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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Symantec Corporation | NASDAQ:SYMC | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 23.75 | 23.03 | 23.98 | 0 | 01:00:00 |
Symantec Corporation
|
(Exact Name of Registrant as Specified in Charter)
|
Delaware
|
000-17781
|
77-0181864
|
(State or Other Jurisdiction of
Incorporation)
|
(Commission
File Number)
|
(IRS Employer
Identification No.)
|
350 Ellis Street, Mountain View, CA
|
94043
|
(Address of Principal Executive Offices)
|
(Zip Code)
|
Registrant’s Telephone Number, Including Area Code (650) 527-8000 |
Exhibit Number
|
Exhibit Title or Description
|
99.01
|
Press release issued by Symantec Corporation entitled “Symantec Reports Third Quarter Fiscal Year 2016 Results,” dated February 4, 2016
|
|
|
|
|
|
Symantec Corporation | ||
|
|
||
Date: February 4, 2016
|
By:
|
/s/ Thomas J. Seifert
|
|
Thomas J. Seifert
Executive Vice President and Chief Financial Officer
|
Exhibit Number
|
Exhibit Title or Description
|
99.01
|
Press release issued by Symantec Corporation entitled “Symantec Reports Third Quarter Fiscal Year 2016 Results,” dated February 4, 2016
|
MEDIA CONTACT: | INVESTOR CONTACT: |
Noah Edwardsen
|
Jonathan Doros
|
Symantec Corp.
|
Symantec Corp.
|
424-750-7574
|
650-527-5523
|
noah_edwardsen@symantec.com
|
jonathan_doros@symantec.com
|
●
|
Revenue at high end of guided range; operating margin and EPS exceed guidance
|
●
|
Enterprise Security revenues grew YOY for third consecutive quarter, in constant currency
|
●
|
Announces $500 million strategic investment by Silver Lake, and increases total capital return program to $5.5 billion
|
3Q16 | 3Q15 |
Reported Y/Y
Change
|
FX Adjusted Y/Y Change
|
|||||||||||
GAAP
|
||||||||||||||
Revenue
|
$ | 909 | $ | 970 | (6 | %) | (2 | %) | ||||||
Operating Margin
|
16.1 | % | 3.5 | % |
1,260 bps
|
1,347 bps
|
||||||||
Net Income
|
$ | 170 | $ | 222 | (23 | %) | N/A | |||||||
Deferred Revenue
|
$ | 2,546 | N/A | N/A | N/A | |||||||||
EPS (Diluted)
|
$ | 0.25 | $ | 0.32 | (22 | %) | N/A | |||||||
CFFO
|
$ | 112 | N/A | N/A | N/A | |||||||||
Non-GAAP
|
||||||||||||||
Operating Margin
|
27.9 | % | 34.0 | % |
(610) bps
|
(540) bps
|
||||||||
Net Income
|
$ | 172 | $ | 228 | (25 | %) | N/A | |||||||
EPS (Diluted)
|
$ | 0.26 | $ | 0.33 | (21 | %) | N/A |
4Q16
|
|
GAAP
|
|
Revenue
|
$885 - $915
|
Enterprise Security
|
$480 - $500
|
Consumer Security
|
$405 - $415
|
Operating Margin
|
15.5% - 17.5%
|
EPS (Diluted)
|
$0.15 - $0.18
|
Non-GAAP
|
|
Operating Margin
|
26.0% - 28.0%
|
EPS (Diluted)
|
$0.24 - $0.27
|
Tax Rate
|
27.5%
|
Share Count
|
654 million
|
FX Rate (€/$)
|
$1.09
|
SYMANTEC CORPORATION
|
||||||||
Condensed Consolidated Balance Sheets (1)
|
||||||||
(Dollars in millions, unaudited)
|
||||||||
January 1, 2016
|
April 3, 2015
|
|||||||
ASSETS
|
||||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
$ | 2,213 | $ | 2,843 | ||||
Short-term investments
|
56 | 1,017 | ||||||
Accounts receivable, net
|
490 | 700 | ||||||
Deferred income taxes
|
223 | 152 | ||||||
Deferred commissions
|
52 | 64 | ||||||
Other current assets
|
189 | 231 | ||||||
Current assets held for sale
|
3,950 | 415 | ||||||
Total current assets
|
7,173 | 5,422 | ||||||
Property and equipment, net
|
986 | 950 | ||||||
Intangible assets, net
|
464 | 525 | ||||||
Goodwill
|
3,146 | 3,146 | ||||||
Long-term deferred commissions
|
11 | 9 | ||||||
Other long-term assets
|
156 | 71 | ||||||
Long-term assets held for sale
|
- | 3,110 | ||||||
Total assets
|
$ | 11,936 | $ | 13,233 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY
|
||||||||
Current liabilities:
|
||||||||
Accounts payable
|
$ | 241 | $ | 169 | ||||
Accrued compensation and benefits
|
203 | 232 | ||||||
Deferred revenue
|
2,180 | 2,427 | ||||||
Current portion of long-term debt
|
- | 350 | ||||||
Other current liabilities
|
271 | 339 | ||||||
Current liabilities held for sale
|
932 | 936 | ||||||
Total current liabilities
|
3,827 | 4,453 | ||||||
Long-term debt
|
1,740 | 1,746 | ||||||
Long-term deferred revenue
|
366 | 444 | ||||||
Long-term deferred tax liabilities
|
399 | 308 | ||||||
Long-term income taxes payable
|
140 | 134 | ||||||
Other long-term obligations
|
70 | 79 | ||||||
Long-term liabilities held for sale
|
- | 134 | ||||||
Total liabilities
|
6,542 | 7,298 | ||||||
Total stockholders' equity
|
5,394 | 5,935 | ||||||
Total liabilities and stockholders' equity
|
$ | 11,936 | $ | 13,233 |
SYMANTEC CORPORATION
|
||||||||||||||||
Condensed Consolidated Statements of Operations (1)
|
||||||||||||||||
(In millions, except per share data, unaudited)
|
||||||||||||||||
|
Year-Over-Year
|
|||||||||||||||
Three Months Ended
|
Growth Rate
|
|||||||||||||||
January 1,
|
January 2,
|
Constant
|
||||||||||||||
2016
|
2015
|
Actual
|
Currency (2)
|
|||||||||||||
Net revenues
|
$ | 909 | $ | 970 | -6 | % | -2 | % | ||||||||
Costs of revenues
|
150 | 177 | -15 | % | -13 | % | ||||||||||
Gross profit
|
759 | 793 | -4 | % | 0 | % | ||||||||||
Operating expenses:
|
||||||||||||||||
Sales and marketing
|
308 | 403 | ||||||||||||||
Research and development
|
174 | 193 | ||||||||||||||
General and administrative
|
68 | 91 | ||||||||||||||
Amortization of intangible assets
|
13 | 21 | ||||||||||||||
Restructuring, separation, and transition
|
50 | 51 | ||||||||||||||
Total operating expenses
|
613 | 759 | -19 | % | -16 | % | ||||||||||
Operating income
|
146 | 34 | 329 | % | 364 | % | ||||||||||
Interest income
|
1 | 3 | ||||||||||||||
Interest expense
|
(17 | ) | (19 | ) | ||||||||||||
Other income (expense), net
|
(1 | ) | 1 | |||||||||||||
Income from continuing operations before income taxes
|
129 | 19 | 579 | % | N/A | |||||||||||
Provision for income taxes
|
15 | 44 | ||||||||||||||
Income (loss) from continuing operations
|
114 | (25 | ) | |||||||||||||
Income from discontinued operations, net of income taxes
|
56 | 247 | ||||||||||||||
Net income
|
$ | 170 | $ | 222 | -23 | % | N/A | |||||||||
Net income (loss) per share – basic:
|
||||||||||||||||
Continuing operations
|
$ | 0.17 | $ | (0.04 | ) | |||||||||||
Discontinued operations
|
0.08 | 0.36 | ||||||||||||||
Net income per share – basic (3)
|
0.26 | 0.32 | ||||||||||||||
Net income (loss) per share – diluted:
|
||||||||||||||||
Continuing operations
|
$ | 0.17 | $ | (0.04 | ) | |||||||||||
Discontinued operations
|
0.08 | 0.36 | ||||||||||||||
Net income per share – diluted (3)
|
0.25 | 0.32 | ||||||||||||||
Weighted-average shares outstanding – basic
|
665 | 689 | ||||||||||||||
Weighted-average shares outstanding – diluted
|
671 | 689 | ||||||||||||||
Cash dividends declared per common share
|
$ | 0.15 | $ | 0.15 |
SYMANTEC CORPORATION
|
||||||||||||
Condensed Consolidated Statements of Operations (1)
|
||||||||||||
(In millions, except per share data, unaudited)
|
||||||||||||
|
Year-Over-Year
|
|||||||||||
Nine Months Ended
|
Growth Rate (2)
|
|||||||||||
January 1,
|
January 2,
|
|||||||||||
2016
|
2015
|
Actual
|
||||||||||
Net revenues
|
$ | 2,727 | $ | 3,057 | -11 | % | ||||||
Costs of revenues
|
468 | 551 | -15 | % | ||||||||
Gross profit
|
2,259 | 2,506 | -10 | % | ||||||||
Operating expenses:
|
||||||||||||
Sales and marketing
|
984 | 1,265 | ||||||||||
Research and development
|
571 | 604 | ||||||||||
General and administrative
|
218 | 276 | ||||||||||
Amortization of intangible assets
|
41 | 66 | ||||||||||
Restructuring, separation, and transition
|
116 | 92 | ||||||||||
Total operating expenses
|
1,930 | 2,303 | -16 | % | ||||||||
Operating income
|
329 | 203 | 62 | % | ||||||||
Interest income
|
6 | 9 | ||||||||||
Interest expense
|
(56 | ) | (59 | ) | ||||||||
Other income (expense), net
|
(3 | ) | 6 | |||||||||
Income from continuing operations before income taxes
|
276 | 159 | 74 | % | ||||||||
Provision for income taxes
|
84 | 105 | ||||||||||
Income from continuing operations
|
192 | 54 | ||||||||||
Income from discontinued operations, net of income taxes
|
251 | 648 | ||||||||||
Net income
|
$ | 443 | $ | 702 | -37 | % | ||||||
Net income per share – basic:
|
||||||||||||
Continuing operations
|
$ | 0.28 | $ | 0.08 | ||||||||
Discontinued operations
|
0.37 | 0.94 | ||||||||||
Net income per share – basic
|
0.65 | 1.02 | ||||||||||
Net income per share – diluted:
|
||||||||||||
Continuing operations
|
$ | 0.28 | $ | 0.08 | ||||||||
Discontinued operations
|
0.37 | 0.93 | ||||||||||
Net income per share – diluted
|
0.65 | 1.01 | ||||||||||
Weighted-average shares outstanding – basic
|
677 | 690 | ||||||||||
Weighted-average shares outstanding – diluted
|
683 | 697 | ||||||||||
Cash dividends declared per common share
|
$ | 0.45 | $ | 0.45 |
SYMANTEC CORPORATION
|
||||||||
Condensed Consolidated Statements of Cash Flows (1)
|
||||||||
(Dollars in millions, unaudited)
|
||||||||
Nine Months Ended
|
||||||||
January 1, 2016
|
January 2, 2015
|
|||||||
OPERATING ACTIVITIES:
|
||||||||
Net income
|
$ | 443 | $ | 702 | ||||
Income from discontinued operations
|
(251 | ) | (648 | ) | ||||
Adjustments to reconcile income from continuing operations to net cash provided by (used in) continuing operating activities:
|
||||||||
Depreciation
|
161 | 173 | ||||||
Amortization of intangible assets
|
63 | 92 | ||||||
Amortization of debt issuance costs and discounts
|
3 | 3 | ||||||
Stock-based compensation expense
|
118 | 94 | ||||||
Deferred income taxes
|
63 | 29 | ||||||
Excess income tax benefit from the exercise of stock options
|
(6 | ) | (6 | ) | ||||
Other
|
14 | 8 | ||||||
Net change in assets and liabilities, excluding effects of acquisitions:
|
||||||||
Accounts receivable, net
|
26 | 24 | ||||||
Deferred commissions
|
10 | (4 | ) | |||||
Accounts payable
|
61 | (69 | ) | |||||
Accrued compensation and benefits
|
(23 | ) | (2 | ) | ||||
Deferred revenue
|
(175 | ) | (199 | ) | ||||
Income taxes payable
|
(94 | ) | (237 | ) | ||||
Other assets
|
(49 | ) | 18 | |||||
Other liabilities
|
(48 | ) | (28 | ) | ||||
Net cash provided by (used in) continuing operating activities
|
316 | (50 | ) | |||||
Net cash provided by discontinued operating activities
|
230 | 874 | ||||||
Net cash provided by operating activities
|
546 | 824 | ||||||
INVESTING ACTIVITIES:
|
||||||||
Purchases of property and equipment
|
(225 | ) | (249 | ) | ||||
Payments for acquisitions, net of cash acquired, and purchases of intangibles
|
(4 | ) | (39 | ) | ||||
Purchases of short-term investments
|
(377 | ) | (1,429 | ) | ||||
Proceeds from maturities of short-term investments
|
1,038 | 495 | ||||||
Proceeds from sales of short-term investments
|
299 | 270 | ||||||
Net cash provided by (used in) continuing investing activities
|
731 | (952 | ) | |||||
Net cash used in discontinued investing activities
|
(57 | ) | (51 | ) | ||||
Net cash provided by (used in) investing activities
|
674 | (1,003 | ) | |||||
FINANCING ACTIVITIES:
|
||||||||
Repayments of debt and other obligations
|
(368 | ) | (19 | ) | ||||
Net proceeds from sales of common stock under employee stock benefit plans
|
63 | 78 | ||||||
Excess income tax benefit from the exercise of stock options
|
6 | 6 | ||||||
Tax payments related to restricted stock units
|
(35 | ) | (30 | ) | ||||
Dividends and dividend equivalents paid
|
(312 | ) | (311 | ) | ||||
Repurchases of common stock
|
(868 | ) | (375 | ) | ||||
Proceeds from other financing, net
|
- | 36 | ||||||
Net cash used in continuing financing activities
|
(1,514 | ) | (615 | ) | ||||
Net cash used in discontinued financing activities
|
(17 | ) | (7 | ) | ||||
Net cash used in financing activities
|
(1,531 | ) | (622 | ) | ||||
Effect of exchange rate fluctuations on cash and cash equivalents
|
(51 | ) | (142 | ) | ||||
Change in cash and cash equivalents
|
(362 | ) | (943 | ) | ||||
Beginning cash and cash equivalents
|
2,874 | 3,707 | ||||||
Ending cash and cash equivalents
|
2,512 | 2,764 | ||||||
Less: Cash and cash equivalents of discontinued operations
|
299 | 30 | ||||||
Cash and cash equivalents of continuing operations
|
$ | 2,213 | $ | 2,734 |
SYMANTEC CORPORATION
|
||||||||||||||||||||||||||||||
Reconciliation of Selected GAAP Measures to Non-GAAP Measures (1)
|
||||||||||||||||||||||||||||||
(In millions, except per share data, unaudited)
|
||||||||||||||||||||||||||||||
Year-Over-Year
|
||||||||||||||||||||||||||||||
Three Months Ended
|
Non-GAAP Growth Rate
|
|||||||||||||||||||||||||||||
January 1, 2016
|
January 2, 2015
|
Constant
|
||||||||||||||||||||||||||||
GAAP
|
Adj
|
Non-GAAP
|
GAAP
|
Adj
|
Non-GAAP
|
Actual
|
Currency (2)
|
|||||||||||||||||||||||
Net revenues
|
$ | 909 | $ | - | $ | 909 | $ | 970 | $ | - | $ | 970 | -6 | % | -2 | % | ||||||||||||||
Gross profit:
|
$ | 759 | $ | 10 | $ | 769 | $ | 793 | $ | 21 | $ | 814 | -6 | % | -1 | % | ||||||||||||||
Unallocated corporate charges (3)
|
- | 9 | ||||||||||||||||||||||||||||
Stock-based compensation
|
3 | 4 | ||||||||||||||||||||||||||||
Amortization of intangible assets
|
7 | 8 | ||||||||||||||||||||||||||||
Gross margin %
|
83.5 | % | 1.1 | % | 84.6 | % | 81.8 | % | 2.1 | % | 83.9 | % |
70 bps
|
80 bps
|
||||||||||||||||
Operating expenses:
|
$ | 613 | $ | 98 | $ | 515 | $ | 759 | $ | 275 | $ | 484 | 6 | % | 10 | % | ||||||||||||||
Unallocated corporate charges (3)
|
- | 173 | ||||||||||||||||||||||||||||
Stock-based compensation
|
35 | 30 | ||||||||||||||||||||||||||||
Amortization of intangible assets
|
13 | 21 | ||||||||||||||||||||||||||||
Restructuring, separation, and transition
|
50 | 51 | ||||||||||||||||||||||||||||
Operating expenses as a % of revenue
|
67.4 | % | -10.7 | % | 56.7 | % | 78.2 | % | -28.3 | % | 49.9 | % |
680 bps
|
620 bps
|
||||||||||||||||
Operating income
|
$ | 146 | $ | 108 | $ | 254 | $ | 34 | $ | 296 | $ | 330 | -23 | % | -18 | % | ||||||||||||||
Operating margin %
|
16.1 | % | 11.8 | % | 27.9 | % | 3.5 | % | 30.5 | % | 34.0 | % |
-610 bps
|
-540 bps
|
||||||||||||||||
Net income:
|
$ | 170 | $ | 2 | $ | 172 | $ | 222 | $ | 6 | $ | 228 | -25 | % | N/A | |||||||||||||||
Gross profit adjustment
|
10 | 21 | ||||||||||||||||||||||||||||
Operating expense adjustment
|
98 | 275 | ||||||||||||||||||||||||||||
Income tax effects and adjustments
|
(50 | ) | (43 | ) | ||||||||||||||||||||||||||
Income from discontinued operations, net of taxes
|
(56 | ) | (247 | ) | ||||||||||||||||||||||||||
Diluted net income (loss) per share:
|
||||||||||||||||||||||||||||||
Diluted net income (loss) per share from continuing operations
|
$ | 0.17 | $ | 0.09 | $ | 0.26 | $ | (0.04 | ) | $ | 0.37 | $ | 0.33 | |||||||||||||||||
Diluted net income (loss) per share from discontinued operations
|
0.08 | (0.08 | ) | - | 0.36 | (0.36 | ) | - | ||||||||||||||||||||||
Diluted net income per share
|
0.25 | 0.01 | 0.26 | 0.32 | 0.01 | 0.33 | -21 | % | N/A | |||||||||||||||||||||
Diluted weighted-average shares outstanding
|
671 | - | 671 | 689 | - | 689 | -3 | % | N/A |
SYMANTEC CORPORATION
|
||||||||
Revenue and Deferred Revenue Detail (1)
|
||||||||
(Dollars in millions, unaudited)
|
||||||||
Three Months Ended
|
||||||||
January 1, 2016 |
January 2, 2015
|
|||||||
GAAP Revenues
|
||||||||
Content, subscription, and maintenance
|
$ | 868 | $ | 930 | ||||
License
|
41 | 40 | ||||||
Total Revenues
|
$ | 909 | $ | 970 | ||||
GAAP Revenues - Y/Y Growth Rate
|
||||||||
Content, subscription, and maintenance
|
-7 | % | -8 | % | ||||
License
|
3 | % | 8 | % | ||||
Total Y/Y Growth Rate
|
-6 | % | -8 | % | ||||
GAAP Revenues - Y/Y Growth Rate in Constant Currency (2)
|
||||||||
Content, subscription, and maintenance
|
-2 | % | -5 | % | ||||
License
|
5 | % | 15 | % | ||||
Total Y/Y Growth Rate in Constant Currency (2)
|
-2 | % | -4 | % | ||||
GAAP Revenues by Segment
|
||||||||
Consumer Security
|
$ | 414 | $ | 461 | ||||
Enterprise Security
|
495 | 509 | ||||||
GAAP Revenues by Segment - Y/Y Growth Rate
|
||||||||
Consumer Security
|
-10 | % | -11 | % | ||||
Enterprise Security
|
-3 | % | -5 | % | ||||
GAAP Revenues by Segment - Y/Y Growth Rate in Constant Currency (2)
|
||||||||
Consumer Security
|
-6 | % | -7 | % | ||||
Enterprise Security
|
1 | % | -2 | % | ||||
GAAP Revenues by Geography
|
||||||||
International
|
$ | 425 | $ | 474 | ||||
U.S.
|
484 | 496 | ||||||
Americas (U.S., Latin America, Canada)
|
539 | 551 | ||||||
EMEA
|
224 | 259 | ||||||
Asia Pacific & Japan
|
146 | 160 | ||||||
GAAP Revenues by Geography - Y/Y Growth Rate
|
||||||||
International
|
-10 | % | -12 | % | ||||
U.S.
|
-2 | % | -4 | % | ||||
Americas (U.S., Latin America, Canada)
|
-2 | % | -5 | % | ||||
EMEA
|
-14 | % | -9 | % | ||||
Asia Pacific & Japan
|
-9 | % | -14 | % | ||||
GAAP Revenues by Geography - Y/Y Growth Rate in Constant Currency (2)
|
||||||||
International
|
-2 | % | -5 | % | ||||
U.S.
|
-2 | % | -4 | % | ||||
Americas (U.S., Latin America, Canada)
|
-2 | % | -6 | % | ||||
EMEA
|
-2 | % | -1 | % | ||||
Asia Pacific & Japan
|
-2 | % | -6 | % | ||||
GAAP Deferred Revenue
|
$ | 2,546 | – |
SYMANTEC CORPORATION
|
||||||||
Operating Margin by Segment Detail (1)
|
||||||||
(Dollars in millions, unaudited)
|
||||||||
Three Months Ended
|
||||||||
January 1, 2016
|
January 2, 2015
|
|||||||
Operating Income by Segment
|
||||||||
Consumer Security
|
$ | 230 | $ | 245 | ||||
Enterprise Security
|
24 | 85 | ||||||
Total Operating Income by Segment
|
254 | 330 | ||||||
Reconciling Items:
|
||||||||
Unallocated corporate charges (2)
|
- | 182 | ||||||
Stock-based compensation
|
38 | 34 | ||||||
Amortization of intangible assets
|
20 | 29 | ||||||
Restructuring, separation, and transition
|
50 | 51 | ||||||
Total Consolidated Operating Income
|
$ | 146 | $ | 34 | ||||
Operating Margin by Segment
|
||||||||
Consumer Security
|
56 | % | 53 | % | ||||
Enterprise Security
|
5 | % | 17 | % |
Fourth Quarter Fiscal Year 2016
|
|||||
|
Year Ended April 1, 2016
|
||||
Year-Over-Year Growth Rate (3)
|
|||||
Revenue Guidance (2) |
Range
|
Actual
|
Constant Currency (4)
|
||
Revenue range
|
$885 - $915
|
(4.7%) - (1.5%)
|
(3.6%) - (0.3%)
|
Year Ended April 1, 2016
|
|||||
Year-Over-Year Increase
|
|||||
Operating Margin Guidance and Reconciliation (2)
|
Range
|
Actual
|
Constant Currency (4)
|
||
GAAP operating margin
|
15.5% - 17.5%
|
- | - | ||
Add back:
|
|||||
Stock-based compensation
|
5.0%
|
||||
Other non-GAAP adjustments
|
5.5%
|
||||
Non-GAAP operating margin
|
26.0% - 28.0%
|
- | - | ||
Year Ended April 1, 2016
|
|||||
Year-Over-Year Growth Rate
|
|||||
Earnings Per Share Guidance and Reconciliation (5)
|
Range
|
Actual
|
|||
GAAP diluted earnings per share range
|
$0.15 - $0.18
|
- | |||
Add back:
|
|||||
Stock-based compensation, net of taxes
|
$0.05
|
||||
Other non-GAAP adjustments, net of taxes
|
$0.04
|
||||
Non-GAAP diluted earnings per share range
|
$0.24 - $0.27
|
- | |||
(1) This presentation includes non-GAAP measures. Non-GAAP financial measures are supplemental and should not be considered a substitute for financial information presented in accordance with GAAP. For a detailed explanation of these non-GAAP measures, please see Appendix A.
|
|||||
(2) These figures represent guidance for our expected continuing operations and include our security business, which consists of Enterprise Security and Consumer Security segments.
|
|||||
(3) Growth rates are calculated using fourth quarter fiscal year 2015 non-GAAP revenue.
|
|||||
(4) Management refers to growth rates adjusting for currency fluctuations in foreign currency exchange rates so that the business results can be viewed without the impact of these fluctuations. We compare the percent change of the results from one period to another period in order to provide a consistent framework for assessing how our underlying businesses performed. To exclude the effects of foreign currency rate fluctuations, current and comparative prior period results for entities reporting in currencies other than United States dollars are converted into United States dollars at the actual exchange rates in effect during the respective prior periods.
|
|||||
(5) The impact from Veritas is included in GAAP EPS, but excluded from non-GAAP EPS. In addition, we are currently unable to estimate any gain on the sale of Veritas and it has therefore been excluded from our guidance. |
Three Months Ended | ||||||||
January 1
2016
|
January 2,
2015
|
|||||||
Cost of revenue | $ | 3 | $ | 4 | ||||
Sales and marketing | 12 | 11 | ||||||
Research and development | 14 | 11 | ||||||
General and administrative | 9 | 8 | ||||||
Total continuing operations stock-based compensation | $ | 38 | $ | 34 |
1 Year Symantec Chart |
1 Month Symantec Chart |
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