View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
January 24, 1997updated 05 Sep 2016 12:42pm

SYMANTEC LOOKS FOR STRONG YEAR-END NEXT QUARTER

By CBR Staff Writer

Symantec Corp president and CEO Gordon Eubanks put the company’s third quarter modest profits and revenue growth down to pent up demand for upgraded products released this quarter and late last quarter, by which he presumably meant a lack of sales until very late on so we should expect to see a bumper fourth quarter. The Cupertino, California development tools and anti-virus king turned in third quarter profits of $13.9m, against losses last time of $36.8m, which included a $37.2m restructuring hit for the Delrina acquisition – now sold on, on revenues that rose 12% to $124.1m. the company has improved its high gross margins by cutting research and development and operating expenses, and launched products including Visual Cafe Pro and Visual Page Java development tools, ACT! 3.0 and WinFax Pro 7.5 in the communications arenas and Norton Internet Email gateway and CrashGuard utilities. The company also said it’s performance over the Christmas season had improved in Europe, which seems to have alluded many of its fellow software companies recently. Net profits for the nine months to December 31 were $17.8m, after a $9.8m restructuring hit, against $47.7m losses the previous year, which included the same $37.2m charge as above, on revenues that were up 4% to $342.5m.

Content from our partners
GenAI cybersecurity: "A super-human analyst, with a brain the size of a planet."
Cloud, AI, and cyber security – highlights from DTX Manchester
Infosecurity Europe 2024: Rethink the power of infosecurity

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU