Symantec reports 39 percent revenue growth in fiscal first quarter


Announces the Acquisitions of Recourse Technologies, Riptech and SecurityFocus.


July 17, 2002, Mumbai: Symantec Corp. (Nasdaq: SYMC), the world leader in Internet security technology, today reported results for the fiscal first quarter 2003, ended June 30, 2002. Symantec posted revenue for the quarter of $316 million, a 39 percent increase compared to $228 million for the same quarter last year. Performance was driven by 35 percent growth in Symantec's enterprise security business and 90 percent growth in the consumer business, with strong growth across all geographies. In addition, Symantec announced the acquisitions of Recourse Technologies, Riptech, Inc. and SecurityFocus for a total of approximately $355 million in cash.

Pro Forma Results: Pro forma net income before one-time charges and the amortization of acquisition-related intangible assets for the fiscal first quarter was $65.6 million, compared to $33.9 million from the same quarter last year. Symantec reported pro forma earnings per share of $0.41, compared to pro forma earnings per share of $0.22 for the year-ago quarter.

GAAP Results: Net income including one-time charges and the amortization of acquisition-related intangible assets for the first quarter was $56.6 million, compared to a net loss of $21.2 million from the same quarter last year. Symantec reported earnings per share of $0.36, compared to a net loss per share of $0.14 for the year-ago quarter. One-time charges for the quarter include expenses related to restructuring.

"During the quarter, we continued to see strength in our consumer business coupled with an acceleration in the growth of our enterprise security business," said John W. Thompson, Symantec Chairman and CEO. "The acquisitions we announced today bring next generation security technology, products and services that will help us to better serve the needs of our customers and continue to deliver strong top and bottom-line growth."

The acquisition of Recourse Technologies allows Symantec to deliver both a market-proven, gigabit-performance network intrusion detection product, ManHunt, and the industry-leading, host-based solution, IntruderAlert, to customers. Riptech, Inc., the premier provider of scalable, real-time managed security services, allows Symantec to offer global customers a cost-effective solution for protecting their networks across the broadest range of sensors.

Combining SecurityFocus' world-class vulnerability database and early warning threat management products with Symantec's antivirus research and response capabilities will provide customers with the most comprehensive security protection available.

For the quarter, Symantec's worldwide enterprise security business represents 42 percent of total revenue and grew 35 percent compared to the same quarter last year. Performance in the enterprise security business was supported by 31 percent growth in firewall/VPN sales, 39 percent growth in vulnerability management sales and 41 percent growth in antivirus sales compared to the same quarter last year.

Symantec's enterprise administration business represents 18 percent of total revenue and declined 6 percent. However, the Ghost business continues to meet expectations with 20 percent growth compared to the same quarter last year. Symantec's security services business grew 60 percent during the quarter and represents 1 percent of total revenue. Symantec's consumer business represents 39 percent of total revenue and grew at 90 percent, supported by an unexpectedly strong 133 percent growth in consumer antivirus sales compared to a relatively lower level of sales in the same quarter last year.

International revenues represent 47 percent of total revenue in the first quarter and grew by 40 percent over the same quarter last year. Sales in Canada led the increase with 122 percent year-over-year growth followed by sales in Japan at 59 percent growth, sales in Europe, Middle East and Africa at 32 percent growth, sales in Latin America at 26 percent growth and sales in Asia Pacific at 23 percent growth.

Quarterly Highlights

Symantec generated 126 contracts worldwide worth more than $100,000, including 23 worth more than $300,000 and five worth more than $1 million, during the quarter. Symantec signed new or extended agreements with customers including Hewlett Packard, Rohm and Haas Company, the US Army; the Hungarian Ministry of the Interior, the New York City Board of Education, Indiana University and the University of Texas M.D. Anderson Cancer Clinic.
The company's enterprise success is punctuated by the continued expansion of its worldwide customer base, featuring contracts with 28 Global 500 and 16 Fortune 100 companies including six of the world's largest banks, three of the world's largest electronics companies, two of the world's largest auto makers, three of the world's largest pharmaceutical companies, three of the world's largest telecommunications companies and two of the largest health care providers in the United States.
In a report entitled "Western European Security Software Forecast and Analysis 2001 - 2006" (IDC #IS02J), industry analyst firm IDC ranked Symantec as "the new undisputed European security software champion," with 10 percent market share. The report analyzes five core Internet security markets and ranks companies' performance in each of them: Firewall/VPN, Secure Content Management, Intrusion Detection/Vulnerability Assessment, 3A security software, and Encryption software.
Symantec shipped the high-end versions of the Symantec Gateway Security appliance during the quarter, earning recognition as being "in a class by itself" in a review by PC Magazine which also stated "Its wealth of features make the Gateway a solid, all-around security appliance for growing small and medium-size businesses and enterprise-branch offices."
During the quarter, Symantec's Managed Security Services' security operations centers were awarded certification under the British Standard (BS) 7799, a comprehensive specification that defines the requirements for establishing, implementing, and documenting an effective information security management system. BS7799 certification at the security operations centers assures Symantec customers and partners that their information and data are protected through controlled procedures, policies, and best practices.


Symantec Enterprise Firewall 7.0 earned Common Criteria Evaluation Assurance Level 4 (EAL4) certification. This prestigious certification assures customers that Symantec Enterprise Firewall has gone through a long and rigorous testing process and conforms to standards sanctioned by the International Standards Organization.


Symantec's Norton AntiVirus and Norton SystemWorks continue to earn industry accolades with PC Magazine Editors' Choice awards and World Class Awards from PC World Magazine. Norton AntiVirus also earned the prestigious Editors' Choice award from CNET, based on its excellent track record against viruses, as well as its simple interface, ability to scan both incoming and outgoing e-mail attachments, and unique support for Windows XP.


 
   
 

Andhra Pradesh IT training order for NIIT to cover 3 lakh students in 663 High schools


Hydrabad -July 19, 2002. keralamonitor.com

The Government of Andhra Pradesh took yet another lead in promoting IT in the State today. Over 3 lakh students pursuing their high school education in 663 government schools will get trained in computers by Asia’s largest and the most respected IT training institution, NIIT.

July 19, 2002, New Delhi: The training order involves setting up 663 modern computer classrooms with over 8,000 computers and implementation of computer education in high schools in the State. NIIT was successfully awarded the contract, through an open tender process front-ended by Andhra Pradesh Technical Services (APTS).

"Under the leadership of Andhra Pradesh Chief Minister Shri Chandrababu Naidu, the State has taken a lead over others in launching several e-governance projects, including computerisation and single point access to the state’s land records," said Dr I V Subba Rao, Secretary Education, Govt. of Andhra Pradesh.

"This pathbreaking initiative by the Andhra Pradesh Government will broad base IT education by taking it to deep interiors of the State. We are happy to partner with NIIT in our endeavour to build an IT literate Andhra Pradesh," Dr Subba Rao added.

NIIT has been successfully offering Computer Education in 371 Government schools in Tamil Nadu for the last three years and in 700 Government Schools in Karnataka for over a year now. In addition, NIIT offers training in about 100 schools each in Punjab & West Bengal and 300 private public schools through its K-12 Independent Business Unit.

NIIT Chairman Rajendra S Pawar said, "The fact that 300,000 students in Andhra Pradesh schools shall be looking up to us, day after day, to shape their future puts on our shoulders, a huge responsibility and spurs us to do our best."

The agreement for this five year, Rs 155 crore, assignment was signed between AP Education Secretary Dr I V Subba Rao and NIIT’s Head of
K-12 Business and Sr Vice President L Balasubramanian.

"This prestigious assignment fits in with NIIT’s aspirations of ‘Building a Computer Literate India’ and will leverage our vast experience and expertise of training in 2000 schools in India," said NIIT Chief Operating Officer P Rajendran.

"We have geared all our resources and systems integration expertise to set up 663 class rooms with modern computers, software and Internet connections, within the stipulated time," he added.

With this contract from AP Government, NIIT’s computer training engagement now spreads over 2000 government schools in India covering over 7,50,000 students, establishing it as the country’s largest IT Education Services Provider in the K-12 segment.

"As part of this single biggest schools computer education project, NIIT will be setting up computer classrooms in government schools across Andhra Pradesh with the latest software, networking technology, Internet connectivity and the most modern computers," said Mr L Balasubramanian.

This assignment will lead to the creation of over 1300 new jobs in a span of just 30 days. NIIT will also create computer books, provide competent faculty and begin training of students in the academic year 2002. A web site for each group of schools will be created. NIIT will also work towards enhancement of the skill base of Andhra Pradesh by using these schools to provide state-of-the-art computer education to local citizens in the post school hours.

NIIT will be fully leveraging its expertise in Systems Integration, Educational Process Management, Project Management, Infrastructure Planning and Digital Content Creation for successful execution of this project.

About NIIT Training
NIIT pioneered IT training in India in 1981 and has evolved from a predominantly education company to an IT Solutions Corporation with balanced Software and Education revenues and a presence in 38 countries.

NIIT’s distinct training programs include Futurz--A series of programs of varying duration leading to GNIIT title. CATS--Curriculum for Advanced Technologies Studies--offer training on advanced technologies. SWIFT--Short Work Programs in Information Technology - caters to the literacy needs of people keen to learn computers Internet. LEDA-Learning through Exploration, Discovery & Adventure-designed exclusively for school children.

NIIT is the first and the only Asian Education and Training Organization to feature among the IDC top 15 global IT training market leaders. The company has been conferred the "'Best Training Company Award’ by Microsoft 2001." In a May 2002 survey by Dataquest, India’s leading computer industry magazine, NIIT has been voted as the First choice of recruiters.

NIIT has endeavoured to make quality computer education and computer through education accessible to schoolchildren. Today NIIT K-12 is a leader in India providing a complete IT integration program for schools in the Government as well the private system.

Since its inception in 1982, NIIT has committed towards developing computer literate and technology savvy citizens. To cater to the IT learning needs of school children, the company set up NIIT K-12, Independent Business Unit in October 2000.

Besides participating in the statewide computer training program initiated by various state governments, NIIT is also working with the Malaysian Multimedia Super Corridor smart schools project to create educational multimedia content. The curriculum, on the latest multimedia platform, includes appropriate simulations and animation and is being created in Bahasa Melayu, the national language of Malaysia. This was the first instance that NIIT developed school content in the vernacular. Subsequently it has developed IT content in the vernacular for large Government projects on numerous occasions. NIIT now possesses 1700 hours of Multimedia educational content on different topics.

NIIT K-12 also provides turnkey IT integration program in the private schools segment wherein schools are tied up on an individual basis. NIIT@School is a complete IT integration program providing the following benefits such as Infrastructure consultancy, Facilities management, IT education, Courseware and certification, multimedia content on various subjects, Faculty, Teacher’s training, School administration automation, Syllabus mapping and Time tabling..

Sherwood College, Nainital, DAV Public School, Hyderabad, St. Johns Matriculation School, Chennai, The Hyderabad Public School, Hyderabad, Delhi Public School, Mathura, Mater Dei School, Delhi, The Scindia School, Gwalior, K. D. Ambani School, Jamnagar, St. Xavier’s, Kathmandu, Nepal, East West School, Bangalore are some of the institutions successfully adopted this program.

With the latest AP Govt. contract, NIIT offers its training services in 2000 Government and Private Public schools covering over 750000 students across the country.NIIT has invested on technical support, which ensures that every offering matches with world-class support process backed by competent professionals.

The Education, Research and Technology group works closely with schools to understand their requirements, scans the universe for appropriate technology and educational methodologies and comes out with cost effective and innovative solutions. NIIT K-12 has offices in Chennai, Delhi, Mumbai, Calcutta, Bangalore and Hyderabad.

  
 

19 July 2002

Blair announces study to look into problems created by Alcohol in Britain

London --The Prime Minister, Tony Blair, has asked the Strategy Unit to carry
out a project looking at how to tackle the problems associated with
alcohol misuse. The project was announced today by Douglas Alexander, Minister of
State for the Cabinet Office, in response to a parliamentary question
from Mr Kevin Brannan MP (Cardiff West).

Douglas Alexander said:
"The large majority of people who drink do so without causing
themselves or others harm. The focus of this project will be the harm
that can be caused by excessive drinking."

"The project will pay particular attention to issues such as
alcohol-related crime and anti-social behaviour, problems faced by
vulnerable groups such as children and what works best in tackling
the problems of alcohol misuse," he added.

The SU project will take a cross-cutting look at existing activities
in Government departments, and the links with external organisations,
to explore how resources and programmes can be better joined-up to
more effectively address the problems that can be caused by alcohol.

Hazel Blears, Parliamentary Under-Secretary of State for Public
Health, will be Sponsor Minister for the project. She said: "This
project will be the key means of developing the alcohol harm
reduction strategy that the Government is committed to delivering. A
SU project will help combine fresh thinking and rigorous analysis of
the problems. The team will be working closely with the Department of
Health as well as others within and outside Government."