I am also quite pleased with our continued operating margin expansion and earnings growth, which is a result of our ongoing focus on managing costs and expenses."

For the third quarter it expects revenue between $1.45 billion and $1.5 billion and EPS between $0.11 and $0.14.