CUPERTINO, Calif. - Jan. 17, 2001 – Symantec Corp. (Nasdaq: SYMC), a world leader in Internet security technology, today announced the ninth consecutive quarter of record revenues and earnings. Strong sales in both the enterprise and the consumer markets contributed to net revenue of $219.3 million for the third fiscal quarter 2001, ended Dec. 29, 2000. The reported results include operating results from AXENT Technologies since the acquisition date of Dec. 18, 2000. Net revenue increased 18 percent over the same quarter a year ago. Individually, Symantec posted revenues of $211.4 million for the quarter and AXENT contributed $7.9 million of the quarter's revenue.
Earnings per share before all acquisition related amortization and one-time charges for the third quarter was $0.78, an increase of 39 percent from the December 1999 earnings per share of $0.56. Net income before acquisition related amortization and one-time charges for the third quarter was $51.4 million, 45 percent higher than the December quarter last year of $35.4 million. All figures exclude the results of operations from the company's divestiture of the Visual Café and ACT! product lines.
"We are pleased with the strong growth in our enterprise business," said John W. Thompson, Symantec chairman, president and CEO. "We are confident that Internet security will be one of the top priorities for consumers and enterprises alike in the coming year. With the addition of AXENT, Symantec offers a broad line of industry-leading solutions and services that protect customers from all types of security threats."
Revenues from Symantec's enterprise security products accounted for 52 percent of total revenues in the December quarter, up from 45 percent last quarter. Enterprise revenues grew 30 percent from the same quarter last year. AXENT revenues contributed 2 points to the mix this quarter.
Worldwide consumer business accounted for 48 percent of revenues in the December quarter. Retail growth was 7 percent compared to a year ago.
International revenues represented 46 percent of total revenue in the December quarter. Overall, the European region grew 19 percent, the Japanese region grew 29 percent and the Asia Pacific region grew 36 percent compared to the December quarter a year ago.
Symantec has scheduled a conference call for 4:30 p.m. EST today to discuss fiscal third quarter results. Interested parties may access the conference call on the Internet at www.symantec.com/invest/. To listen to the live call, please go to the Web site at least 15 minutes early to register, download and install any necessary audio software. Dial-in numbers have also been set up. The number for domestic listeners is 1-800-946-0712, while international listeners can dial 719-457-2641. The passcode for both numbers is "Symantec".
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 that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the risk that the Symantec and AXENT businesses will not be integrated successfully; the costs related to the merger; the difficulty of developing and marketing products that compete effectively with others and other economic, business, competitive and/or regulatory factors affecting Symantec's business generally. Actual results may differ materially from those contained in the forward-looking statements in this press release. Additional information concerning these and other risk factors is contained in the Risk Factors sections of the Company's previously filed Form 10-K for the year ended March 31, 2000 and Form 10-Q for the quarter ended September 29, 2000.