Symantec Reports Third Quarter 2007 Results

Symantec Reports Third Quarter 2007 Results

Symantec Corp. (Nasdaq: SYMC) today reported results for the third quarter of fiscal year 2007, ended Dec. 29, 2006. GAAP revenue for the quarter was $1.313 billion and non-GAAP revenue was $1.324 billion. Non-GAAP revenue grew 6 percent over the comparable period a year ago.GAAP deferred revenue at the end of the December 2006 quarter was $2.46 billion. Non-GAAP deferred revenue at the end of the quarter reached $2.49 billion, growing 25 percent compared to the December 2005 quarter.

GAAP Results: GAAP net income for the fiscal third quarter was $114 million, compared to $91 million for the same quarter last year. Diluted earnings per share was $0.12 compared to $0.08 per share for the same quarter last year.

Non-GAAP Results: Non-GAAP net income for the fiscal third quarter was $248 million, compared to $282 million for the same quarter last year. Non-GAAP diluted earnings per share was $0.26 in both periods. For a detailed reconciliation of our GAAP to non-GAAP results, please refer to the attached consolidated financial statements.

“With a disappointing quarter behind us, we are moving to better align our costs with our new revenue expectations,” said John W. Thompson, Symantec chairman and chief executive officer. “I am confident that we have the right strategy in place; however, we must sharpen our execution.”

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