Symantec Announces Record Fourth Quarter

Symantec Announces Record Fourth Quarter And Fiscal Year End 2001 Results

Strong Enterprise and International Sales Drive Growth

Symantec Corp. (Nasdaq: SYMC), a world leader in Internet security technology, today announced the 10th consecutive quarter of record revenues. Strong sales in the enterprise and international markets contributed to net revenue of $US250.6 million for the fourth fiscal quarter 2001, ended March 30, 2001. Revenue increased 15 percent over the same quarter a year ago. Revenue for fiscal year 2001 was $US944.2 million, an increase of 14 percent compared to revenue of $US826.6 million for fiscal year 2000.

Earnings per share before all acquisition related amortization and one-time charges for the fourth quarter was $US0.62, an increase of 13 percent from earnings per share of $US0.55 in the same period a year ago. Earnings per share before all acquisition related amortization and one-time charges for the fiscal year 2001 was $US2.35, an increase of 25 percent from the earnings per share of $US1.88 for the fiscal year 2000. All figures include historical results of the acquired AXENT Technologies and exclude the results of operations from the company’s divestiture of the Visual Café and ACT! product lines.

“Despite a slowing economy, enterprise and consumer customers put a priority on Internet security purchases,” said John W. Thompson, Symantec chairman, president and CEO. “Our enterprise solutions continue to gain market share both here and abroad while our consumer products remain the market leader. Our transformation of Symantec into a global leader of enterprise solutions is on track with enterprise revenue growing 35 percent from the same period last year and accounting for 65 percent of total revenues.”

International revenues represented 45 percent of total revenue in the March quarter and grew by 27 percent over the same quarter last year. Overall, the Asia Pacific region grew 50 percent, Japan grew by 24 percent and the European, Middle East and Africa market experienced a 24 percent growth compared to the March quarter a year ago.
Quarterly Highlights

 Symantec signed a record 17 deals worth more than $US300,000 each during the quarter. Symantec products will now protect the Navy/Marine Corps, Reuters, Intel and Bell South as well as international customers including Polish Bank Przemysłowo-Handlowy (BPH), Russian Railway Company October Railways and Planet Internet, Holland’s largest Internet Service Provider.
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 Symantec’s vulnerability management solutions revenue grew 51 percent, intrusion detection solutions grew 21 percent and enterprise anti-virus products enjoyed a robust 60 percent growth over the same quarter last year.
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 Symantec updated its award winning enterprise administration tool pcAnywhere with the release of version 10.0. Symantec also released the latest version of Ghost and Norton AntiVirus for Lotus Notes/Domino.
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 Symantec released CarrierScan Server 2.1 for Network Appliance, which is the first product to protect, both cache and filer gateway solutions.
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 Symantec released the Symantec AntiVirus for the Palm OS. Also released this quarter, Norton AntiVirus 2001 Professional Edition, Norton Internet Security 3.0 and Norton Personal Firewall 3.0.
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 More than three million people around the world have turned to Symantec’s free, Web-based service, Symantec Security Check, to identify and address vulnerabilities in their PCs and Macintosh systems.
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 Symantec became one of the founding members of the Information Technology Information Sharing and Analysis Center (IT-SAC), an organization designed to enhance the availability, confidentiality and integrity of networked information services. Symantec’s Rob Clyde will serve on the organization’s board of directors.
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 Symantec products continue to receive awards and recognition. Symantec’s PowerVPN won an InfoWorld Business Impact award for its power, flexibility and ease of use. Symantec’s firewall appliance won product of the year from Network Magazine. Symantec’s Norton AntiVirus received PC Magazine’s coveted “Best of 2000” award. Smart Business named Symantec’s Norton AntiVirus as the “Best of the Best” and “Editor’s Pick.” Symantec’s Norton AntiVirus received Information Security Magazine’s Security Excellence Award.
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