Symantec Releases Q3 Results

CUPERTINO, Calif. -- Symantec Corp. (Nasdaq: SYMC) today reported the results of its third quarter of fiscal year 2008, ended Dec.28, 2007. GAAP revenue for the quarter was $1.52 billion and non-GAAP revenue was $1.53 billion. Non-GAAP revenue grew 15 percent versus the December 2006 period of $1.33 billion.

GAAP deferred revenue as of Dec. 28, 2007 was $2.88 billion, up 12 percent compared to $2.56 billion on Dec. 29, 2006. Non-GAAP deferred revenue as of Dec. 28, 2007 reached $2.9 billion, up 12 percent compared to $2.58 billion on Dec. 29, 2006.

Cash flow from operating activities for the December 2007 quarter was $462 million, compared to $454 million for the December 2006 quarter.

GAAP Results: GAAP net income for the December 2007 quarter was $132 million, up 13 percent compared to $117 million in the December 2006 quarter. Diluted earnings per share of $0.15 was up 25 percent compared to$0.12 for the same quarter last year.

Non-GAAP Results: Non-GAAP net income for the December 2007 quarter was $292 million, up 16 percent compared to $251 million for the same quarter last year. Non-GAAP diluted earnings per share were $0.33, up 27 percent compared to $0.26 for the same quarter last year. For a detailed reconciliation of our GAAP to non-GAAP results, please refer to the condensed consolidated financial statements below.

“The team’s continued focus on operational improvements and product quality produced great results in the December quarter,” said John W. Thompson, chairman and chief executive officer, Symantec. “I’m very pleased with the strength of our business and our outlook for the March quarter.”

Symantec Corp. (Nasdaq: SYMC)