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 …
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 ?
... 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.
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.
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.
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.
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.
"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.
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.
The Register 
Biting the hand that feeds IT
Copyright. All rights reserved © 1998–2024
