Our STRONG Economy Update: Symantec profit drops 42 percent

[Bush_Eats_Beef]

http://www.bizjournals.com/sanjose/stories/2006/01/30/daily24.html?f=et79&hbx=e_du

Symantec Corp. reported a 42 percent drop in third quarter net income to $90.7 million, or 8 cents share, on Tuesday. Cupertino-based Symantec (NASDAQ:SYMC) said it would have earned $282 million, or 26 cents a share, except for acquisition costs and other charges.

The data security and storage software company said its revenue soared 65 percent to $1.15 billion, thanks in part to its acquisition of Veritas.

Analysts surveyed by Thomson First Call expected net income of 25 cents a share on revenue of $1.27 billion.

Symantec said it expects revenue between $1.19 billion and $1.22 billion, with net income of about 10 cents a share for the current quarter. Excluding items, it said its profit should be about 25 cents a share.

[Kipling]

1. Good. Bastards. Let my system take a pounding from that Sasser worm.

[Jawja]

3. Yep.

I tried to upgrade my subscription this year and bought Antivirus 2005 and it would not install on my machine - even after I followed the directions on their site. I figured that if I have to do some complicated work in the registry to get a product to install, I'd go with something else, which I did.

No problem.

Their product is defective, IMHO.

[0007]

8. The product isn't defective, they just want you to jump through

some hoops, hope you'll get discouraged and pay for a CD or an expensive upgrade.

[Jawja]

10. That's what I DID

pay for. A 49.95 upgrade from Anti-Virus 2003 to Anti-Virus 2005. And to get it to install, I was having to follow these complicated directions on their website about changing something in the registry. I made the changes and it still wouldn't install.

A decent product does not require the user to jump through hoops to get an upgrade to install on the PC.

[Warpy]

2. Not surprising. Most folks who are downsizing their lives

due to lost or threatened jobs or just the runaway inflation the gummint says we don't have are barely able to pay for their ISP. They're just hoping last year's virus protection will stop most of the stuff out there and that the free online scans will alert them to the new stuff and tell them how to get rid of it before their hard drives get chewed up.

[The_Casual_Observer]

4. They make a hell of a lot of money for practically nothing.

I wonder how many of the viruses they conjured up themselves?

[Bubba Zanetti]

9. They are buying companies at the rate of 1 per week

I happen to go to their corporate site and view their press releases last week. We were shocked at the number of companies they have purchased in the last 3 months.

If you look at their history, they have not developed very much on their own. They see value in other companies and make an offer they can't refuse.

PKZip
Norton
Ghost
PCAnywhere
etc
etc

[Deja Q]

5. They've not made any good products in years.

[eggman67]

6. That's probably

because their products are crappy.

[The Backlash Cometh]

7. That explains why their anti-virus has been crap.