Symantec Q4 Profit Tops Estimate

(RTTNews) - Symantec Corp. (SYMC) reported net income for the fourth quarter of $217 million or $0.31 per share, compared to $190 million or $0.27 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $329 million or $0.47 per share, compared to $316 million or $0.44 per share in the prior year quarter.

Net revenue for the fourth quarter fell 7% to $1.63 billion from $1.75 billion in the same quarter last year. Adjusted net revenue for the latest quarter was $1.65 billion.

Analysts polled by Thomson Reuters expected the company to earn $0.42 per share on revenue of $1.65 billion for the fourth quarter. Analysts' estimates typically exclude special items. Looking forward to the first quarter, the company forecasts revenue of $1.65 to $1.69 billion, earnings of $0.31 to $0.33 per share and adjusted earnings of $0.41 to $0.43 per share. Analysts currently expect the company to earn $0.43 on revenue of $1.64 billion for the first quarter.

For the fiscal year 2015, the company forecasts revenue of $6.63 to $6.77 billion, earnings of $1.43 to $1.51 per share and adjusted earnings of $1.84 to $1.92 per share. Analysts currently expect the company to earn $1.83 per share on revenue of $6.66 billion for the fiscal year 2015.