(By Salman - iStockAnalyst Writer)In an earnings season, in which most of the companies are producing disappointing results, gems like McAfee (NYSE: MFE) still exist. Based in Santa Clara, California McAfee, Inc. is an antivirus software and computer security company that secures systems and networks from known and unknown threats worldwide. The company's system security offerings include an endpoint protection that encompasses security solutions for consumer and corporate computer systems; data protection solutions to safeguard vital information residing on various devices; and McAfee mobile security solutions to protect mobile operators and their users by safeguarding mobile terminals, applications, and content.

McAfee is the no. 2 company in its sector behind Symantec (NASDAQ: SYMC) and is fast gaining market share against its rival. In 2008, its revenue grew 23% compared to Symantec's 6% increase.

Late in April, McAfee announced first quarter results that exceeded market’s expectations by wide margins. Net income jumped to $51.8 million, or 34 cents a share, from $30.2 million, or 18 cents a share, in the comparable period a year ago. Revenue surged 21% to to $448 million from $369.6 million. Consensus expectations were for McAfee to report earnings of 48 cents a share and $448.5 million in revenue.

On a segmental basis, sales to businesses rose 28% in the first quarter, while its consumer business saw sales grow 12%. Breaking down by geography, North America posted a 34% rise, while international revenue rose 7% despite currency headwinds.

During the first quarter, the company entered into a global reseller agreement with Hewlett Packard (NYSE: HP) where latter will sell McAfee's entire line of enterprise security products and services globally. HP is the largest pc maker in the world.

Looking ahead to the second quarter, the company gave strong financial guidance. McAfee said that it expects earnings excluding special items to be between 54 and 58 cents a share, and revenue to be between $455 million and $475 million.

The company's business is largely re-occurring in nature, with 51% of the total revenue coming from service and support, and another 41% from subscriptions in first quarter. Approximately 92% of the total first quarter revenues were reoccurring. This unique advantage imparts exceptional strength to the company's business. Additionally, McAfee has high customer retention rates.