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Technology Stocks : Symantec (SYMC) - What does it look like? -- Ignore unavailable to you. Want to Upgrade?

To: Wallace Rivers who wrote (1833)	6/13/2001 11:31:27 PM
From: jhg_in_kc	Read Replies (2) \| Respond to of 2069

all i saw was the article below, that and the insider selling i posted about recently. i am frustrated by the lack of talk on this thread. i bailed at 64 a couple days ago mainly because i can't find out what's going on... WHAT DO YOU THINK. I REALLY LIKE THIS CO. BUT... Network Associates Sees Asian Growth Picking Up By Jennifer Tan SINGAPORE (Reuters) - U.S. security software maker Network Associates Inc (NasdaqNM:NETA - news) chief executive George Samenuk said on Wednesday he expects growth of Asia Pacific operations to outpace that of the company's competitors in coming months. ``We should grow faster than the competition in the Asia Pacific. For example, Symantec (NasdaqNM:SYMC - news) should see 50 percent growth in Asia, while Trend Micro (4704.T) has very good growth in Asia Pacific,'' Samenuk told a news conference. ``I believe they are targets that we should exceed for growth in the Asia Pacific... our major goal is to grow faster than the competition.'' Samenuk attributed his optimism to the expanding personal computer and Internet usage in Asia. The company, a majority owner of antivirus solutions provider McAfee.com (NasdaqNM:MCAF - news), said it hopes to grow its international business in the next few years to account for 50 percent of group revenues from the current 30 percent. Samenuk said the company's goal was to achieve a 50-50 split between its U.S. and its international business eventually. ``We are placing more emphasis, money, talent to grow our international revenues,'' he said. Network Associates derived 67 percent of its sales from the United States and 33 percent of revenues from international operations in the January to March quarter of 2001. ``We expect to make more progress in subsequent quarters and in the next few years, get to the 50-50 revenue split,'' he said. Although the slower economies in the Asia Pacific region have resulted in some deferral in information technology spending, network management and security services are still in demand. ``Customers are not putting in new bandwidths, but making existing bandwidths more productive, so we are in the sweet spot of the technology world right now,'' Samenuk added. The company has said it expects to post $810 million to $840 million in revenues in 2001, against $745 million last year. It reported a first quarter proforma net loss, excluding charges, of $24.3 million or 17 cents per share, against a profit of $30 million or 20 cents per share a year ago. The company has said it expects to return to the black later this year. FOCUS ON R&D Samenuk said Network Associates plans to spend more than 20 percent of sales in research and development in its global markets in the coming months. ``We're investing in people, marketing, training -- that's our strategy to beat the competition,'' he added. The company's key markets comprise the technologically more mature countries of Australia, Singapore and Hong Kong, as well as emerging markets like China and India. Network Associates shares closed off 71 cents at $12.81 on Wednesday in New York. Email this story - View most popular \| Printer-friendly format