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Symantec Reports FY 2012 Revenue of $6.73 Billion

Security giant Symantec (NASDAQ:SYMC) today reported the results of its fourth quarter and the fiscal year 2012, ended March 30, 2012. For the fiscal year, GAAP revenue was $6.73 billion, up 9 percent year-over-year and up 6 percent after adjusting for currency.

The company reported GAAP revenue of $1.68 billion for its fiscal fourth quarter, flat year-over-year and up 1 percent after adjusting for currency.

Key financial metrics reported today include:

Security giant Symantec (NASDAQ:SYMC) today reported the results of its fourth quarter and the fiscal year 2012, ended March 30, 2012. For the fiscal year, GAAP revenue was $6.73 billion, up 9 percent year-over-year and up 6 percent after adjusting for currency.

The company reported GAAP revenue of $1.68 billion for its fiscal fourth quarter, flat year-over-year and up 1 percent after adjusting for currency.

Key financial metrics reported today include:

Symantec Financial ResultsFourth Quarter 2012

• GAAP Revenue of $1.68 billion, flat compared to prior year

• Non-GAAP Operating Margin of 22.2%, down 190 basis points

• Non-GAAP Earnings Per Share of $0.38, equal to prior year

• GAAP Deferred Revenue of $3.97 billion, up 4%

• Cash Flow from Operations of $687 million, flat compared to prior year

Fiscal Year 2012

• GAAP Revenue of $6.73 billion, up 9%

• Non-GAAP Operating Margin of 25.2%, up 40 basis points

• Non-GAAP Earnings Per Share of $1.61, up 13%

• Cash Flow from Operations of $1.90 billion, up 6%

“We posted 9 percent growth for fiscal year 2012, driven by strength in our backup, Software-as-a-Service, data loss prevention, and managed security services offerings. In addition, we generated strong deferred revenue and cash flow, despite a weaker than expected fourth quarter,” said Enrique Salem, president and chief executive officer, Symantec.

“Year over year declines in license sales and a larger proportion of ratable subscription sales caused revenue and EPS to come in below our expectations for the fourth quarter. However, a greater amount of our billings went to the balance sheet, driving record deferred revenue,” said James Beer, executive vice president and chief financial officer, Symantec. “In fiscal year 2012, our business generated $1.9 billion of cash flow from operations, up 6 percent from fiscal year 2011, driven by record results for each of our key financial metrics and across all of our geographies.”

For the quarter, Symantec said that its consumer segment represented 31 percent of total revenue. The Security and Compliance segment represented 30 percent of total revenue and increased 8 percent year-over-year. The Storage and Server Management segment represented 35 percent of total revenue and declined 6 percent year-over-year (down 5 percent after adjusting for currency). The Services segment represented 4 percent of total revenue and declined 6 percent year-over-year (down 5 percent after adjusting for currency).

International revenue represented 52 percent of total revenue in the fourth quarter of fiscal year 2012 and increased 4 percent year-over-year (5 percent after adjusting for currency). The Europe, Middle East and Africa region represented 27 percent of total revenue for the quarter and declined 5 percent year-over-year (down 1 percent after adjusting for currency). The Asia Pacific/Japan revenue for the quarter represented 19 percent of total revenue and increased 15 percent year-over-year (13 percent after adjusting for currency). The Americas, including the United States, Latin America and Canada, represented 54 percent of total revenue and declined 1 percent year-over-year on an actual and currency-adjusted basis.

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