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."

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.