back to article Beached whale Symantec watches revenues recede 7%

Symantec’s latest results show that you can wring more profit out of declining revenues by slashing costs but its not enough to bring you back to growth. Revenues in its fourth fiscal quarter of 2014 ended 28 March were $1.63bn, seven per cent down year-on-year, but net profit jumped 14 per cent to $217m. The full year …

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  1. Zacherynuk

    I can't understand why they would have Revenue and Net Income on the same graph.

    Revenue, often classed of as core-business ONLY gross income - ie gross income figures restricted to income generated by companies registered description.

    Gross Income is income which includes ancillary income, like investments, capital gain and what have you.

    Net Income is ALL the companies income after tax.

    So to me the chosen axis of this graph is to obfuscate secondary income and deliberately make the net income look less - why ?

  2. Stuart 22

    I remember ....

    ... the days when they produced good and useful software tools.

    Then they turned a decent anti-virus program into the greatest virus program of all time. Sucking both celerons and wallets dry. I have lost count of the number of exorcisms I executed on that particular demon. Some companies deserve to die.

    1. Cpt Blue Bear

      I think you mean...

      " I remember ....

      ... the days when they BOUGHT good and useful software tools."

      What is Peter Norton doing these days?

      1. Spoonsinger

        Re: "What is Peter Norton doing these days?"

        I suspect kicking back, doing what us mortals just dream/wish about if we could have gone there & done that and come out with a big wodge of dosh without all the takeover political mismanagement rubbish. Nice to see someone go low profile for once.

    2. Anonymous Coward
      Anonymous Coward

      I hope it's a painful death...

      Karma for all the pain and suffering that they caused circa NAV 07. Evil scum.

  3. Don Jefe

    Kitchen Budgets

    If cost cutting is all you've got then you're fucked. That's how you manage a household grocery budget, not run a company (or country, for those 'austerity' fans out there). Sure, you don't want to be wasteful, but if you can't get your head above water through any means other than cost cuts just cash out and go home.

    You can stay and man the bilge pumps if you want, but I can assure you, there's no glory down there. Just a cold, wet and lonely death in the dark. Everybody else will have left and assumed you did too, so they've switched off the lights in accordance with your recently implemented expense efficiency increase plan. Be the smart executive and demand a huge raise and a war chest budget or go home and do something fun.

    1. Cpt Blue Bear

      Re: Kitchen Budgets

      That's exactly what the CEO of a major ag company said to me years ago. You have two choices in this situation: come out swinging and potentially go out with a bang or suffer a long, sad slide until no one even notices that you closed up shop.

      The former means you can hold your head up in the knowledge that you tried to turn it around.

      The latter is favoured by professional managers because it allows them to keep drawing their fat salaries for a few months longer.

      I've forwarded your bilge pump analogy to my boss: he's ex-navy and will appreciate the imagery.

      1. Tom 13

        Re: come out swinging

        I agree, the problem for Symantec is that all they've ever done is borged on more stuff (badly) other people developed initially. So they've got nothing with which to come out swinging. Given that, Don's pretty much nailed it: call the vulture capitalists and sell off what you've got left before you lose even more of it. You owe it to your stockholders.

  4. Mpeler
    Paris Hilton

    Bleached Whale?

    For some reason I misread the title (no, no, no, I know it's Friday night, but I'm not "riding home by rail" (anyone remember that expression?) and saw

    "bleached whale"...have they been whitewashing their results again?

    Paris, because she looks confused too.....

  5. Fihart

    Today Symantec.......

    When your main product is regarded by some as less effective/more trouble than free alternatives, it's time you were in a different business.

    Microsoft take note.

  6. Anonymous Coward
    Anonymous Coward

    I blame Enrique Salem for the mess. He had inherited the situation from JW Thomas but did not focus on storage management at all. Also, the investments into Altiris and that DLP firm didnt pay off much.

    The American headquarters were totally disconnected from field growth in respective continents. Much politics and self serving attitude did it in. It used to be one of the best companies to work for. Miss those days. It is evil of what has become of Veritas.

    1. Anonymous Coward
      Anonymous Coward

      "I blame Enrique Salem... ...inherited the situation from JW Thomas..."

      "Thomas" ? You mean John W. Thompson, CEO from 1999 to 2009.

      Based on how bad NAV 07 was, I'm afraid I'll put the blame squarely and precisely on one John W. Thompson. With all respect to the man and his accomplishments, he presided over the biggest and most widely aggravating fiasco in IT history: NAV 07.

      If he personally paid me about $20,000 in compensatory damages, that would be just about right.

  7. Tank boy
    Windows

    So basically they're treading water. The free market will dictate whether or not they have anything worthwhile to buy. As for me, no.

    1. Tom 13

      Re: So basically they're treading water.

      Discovered yesterday that I've been unwittingly helping keep them above water but no more. Back some years ago I think I renewed a copy of it that came on my mother's laptop and set it to renew automatically since I'm not usually around when it is renewal time. And forgot all about it. I've been in the process of reducing interest payments on my revolving credit and was looking at the monthly when I saw their name. Called them and asked them to cancel it and refund that charge. They processed both requests. So that $80/yr less they'll be making in the future.

  8. Andy The Hat Silver badge

    Are their current figures in proportion to the performance drop of the average system on which their products are installed? Haven't touched it for years as it doesn't do a good job ... oh, they just admitted that didn't they ...

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