Symantec Hits Record Earnings

    July 29, 2005
    WebProNews Staff

First quarter number for the security solutions firm showed a record 26 percent increase in revenue.

Cupertino-based Symantec, which recently purchased backup software maker Veritas, reported revenue of $700 million USD for its recently ended first quarter, according to a press release.

Earnings per share was 27 cents on net income of $199 million. 51 percent of the company’s revenue came from international business. All regions of the world showed double-digit total revenue growth.

The company broke out Veritas’ earnings separately, as the company was not acquired until after Symantec’s first quarter ended in June. Veritas has revenue of $529 million for the quarter that ended in June.

“Symantec’s success in the quarter was paralleled by equally strong performance by VERITAS,” said John W. Thompson, Symantec chairman and chief executive officer, in the release. “Our results demonstrate the team’s success in balancing merger-related activities with a continued focus on execution.”

David Utter is a staff writer for WebProNews covering technology and business. Email him here.