Please wait while the page is being loaded Skip this advertisement >
Friday | 5 December, 2008
Storage jump helps Symantec boost revenue
Symantec reported a 16 percent jump in revenue, to US$1.66 billion, for its most recent quarter.
Robert McMillan 31/07/2008 08:09:01

Led by strong sales in its storage and server management group, Symantec on Wednesday reported a 16 percent jump in revenue for its first quarter of fiscal 2009.

"We had strength across the board. Each of our business units posted strong double-digit growth," said Symantec CEO John Thompson in an interview shortly after the results were announced. "I was quite pleased with how the team executed."

Excluding compensation and restructuring charges, revenue for the quarter, ended July 4, was US$1.66 billion, and earnings were $0.40 per share, a sizeable jump from $0.29 cents per share in the same quarter last year.

The results beat the expectations of financial analysts, who had forecast revenue of US$1.58 billion and earnings per share of $0.35 per share, according to Thomson Financial.

It's the latest in a string of good quarters for Symantec, whose mix of consumer and enterprise storage and security products offer the company "a degree of insulation" from the weakening economy, Thompson said. Symantec bought storage software vendor Veritas in 2005.

"I think there is a ton of caution from some [customers] for sure, and we cannot be unmindful of that," he said. "But by the same token we have products that we consider must-have products."

Buoyed by a weak U.S. dollar, international sales now represent 52 percent of Symantec's business, growing 19 percent year-over-year. Symantec's Europe, Middle East and Africa, and Asia Pacific groups grew fastest during the period.

Thompson expects that piece of the pie to keep growing. "Ideally, I'd love to see the company get to the point where international revenues represent 60 percent or greater of total revenue," he said.

Computerworld Buyer's Guide - Vendors Matched to this Article
Computerworld Buyer's Guide - Vendors Matched to this Article
Additional Resources
Executive Guides
Whitepapers
Zones
Zone logoZones provide focussed content from Computerworld and leading technology partners.
Newsletter Subscription
Sign up for our Computerworld newsletters!
RSS Feeds
Market Place

 

Smart SOA World Tour

Discover how SOA can create smarter outcomes for your business.

Attend and learn:

  • How SOA is helping leading companies to become more agile
  • Where you should be applying SOA processes in your company
  • The top SOA implementation mistakes to avoid

Click here for more information.
Whitepaper

Best Practice in Building an Integrated Information Management Strategy

Discover the business value that creating an integrated information platform can bring. Learn how to provide consistent, accurate information to all stakeholders within your business network. Integrate vital data from disparate sources and deliver a trusted information foundation. Read on to uncover the stepping-stones to your new information management strategy.

Enterprise IT Buyer's Guide
Find Technology Vendors Fast
 
Find vendors by name | Find by category
Sponsored Links