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In a release, the company stated:
- GAAP revenue for the quarter was $1.518 billion and non-GAAP revenue was $1.523 billion, up 6 percent over the comparable period a year ago. Foreign currency movements positively impacted non-GAAP revenue by approximately 3.5 percentage points year-over-year, and negatively impacted revenue by 2 percentage points sequentially.
- GAAP Results: GAAP operating margins for the second quarter were 14.3 percent. GAAP net income for the second quarter of fiscal year 2009 was $140 million compared with $50 million for the same quarter last year. GAAP diluted earnings per share were $0.16 compared with earnings per share of $0.06 for the same quarter last year. GAAP deferred revenue at the end of the quarter was $2.713 billion compared with $2.599 billion for the same quarter last year.
- Cash flow from operating activities for the second quarter of fiscal year 2009 was $248 million compared with $331 million for the same quarter last year. This reduction was driven by increased cash tax payments versus the year ago period in which we received a tax refund, resulting in a year-over-year differential of more than $100 million.
- Non-GAAP Results: Non-GAAP operating margins for the second quarter were 29.1 percent, up 390 basis points year-over-year. Non-GAAP net income for the second quarter of fiscal year 2009 was $311 million, up 18 percent compared with $263 million for the same quarter last year. Non-GAAP diluted earnings per share were $0.37, up 28 percent compared with earnings per share of $0.29 for the year ago quarter. Non-GAAP deferred revenue was $2.721 billion, up 4 percent compared with $2.624 billion at the end of the second quarter of fiscal year 2008. Foreign currency movements negatively impacted non-GAAP deferred revenue by 1 percentage point year-over-year, and negatively impacted deferred revenue by 5 percentage points sequentially.
"In the face of a slowing economic environment around the world, Symantec continued to generate growth in both our core business and in high growth areas which are becoming increasingly important to our customers," said John W. Thompson, chairman and chief executive officer, Symantec. "I am also quite pleased with our continued operating margin expansion and earnings growth, which is a result of our ongoing focus on managing costs and expenses."
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