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October 28, 2010

Symantec Q2 revenue increases marginally to $1.5bn

Expects net revenue to range between $1.57bn and $1.59bn for Q3 2011

By CBR Staff Writer

Symantec has reported total net revenue of $1.5bn for the second quarter of fiscal 2011, an increase of 2% at constant currency, compared to $1.47bn for the same period last year.

Revenue from content, subscription, and maintenance grew 2% year-over-year to $1.3bn, while license revenue declined 5% to $210m.

The company posted an operating income of $218m for the second quarter of 2011, a decline of 15% compared to $257m for the same period last year.

For the second quarter ended 1 October 2010, the company posted net income of $136m, a drop of 12% compared to a net income of $155m for the same quarter a year ago.

Net income per diluted share decreased by 39% to $0.17 from $0.19 per share for year ago quarter.

Geographically, Americas revenue grew 3% year-over-year to $815m in the second quarter of 2011, and Asia Pacific and Japan revenue increased 11% to $251m while EMEA revenue declined by 9% to $414m.

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Symantec president and CEO Enrique Salem said the company’s making good progress integrating the VeriSign security business, PGP and GuardianEdge into the Symantec portfolio and all three acquisitions performed better than expected in the quarter.

For the third quarter of fiscal year 2011, Symantec anticipates net revenue to be between $1.57bn and $1.59bn and diluted earnings per share to range between $0.23 and $0.24.

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