Norton Small & Medium Business Enterprise Partners United States Shopping ABOUT SYMANTEC Add WELCOME CORPORATE PROFILE NEWSROOM Press Releases Subscribe to RSS Symantec Perspectives Social Media Center Media Resources Media Contacts INVESTOR RELATIONS ANALYST RELATIONS GOVERNMENT AFFAIRS CAREERS Press Release Symantec Reports Second Quarter Fiscal Year 2015 Results Non-GAAP operating margin and EPS exceed guidance; revenue in-line with expectations Results fueled by strength in enterprise backup, enterprise endpoint protection and DLP On track to achieve our fiscal year revenue and operating margin targets at original guided exchange rate MOUNTAIN VIEW, Calif. – November 5, 2014 – Symantec Corp. (Nasdaq: SYMC) today reported the results of its second quarter of fiscal year 2015, ended October 3, 2014. Michael A. Brown, president and CEO, said, “Symantec delivered solid results this quarter that demonstrate the underlying strengths of our security and information management businesses. We are pleased with the growth we achieved in enterprise endpoint security and data loss prevention. Strong performance in our NetBackup appliances accelerated from 35% year-over-year growth in the June quarter to 45% in the September quarter.” “Symantec operates the largest civilian threat intelligence network in the world, which is a competitive advantage that makes our products and services increasingly capable of defending against sophisticated threats,” Brown said. “In October, we released an upgrade to our flagship enterprise security product, Symantec Endpoint Protection, which improves our ability to stop targeted attacks, and we launched our Managed Adversary Threat Intelligence offering that provides enterprise customers with greater threat intelligence as to who is attacking them.” Thomas Seifert, executive vice president and CFO, said, “We are successfully executing against the priorities we outlined at the beginning of the year, and in particular our eight revenue and efficiency initiatives are contributing to revenue and margin expansion. Achieving nearly 29% non-GAAP operating margin this quarter, a 120 basis point improvement year-on-year, underscores our ability to improve profitability. We are on track to achieve our fiscal year revenue and operating margin targets at our original guided exchange rate.” Last month, Symantec announced plans to separate into two publicly traded companies, one focused on security, the other on information management. “We believe this separation will provide each business the flexibility and focus to drive growth and enhance shareholder value,” Seifert said. “To minimize disruption for our customers and partners, we have dedicated teams managing the separation process and our go-to-market capabilities will remain largely intact for the remainder of this fiscal year.” Results for the Second Quarter of Fiscal Year 2015 (Dollars in millions, except EPS) 2Q15 2Q14 Reported Y/Y Change GAAP Revenue $1,617 $1,637 (1%) Operating Margin 21.5% 15.1% 640 bps Net Income $244 $241 (1%) Deferred Revenue $3,417 $3,567 (4%) EPS (Diluted) $0.35 $0.34 3% CFFO $173 $191 9% Non-GAAP Operating Margin 28.7% 27.5% 120 bps Net Income $332 $359 (8%) EPS (Diluted) $0.48 $0.51 (6%) Third Quarter and Fiscal Year 2015 Guidance (Dollars in millions, except EPS) 3Q15 FY15 At Expected FX Rate At Previous FX Rate At Expected FX Rate At Previous FX Rate GAAP Revenue $1,650 - $1,690 $1,695 - $1,735 $6,600 - $6,680 $6,715 - $6,795 Operating Margin 19.2% - 20.2% 20.7% - 21.7% 19.4% - 19.8% 20.3% - 20.6% EPS (Diluted) $0.31 - $0.34 $0.33 - $0.36 $1.31 - $1.36 $1.37 - $1.42 Non-GAAP Operating Margin 28.3% - 29.3% 29.5% - 30.5% 27.4% - 27.8% 28.3% - 28.6% EPS (Diluted) $0.47 - $0.50 $0.49 - $0.52 $1.88 - $1.93 $1.94 - $1.99 Tax Rate 27% 27% 26% 26% Share Count 697 million 697 million 697 million 697 million FX Rate (€/$) $1.27 $1.38 $1.31 $1.38 Symantec's Board of Directors has declared a quarterly cash dividend of $0.15 per common share to be paid on December 17, 2014 to all shareholders of record as of the close of business on November 24, 2014. The ex-dividend date will be November 20, 2014. Conference Call Symantec has scheduled a conference call for 5 p.m. ET/2 p.m. PT today to discuss results from the second quarter of fiscal year 2015, ended October 3, 2014 and to review guidance. Interested parties may access the conference call on the Internet at http://www.symantec.com/invest. To listen to the live call, please go to the website at least 15 minutes early to register, download and install any necessary audio software. A replay and our prepared remarks will be available on the investor relations home page shortly after the call is completed. About Symantec Symantec Corporation (NASDAQ: SYMC) is an information protection expert that helps people, businesses and governments seeking the freedom to unlock the opportunities technology brings -- anytime, anywhere. Founded in April 1982, Symantec, a Fortune 500 company, operating one of the largest global data-intelligence networks, has provided leading security, backup and availability solutions for where vital information is stored, accessed and shared. The company's more than 20,000 employees reside in more than 50 countries. Ninety-nine percent of Fortune 500 companies are Symantec customers. In fiscal 2014, it recorded revenues of $6.7 billion. To learn more go to www.symantec.com or connect with Symantec at: http://www.symantec.com/social/. ### NOTE TO EDITORS: If you would like additional information on Symantec Corporation and its products, please visit the Symantec News Room at http://www.symantec.com/news. All prices noted are in U.S. dollars and are valid only in the United States. Symantec and the Symantec logo are trademarks or registered trademarks of Symantec Corporation or its affiliates in the U.S. and other countries. Other names may be trademarks of their respective owners. FORWARD-LOOKING STATEMENTS: This press release contains statements regarding our financial and business results and plans, which may be considered forward-looking within the meaning of the U.S. federal securities laws. These include statements regarding our plan to separate into two publicly traded companies, as well as projections of future revenue, operating margin and earnings per share, amortization of acquisition-related intangibles, stock-based compensation, and restructuring, separation and transition charges. These statements are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied in this press release. Such risk factors include those related to: general economic conditions; risks related to the planned separation of the company into the security business and the information management business; maintaining customer and partner relationships; the anticipated growth of certain market segments, particularly with regard to security and storage; the competitive environment in the software industry; changes to operating systems and product strategy by vendors of operating systems; fluctuations in currency exchange rates; the timing and market acceptance of new product releases and upgrades; the successful development of new products and integration of acquired businesses, and the degree to which these products and businesses gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release. We assume no obligation, and do not intend, to update these forward-looking statements as a result of future events or developments. Additional information concerning these and other risks factors is contained in the Risk Factors sections of our Form 10-K for the year ended March 28, 2014. USE OF NON-GAAP FINANCIAL INFORMATION: Our results of operations have undergone significant change due to the impact of stock-based compensation, charges related to the amortization of intangible assets, and certain other income and expense items that management considers unrelated to the Company’s core operations, including restructuring, separation and transition costs. To help our readers understand our past financial performance and our future results, we supplement the financial results that we provide in accordance with generally accepted accounting principles, or GAAP, with non-GAAP financial measures. The method we use to produce non-GAAP results is not computed according to GAAP and may differ from the methods used by other companies. Non-GAAP financial measures are supplemental, should not be considered a substitute for financial information presented in accordance with GAAP and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Our management team uses these non-GAAP financial measures in assessing the Company’s operating results, as well as when planning, forecasting and analyzing future periods. Investors are encouraged to review the reconciliation of our non-GAAP financial measures to the comparable GAAP results, which is attached to our quarterly earnings release and which can be found, along with other financial information, on the investor relations page of our website at http://www.symantec.com/invest. 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