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Symantec Q4 hit by SME decline

Microscope contributor

Symantec has indicated that the security market might not be totally immune to recession, particularly on the SME side of the business.

A dip in small business sales was pointed to as the cause of a dip in non-GAAP Q4 revenues to $1.49bn for the three months ended 3 April.

The software security division also showed signs of strain with sales dropping by 14% to $370m.

In quotes given to Reuters, Symantec's chief financial officer James Beer said that the SME and mid sized market had slowed up and contributed to the declining revenues.

Symantec president and CEO Enrique Salem said that it had focused on driving down costs and hinted that it could consider expanding its operations.

“Moving forward our focus is on investments that will extend our leadership, improve product quality and integrate our solutions to help customers secure and manage their information,” he said.

Salem,who has not been in the CEO chair for that long, recently sent an open letter to the channel outlining its determination to work with resellers and improve its relationship with them.

The Symantec numbers cast a slight shadow over the recently upbeat numbers from the likes of Websense and CheckPoint.


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