Symantec Says Sales Will Meet Forecast
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Symantec Corp., a maker of software that fends off computer viruses and hacker attacks, will report first-quarter sales that are at the upper end of its forecast, Chief Executive John Thompson said.
The computer-security company had forecast sales of $280 million to $290 million in the quarter ending June 30 and profit, excluding certain costs, of 32 cents a share. Profit is expected to exceed that forecast, which was based on sales in the middle of the range, Thompson said during a presentation at a Bear Stearns Cos. technology conference in New York.
Symantec, based in Cupertino, Calif., expects sales in its fiscal year ending in March of $1.22 billion to $1.25 billion, an increase of as much as 17% from a year earlier.
The company expects earnings for the year to be $1.42 a share, based on sales at the middle of that range.
Symantec shares rose 81 cents to $31.15 on Nasdaq.
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