Symantec Declares China Deal a Success
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Symantec says Chinese customers accepted its compensation for an upgrade glitch, but won't release numbers.
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With strong international sales and growth in its services business, Symantec reported earnings Wednesday that beat analyst expectations.Excluding charges, revenue at the security and storage company grew 15 percent year over year, to $1.53 billion for the period ended Dec 28. Analysts had been expecting revenue of $1.45 billion, according to a consensus estimate from Thomson Financial. Earnings were $0.33 per share, ahead of the analyst estimate of $0.28 per share.Symantec&#39;s international revenue -- which represents more than half of the company&#39;s business -- grew by 21 percent year over year, Symantec said. The Europe, Middle East, and Africa region was the fastest-growing with revenues up 26 percent from the previous year. Revenue in Asia grew by 19 percent, the company said.Service sales totalled just 6 percent of Symantec&#39;s revenue, but they grew by 40 percent from the previous year.The company&#39;s consumer and enterprise security businesses grew by just 8 percent and 9 percent, respectively. Symantec&#39;s data center management group saw sales jump 11 percent over the same period.Symantec raised guidance for its full fiscal year 2008, which ends March 28. It now expects revenue to be in the range of $5.90 billion to $5.94 billion, with earnings per share between $1.24 and $1.26. Analysts had been expecting annual revenue of around $5.79 billion with earnings per share at $1.16, according to Thomson.The company&#39;s shares leapt more than 7 percent on the results in after-hours trading, reaching $16.40 late Wednesday afternoon.
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Computer security giant Symantec Corp. is buying storage and backup program maker Veritas Software Corp. in a &#36;13.5 billion deal that will create the world's fourth largest software company.
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The ten-year deal is a major win for IBM&#39;s young Engineering &amp; Technical Services unit. By Paul McDougall. Aerospace giant Honeywell International Inc.
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SHENZHEN, China  - More than $500 million worth of  pirated software, including counterfeit Microsoft and Symantec  products, has been seized in a long-running joint probe by  Chinese police and the U.S. Federal Bureau of Investigation,  officials from both countries said on Tuesday.
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NEW YORK/SAN FRANCISCO  - Symantec Corp. SYMC.O,  the top global security software maker, on Thursday said it  will buy data management software company Veritas Software  Corp. VRTS.O for $13.5 billion, expanding into the data  storage and recovery business.
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Symantec Corp. , the biggest global security software maker, on Wednesday posted a 48 percent rise in third-quarter profit, driven by strong sales that were aided by a weak dollar.
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Computer security giant Symantec said Thursday it will buy storage program maker Veritas Software for US$13.5 billion in one of the world&#39;s largest software company mergers.
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Norton Antivirus software maker Symantec merges with Veritas Software in a $13bn deal.
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KUALA LUMPUR: Symantec Malaysia recently announced the availability of the latest version of its system repair, antivirus and security products - Norton SystemWorks 2005, AntiVirus 2005, Personal Firewall 2005 and AntiSpam 2005.
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Symantec Corp  reported an increase in quarterly profit on Wednesday, boosted by strong overseas sales, and forecast current-quarter results above Wall Street estimates, sending its shares up 9 percent.
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DECEMBER 16, 2004 (IDG NEWS SERVICE) - Security company Symantec Corp.&#39;s acquisition of Veritas Software Corp. could benefit customers and shareholders of both companies, but details of the $13.5 billion deal
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The deal is a dramatic sign of the ongoing transformation of the still nominally communist People's Republic of China into an increasingly outward-looking nation integrating itself into the world economy.-The Washington Post
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Symantec, a leader in security software, will acquire Veritas, a maker of data storage programs, to create the world's fourth-largest software company.
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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.
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Computer Associates has signed an agreement to purchase Netegrity, a provider of security software, in a deal valued at approximately $430 million.
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Computer security giant Symantec Corp. is buying storage and backup program maker Veritas Software Corp. to create the world&#39;s fourth largest software company.