Network Associates posts third-quarter profit

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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 McAfee.com 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 McAfee.com 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 McAfee.com.

"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 McAfee.com 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.

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