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Symantec celebrates record sales in toxic security environment

Microscope contributor

Symantec today reported record results for its first quarter of fiscal year 2012, ended 1 July, with revenue of $1.65bn, up 15% year-over-year and GAAP net income of $172m compared with net income of $161m this time last year, writes Linda Endersby.

"The current threat landscape continues to be toxic and targeted. In addition, information is growing at unprecedented rates." commented Enrique Salem, president and CEO, Symantec.

"As a result, customers increasingly understand the value of our unique portfolio and are expanding their commitment to Symantec.  For the fourth consecutive quarter, we exceeded all of our key financial metrics."

The security specialist saw growth across all segments with the exception of Services, which dropped 20% to just 4% of sales. Its Consumer business accounted for 32% of sales, up 11%, Security and Compliance was 28%, up 31%, while Storage and Server Management accounted for 36%, up 14%. EMEA sales accounted for 29% of Symantec's business. 

James Beer, executive vice president and CFO, Symantec, commented: "Our record results were driven by strength in backup, data loss prevention and consumer as well as ongoing stability in the storage and availability management business. In addition, our authentication business once again exceeded expectations and delivered its fourth consecutive quarter of better than expected results."

In acquisitions, the VeriSign security business performed better than expected generating revenue of $74m.

Looking forward, Salem continued: "We are capitalizing on new growth opportunities in cloud, mobile and virtualization and will continue to deliver new solutions to help both consumers and enterprises securely access and use information across multiple devices and platforms."

For the second quarter of fiscal year 2012, ending Sept. 30, 2011, revenue is estimated between $1.655 billion and $1.675 billion, up 12 to 13 percent year-over-year as reported.


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