[ news_security_news ]
Symantec Reports Fourth Quarter Results
SecurityProNews
Staff Writer
2005-05-04
 Insider Reports RSS Feed
Symantec reported results for the fiscal fourth quarter and the fiscal year ended April 1, 2005.
Symantec posted revenue for the quarter of $713 million, a 28 percent increase compared to $556 million for the same quarter last year. Revenue for fiscal year 2005 was $2.6 billion, a 38 percent increase compared to $1.9 billion for fiscal year 2004.
GAAP Results: GAAP net income for the fiscal fourth quarter was $120 million, compared to $117 million for the same quarter last year. Earnings per share were $0.16, compared to earnings per share of $0.16 for the same quarter last year. For fiscal year 2005, Symantec reported net income of $536 million, compared to net income of $371 million for fiscal year 2004. Earnings per share were $0.74, compared to earnings per share of $0.54 for fiscal year 2004.
GAAP net income and EPS for the March quarter includes a one-time tax expense of $54 million or $0.07 per diluted share related to Symantec's repatriation of $625 million in cash of which $500 million was subject to the American Jobs Creation Act of 2004.
Non-GAAP Results: Non-GAAP net income for fiscal fourth quarter was $186 million, compared to $126 million for the same quarter last year. Non-GAAP earnings per share were $0.25, compared to earnings per share of $0.18 for the year-ago quarter. For fiscal year 2005, Symantec reported non-GAAP net income of $634 million, compared to $411 million in fiscal year 2004. Non-GAAP earnings per share for the year were $0.87, compared to earnings per share of $0.59 for fiscal year 2004.
Non-GAAP results, as outlined in the attached consolidated statements and related reconciliation, exclude amortization of acquisition-related intangibles, amortization of deferred stock-based compensation, acquired in-process research and development, restructuring charges, patent settlement charges, and integration planning expenses associated with the proposed VERITAS merger, as well as the related income tax benefits, and the one-time tax effect associated with the company's cash repatriation under the American Jobs Creation Act. See "Use of Non-GAAP Financial Information" below.
"Our team remains focused and continues to deliver outstanding results around the world," said John W. Thompson, Symantec chairman and chief executive officer. "Double-digit growth rates in all segments and all geographies underpinned the success of the quarter and the fiscal year."
About the Author:
SecurityProNews is a daily online and email publication focusing on internet security issues.
More news_security_news Articles
Insider Reports RSS Feed
|
|
iEntry 10th Anniversary
RSS
Archive
