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McAfee Inc.'s (MFE) fourth-quarter net income more than tripled as revenue increased amid double-digit growth in its corporate and consumer segments, showing that security software spending is holding up better than some parts of information-technology industry.

The Santa Clara, Ca.-based antivirus software maker's results and its first-quarter earnings view, which topped revenue expectations, Thursday helped send shares up almost 3% in after market trading.

On an upbeat call with investors after the results were posted, executives said they were benefiting from a five-fold growth in the creation of viruses and computer threats during 2008. Executives said a number of deals struck over the past two years with computer manufacturers such as Lenovo and Acer and telecoms companies to bundle McAfee's products had also helped the company increase market share.

McAfee reported net income of $45.4 million, or 29 cents a share, up from $12.2 million, or 7 cents a share, a year earlier. Excluding stock-based compensation and the amortization of intangibles, earnings rose to 53 cents from 46 cents a share.

Revenue increased 19% to $424 million.

In October, the company projected earnings of 50 cents to 56 cents on revenue of $400 million to $420 million.

Gross margin fell to 75.2% from 75.8%.

Revenue increased 16% in the consumer segment, while the corporate segment grew 21%.

Revenue rose 25% and 12% for North America and international regions, respectively.

Looking ahead, the company expects first-quarter per-share earnings of 46 cents to 50 cents on revenue of $440 million to $460 million. Analysts polled by Thomson Reuters projected 50 cents and $424 million, respectively.

Chief Executive Officer Dave DeWalt and Chief Financial Officer Rocky Pimentel said on a conference call with reporters that the company hadn't had to discount or lower prices on its software products to close deals in the fourth quarter. Looking to the first quarter of 2009, the company expects double-digit revenue growth in all its business segments.

Nevertheless, the company is putting in place some cost-saving measures such as freezing hiring and company salaries and restricting travel, which Pimentel said was expected to save around $50 million in costs in 2009.

McAfee, which was added to the S&P 500 in December, has been purchasing smaller companies, especially those whose stocks have tumbled amid the broad market sell-off. Analysts believe its strong product portfolio and business deals will help the company fend off the worst of the gloom in 2009.

Rival Symantec Corp. (SYMC) last month topped sales estimates but said it still swung to a net loss for its fiscal third quarter as it took a $7 billion goodwill impairment charge.

McAfee shares rose 2.9% to $31.02 in after-hours trading. The company's stock has lost about a quarter of its value from September, amid a broad sell-off in IT stocks.

-By John Kell, Dow Jones Newswires; 201-938-5285; john.kell@dowjones.com

-By Jessica Hodgson, Dow Jones Newswires; 415 439 6455, jessica.hodgson@dowjones.com