Storage jump helps Symantec boost revenue

Symantec reported a 16 percent jump in revenue, to US$1.66 billion, for its most recent quarter.

Led by strong sales in its storage and server management group, Symantec on Wednesday reported a 16 percent jump in revenue for its first quarter of fiscal 2009.

"We had strength across the board. Each of our business units posted strong double-digit growth," said Symantec CEO John Thompson in an interview shortly after the results were announced. "I was quite pleased with how the team executed."

Excluding compensation and restructuring charges, revenue for the quarter, ended July 4, was US$1.66 billion, and earnings were $0.40 per share, a sizeable jump from $0.29 cents per share in the same quarter last year.

The results beat the expectations of financial analysts, who had forecast revenue of US$1.58 billion and earnings per share of $0.35 per share, according to Thomson Financial.

It's the latest in a string of good quarters for Symantec, whose mix of consumer and enterprise storage and security products offer the company "a degree of insulation" from the weakening economy, Thompson said. Symantec bought storage software vendor Veritas in 2005.

"I think there is a ton of caution from some [customers] for sure, and we cannot be unmindful of that," he said. "But by the same token we have products that we consider must-have products."

Buoyed by a weak U.S. dollar, international sales now represent 52 percent of Symantec's business, growing 19 percent year-over-year. Symantec's Europe, Middle East and Africa, and Asia Pacific groups grew fastest during the period.

Thompson expects that piece of the pie to keep growing. "Ideally, I'd love to see the company get to the point where international revenues represent 60 percent or greater of total revenue," he said.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Robert McMillan

Computerworld
Show Comments

Cool Tech

Toys for Boys

Family Friendly

Stocking Stuffer

SmartLens - Clip on Phone Camera Lens Set of 3

Learn more >

Christmas Gift Guide

Click for more ›

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Michael Hargreaves

Microsoft Office 365/Dell XPS 15 2-in-1

I’d recommend a Dell XPS 15 2-in-1 and the new Windows 10 to anyone who needs to get serious work done (before you kick back on your couch with your favourite Netflix show.)

Maryellen Rose George

Brother PT-P750W

It’s useful for office tasks as well as pragmatic labelling of equipment and storage – just don’t get too excited and label everything in sight!

Cathy Giles

Brother MFC-L8900CDW

The Brother MFC-L8900CDW is an absolute stand out. I struggle to fault it.

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?