Wide product portfolio helps Symantec bounce back in 2010

Symantec has managed to get the black pens out again and banish the red ones as it reveals its end of year results. While its deadly rival McAfee has highly publicised issues with updates that have caused users Windows PCs to encounter problems Symantec has managed to shore up its position in the c

Symantec has managed to get the black pens out again and banish the red ones as it reveals its end of year results.

While its deadly rival McAfee has highly publicised issues with updates that have caused users Windows PCs to encounter problems Symantec has managed to shore up its position in the consumer market.

Figures for the fiscal year show how the vendor has managed to turnaround its fortunes with GAAP net income of $714 million compared with a net loss of $6.8bn in 2009.

Symantec CEO Enrique Salem said that it had managed to widen its portfolio which provided resellers with more chances to getr a bite of the customer security budget.

"Sales activity continued to improve as the team utlised the broader Symantec portfolio to take advantage of cross-sell and up-sell opportunities," he said.

The vendor has announced that from October it is going to be moving to a reseller programme based on technical expertise and James Beer, executive vice president and CFO at Symnantec, highlighted some of the strong product areas.

"The consumer business reported its sixth consecutive quarter of growth and our enterprise business was driven by strong sales of hosted services, data loss prevention, backup and archiving solutions," he said.

Symantec continues to widen its product portfolio and last week announced the acquisition of PGP Corporation and GuardianEdge.

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