Symantec Posts 41 Percent Sales Gain

The Cupertino, Calif.-based security heavyweight reported revenue of $695 million for the quarter ended Dec. 31, compared to revenue of $494 million for the same quarter last year.

Net income for the quarter was $164 million, or 22 cents per share, a 48 percent increase compared to net income of $111 million, or 16 cents per share, for the same quarter last year. Net income met consensus estimates of $665 million, or 22 cents per share from Thomson/First Call.

Symantec Chairman and CEO John Thompson said growth was strong across all business segments at the vendor, which sells a variety of security products, including anti-virus software and intrusion prevention solutions. Symantec is in the midst of acquiring storage and data-management software vendor Veritas, a deal that is expected to be finalized in the second calendar quarter.

"All business segments had strong double-digit growth as customers continue to turn to Symantec to manage the integrity of their information assets, Thompson said in a press statement. "Solid online business, a record number of large enterprise transactions, both in size and number, and incredible international performance underpinned our success in the quarter."

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Looking forward to Symantec's fourth quarter, ending April 1, the company said it expects revenue between $690 million and $710 million, with earnings per share of 23 cents.

Symantec stock closed Wednesday trading at $24.91 per share.