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

To: George who wrote (1853)	10/18/2001 12:36:24 PM
From: jhg_in_kc	Read Replies (1) \| Respond to of 2069

in addition to the article below, two upgrades to strong buy today. I doubled my (small) holdings. any thoughts anyone. I beilieve this stock and Berkshire Hathaway are going to be strong in the new era we are in. Symantec easily beats estimates By Shawn Langlois, CBS.MarketWatch.com Last Update: 5:30 PM ET Oct. 17, 2001 CUPERTINO, Calif. (CBS.MW) -- Symantec Corp. crushed analyst earnings expectations by 13 cents a share on Wednesday, citing a streamlined approach and increased demand for anti-virus security. FRONT PAGE NEWS U.S. averages take separate paths US continuing jobless claims most in 18 years U.S. sets $1 million award for anthrax arrests Apple shares jump even as profit falls Market news and more! Sign up to receive FREE email newsletters Get the latest news 24 hours a day from our 100-person news team. The Internet security firm reported a second-quarter loss of $11.8 million, or 16 cents a share. A year ago, Symantec posted $39 million in net income, or 61 cents a share. Excluding the amortization of goodwill and all other acquisition-related expenses, Symantec posted earnings of $42.3 million, or 56 cents a share, down from $47.9 million, or 61 cents a year ago, but topping Thomson Financial/First Call estimates of 43 cents a share. Revenue came in at $242.4 million, compared to $226.4 million a year earlier. Last month, CFO Greg Myers, addressing investors at the Salomon Smith Barney technology conference in New York, reaffirmed the company's prior pro forma guidance of 43 to 50 cents a share on $230 million to $240 million in revenue for the quarter. "Our revenue figure was $2.4 million above the range we had given the Street earlier, which, quite frankly, is really good news considering all the events of the past month," Myers told CBS.MarketWatch.com. He pointed to a "commendable job in controlling overhead" and 45 percent growth in the company's antivirus product as contributing factors to the successful quarter. "We'll continue to guide to the low end of our annual range," responded Myers when asked about upcoming quarters. "We're cautiously optimistic all the time. The markets are constantly in one state of turmoil or another, but we seem to be weathering it well right now." Since the beginning of the year, shares of the Cupertino, Calif.-based firm have nearly doubled in value since Web security firms jumped into the spotlight after the proliferation of computer viruses and worms such as "Code Red" and last month's "W32.Nimda." "The security landscape is changing and the new breed of blended threats we experienced during the quarter raised the awareness of individuals and enterprises of the need for comprehensive security solutions," said CEO John W. Thompson in a press release. "We are pleased with our fast, comprehensive response to these threats and the trust our customers have placed in us."