New book by Larry Connors Click here Improve your trading - See how
Net income for the quarter declined to $36.78 million or $0.23 per share from $48.80 million or $0.31 per share a year ago. The company's recent quarter results included stock-based compensation charges of $26.6 million and acquisition-related costs of $27.83 million, among other charges.
Non-GAAP net income for the quarter increased to $98.59 million or $0.62 per share from $82.24 million or $0.53 per share in the year-ago period. On average, twenty-nine analysts polled by Thomson Reuters estimated revenues of $0.61 per share. Analysts' estimates typically exclude special items.
The Santa Clara, California based company, which manufactures anti-virus software, reported that revenues increased by 18% to $485.27 million from $409.67 million in the year-ago period. Twenty seven Wall Street analysts estimated revenues of 486.61 million.
McAfee's Corporate business revenue grew 25% year-over-year to $308 million. The company closed 472 deals greater than $100,000 in value, including 74 deals greater than $500,000 in value and 31 deals greater than $1 million in value. Revenues for the company's Consumer business grew 8% year-over-year to $177 million,
McAfee's North America revenues grew 25% year-over-year to a record $273 million in the third quarter of 2009. North America revenues accounted for 56% of total revenue for the quarter. International revenues grew 11% year-over-year to a record $212 million and accounted for 44% of the total revenue for the quarter.
"We are pleased to report our record results for the third quarter of 2009. We made significant improvements across our key financial metrics, including non-GAAP operating margin growth of 310 basis points year-over-year and operating cash flow growth of 74 percent year-over-year to a record $152 million," said Dave DeWalt, McAfee's president and chief executive officer.
Spending in the sector is expected to increase as there is an increase in demand for cybersecurity. The company's competitor Symantec Corporation's revenues beat estimates during the same quarter.
According to the guidance issued, the company projects fourth-quarter net income per share in the range of $0.32 - $0.38 and adjusted non-GAAP net income of $0.61 - $0.65 per share, on revenues of $505 million - $525 million. The Street estimates earnings of $0.63 per share, on revenues of $506.70 million.
Year-to-date, net income declined to $118.89 million or $0.75 per share from $126.80 million or $0.79 per share in the comparable period year-ago. Non-GAAP net income for the period increased to $281.88 million or $1.78 per share from $237.31 million or $1.48 per share a year ago. Revenue for the nine month period increased to $1.401 billion from $1.176 billion in the last year.
MFE closed Monday's last trade on the New York Stock Exchange at $43.75, up $1.51 or 3.57%.
For comments and feedback: contact editorial@rttnews.com Copyright(c) 2009 RTTNews.com, Inc. All Rights Reserved
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
