Symantec Q1 Adj. Profit Tops View; Issues Q2 Outlook - Quick Facts

(RTTNews) - Symantec Corp. (SYMC) reported net income for the first quarter of $236 million or $0.34 per share, compared to $157 million or $0.22 per share for the year-ago quarter.

Excluding items, adjusted net income for the latest first quarter was $313 million or $0.45 per share, compared to $311 million or $0.44 per share in the comparable quarter last year.

Net revenue for the first quarter rose 2% to $1.74 billion from $1.71 billion in the prior year quarter.

Analysts polled by Thomson Reuters expected the company to earn $0.42 per share on revenue of $1.67 billion for the first quarter. Analysts' estimates typically exclude special items.

Looking forward to the second quarter, the company forecasts earnings in the range of $0.29 to $0.33 per share, adjusted earnings of $0.40 to $0.44 per share and revenue in the order of $1.60 to $1.64 billion. Analysts currently expect the company to earn $0.45 on revenue of $1.63 billion for the second quarter.

For the fiscal year 2015, the company continues to expect earnings in the range of $1.43 to $1.51 per share, adjusted earnings of $1.84 to $1.92 per share and revenue of $6.63 to $6.77 billion. Analysts currently expect the company to earn $1.88 per share on revenue of $6.69 billion for the fiscal year 2015.

Symantec's Board of Directors has declared a quarterly cash dividend of $0.15 per common share to be paid on September 17, 2014 to all shareholders of record as of the close of business on August 27, 2014.