Symantec posts $464 mn net income for 2008

UPERTINO, CALIFORNIA: Symantec Corp. has reported a GAAP net income of $186 million for the fourth quarter ended March 28, 2008, as compared to $61 million posted for the same quarter previous year.

The company’s revenue stood at $1.540 billion for the same quarter.

For fiscal year 2008, Symantec reported net income of $464 million, compared to net income of $404 million for fiscal year 2007.

For the fiscal year 2008, the company’s GAAP revenue stood at $5.874 billion and operating margins were 10.3 per cent.

Diluted earnings per share were $0.52, up 27 per cent compared to earnings per share of $0.41 for fiscal year 2007.

John W. Thompson, chairman and chief executive officer, Symantec, said, “With the strongest product portfolio we’ve had in years and a solid pipeline, we are well positioned for a strong start and continued success in fiscal year 2009.”

Symantec for the quarter has signed 449 agreements worldwide versus 391 in the same period a year ago with a contract value of more than $300,000 each. In the March 2008 quarter, almost 80 percent of the large deals were multiple product deals.