SYMANTEC CORP. $21.41 (Nasdaq symbol SYMC; TSINetwork Rating: Average) (1-408-517-8000; www.symantec.com; Shares outstanding: 691.6 million; Market cap: $14.7 billion; Dividend yield: 2.8%) reports that its revenue fell 5.6% in its fiscal 2014 fourth quarter, which ended March 28, 2014, to $1.65 billion from $1.75 billion a year earlier.
However, earnings per share rose 6.8%, to $0.47 from $0.44, mainly due to savings from a new restructuring plan that includes job cuts and simplifying the company’s product lines.
Symantec now expects to earn $1.84 to $1.92 a share in fiscal 2015, which is higher than the consensus estimate of $1.83. The stock trades at just 11.4 times the midpoint of that range, mainly due to investor uncertainty after Symantec fired its CEO over the slow progress of its restructuring.
The company continues to spend a high 17% of its revenue on research, which will help it adapt to rapidly changing technologies. In addition to preventing viruses and other attacks, it is working on products that help clients recover data from infected computers. That should help spur its long-term revenue growth.
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Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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We do not collect or disclose personal information, except when it is provided to us voluntarily by the site/store visitor with their consent.
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We are continuously in the process of improving our sites and services. If any new features or policies require a change to this current policy, we will post a clear notice of this change on pages of our site where the privacy policy appears. The principle behind this privacy policy is to collect information with your knowledge and consent.
What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
Information You Give Us: We receive and store any information you enter on our website or give us in any other way through sign-up forms or ordering forms for publications and services. You can choose not to provide certain information, but then you might not be able to take advantage of many of our services and features. We use the information that you provide for such purposes as responding to your requests, customizing your web browsing experience for you, improving our website, and communicating with you.
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Changes to this Policy
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