Symantec Corporation Earnings: Net Income Declines Year over Year
S&P 500 (NYSE:SPY) component Symantec Corporation (NASDAQ:SYMC) reported its results for the fourth quarter. Symantec Corporation provides security, storage and systems management solutions to help businesses and consumers secure and manage their information.
Symantec Earnings Cheat Sheet for the Fourth Quarter
Results: Net income for Symantec Corporation fell to $168 million (38 cents/share) vs. $191 million (23 cents/share) a year earlier. A decline of 12% from the year earlier quarter.
Revenue: Rose 9.1% to $1.67 billion YoY.
Actual vs. Wall St. Expectations: SYMC beat the mean analyst estimate of 36 cents/share. Estimates ranged from 35 cents per share to 37 cents per share.
Quoting Management: “We closed our fiscal year surpassing expectations across each of our key financial metrics, driven by market share gains and growth in backup, software-as-a-service, data loss prevention and consumer. In addition, our recent acquisitions performed above expectations for the third consecutive quarter,” said Enrique Salem, president and chief executive officer, Symantec. “Our rigorous approach to running the business positions us well for fiscal year 2012, during which we will execute on our vision by energizing our core businesses and capitalizing on opportunities in mobile, cloud and virtualization.”
Competitors to Watch: Microsoft Corporation (NASDAQ:MSFT), Websense Inc. (NASDAQ:WBSN), Oracle Corporation (NASDAQ:ORCL), CA, Inc. (NASDAQ:CA), VMware, Inc. (NYSE:VMW), Intl. Business Machines Corp. (NYSE:IBM), Hewlett-Packard Company (NYSE:HPQ), Novell, Inc. (NASDAQ:NOVL), Guidance Software, Inc. (NASDAQ:GUID), and Intel Corporation (NASDAQ:INTC)
Stock Performance: Shares of SYMC are down 11 cents after hours to $19.30 per share from the previous close.