– GAAP Revenue of $1.668 billion
– Non-GAAP Operating Margin of 26.1%
– Non-GAAP Earnings Per Share of $0.43
– GAAP Deferred Revenue of $3.745 billion
– Cash Flow from Operations of $340 million
Symantec Anuncia Cambio en Liderazgo Ejecutivo
Steve Bennett, quien encabezaba el consejo directivo de la compañía, fue nombrado como nuevo
Presidente y CEO de Symantec
MOUNTAIN VIEW, California – 25 de julio de 2012 – Symantec (Nasdaq: SYMC) anunció hoy que Enrique Salem, Presidente y CEO, ha dejado su cargo y el consejo directivo de la compañía designó a Steve Bennett, como nuevo Presidente y CEO de la compañía, quien además seguirá desempeñándose como presidente del consejo. Asimismo, Dan Schulman fue designado como director principal independiente de la junta directiva.
«Durante sus 19 años como colaborador de Symantec, los últimos tres como CEO, Enrique Salem ha contribuido de forma importante a nuestra la compañía. Si bien en los últimos años Symantec ha logrado avances en diferentes áreas, atendiendo a los mejores intereses de la compañía, el consejo directivo decidió hacer un cambio de CEO», dijo Steve Bennett, Presidente y CEO.
«La decisión del consejo de hacer un cambio de liderazgo no se debe a un evento o situación en particular, ésta fue tomada tras un proceso de consideración y análisis de negocio», dijo Dan Schulman, recién nombrado director principal de Symantec. «Hemos nombrado a Steve como CEO para dar continuidad a nuestro liderazgo. Steve entiende bien la empresa, tuvo una gran trayectoria en Intuit y General Electric, y confiamos en que desde su nuevo rol impulsará a la compañía».
«Desde mi perspectiva los activos de Symantec son sólidos y los resultados están siendo menores a las posibilidades y oportunidades en el mercado», comentó Steve Bennett. «Trabajaré con nuestro equipo para maximizar los activos clave y acelerar la creación de valor para los inversionistas, socios y clientes de Symantec», apuntó.
La junta directiva decidió aprovechar este momento para hacer algunos ajustes adicionales en su composición y liderazgo. El comité directivo quedará como sigue:
- Comité de Auditoría: V. Pablo Unruh (Presidente); Frank E. Dangeard, Stephen E. Gillet, Robert S. Miller
- Comité de Compensaciones: Michael A. Brown (Presidente); Geraldine B. Laybourne, David L. Mahoney, Dan Schulman
- Comité de Nombramientos y Governance: David L. Mahoney (Presidente), Michael A. Brown, Frank E. Dangeard, Robert S. Miller, Dan Schulman
Resultados Financieros – Primer Trimestre FY13
Symantec también publicó hoy los resultados de su primer trimestre del año fiscal 2013, finalizado el 29 de junio 2012. Los ingresos GAAP para el primer trimestre fiscal fueron de US$1,668 millones de dólares, lo que representa un incremento de 1 por ciento anual y de un 4 por ciento después de ajustes monetarios. El detalle de los resultados está disponible en el sitio Web de Symantec.
Sobre Steve Bennett
Steve Bennett se unió al consejo directivo y de administración de Symantec en febrero de 2010 y se convirtió en presidente en 2011. Bennett anteriormente dirigió Intuit como presidente y CEO de 2000 a 2007. En Intuit, Bennett combinó una innovadora e histórica experiencia orientada al cliente, con el rigor estratégico y operacional. Los ingresos de Intuit crecieron a US $2,700 millones de dólares en el año fiscal 2007 cuando en el año fiscal 2000 eran menos de $1,000 millones. Bajo el liderazgo de Bennett Intuit aumentó sus negocios existentes al mismo tiempo logró una expansión hacia nuevos mercados, como la banca en línea y la salud.
Bennett se unió a Intuit tras 23 años de carrera en General Electric, donde estuvo a cargo de organizaciones complejas y diversas, desde los appliances de consumo hasta los servicios financieros. Durante su carrera en GE, desempeñó una variedad de funciones gerenciales en diversas áreas de la empresa, incluyendo GE Capital e-Business, Servicios de GE Capital Vendor Financial, GE Electrical Distribution and Control, GE Appliances, GE Sistemas Médicos y GE Supply.
Actualmente forma parte de los consejos de administración de American Airlines y la compañía matriz AMR Corporation, junto con Qualcomm. Bennett se graduó de la de licenciatura en finanzas y bienes raíces en Universidad de Wisconsin.
MOUNTAIN VIEW, Calif. – July 25, 2012 – Symantec Corp. (Nasdaq: SYMC) today reported the results of its first quarter of fiscal year 2013, ended June 29, 2012. GAAP revenue for the fiscal first quarter was $1.668 billion, up 1 percent year-over-year and up 4 percent after adjusting for currency.
«Symantec delivered another solid quarter. The company’s investment in cloud security and mobility continues to gain momentum and position us well worldwide,» said Steve Bennett, chairman, president and chief executive officer, Symantec. «We are making progress on many fronts, but believe we can further accelerate the company’s value to employees, customers, partners and shareholders.»
«We delivered record June quarter revenue and deferred revenue, as well as growth in earnings per share despite an 11 percent foreign currency headwind,» said James Beer, executive vice president and chief financial officer, Symantec. «We saw strength in endpoint protection, consumer security, authentication services, data loss prevention, and backup appliances.»
GAAP Results: GAAP operating margin for the first quarter of fiscal year 2013 was 16.1 percent compared with 18.3 percent for the same quarter last year. GAAP net income for the fiscal first quarter was $172 million compared with net income of $191 million for the year-ago period. GAAP diluted earnings per share were $0.24 compared with $0.25 for the year ago quarter. Variation in year-over-year GAAP results were as expected due to increases in restructuring costs and IT infrastructure investments.
GAAP deferred revenue as of June 29, 2012, was $3.745 billion compared with $3.689 billion as of July 1, 2011, up 2 percent year-over-year and up 5 percent after adjusting for currency. Cash flow from operating activities for the first quarter of fiscal year 2013 was $340 million compared with $503 million for the year ago period.
Non-GAAP Results: Non-GAAP operating margin for the first quarter of fiscal year 2013 was 26.1 percent compared with 27.0 percent for the same quarter last year. Non-GAAP net income for the first quarter was $309 million, flat compared to the year-ago period. Non-GAAP diluted earnings per share were $0.43 compared with earnings per share of $0.40 for the year-ago quarter, an increase of 7 percent year-over-year.
Symantec ended the quarter with cash, cash equivalents and short-term investments of $4.1 billion. During the quarter, Symantec repurchased 19 million shares for $301 million at an average price of $15.59. Symantec has $683 million remaining in the current board authorized stock repurchase plan.
Business Segment and Geographic Highlights
For the quarter, Symantec’s Consumer segment represented 31 percent of total revenue and decreased 1 percent year-over-year (increased 2 percent after adjusting for currency). The Security and Compliance segment represented 30 percent of total revenue and increased 7 percent year-over-year (increased 10 percent after adjusting for currency). The Storage and Server Management segment represented 35 percent of total revenue and decreased 2 percent year-over-year (increased 1 percent after adjusting for currency). Services represented 4 percent of total revenue and declined 2 percent year-over-year (increased 1 percent after adjusting for currency).
International revenue represented 51 percent of total revenue in the first quarter of fiscal year 2013 with a flat growth rate year-over-year (increased 6 percent after adjusting for currency). The Europe, Middle East and Africa region represented 26 percent of total revenue for the quarter and decreased 8 percent year-over-year (increased 3 percent after adjusting for currency). The Asia Pacific/Japan revenue for the quarter represented 19 percent of total revenue and increased 9 percent year-over-year (increased 10 percent after adjusting for currency). The Americas, including the United States, Latin America and Canada, represented 55 percent of total revenue and increased 3 percent year-over-year on an actual and currency-adjusted basis.
Acquisition Highlights
Our acquisitions exceeded our expectations this quarter, generating $24 million in revenue from the Clearwell and LiveOffice acquisitions as we leveraged the scope and scale of the Symantec sales force.
Second Quarter Fiscal Year 2013 Guidance
Guidance assumes an exchange rate of $1.23 per Euro for the September 2012 quarter versus the actual weighted average rate of $1.41 and an end of period rate of $1.34 per Euro for the September 2011 quarter. Our guidance assumes an effective tax rate of 28.5 percent and a common stock equivalents total for the quarter of approximately 710 million shares.
Given the recent strengthening of the US dollar relative to other currencies, for the second quarter of fiscal year 2013, ending Sept. 28, 2012, GAAP revenue is estimated between $1.635 billion and $1.665 billion, as compared to revenue of $1.68 billion during the September 2011 quarter. Symantec is expecting revenue to decline 1 percent to 3 percent year-over-year as reported, and be up 1 percent to 3 percent in constant currency.
As a result of raising a billion dollars in senior unsecured notes during June, our interest expense for the next four quarters will be higher by $8 million per quarter. This will decrease EPS by $0.008 per quarter for a total of approximately $0.03 dilution through June 2013.
GAAP diluted earnings per share are estimated between $0.15 and $0.19 as compared to $0.24 in the year ago period. Non-GAAP diluted earnings per share are estimated between $0.35 and $0.39 as compared to $0.39 in the year ago period, down 10 percent to flat on an as reported basis.
GAAP deferred revenue is expected to be in the range of $3.49 billion and $3.55 billion, compared to $3.45 billion at the end of September 2011. Symantec is expecting deferred revenue to be up 1 percent to 3 percent year-over-year as reported, and up 3 percent to 4 percent in constant currency.
Conference Call
Symantec has scheduled a conference call for 8 a.m. ET/5 a.m. PT today to discuss the results from the fiscal first quarter 2013, ended June 29, 2012, and to review guidance. Interested parties may access the conference call on the Internet athttp://www.symantec.com/invest. To listen to the live call, please go to the Web site at least 15 minutes early to register, download and install any necessary audio software. A replay and script of our officers’ remarks will be available on the investor relations’ home page shortly after the call is completed.
