MOUNTAIN VIEW, CA -- (Marketwired) -- 05/07/13 -- Symantec Corp. (NASDAQ: SYMC)
•Initiating cash dividend of $0.15 per share equivalent to a 2.5% dividend yield •Organic revenue growth in constant currency of 4% in Q4 and 3% in FY13 •Expansion of constant currency non-GAAP operating margin of 140 basis points in Q4 and 60 basis points in FY13 •FY13 content, maintenance, and subscription revenue growth of 5% in constant currency
Symantec Corp. (NASDAQ: SYMC) today reported the results of its fourth quarter and fiscal year 2013, ended March 29, 2013. GAAP revenue for the fiscal fourth quarter was $1.748 billion, up 4 percent year-over-year and up 5 percent after adjusting for currency. For the fiscal year, GAAP revenue was $6.906 billion, up 3 percent year-over-year and up 5 percent after adjusting for currency.
Click to Tweet: #SYMC posts record Q4 and FY revenue results: http://bit.ly/15nn9lo
"In a year of significant leadership changes and development of a new company strategy, the team remained focused on running the business to deliver better than expected results," said Steve Bennett, president and chief executive officer, Symantec. "Our focus on operational change and repositioning the business in fiscal year 2014 will set the foundation to drive better execution long-term. Never have I been more optimistic about the opportunity in front of us to make a difference for our employees, customers and shareholders."
"We achieved better than expected March quarter results driven by double digit growth in our backup business and continued strength in data loss prevention and our other information security products," said James Beer, executive vice president and chief financial officer, Symantec. "For the fiscal year 2013, we generated record revenue and deferred revenue, expanded non-GAAP operating margins by 60 basis points after adjusting for currency, and delivered double-digit non-GAAP earnings per share growth based on the success of our backup and information security businesses."
GAAP Results for the Fourth Quarter of Fiscal Year 2013
•GAAP operating margin was 14.4 percent compared with 11.4 percent for the same quarter last year. •GAAP net income was $188 million compared with net income of $559 million for the year-ago period. •GAAP diluted earnings per share were $0.26 compared with $0.76 for the year ago quarter. •GAAP deferred revenue as of March 29, 2013, was $4.017 billion compared with $3.973 billion as of March 30, 2012, up 1 percent year-over-year and up 3 percent after adjusting for currency. •Cash flow from operating activities was $612 million compared with $687 million for the year ago period.
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