NEW YORK (Thomson Financial) - Symantec Corp. Wednesday reported fiscal
fourth-quarter adjusted, or non-GAAP, earnings of $309 million, or 36 cents a
share, besting the mean estimate of analysts polled by Thomson Reuters for a
profit of 34 cents a share in the March period.
In the same period a year earlier, the Cupertino, Calif., provider of
security and storage software posted non-GAAP (generally accepted accounting
principles) earnings of $227 million, or 24 cents a share.
Revenue totaled $1.54 billion for the latest three-month period, up from
$1.36 billion last year, and slightly ahead of the average analysts' view of
$1.53 billion.
For the June quarter, Symantec sees adjusted earnings of 34 to 36 cents a
share on non-GAAP revenue of $1.555 billion to $1.595 billion. It expects cash
flow from operations for the June quarter to exceed its year-ago equivalent
total of $351 million.
Wall Street's current consensus estimate is for earnings of 31 cents a share
in the June quarter on revenue of $1.5 billion.
The stock closed the session at $17.22 and was changing hands at $18 in
recent afterhours action.
Michael Baron
mb
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