Symantec (SYMC) Hammered On Poor Numbers

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Symantec (SYMC) was forecast to post a fiscal second-quarter earnings of 26 cents a share on revenue of $1.39 billion

The firm reported the results of its second quarter of fiscal year 2008, ended Sept. 28, 2007. GAAP revenue for the quarter was $1.42 billion.

GAAP net income for the September 2007 quarter was $50 million, compared to $126 million in the September 2006 quarter. Diluted earnings per share of $0.06 compared to earnings per share of $0.13 for the same quarter last year. Non-GAAP net income for the September 2007 quarter was $263 million, compared to $261 million for the same quarter last year. Non-GAAP diluted earnings per share were $0.29, up 11 percent compared to diluted earnings per share of $0.26 for the same quarter last year.

Non-GAAP numbers adjusts for the following items: business combination accounting entries,expenses related to acquisitions, stock-based compensation expense,restructuring charges and charges related to the amortization of intangibles, write-downs of intangible assets and certain other items.

For the December 2007 quarter, GAAP revenue is estimated between $1.41 billion and $1.45 billion. GAAP diluted earnings per share are estimated between $0.06 and $0.11

The eanings gods were not pleased and SYMC dropped over 9% after hours to $19.

Douglas A. McIntyre