Symantec earnings show lackluster enterprise growth
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Even after the Veritas backup acquisition, Symantec's consumer division remains the company's fastest growing product line. Symantec Chairman and CEO John Thompson said the company's North American business had missed expectations and he offered cautious guidance for the next three months.
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InfoWorld - Two years after itsÂ acquisition of enterprise software vendor Veritas, Symantec's consumer division remains the company's fastest-growing product line.
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Despite lots of communication with investors, the Symantec-Veritas combo is still generating unease.
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Symantec Corp.'s reported interest in acquiring Veritas Software Corp. for more than $13 billion would represent the computer security giant's biggest step yet beyond its core businesses of defending against viruses and thwarting hackers. Investors weren't impressed, though, and Symantec's shares plunged 16 percent.
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Computer-security software maker Symantec today plans to unveil a new strategy for offering large businesses more services along with software for managing their computer networks.
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(InfoWorld) - Symantec Corp. Wednesday released a beta of its new enterprise security product, formerly code-named Hamlet, that melds technology from several of the company's acquisitions over the last few years. The product, Symantec Endpoint Protection 11.0, replaces the previous enterprise version, Symantec AntiVirus. It's a public beta, and the final version will be released around September. Symantec has decided not to charge more for the new product. "We believe the level of protection you should get for your money should be higher," said Mathew Lodge, director of product marketing for Europe, the Middle East and Africa. The EndPoint Protection suite is the culmination of a Symantec buying spree that included acquisitions of Sygate, Whole Security and Veritas. "We've spent a lot of money buying other companies," Lodge said. "We've integrated that technology into the new release." Endpoint Protection includes technology that looks at how applications behave, a way to detect if a program is doing something suspicious. For example, some malicious software programs try to download other programs from the Internet, which often is a bad sign. The suite includes other security features such as antivirus and antispyware capabilities, a firewall and host and network-based intrusion prevention technology. Another new feature is application control, which allows administrators to control what programs users can run on their machines. Also new is Symantec Network Access Control 11.0, an optional module that can be incorporated into Endpoint Protection. The feature determines whether or not to allow a mobile device to connect to the network depending on if it is a security risk, such as if the device doesnât have up-to-date patches. The module accommodates both Cisco's and Microsoft's protocols for network access control, Lodge said. It can also simply authenticate and check devices when they connect to a network and make a DHCP (Dynamic Host Configuration Protocol) request, Lodge said. Symantec also announced a new program called Storage United, which is designed to help companies better organize their data storage even if they are using different OSes and storage hardware platforms. The program revolves around three themes: next-generation data protection, storage management and information management, said Kevin Bailey, senior product marketing manager. Prominent in the strategy will be use of NetBackup, a storage platform that came from Symantec's acquisition of Veritas, Bailey said. REFERENCES: Symantec slips, but closes in on AV product delivery, May 2, 2007Symantec mobile security client delayed, May 30, 2007
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The virtualization specialist reports a sharp rise in earnings, but its sales fall short of what some analysts had been expecting. Shares fell more than 25 percent in after-hours trading.
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Despite its much-needed product, the company's growth potential is limited.
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The network equipment maker reported that its quarterly net income grew 7.2 percent amid growing concern that economic weakness could affect technology spending.
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The company's IPO was underwhelming, but the long-term prospects look promising.
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There&#39;s good news and bad news on the security front. Internet security company Symantec Corp. on Monday released its Internet Security Threat Report, which provides a six-month snapshot
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The daily volume of Internet attacks dropped off in the first half of this year, and the rate at which new vulnerabilities are being reported appears to have hit a plateau, according to Symantec Corp.
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THE DEAL: Symantec Corp., best known for its Norton-branded software that fights computer viruses, is heading in a new direction with a $13.5 billion acquisition of data storage and backup specialist Veritas Software Corp.
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Business Objects reported a 19 percent rise in revenue for the third quarter, driven by services, but earnings were dragged down by a shortfall in license revenue, recent acquisitions and legal costs.While the income figures are broadly in line with preliminary results announced on Oct. 7, the company had expected its earnings to be better. The results come about two weeks after&#160;SAP announced plans to acquire Business Objects&#160;for $6.7 billion.Earnings for the quarter fell to $6.4 million, or $0.07 per share, from $19.6 million, or $0.21 per share, a year earlier, Business Objects said. It had predicted earnings of $0.16 to $0.20 per share.The earnings reported include a charge of around $7 million, equivalent to $0.05 per share, to settle litigation with Decision Warehouse. Business Objects had previously honored Decision Warehouse as its top distributor in Latin America: the company now resells products from&#160;Hyperion, which was recently bought by Oracle, and&#160;BEA Systems, which Oracle is trying to buy.Revenue for the quarter, which ended Sept. 30, was $369 million, up 19 percent compared to a year earlier. The growth was driven by revenue from services such as product maintenance, up 27 percent, and consulting and training, up 34 percent year on year.Growth in license revenue lagged, up just 6 percent compared to a year earlier, although license revenue from all product lines continued to grow, the company said.The&#160;acquisition of Cartesis, completed on June 1, and of&#160;Inxight Software, completed on July 3, added around $21 million in revenue for the quarter.Business Objects also profited from exchange rate fluctuations: while total revenue grew 19 percent year on year, at constant currency rates it grew just 15 percent, while license revenue grew 2 percent at constant currency rates.Business Objects warned that there&#39;s more uncertainty ahead -- and not just because of SAP&#39;s bid for the company, announced Oct. 7.The unexpected shortfall in third-quarter licensing revenue, added to uncertainty about customers&#39; future spending ahead of the merger, prompted the company to withdraw previously issued financial guidance.
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The maker of corporate data storage equipment, forecast better-than-expected 2008 revenue, but its shares fell after the VMware unit missed growth estimates.
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Symantec Corp. is still working out the kinks resulting from its decision to collapse two instances of Oracle Corp. E-Business Suite 11i into one, a move that hit the company's bottom line in its last quarter.