Symantec Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2011; Provides Earnings Guidance for the Fourth Quarter Ending March 30, 2012
January 25, 2012 at 04:05 pm
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Symantec Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2011. For the quarter, the company reported total net revenue of $1,715 million compared to $1,604 million a year ago. Operating income was $300 million compared to $229 million a year ago. Income before income taxes and loss from joint venture was $273 million compared to $177 million a year ago. Net income attributable to the company stockholders was $240 million or $0.32 per diluted share compared to net income attributable to the company stockholders of $132 million or $0.17 per diluted share a year ago. On non-GAAP basis, operating income was $449 million compared to $379 million a year ago. Net income was $314 million compared to $272 million a year ago. Diluted net income per share attributable to the company stockholders was $0.42 compared to $0.35 a year ago. GAAP deferred revenue was $3,665 million against $3,408 million a year ago. Cash flow from operating activities for the quarter totaled $403 million.
For the nine months, the company reported total net revenue of $5,049 million compared to $4,517 million a year ago. Operating income was $887 million compared to $641 million a year ago. Income before income taxes and loss from joint venture was $806 million compared to $523 million a year ago. Net income attributable to the company stockholders was $613 million or $0.82 per diluted share compared to net income attributable to the company stockholders of $429 million or $0.54 per diluted share a year ago. Net cash provided by operating activities was $1,214 million compared to $1,105 million a year ago. Purchase of property and equipment was $199 million compared to $185 million a year ago.
For the fourth quarter ending March 30, 2012, revenue is estimated between $1.72 billion and $1.73 billion, up 2.8% to 3.4% year-over-year as reported and 4.9% to 5.5% on a currency adjusted basis. GAAP diluted earnings per share are estimated between $0.23 and $0.24, up 5% to 9% year-over-year as reported. Non-GAAP diluted earnings per share are estimated between $0.41 and $0.42, up 8% to 10% year-over-year as reported. Deferred revenue is expected to be in the range of $3.915 billion and $3.935 billion, up 2.5% to 3.0% year-over-year as reported and 4.8% to 5.3% on a currency adjusted basis.
Gen Digital Inc. (formerly NortonLifeLock Inc.) is the world's leader in Internet security. The group develops and sells software programs designed for anti-intrusion protection, information and data security, application performance, storage, and server management, data management and storage, access filtering, vulnerability analysis, etc. Net sales break down by family of products as follows:
- consumer security and antivirus protection solutions (50.7%): Norton 360 Security, Norton Security, Norton Secure VPN, Avira Security, Avast, etc.;
- identity and information protection solutions (49.3%).
Net sales break down geographically as follows: Americas (70.2%), Europe/Middle East/Africa (18.1%) and Asia/Pacific (11.7%).
Symantec Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2011; Provides Earnings Guidance for the Fourth Quarter Ending March 30, 2012