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Symantec Corp. (NASDAQ: SYMC) has reported the fiscal results for its third quarter 2015 that ended January 2, 2015. The company has reported a 30 percent non-GAAP operating margin target in this quarter.
Given an IT environment dominated by cyber attacks and endpoint security threats, Symantec’s information management business, recently rebranded as VERITAS, has accelerated in this quarter. The company, which has been cited as the market leader in endpoint security, showed a growth of 5% YoY in enterprise endpoint protection, in constant currency. This growth is being driven by strength in enterprise backup and appliances products NetBackup appliances and NetBackup software. Both the products have shown double-digit revenue growth in the quarter. Symantec plans to deliver more powerful advanced threat protection capabilities over the next few quarters.
Its Board of Directors has declared a quarterly cash dividend of USD 0.15 per common share. This will be paid on March 18 2015, to all shareholders on record as of the close of business on February 26, 2015. The ex-dividend date will be February 24, 2015. Symantec’s Board of Directors has also approved a new $1 billion share repurchase program, as declared in a separate Press communication.
Speaking of the results and its impact in the industry, Michael A. Brown, president and CEO, said, “Cyber attacks continue to dominate the headlines with more than 70 percent of these still occurring at the endpoint. By harnessing Symantec’s vast threat telemetry to deliver actionable insight, we continue to prevent attacks at hundreds of millions of enterprise and consumer endpoints.”
Thomas Seifert, executive vice president and CFO, has been quoted as saying, “Driving operational efficiencies across the company has allowed us to achieve our 30 percent operating margin target. We saw implied billings growth for three consecutive quarters on a constant currency basis, in addition to a 21 percent increase in large deals, underlining that the momentum in our businesses is strong.”
