Symantec Corp. Raises FY19 Enterprise Security Revenue, EPS Outlook

(RTTNews) - Symantec Corp. (SYMC) announced, for fiscal 2019, the company now expects: non-GAAP EPS in a range of $1.57 - $1.61; and non-GAAP revenue in the range of $4.76 billion to $4.79 billion.

Greg Clark, Symantec President and CEO, said: "Based on the outperformance of Enterprise Security revenue in the third quarter, we are raising our revenue and EPS guidance for the remainder of fiscal year 2019. We are also pleased to announce that in the fourth quarter, the Board of Directors has authorized an increase to our existing share repurchase authorization to $1.3 billion."

For the third-quarter, non-GAAP diluted EPS was $0.44; and non-GAAP revenue was $1.218 billion.

Symantec's Board of Directors has declared a quarterly cash dividend of $0.075 per common share to be paid on March 13, 2019, to all shareholders of record as of the close of business on February 19, 2019.

The company announced that its Board of Directors appointed Matthew Brown, who is currently its Vice President, Finance and Corporate Controller, to the position of Vice President, Finance and Chief Accounting Officer, effective immediately. Brown joined the company as Vice President, Finance in August 2016 following the company's acquisition of Blue Coat, where he had served since October 2015, most recently as Vice President, Corporate Controller. Previously, he served in various positions at NETGEAR, from 2010 to October 2015, most recently as Senior Director, Assistant Controller.