For the second quarter, NAI reported net income of $1.1m, down from $21.2m, on revenue of $216.6m, down from $232.9m in the year-ago quarter. For the six-month period to June 30, it reported a net loss of $2.5m, compared to net income of $36.9m, on revenue of $431.8m, down from $453.6m for the year-ago period. It ended the quarter with cash and marketable securities totaling $735m.
Looking forward, the Santa Clara, California-based vendor said it expects third-quarter revenue to be between $220m and $225m, and pro forma net earnings of $0.10 and $0.12 per share. For the fourth quarter, it expects revenue to be between $255m and $260m, and pro forma net earnings of $0.20 and $0.22 per share. Using the mid-point of these expectations, NAI expects full-year 2003 revenue of $911m and $0.54 for pro forma net earnings.
Network Associates delayed filing its restated financial results with regulators this year and has been the subject of probes by the US Securities and Exchange Commission and the US Justice Department.
Source: Computerwire
