Symantec Announces Record Second Fiscal Quarter Results
73% Increase in Corporate Revenue and 65% Increase in International Sales Drive Growth
CUPERTINO, Calif., Oct. 20 /PRNewswire/ -- Driven by continued performance in corporate and international markets, Symantec Corporation (Nasdaq: SYMC) today announced record revenues of $182.5 million for the second fiscal quarter 2000 -- an increase of 40 percent over the same quarter a year ago.
Net income before the amortization of goodwill and one-time-charge was $31 million, or $0.51 per diluted share, compared to $11.1 million, or $0.19 per diluted share for the same quarter a year ago. Net income before one-time-charge was $27.1 million, or $0.45 per diluted share compared to $10.6 million, or $0.18 per diluted share for the same quarter a year ago.
In addition, the company had a one time charge of $1.2 million in the quarter, mostly related to in process research and development associated with the purchase of URLabs. Earnings per diluted share after goodwill and one time charge was $0.43.
"We are very pleased with the team's performance around the world. The combination of new product releases and strong sales performance, particularly in the corporate marketplace, has delivered a solid quarter for our company and its shareholders," said Symantec's chairman, president and CEO, John W. Thompson. "We are achieving better balance in our revenue, both in terms of geographic mix and sales to corporate and consumer customers."
Symantec also announced plans to restructure with two customer business units -- the Enterprise Solutions Division and Consumer Products Division. In addition, the company will establish two support units -- a Core Technology Unit and Strategic Market Development Unit. |
