Network Associates posts third-quarter profit


Network Associates posts third-quarter profit

Security software developer Network Associates posted a profit of $9.1m (£12.2m), in the third quarter, on revenue of $232.2m (£149m), including special items and its antivirus service provider division.

In the third quarter last year, the company posted a net loss of $11.3m on revenue of $205.6m. Network Associates last month acquired the remaining 25% of it did not own for about $200m in cash and stock.

Network Associates said that it earned $27m (£17.3m) excluding special items and costs associated with the acquisition of

"Our third-quarter results demonstrate Network Associates' commitment to growth in revenue and profit," said company chairman and chief executive officer George Samenuk. "The completion of the tender offer gives us an opportunity to leverage new growth opportunities in the consumer and small business markets and to drive the next generation of wireless and online computer security."

The company said it expects revenue to rise to between $252m (£161m) and $257m in the fourth quarter.

For the calendar year 2003, the company expects net revenue between $1bn (£640m) and $1.03bn.

Email Alerts

Register now to receive IT-related news, guides and more, delivered to your inbox.
By submitting your personal information, you agree to receive emails regarding relevant products and special offers from TechTarget and its partners. You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy.

COMMENTS powered by Disqus  //  Commenting policy