Symantec reports revenue growth boost

Computer security company Symantec reported third-quarter income of $72m (£47m) on revenue of $376m (£234m). For the same quarter...

Computer security company Symantec reported third-quarter income of $72m (£47m) on revenue of $376m (£234m). For the same quarter last year, Symantec reported net income of just $100,000.

Increasing demand among enterprises for the full range of Symantec's security products and services was responsible for the strong performance.

Overall, the company's enterprise security business grew by 26% in the third quarter over the same quarter last year, accounting for 42% of Symantec's total revenue.

Sales of firewall and virtual private network products grew by 49%, while sales of antivirus products and vulnerability management technology increased by 25% and 20% respectively.

Symantec's security services business also grew by more than 200% compared with the same quarter last year.

While revenue in the US grew by 21%, Symantec was also helped by a jump in international sales, which grew by 39% and accounted for slightly more than half of the company's total third-quarter revenue.

International revenue was led by sales in Latin America, which grew by more than half over last year. Sales in Europe, the Middle East and Africa were also strong, growing by 46%.

Symantec greatly expanded its product and service offerings over the past year, buying a number of smaller security companies including SecurityFocus, Riptech and Recourse Technologies for about $355m (£221m) in July alone.

The company also acquired new technology such as Recourse's ManHunt intrusion-detection system (IDS) and managed security services provider Riptech's Calterian monitoring system, which can collect input from firewalls and IDSes made by different suppliers.

Read more on Antivirus, firewall and IDS products

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