Rochester, NY 8/4/2009 11:58:33 AM
After Hours - Symantec Corporation SYMC, Symantic’s Sales Declines Because of Short-Term Contracts
Symantec Corporation
Security Software specialist Symantec missed stock market analyst first quarter sales and profit estimates, reason is that costumers focused their attention on short-term contracts.
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"On the enterprise side, the customers are spending on shorter-term contracts, and that did result in some reduced new license revenue," Symantec CEO Enrique Salem told TheStreet.com in an interview. "[But] our earnings came in within our guided range because we did a lot of expense management, and we expect that to continue."
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