Undaunted By Microsoft Security Push, Symantec Continues Growth Path - InformationWeek
IoT
IoT
News
News
1/19/2005
05:59 PM
50%
50%

Undaunted By Microsoft Security Push, Symantec Continues Growth Path

Quarterly revenue grew more than 40%, as Symantec executives vowed to both partner with and compete against Microsoft.

If Microsoft's tepid entrance into the PC security market--with the enhanced security capabilities of Windows XP Service Pack 2 and its recently announced anti-spyware beta application--are going to cut into the earnings of Internet security companies, it hasn't happened yet. At least not in the earnings reported by Symantec Corp. on Wednesday.

Symantec executives showed little concern during an investor conference call Wednesday about Microsoft's foray into their territory. Symantec executives said they believe they'll continue to compete with Microsoft as well as partner with the company.

For its fiscal third quarter ended Dec. 31, Symantec reported revenue of $695 million, up 41% from the same period last year when the company posted $494 million. Net income for the quarter, at $164 million, rose 38% from third-quarter 2003 revenue of $111 million.

The company's consumer software revenue represented 52% of its total revenue and grew 49% year over year. Symantec's sales to businesses--which include corporate security, administration, and services--also grew at a healthy clip of 33% and represent 48% of the company's total revenue. International revenue represents 54% of the company's total revenue.

Symantec expects revenue of between $690 million and $710 million for its fiscal fourth quarter, which would mark 24% or better sales growth from the previous year.

Earlier this week, Symantec said a team will work to manage its $13.5 billion all-stock acquisition of Veritas Software Corp., disclosed on Dec. 16. Veritas CFO Ed Gillis will lead the integration. At the time of the acquisition, Symantec executives said the Veritas acquisition would create a company capable of providing security and information-availability products and services for everyone from home users to large data centers.

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
How Enterprises Are Attacking the IT Security Enterprise
How Enterprises Are Attacking the IT Security Enterprise
To learn more about what organizations are doing to tackle attacks and threats we surveyed a group of 300 IT and infosec professionals to find out what their biggest IT security challenges are and what they're doing to defend against today's threats. Download the report to see what they're saying.
Register for InformationWeek Newsletters
White Papers
Current Issue
2017 State of IT Report
In today's technology-driven world, "innovation" has become a basic expectation. IT leaders are tasked with making technical magic, improving customer experience, and boosting the bottom line -- yet often without any increase to the IT budget. How are organizations striking the balance between new initiatives and cost control? Download our report to learn about the biggest challenges and how savvy IT executives are overcoming them.
Video
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Flash Poll