Security software provider McAfee has reported a 25% decline in net income to $36.8m for the third quarter 2009, compared to $48.8m in the same quarter last year. Revenue increased 18% to $485.3m. Skip related content
Operating income fell 14% to $42.5m, while diluted EPS declined 27% to $0.23. Cash flow from operations increased 74% to $152m. Cash flow generated from operations was approximately $152m compared with $87m in the same quarter last year.
The company said corporate business revenue grew 25% to $308m, while consumer business revenue grew 8% to $177m. Geographically, North America revenue grew 25% to $273m, while international revenue grew 11% to $212m, with EMEA revenue up 4%, Asia Pacific up 42%, Japan up 16%, and Latin America up 20%.
During the quarter, McAfee acquired for $138m privately owned MX Logic, a provider of cloud-based e-mail and web security, email archiving and email continuity services. It also partnered with Adobe Systems to jointly deliver an integrated Data Loss Prevention and Enterprise Digital Rights Management solution to expand the reach of data protection beyond the enterprise boundaries.
For the nine-month period, McAfee reported a 6% decline in net income to $118.89m compared to a net income of $126.8m a year ago. Revenue increased 19% to $1.4bn.
Dave DeWalt, president and chief executive at McAfee, said: "We are pleased to report our record results for the third quarter of 2009. We made significant improvements across our key financial metrics, including non-GAAP operating margin growth of 310 basis points year-over-year."
Looking ahead to the fourth quarter, McAfee expects revenue between $505m and $525m and diluted EPS between $0.32 and $0.38.
