Symantec Announces Record Fourth Quarter and Fiscal Year End 2001 Results
Strong Enterprise and International Sales Drive Growth
CUPERTINO, Calif. - April 25, 2001 - Symantec Corp. (Nasdaq: SYMC), a world leader in Internet security technology, today announced the 10th consecutive quarter of record revenues. Strong sales in the enterprise and international markets contributed to net revenue of $250.6 million for the fourth fiscal quarter 2001, ended March 30, 2001. Revenue increased 15 percent over the same quarter a year ago. Revenue for fiscal year 2001 was $944.2 million, an increase of 14 percent compared to revenue of $826.6 million for fiscal year 2000.
Earnings per share before all acquisition related amortization and one-time charges for the fourth quarter was $0.62, an increase of 13 percent from earnings per share of $0.55 in the same period a year ago. Earnings per share before all acquisition related amortization and one-time charges for the fiscal year 2001 was $2.35, an increase of 25 percent from the earnings per share of $1.88 for the fiscal year 2000. All figures include historical results of the acquired AXENT Technologies and exclude the results of operations from the company's divestiture of the Visual Café and ACT! product lines.
"Despite a slowing economy, enterprise and consumer customers put a priority on Internet security purchases," said John W. Thompson, Symantec chairman, president and CEO. "Our enterprise solutions continue to gain market share both here and abroad while our consumer products remain the market leader. Our transformation of Symantec into a global leader of enterprise solutions is on track with enterprise revenue growing 35 percent from the same period last year and accounting for 65 percent of total revenues."
International revenues represented 45 percent of total revenue in the March quarter and grew by 27 percent over the same quarter last year. Overall, the Asia Pacific region grew 50 percent, Japan grew by 24 percent and the European, Middle East and Africa market experienced a 24 percent growth compared to the March quarter a year ago.
- Symantec signed a record 17 deals worth more than $300,000 each during the quarter. Symantec products will now protect the Navy/Marine Corps, Reuters, Intel and Bell South as well as international customers including Polish Bank Przemys_owo-Handlowy (BPH), Russian Railway Company October Railways and Planet Internet, Holland's largest Internet Service Provider.
- Symantec's vulnerability management solutions revenue grew 51 percent, intrusion detection solutions grew 21 percent and enterprise anti-virus products enjoyed a robust 60 percent growth over the same quarter last year.
- Symantec updated its award winning enterprise administration tool pcAnywhere with the release of version 10.0. Symantec also released the latest version of Ghost and Norton AntiVirus for Lotus Notes/Domino.
- Symantec released CarrierScan Server 2.1 for Network Appliance, which is the first product to protect, both cache and filer gateway solutions.
- Symantec released the Symantec AntiVirus for the Palm OS. Also released this quarter, Norton AntiVirus 2001 Professional Edition, Norton Internet Security 3.0 and Norton Personal Firewall 3.0.
- More than three million people around the world have turned to Symantec's free, Web-based service, Symantec Security Check, to identify and address vulnerabilities in their PCs and Macintosh systems.
- Symantec became one of the founding members of the Information Technology Information Sharing and Analysis Center (IT-SAC), an organization designed to enhance the availability, confidentiality and integrity of networked information services. Symantec's Rob Clyde will serve on the organization's board of directors.
- Symantec products continue to receive awards and recognition. Symantec's PowerVPN won an InfoWorld Business Impact award for its power, flexibility and ease of use. Symantec's firewall appliance won product of the year from Network Magazine. Symantec's Norton AntiVirus received PC Magazine's coveted "Best of 2000" award. Smart Business named Symantec's Norton AntiVirus as the "Best of the Best" and "Editor's Pick." Symantec's Norton AntiVirus received Information Security Magazine's Security Excellence Award.
Symantec has scheduled a conference call for 4:30 p.m. EDT today to discuss fiscal fourth 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 1-888-569-5033, while international listeners can dial 719-457-2653. The passcode for both numbers is "Symantec."
Consolidated Financial Statements
Symantec, the Symantec logo, AXENT, AXENT Technologies, and the AXENT logo are trademarks or registered trademarks, in the United States and certain other countries, of Symantec Corporation or its subsidiaries. Additional company and product names may be trademarks or registered trademarks of the individual companies and are respectfully acknowledged.
Symantec, a world leader in Internet security technology, provides a broad range of content and network security solutions to individuals and enterprises. The company is a leading provider of virus protection, vulnerability assessment, intrusion prevention, Internet content and e-mail filtering, remote management technologies and security services to enterprises around the world. Symantec's Norton brand of consumer security products leads the market in worldwide retail sales and industry awards. Headquartered in Cupertino, Calif., Symantec has worldwide operations in 36 countries. For more information, please visit our Web site at www.symantec.com.
FORWARD LOOKING STATEMENT: This press release contains forward-looking statements, including statements regarding future technology and products, 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, new security threats, 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 fiscal year ended March 30, 2000.
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