Symantec, Veritas Post Financials

On an earnings call with financial analysts, Symantec Chairman and CEO John Thompson said the two companies are still working with the Securities and Exchange Commission to finalize their joint shareholder proxy, a process that is taking much longer than expected. Still, Thompson said he hasn't given up on the idea of closing the merger during the current quarter.

Symantec's fourth-quarter numbers signaled a strengthening enterprise portfolio. Meanwhile, Veritas showed signs of weakness in the U.S. market.

For its first quarter, Veritas posted revenue of $559 million, compared with $486 million for the year-ago quarter. First-quarter net income was $105 million, up about 5 percent. But the Mountain View, Calif.-based storage management giant recorded a 1 percent drop in U.S. revenue to $295 million. Veritas CFO Ed Gillis said U.S. license revenue fell 17 percent in the quarter.

Symantec's Thompson underscored his company's enterprise momentum in its fourth fiscal quarter ended April 1, although consumer growth was actually stronger. The Cupertino, Calif.-based security giant recorded revenue of $713 million, up 28 percent from the year-earlier period.

Fourth-quarter GAAP net income was $120 million, compared with $117 million for the same quarter last year. On a regional basis, the Americas contributed 54 percent of the company's overall mix, up 31 percent for the quarter. For its 2005 fiscal year, Symantec posted a 38 percent increase in revenue to $2.6 billion. GAAP net income for the year was $536 million vs. $371 million the previous year.

Looking forward, Symantec said it anticipates revenue between $700 million and $720 million for its first fiscal quarter ending July 1. Gary Bloom, chairman, president and CEO of Veritas, said he expects Veritas revenue to be in the $500 million to $540 million range for its second quarter.