Thu, Feb. 5, 4:05 PM
Mon, Jan. 5, 1:37 PM
- Symantec's (SYMC -0.8%) FQ3 report will be posted after the close on Thursday, February 5. A CC will be held at 5PM ET (webcast on IR site).
- Consensus is for revenue of $1.67B (-1.8% Y/Y), and EPS of $0.49. Symantec, which remains set to split its security and storage software ops by year's end, provided below-consensus FQ3 and FY15 revenue guidance in November. EPS guidance was a little healthier.
Nov. 6, 2014, 3:42 PM
- "As a result of restructuring, we expect headcount reductions of approximately 10%," Symantec (SYMC -0.5%) disclosed on its FQ2 CC (transcript). The company expects to record $100M-$120M in restructuring charges, about half of which will be recorded in FY15 (ends March '15).
- Symantec also expects to record "separation costs" of $80M-$100M over the next five quarters related to its planned breakup.
- The company already carried out a string of job cuts under the departed Steve Bennett. Opex was down 3% Y/Y in FQ2 to $894M.
- Shares are off slightly post-earnings, after having gone into the report near a 52-week high of $25.35. Ahead of the breakup, Symantec's security software/services units saw revenue collectively fall 4% Y/Y in FQ2 to $996M, and its storage software/services unit saw revenue rise 3% to $621M.
- FQ2 results, guidance, PR
Nov. 5, 2014, 5:36 PM
Nov. 5, 2014, 4:03 PM
Aug. 6, 2014, 4:21 PM
- Though it beat FQ1 estimates, Symantec (NASDAQ:SYMC) is guiding for FQ2 revenue of $1.6B-$1.64B and EPS of $0.40-$0.44, unfavorable to a consensus of $1.63B and $0.45. FY15 (ends March '15) guidance is for revenue of $6.63B-$6.77B and EPS of $1.84-$1.92, in-line with a consensus of $6.69B and $1.88.
- License revenue tumbled 15% Y/Y in FQ1 to $161M. Content, subscription & maintenance revenue rose 4% to $1.57B. Symantec's deferred revenue balance fell 4% to $3.71B.
- Information Security (enterprise security) revenue +3% Y/Y to $345M, user productivity/protection (PC/mobile security) +1% to $740M, information management (storage software) +1% to $650M. User productivity/protection made up a majority of segment op. profit ($270M out of $427M).
- Opex was 58.7% of revenue vs. 58.4% a year ago. $125M was spent on stock repurchases.
- SYMC +0.3% AH. FQ2 results, PR.
Aug. 6, 2014, 4:13 PM
May. 8, 2014, 4:15 PM
- Symantec (SYMC) expects FQ1 revenue of $1.65B-$1.69B and EPS of $0.41-$0.43 vs. a consensus of $1.64B and $0.43. FY15 guidance is for revenue of $6.63B-$$6.77B and EPS of $1.84-$1.92 vs. a consensus of $6.69B and $1.83.
- FQ4 segment data highlights ongoing share losses: User productivity/protection (PC/mobile security software, 43% of revenue) -6% Y/Y vs. -4% in FQ3. Information management (storage software, 38% of revenue) -7% vs. -6%, infomration security (enterprise security, 19% of revenue) -2% vs. -3%.
- Thanks to job cuts, opex fell to 56.4% of revenue from 58.7% a year ago. Gross margin fell 30 bps to 83.9%, and $125M was spent on buybacks.
- Symantec thinks it can achieve a 30% op. margin by FY15's fourth quarter, up from 27.3% in the last quarter.
- Expectations were fairly low after shares tumbled in response to Steve Bennett's firing.
- FQ4 results,.PR
May. 8, 2014, 4:06 PM
Jan. 30, 2014, 10:19 AM
- Though Symantec (SYMC -7%) beat FQ3 estimates, the company has guided for FQ4 revenue of $1.615B-$1.655B and EPS of $0.40-$0.42, below a consensus of $1.67B and $0.46.
- Like plenty of other tech companies, Symantec's Asia-Pac sales (17% of revenue) have come under pressure: They fell 12% Y/Y in FQ3. NSA fallout could be a factor. But Americas and EMEA sales were only comparatively better, declining 4% and 1% respectively.
- Symantec's User Productivity & Protection (PC/mobile security software, 42% of revenue) sales fell 4% Y/Y in FQ3 vs. 3% in FQ2. Information Security (enterprise security, 19% of revenue) sales fell 3% vs. 2%; Information Management (storage software) sales fell 6% vs. 5%. The numbers point to share loss against rivals such as McAfee (Intel), CommVault, and Veeam.
- Symantec's deferred revenue balance fell 6% Y/Y to $3.59B. FQ3 EPS got a boost from $125M in buybacks. It also benefited from a 14% Y/Y drop in opex to $1.02B, the result of job cuts.
- CC transcript
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Oct. 23, 2013, 4:52 PM
- Symantec (SYMC) expects FQ3 revenue of $1.63B-$1.67B (down from $1.79B a year ago) and EPS of $0.41-$0.43, below a consensus of $1.79B and $0.51.
- Moreover, FY14 (ends March '14) revenue is now expected to drop 3%-4% Y/Y; the consensus is for 0.5% growth.
- Symantec's endpoint (PC/mobile) security software sales (44% of revenue) fell 3% YY in FQ2 after dropping 1% in FQ1. Enterprise security software (19% of revenue) -2% Y/Y, a reversal from FQ1's +7%. Likewise, storage software (37% of revenue) sales fell 5% after rising 4% in FQ1.
- CEO Steve Bennett called FQ2 "a challenging quarter in [Symantec's] transition year," but doesn't give details in the PR about specific about demand issue. Symantec has carried out major job cuts this year, and is also facing tough competition from security startups,EMC's RSA unit, and fast-growing storage software vendors CommVault (CVLT) and Veeam.
- FQ2 EPS was lifted by $125M in buybacks. The deferred revenue balance stood at $3.5B at quarter's end, -3% Y/Y.
- SYMC -13.1% AH. FQ2 results, PR.
Oct. 23, 2013, 4:11 PM
Oct. 23, 2013, 12:10 AM
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Symantec Corp provides security, backup and availability solutions. Its products and services protect people and information in any environment, from the smallest mobile device, to the enterprise data center, to cloud-based systems.
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