Symantec (SYMC) is expected to report Q4 earnings after the market close on Wednesday, May 11, with a conference call scheduled for 5:00 pm ET.
The consensus estimate is 36c for EPS and $1.60B for revenue, according to First Call. Guidance provided by management on its last earnings call was for Q4 EPS of 35c-36c on $1.585B-$1.605B in revenue.
Based on CLSA's checks and feedback from users and partners at the Vision conference in Las Vegas, the firm believes Symantec is well positioned to at least meet and possibly beat its revenue and non-GAAP EPS estimates of $1.64B and 37c. CLSA estimates a $4M positive impact of currency movement to revenue since the original guidance from management, and approximately a $24M positive impact to deferred revenues. CLSA's above-consensus revenue estimates reflect the positive impact from currency. Looking forward, CLSA is forecasting $1.530B and 35c for Q1 of FY12 vs. consensus of $1.55B and 36c. The firm thinks there is likely opportunity for management to guide modestly above consensus. CLSA thinks Symantec is positioned to show QoQ benefits from favorable trends in enterprise-security spending and an increasing contribution from the VeriSign security assets.