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October 25, 2012

Symantec Q2 net revenue increases marginally

The company's net income rose 6% to $193m

By CBR Staff Writer

Computer security firm Symantec has reported a total net revenue of $1.69bn for the second quarter of fiscal year 2013 ended 28 September 2012, an increase of 1% from $1.68bn for the same period in 2011.

For the second quarter of 2012, the company’s net income rose by 6% to $193m, or $0.27 earnings per share, compared to $182m, or $0.24 earnings per share, for the corresponding period in the previous year.

Operating income was $305m for the quarter, compared to 285m for the same period in 2011.

Gross profit remained unchanged at $1.4bn in the second quarter of 2012, compared to the same period of 2011.

The storage and server management segment represented 35% of total revenue, while the security and compliance segment represented 30%.

Symantec executive vice president and chief financial officer James Beer said that the company delivered better than expected results and the company continues to make improvements to the performance of its businesses.

"We saw strength in enterprise security and backup as well as growth in consumer security," Beer said.

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For the third quarter of fiscal 2013, Symantec expects revenue of $1.72bn to $1.75bn, and diluted earnings per share between $0.17 and $0.19.

Earlier this month, Symantec had introduced its Endpoint Protection Small Business Edition 2013 that the company said will offer small- and medium-sized businesses (SMBs) with the choice of cloud-managed service and traditional on-premise management in a single endpoint protection product.

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