Profiting from long-term tech trends

Article Excerpt

SYMANTEC CORP. $16.55 (Nasdaq symbol SYMC; TSINetwork Rating: Average) (1-408-517-8000; www.symantec.com; Shares outstanding: 751.0 million; Market cap: $12.4 billion; No dividends paid) makes computer-security software, including the popular Norton antivirus program. It also sells products and services for email filtering, data backup and other business-related uses. In addition, Symantec offers data-archiving software that helps its clients meet increasingly strict regulatory and compliance standards. In the three months ended September 30, 2011, Symantec’s earnings rose 33.8%, to $182 million from $136 million a year earlier. Earnings per share jumped 41.2%, to $0.24 from $0.17, on fewer shares outstanding. If you exclude unusual items, mainly asset writedowns and restructuring costs, earnings per share would have risen 14.7%, to $0.39 from $0.34. That matched the consensus earnings estimate. Sales rose 13.6%, to $1.7 billion from $1.5 billion. The company gets 52% of its sales from overseas. If you disregard the positive impact of exchange rates, sales would have risen 9% in the latest quarter. Concerns about…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.