Symantec Corp. (Nasdaq: SYMC) reported that GAAP revenue for the fiscal fourth quarter was $1.67 billion, up 9 percent year-over-year. For the fiscal year, GAAP revenue was $6.19 billion, up 3 percent year-over-year.
Other Q4 financial highlights are:
- GAAP operating margin was 14.3 percent compared with 16.1 percent for the same quarter last year. Non-GAAP operating margin was 24.1 percent compared with 28.1 percent for the year-ago period.
- GAAP net income was $168 million compared with $184 million for the year-ago period. Non-GAAP net income for the fourth quarter was $297 million compared with $323 million for the year-ago quarter.
- GAAP diluted earnings per share were $0.22 compared with $0.23 for the year-ago quarter. Non-GAAP diluted earnings per share were $0.38 compared with earnings per share of $0.40 for the year ago quarter.
- Cash flow from operating activities for the fourth quarter was $689 million compared with $703 million for the same quarter last year.
- Cash flow from operating activities for fiscal year 2011 was $1.79 billion compared with $1.69 billion for fiscal year 2010, an increase of 6 percent.
- Symantec ended the quarter and fiscal year with cash, cash equivalents and short-term investments of $2.958 billion.
For the fiscal year 2011, Non-GAAP operating margin was 24.8 percent. Non-GAAP net income for the year was $1.12 billion. Non-GAAP diluted earnings per share were $1.42. During the fourth quarter of fiscal year 2011, Symantec repurchased approximately 11 million shares for $180 million at an average price of $17.86. During the fiscal year 2011, the company repurchased 57 million shares at an average price of $15.39, equivalent to $870 million. Symantec has $877 million remaining in the current board authorized stock repurchase program.
For the first quarter of fiscal year 2012, which ends July 1, revenue is estimated between $1.570 billion and $1.590 billion, up 10 to 11 percent year-over-year. GAAP diluted earnings per share are estimated between $0.19 and $0.20. Non-GAAP diluted earnings per share are estimated between $0.36 and $0.37.
Shares last traded at $19.41, down 0.77 percent on Wednesday with a 52-week range of $12.04 to $19.82.