Posted January 25, 2013 by Mark in World

Symantec Corporation (NASDAQ: SYMC) Net Falls for 12% in 3rd Quater

Northern, WI 1/25/2013 (avauncer) - Symantec Corporation (NASDAQ: SYMC) is down in  its earnings before the market opened and declares  a split of the roles of Chairman and Chief executive officer as stock-based compensation expenses marked improved revenues, Symantec Corporation (NASDAQ:SYMC)  fiscal third -quarter earnings fell by 12%. As the roles split Analyst’s says that both aimed at clearing the agenda in a meeting. Stephan Bennett, Chief Executive Office expects a new vision for the securing sift-ware maker.

Analyst Brent Thrill of UBS is happy as they were able to get an early look at the numbers before the meeting quit this puts   focus on this afternoon.

Corporate networks and the maker of Norton Antivirus Software and utilities to secure data storage are focusing on reorganization of high profile to face acquisitions of high cost and weak earning. Mr. Bennett launches a new corporate review to with stand his additional role as Chief executive Officers, on previous July.

Mr. Stephen Bennett is now expected to create a new vision to their company, which would basically focus on the organic revenue growth over acquisitions, products offering on a streamlined basis and it would also include sales on net assets. He even thinks’ of Mergers and Acquisition but these have to be a value generating deals. On this Mr. Thill feel’s that they would focusing more on the present exciting deals.

Symantec Corporation (NASDAP:SYBT) a Calif based  company on a maintain view seems that  it struggled to integrate its 2005 acquisitions of VERITAS a maker of corporate security tool’s which are  brought at  and $13.5 billion . A consumer security business of Symantec corporation (NASDAQ:CYBT)   generates almost half of their operating profit i.e. about 30% of sales led by its line of Norton product.

Mr. Gillet focus was not only Software related; he looked upon process improvement in Symantec Corporation as said by Mr. Thrill.

The company has seen progress in the third quarter with revenues at $1.79 billion i.e. 4% rise in a year ago, with an adjusted operating margin of 25.6%. As Mr. Bennett aims at two strategies initially with the reorganization is to achieve consistent revenue growth of 5% and adjusted operating profit margin of 30% and this resulted in the progress of above results.

Thomson Reuters says adjusted EPS were 45 cents which is pretty good enough as analyst expectations were 38 cents. Pat Walraven of JMP securities feel’s it is important to meet the company expectations to achieve this changing direction’s of execution on the last quarter is a more important issue.

Symantec Corporation (NASDAQ:SYMC) is up by 1.16%  to close at $21.71 where as Best buy CO (NYSE:BBY) is down by 0.39% close at 15.34%. Starbucks Corporation (NASDAQ:SBUX) is up by 0.20% to close at $54.57. JMP Group Inc. (NYSE:JMP) is up by 1.11% to close at $6.35


Mark Vansetti founder and editor of three-time Rondo Award nominated movie news websites ERSInk.com, MovieGeekFeed.com, and TheSpectralRealm.com. He also served as a news reporter for the award winning movie website GordonandtheWhale.com. His work has been featured on Yahoo! Movies, Yahoo! News, Yahoo! TV, Associated Content from Yahoo!, DC Comics, StarWars.com, KISSOnline.com and The Movie Pool. Mark Vansetti is also a licensed attorney and, along with his Juris Doctor, holds a B.S. in Human Biology and a B.A. in Economics. Throughout his professional career, he has written on a variety of topics for the American Bar Association Health Law Section, Findlaw, Yahoo!, and other websites. He also served as the senior editor of the Law Review at the law school he attended.