Security and storage software provider Symantec has reported a 26% increase in net income to $150m for the second quarter 2010, compared to $126m in the same quarter last year. Revenue was down 3% at $1.5bn. Skip related content
Operating income increased 18% to $257m compared to $217m last year. Diluted EPS increased 20% to $0.18 compared to $0.15 in the same quarter last year. Cash flow from operations was $226m.
The company said security and compliance revenue fell 3% to $345m, while storage and server management decreased 9% to $563m. Consumer revenue increased 6% to $463m, while services revenue declined 1% to $103m. Geographically, Americas revenue declined 4% to $791m, EMEA revenue fell 5% to $457m, and Asia Pacific/Japan revenue increased 5% to $226m.
During the quarter, Symantec won $18.6m in damages from V-Micro and Higher Model Computer, which were found guilty of selling counterfeits of the company’s Norton SystemWorks, Norton AntiVirus, Norton Ghost, and pcAnywhere products.
Enrique Salem, president and chief executive at Symantec, said: "Execution against our key priorities in a tight spending environment enabled us to achieve solid results. In particular, we were pleased with the strength in the consumer segment and with the initial progress in SMB security. We are encouraged by the signs of stabilization in the markets."
For the third quarter 2010 it expects revenue between $1.48bn and $1.51bn and diluted EPS between $0.23 and $0.24. GAAP deferred revenue is expected to be in the range of $2.99bn to $3.05bn.
