I don't know where Yahoo gets their estimates from. I've been using MSN and Excite and they have had the same estimates for months. In any case, if you don't include amortization, their earnings were 48 cents.
Here is a summary of their conference call
1. Revenues for this year 633.8 million Earnings before charges but including amortization $1.42
2. Targets for next year 20% revenue growth, 20 to 25% eps growth.
3. Three factors key in this quarter's results:
a. Corporate Market - up 69% over last year
b. International Sales - up 12% sequentially
c. Strength in Retail Sales
4. In this last quarter, 42% of revenues were from Corporate sales. The pipeline is strong and expect to beat this number for the next two quarters.
5. European sales up 27% from last year.
6. Symantec is #1 or #2 in all business software markets worldwide
7. 57% of Revenues from Security and Assistance
35% of Revenues from Remote Productivity
8% from Internet Software
8. Stock buyback of 75 million has not started yet. Can only start after quiet period. Can begin tomorrow.
9. DSOs were 39 days up from 34 days but down from 43 days in Sept quarter. Target for DSOs is 40 days as mentioned in every conference call
10 IBM relationship has added 2.5 million seats. Virtually all US customers converted. 80% of worldwide customers to convert to NAV.
11. Norton 2000 and NAV integrated into Tivoli It and Tivoli Management Framework.
12. Visual Cafe has 55% of the retail market. VJ for Enterprise being used at AT&T, FedEx, Nike.
13. International Customers added - Harrods, British Gas, SAP, Air France, Honda, Fujitsu, Canon, Samsung ..
14. Using IBM sales channel 10,000 Dr Solomon customers converted representing 500,000 seats.
15. No perceivable effect of year 2000 because of smaller deal size. In North America this quarter, SYMC had 19,000 deals averaging $2000.
16. PC Anywhere, Ghost and Norton 2000 being helped by Y2K spending.
17 New Products
Digital Immune System in the Fall
Mobile Essentals Ver 2.0 in the June quarter
Ghost for Netware (June quarter)
Internet Protection Software for Retail (June quarter)
Server Solutions for NT
18 John Thompson came across very well.
19 Please note that NAV and especially Systemworks are based on subscription models. Thus, sales are followed by revenues every year. $4 for NAV and $29.99 for Systemworks.
Please note that these are just my impressions. Please listen to the conference call yourself since it is being replayed. |
