Internet security firm Symantec has issued a sales and profits warning
- and seen its share price fall by 8%.
The firm, which fears that its share of the anti-virus and
general security software market could be affected by new rival
products from Microsoft, has cut its full-year targets after
warning of a weak third quarter.
Symantec said weak sales and higher costs would lead to net
profits coming in at between 10 and 11 cents a share, for the third
quarter ending 29 December. The previous company forecast had been
for 14 to 15 cents.
As a result, Symantec forecast that full-year profits would be
between 36 and 39 cents a share, down from the 46 to 56 cents
previously estimated.
The firm also estimated that third-quarter sales might be as low
as $1.29bn (£678m), compared with the $1.35bn forecast.
Final results for the third quarter will be released on 24
January.
Microsoft launches Forefront Security beta
Symantec enterprise security product
roadmap
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