Symantec Reports Q2

CUPERTINO, Calif. -- Symantec Corp. (NASDAQ:SYMC - News) today reported results for the second quarter of fiscal year 2007, ended Sept. 29, 2006. GAAP revenue for the quarter was $1.262 billion and non-GAAP revenue was $1.275 billion. Non-GAAP revenue grew 7 percent over the comparable period a year ago.

GAAP Results: GAAP net income for the fiscal second quarter was $123 million, compared to a net loss of $251 million for the same quarter last year. Diluted earnings per share was $0.12, compared to a loss of $0.21 per share for the same quarter last year.

Non-GAAP Results: Non-GAAP net income for the fiscal second quarter was $259 million, compared to $273 million for the same quarter last year. Non-GAAP diluted earnings per share was $0.26, compared to diluted earnings per share of $0.23 for the same quarter last year. For a detailed reconciliation of our GAAP to non-GAAP results, please refer to the attached consolidated financial statements.

"Our results for the September quarter met the low end of our expectations," said John W. Thompson, Symantec chairman and chief executive officer. "With the most challenging part of the fiscal year behind us, I believe our business remains healthy and we are poised to achieve our full-year financial targets."

Symantec Corp. (Nasdaq: SYMC)