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May 12, 2009

Symantec in the red in Q4 and year

Security and compliance revenue fell 12.6% to $369.6m

By CBR Staff Writer

Security and storage software provider Symantec has reported a net loss of $249.4m for the fourth quarter 2009, compared to net income of $186.4m in the year-ago quarter, on revenue down 4.7% at $1.46 billion.

It made an operating loss of $192.4m compared to a profit of $213.4m last year. The diluted loss per share was $0.3 compared to diluted EPS of $0.22 in the same quarter last year.

The company said security and compliance revenue fell 12.6% to $369.6m, while storage and server management decreased 3.9% to $538.9m. Consumer revenue declined 3.9% to $430.9m, while services revenue grew 20.6% to $127.9m and revenue from other declined 87% to $113m.

Geographically, Americas revenue increased marginally to $804.9m, EMEA revenue fell 14.4% to $445.3m, and Asia Pacific/Japan revenue was down 1.2% to $217m.

For the fiscal year, it reported a net loss of $6.7 billion, compared to net income of $463.8m in the year-ago quarter, on revenue up 4.7% at $6.14 billion.

For the first quarter 2010 it expects revenue between $1.44 billion and $1.5 billion and diluted EPS between $0.09 and $0.11. GAAP deferred revenue is expected to be in the range of $2.84 billion to $2.94 billion.

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