CUPERTINO, Calif. - July 19, 2000 - Symantec Corp. (Nasdaq: SYMC), a world leader in Internet security technology, today announced the sixth consecutive quarter of record revenues and earnings. Strong sales in the enterprise market and continued international growth resulted in net revenue of $191.4 million for the first fiscal quarter 2001, ended June 30, 2000. This represents an increase of 18 percent, on a pro-forma basis, over the same quarter a year ago.
Earnings per share before the amortization of goodwill and one-time charges for the first quarter was $0.67, 43 percent higher than the same quarter last year. Net income before the amortization of goodwill and one-time charges for the first quarter was $43 million, 57 percent higher than the June quarter last year. All figures exclude the results of operations from the company's divestiture of the Visual Café and ACT! product lines.
"Our focus on enterprise customers and our success in international markets resulted in a stronger overall portfolio and a better and more sustainable revenue balance within the company," said John W. Thompson, Symantec chairman, president and CEO. "In addition, we made significant progress in our service provider strategy this quarter, working with a number of key partners worldwide. The solutions we are providing these partners reinforce the scalability of our Internet security technologies and continue to open doors to new markets and new customers."
Enterprise revenue for the quarter grew to 50 percent of Symantec's revenue mix and increased 28 percent from the June quarter a year ago. Consumer revenue grew nine percent from the same quarter a year ago.
In the June 2000 quarter, international revenue represented 44 percent of total revenue and increased 27 percent from the June quarter a year ago. Driven by continued strong performance in the enterprise license business, Symantec's Europe, Middle East and Africa (EMEA) region grew 24 percent from the June quarter a year ago and accounts for 26 percent of total revenue. Symantec's Japan region grew at 35 percent and accounts for nine percent of total revenue. Revenue from the Latin American region grew at 108 percent and represents three percent of total revenue.
Symantec is the world leader in providing solutions to help individuals and enterprises assure the security, availability, and integrity of their information. Headquartered in Cupertino, Calif., Symantec has operations in more than 40 countries. More information is available at www.symantec.com.
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FORWARD LOOKING STATEMENT: This press release contains forward-looking statements. There are certain important factors that could cause Symantec's future development efforts to differ materially from those anticipated by some of the statements made above. Among these are the anticipation of the growth of certain market segments, the positioning of Symantec's products in those segments, the competitive environment in the software industry, dependence on other products, changes to operating systems and product strategy by vendors of operating systems, new security threats and the importance of new Symantec products. Additional information concerning those and other factors is contained in the "Risk Factors" section of the company's annual report on Form 10-K for the fiscal year ended March 31, 2000.