According to Gartner, “Mobile data protection (MDP) systems and procedures are needed to protect data privacy and to comply with audit requirements, and every company must include MDP in its IT operations plan.” Moreover, “MDP is an established market with two primary purposes: first and foremost, to protect data by encryption; and second, to provide evidence that the protection is working.”

The report also notes, “mobile data protection products secure data on movable storage systems in notebooks/laptops, smartphones and removable media. They may also be used on desktops and servers. Buyers want common protection policies across multiple platforms, minimal support demands and proof that data is protected.”

Factors contributing to a company’s ability to execute include products and services, overall viability, sales and marketing execution, and customer experience. Gartner evaluates a company’s completeness of vision by considering in part its market understanding, sales and marketing strategy, offering or product strategy, business model, and innovation.

“We believe the McAfee position in the leaders quadrant confirms our commitment to help companies protect their confidential data on a wide range of end-user computing devices,” said Candace Worley, general manager, endpoint protection business unit at McAfee. “McAfee continues to invest in making our solutions the most comprehensive in the market with strong encryption, authentication, data loss prevention and centralized, policy driven security. Our recent acquisitions of Trust Digital and TenCube are demonstrations of this commitment.”

McAfee mobile data protection solutions and suites are customizable to meet current and future organizational needs. The offerings consist of a comprehensive set of modular solutions with an integrated, centralized management platform. The McAfee ePolicy Orchestrator platform provides centralized deployment, management, policy administration, password recovery, monitoring, auditing and proof of compliance resulting in consistent and simplified management.

To view the Magic Quadrant for Mobile Data Protection, visit: http://resources.mcafee.com/content/NAMobileDataMQReport.

About the Magic Quadrant

The Magic Quadrant is copyrighted 2010 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner’s analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the “Leaders” quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About McAfee, Inc.

McAfee, Inc., headquartered in Santa Clara, California, is the world’s largest dedicated security technology company. McAfee delivers proactive and proven solutions and services that help secure systems, networks, and mobile devices around the world, allowing users to safely connect to the Internet, browse and shop the Web more securely. Backed by unrivaled McAfee Global Threat Intelligence, McAfee creates innovative products that empower home users, businesses, the public sector and service providers by enabling them to prove compliance with regulations, protect data, prevent disruptions, identify vulnerabilities, and continuously monitor and improve their security. McAfee secures your digital world. http://www.mcafee.com

NOTE: McAfee is a registered trademark or trademark of McAfee, Inc. or its subsidiaries in the United States and other countries. Other marks may be claimed as the property of others. The product plans, specifications and descriptions herein are provided for information only and subject to change without notice, and are provided without warranty of any kind, express or implied.

1 Gartner, Inc. “Magic Quadrant for Mobile Data Protection” by John Girard, September 7, 2010

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According to Gartner, vendors who appear in the leader’s quadrant “have demonstrated good understanding of client needs and offer comprehensive capabilities in all three functional areas — network, discovery and endpoint — directly or through well-established partnerships and tight integration. They offer aggressive road maps, and they will need to execute on those road maps, fully incorporate enhanced features currently in development and address evolving market needs to remain in the Leaders quadrant.”

“Our customers and their business-sensitive data need monitoring and protection as the threat landscape continues to evolve. McAfee delivers cost-effective, intuitive data discovery and features that not only protect the business, but enable it,” said Marc Olesen, senior vice president & general manager of Content Security at McAfee. “Cost and complexity have always been, and will continue to be, a major concern for organizations. McAfee is uniquely positioned to continue driving data loss protection technology into and across corporate security infrastructure, including agents, web, mail, and cloud offerings to simultaneously drive simplicity while increasing capability and scale beyond the enterprise.”

McAfee® Data Loss Prevention delivers the highest levels of protection for all types of sensitive data, while greatly reducing the cost and complexity of safeguarding business critical information. McAfee data protection is delivered through our low-maintenance appliance and the McAfee® ePolicy Orchestrator® platform, for streamlined deployment, management, updates and reports.

Download the Gartner Magic Quadrant for Content-Aware Data Loss Prevention here: http://www.mcafee.com/us/campaigns/gartner_dlp/

About the Magic Quadrant

The Magic Quadrant is copyrighted 2010 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner’s analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the “Leaders” quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About McAfee, Inc.

McAfee, Inc., headquartered in Santa Clara, California, is the world’s largest dedicated security technology company. McAfee is committed to relentlessly tackling the world’s toughest security challenges. The company delivers proactive and proven solutions and services that help secure systems and networks around the world, allowing users to safely connect to the Internet, browse and shop the web more securely. Backed by an award-winning research team, McAfee creates innovative products that empower home users, businesses, the public sector and service providers by enabling them to prove compliance with regulations, protect data, prevent disruptions, identify vulnerabilities, and continuously monitor and improve their security. http://www.mcafee.com

NOTE: McAfee and ePolicy Orchestrator is a registered trademark or trademark of McAfee, Inc. or its subsidiaries in the United States and other countries. Other marks may be claimed as the property of others. The product plans, specifications and descriptions herein are provided for information only and subject to change without notice, and are provided without warranty of any kind, express or implied.

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The Data Loss Prevention (DLP) market is rapidly growing, fueled by ever increasing government and industry regulations and businesses emphasizing the importance of protecting valuable corporate data such as product plans, financial records and intellectual property. Until now, the DLP customer has had to endure such challenges as large amounts of build-out time, cost and effort. McAfee Data Loss Prevention technology changes the game by delivering industry-leading data protection quickly and efficiently. Organizations now have a way to meet their data security needs without the huge expense of endless rounds of consulting and trial and error tuning.

“We found that because the system captures all of the data we can do more with McAfee Data Loss Prevention than other products on the market,” said Mark Moroses, Assistant CIO for Continuum Health Partners in New York. “This is a unique capability and we use it extensively. The system doesn’t just present us with a static view of user rule violations; it allows us to go back in the past and look for patterns of behavior and abuse. This capability has enhanced our ability to investigate incidents more thoroughly and in less time. Our team can now rapidly access more information related to an incident and they can review the past activities of the user under investigation as well. The system gives us the peace of mind that we are not missing anything. This is essential because interrogating anything less than 100% of the information is unacceptable.”

McAfee Data Loss Prevention Technology Differentiators:

According to Gartner, “Organizations have always struggled to balance security and privacy needs with the needs of the business. IT has long sought to enable the business, and now risk management and security must follow suit. We need to learn to embrace transparency, and accommodate the two-way flow of information rather than fearing it. In addition to protecting information, we also need to learn how to enable and guide the appropriate use of information. This is essential if we’re going to take advantage of opportunities as we prepare for the return to growth.”1

The McAfee approach to DLP is unique because it is delivered via pre-integrated, hardened appliances and a host agent that is simply pushed via the ePolicy Orchestrator platform, so data is protected in days, not months. That same ease of use also applies to policy creation, delivering a wealth of knowledge about how data is actually used – providing the ability to test policies against actual data history before putting them into production. Due to this, policies are right the first time without guesswork, costly consulting or the business disruption caused by false positives. That historic data knowledge can also be used to accelerate incident investigations which can be completed in minutes and allows for deep understanding about how organizations use data.

“Due to limitations inherent in legacy DLP solutions, organizations have had to take a brute force approach to protecting data,” said Gerhard Watzinger, executive vice president and general manager of McAfee Data Protection Business Unit. “These approaches are like using a sledge hammer to crack a nut and are usually used because of the high cost and complexity with deployment of traditional DLP. With McAfee Data Loss Prevention technology we can now enable the deployment of DLP that is cost effective and quick to value.”

About McAfee, Inc.

McAfee, Inc., headquartered in Santa Clara, California, is the world’s largest dedicated security technology company. McAfee is committed to relentlessly tackling the world’s toughest security challenges. The company delivers proactive and proven solutions and services that help secure systems and networks around the world, allowing users to safely connect to the Internet, browse and shop the web more securely. Backed by an award-winning research team, McAfee creates innovative products that empower home users, businesses, the public sector and service providers by enabling them to prove compliance with regulations, protect data, prevent disruptions, identify vulnerabilities, and continuously monitor and improve their security. http://www.mcafee.com

1 Paul Proctor, Gartner Symposium/ITXpo 2009 Keynote Address, October 2009

NOTE: McAfee is a registered trademark or trademark of McAfee, Inc. or its subsidiaries in the United States and other countries. Other marks may be claimed as the property of others. The product plans, specifications and descriptions herein are provided for information only and subject to change without notice, and are provided without warranty of any kind, express or implied.

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“Organizations are increasingly concerned with risk mitigation and looking at data governance strategies that align with their business priorities. A fundamental requirement to good governance is defining the sensitive data and identifying data ownership,” said Eric Ouellet, Research VP, Gartner. “The problem of data ownership is huge, especially in the case of unstructured data. By having insight into usage of unstructured data, enterprise organizations will be better able to identify gaps in their strategy, better equipped to define their requirements and better prepared to implement a data governance plan that will reduce their risk posture.”

Data Insight and Data Loss Prevention

Data Insight will first be available as part of Symantec Data Loss Prevention and will be the only data loss prevention solution to deliver an integrated data owner and remediation capability. Unstructured data on shared file systems is a large source of critical business information, and over-exposed content presents a significant risk for data breaches. Data Insight with Symantec Data Loss Prevention helps organizations identify their most critical information and enables simplified data clean-up and remediation through automated data owner identification. Data Insight also provides continuous monitoring and auditing of data usage to help ensure adherence with corporate policies and regulatory compliance. In addition, the technology monitors who has accessed or modified individual files, and can notify information security teams and data owners that data has been exposed. Armed with visibility into who is accessing and using the information, organizations can make rule-based ownership inferences and alter access to stored data in order to prevent data breaches.

Data Insight and Storage Management

According to IDC, the amount of storage capacity shipped in support of file-based storage is expected to grow at a compound annual growth rate of 60.1% from 2008 through 2013, a growth rate three times that of block-based storage¹. It is critical for organizations to optimize the storage costs associated with unstructured data by storing it on the most efficient tier throughout its lifecycle, based on a dynamic classification of its business importance. Storage teams also need to create a system of accountability for unstructured data through storage chargeback reports that outline who owns what and what it is costing the organization. The integration of Data Insight with storage and information solutions from Symantec will enable organizations to optimize their storage costs for unstructured data and make intelligent backup and recovery decisions based on context and frequency of use.

“Organizations are struggling with multiple point solutions to manage and secure their unstructured data and need products to work together to solve problems,” said Greg Hughes, group president, Enterprise Product Group, Symantec. “Data Insight makes life easier for our customers by combining our security and storage prowess to improve data governance.”

Click to Tweet: Symantec Data Insight technology helps organizations understand, manage and protect unstructured data. http://bit.ly/d655Ar

Additional Resources

About Symantec

Symantec is a global leader in providing security, storage and systems management solutions to help consumers and organizations secure and manage their information-driven world. Our software and services protect against more risks at more points, more completely and efficiently, enabling confidence wherever information is used or stored. More information is available at www.symantec.com.

Note to Editors: If you would like additional information on Symantec Corporation and its products, please visit the Symantec News Room at http://www.symantec.com/news. All prices noted are in U.S. dollars and are valid only in the United States.

Symantec and the Symantec Logo are trademarks or registered trademarks of Symantec Corporation or its affiliates in the U.S. and other countries. Other names may be trademarks of their respective owners.

Forward-looking Statements: This information is about pre-release software. Any unreleased update to the product or other planned modification is subject to ongoing evaluation by Symantec and therefore subject to change. This information is provided without warranty of any kind, express or implied. Customers who purchase Symantec products should make their purchase decision based upon features that are currently available.

¹ IDC, 2009 File-Based Storage Taxonomy: Capitalizing on the Diverse World of Files, Doc # 220796, November 2009

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“Protecting information today is more challenging than ever,” said Francis deSouza, senior vice president, Enterprise Security, Symantec Corp. “By putting in place a security blueprint that protects their infrastructure and information, enforces IT policies, and manages systems more efficiently, businesses can increase their competitive edge in today’s information-driven world.”

Study Highlights

“Abu Dhabi Commercial Bank is a good example of an organization that has put an effective security strategy into place with an emphasis on addressing issues proactively,” continued de Souza. “The company has a complete solution set of products and services that provide 24-hour protection, threat monitoring and response, all for a fixed annual cost. This approach is more cost-effective than securing a network after it has been compromised.”

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Click to Tweet: Study from @Symantec says cyber attacks cost large enterprises $2 million annually. http://bit.ly/bhOwmV

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About Business Solutions from Symantec

Symantec helps organizations secure and manage their information-driven world with IT Compliance, discovery and retention management, data loss prevention, and messaging security solutions.

About Symantec

Symantec is a global leader in providing security, storage and systems management solutions to help consumers and organizations secure and manage their information-driven world. Our software and services protect against more risks at more points, more completely and efficiently, enabling confidence wherever information is used or stored. More information is available at www.symantec.com.

Note to Editors: If you would like additional information on Symantec Corporation and its products, please visit the Symantec News Room at http://www.symantec.com/news. All prices noted are in U.S. dollars and are valid only in the United States.

Symantec and the Symantec Logo are trademarks or registered trademarks of Symantec Corporation or its affiliates in the U.S. and other countries. Other names may be trademarks of their respective owners.

Forward-looking Statements: This information is about pre-release software. Any unreleased update to the product or other planned modification is subject to ongoing evaluation by Symantec and therefore subject to change. This information is provided without warranty of any kind, express or implied. Customers who purchase Symantec products should make their purchase decision based upon features that are currently available.

TECHNORATI TAGS: Cybercrime, cyber attack, data breach, data leak, security, compliance, cloud computing, virtualization

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MOUNTAIN VIEW, Calif. – January 27, 2010 – Symantec Corp. (Nasdaq: SYMC) today reported the results of its third quarter of fiscal year 2010, ended Jan. 1, 2010. GAAP revenue for the fiscal third quarter was $1.548 billion. Non-GAAP revenue was $1.551 billion, up 1 percent over the comparable period a year ago (down 3 percent after adjusting for currency).

“Our consumer business, with its market-leading solutions and diverse go-to-market channels, continued to show strong momentum,” said Enrique Salem, president and chief executive officer, Symantec. “Our Security and Compliance business contributed to the better than expected results, driven by our ability to sell multiple security products to our customers. In addition, our hosted services, data loss prevention and compliance solutions performed well.”

“We are encouraged by the improving trends in our license revenue and by the sequential stabilization of our maintenance revenues. This led to better than expected sequential and year-over-year growth in both revenue and deferred revenue,” said James Beer, executive vice president and chief financial officer. “Our business continues to deliver strong cash flow from operations, generating approximately $1 billion over the last three quarters.”

GAAP Results: GAAP operating margin for the third quarter of fiscal year 2010 was 17.9 percent. GAAP net income for the fiscal third quarter was $300 million compared with a $6.82 billion loss for the same quarter last year. GAAP diluted earnings per share were $0.37 compared with a loss per share of $8.25 for the same quarter last year.

Symantec realized a one-time benefit of $78.5 million to GAAP net income, or a $0.10 benefit to GAAP earnings per share in the December 2009 quarter as a result of the favorable ruling by the U.S. Tax Court regarding the Veritas Software tax assessment for 2000 and 2001. The company realized this one-time benefit because the previous accrual exceeded Symantec’s revised estimated incremental tax liability. The GAAP net loss for the year-ago quarter includes a non-cash goodwill impairment charge of approximately $7 billion.

GAAP deferred revenue as of Jan. 1, 2010, was $3.05 billion compared with $2.92 billion as of Jan. 2, 2009, up 4 percent. After adjusting for currency, GAAP deferred revenue increased 3 percent year-over-year.

Cash flow from operating activities for the third quarter of fiscal year 2010 was $393 million. Symantec ended the quarter with cash, cash equivalents and short-term investments of $2.61 billion.

Non-GAAP Results: Non-GAAP operating margin for the third quarter of fiscal year 2010 was 28.3 percent. Non-GAAP net income for the fiscal third quarter was $326 million compared with $352 million for the year-ago period. Non-GAAP diluted earnings per share were $0.40 compared with earnings per share of $0.42 for the year-ago quarter.

Symantec realized a one-time benefit of $16.5 million to non-GAAP net income, or a $0.02 benefit to non-GAAP earnings per share in the December 2009 quarter as a result of the previously mentioned favorable ruling by the U.S. Tax Court. The company realized this one-time benefit after releasing the accrual related to interest on the original tax assessment recorded since the Veritas acquisition.

For a detailed reconciliation of our GAAP to non-GAAP results, please refer to the attached consolidated financial statements.

During the third quarter of fiscal year 2010, Symantec repurchased 6.8 million shares for $121 million at an average price of $17.76 per share.

Business Segment and Geographic Highlights

For the quarter, Symantec’s Consumer segment represented 31 percent of total non-GAAP revenue and increased 7 percent year-over-year (increased 3 percent after adjusting for currency). The Security and Compliance segment represented 24 percent of total non-GAAP revenue and increased 3 percent year-over-year (declined 2 percent adjusting for currency). The Storage and Server Management segment represented 38 percent of total non-GAAP revenue and declined 4 percent year-over-year (declined 8 percent after adjusting for currency). Services represented 7 percent of total non-GAAP revenue, flat year-over-year (declined 5 percent after adjusting for currency).

International revenue represented 51 percent of total non-GAAP revenue in the third quarter of fiscal year 2010 and increased 3 percent year-over-year (declined 5 percent after adjusting for currency). The Europe, Middle East and Africa region represented 32 percent of total non-GAAP revenue for the quarter and increased 1 percent year-over-year (declined 9 percent after adjusting for currency). The Asia Pacific/Japan revenue for the quarter represented 15 percent of total non-GAAP revenue and increased 11 percent year-over-year (increased 5 percent after adjusting for currency). The Americas, including the United States, Latin America and Canada, represented 53 percent of total non-GAAP revenue and declined 2 percent both before and after adjusting for currency.

Fourth Quarter Fiscal Year 2010 Guidance

Guidance assumes an exchange rate of $1.40 per Euro for the March 2010 quarter versus the actual weighted average rate of $1.30 per Euro for the March 2009 quarter, equivalent to an approximately 8 percent currency benefit. The end of period rate for the March 2009 quarter was $1.34, representing an approximately 4 percent currency benefit versus the $1.40 per Euro assumption for the March 2010 quarter.

For the fourth quarter of fiscal year 2010, ending April 2, 2010, GAAP revenue is estimated between $1.507 billion and $1.522 billion. GAAP diluted earnings per share are estimated between $0.16 and $0.17. GAAP deferred revenue is expected to be in the range of $3.162 billion and $3.192 billion.

Non-GAAP revenue for the fourth quarter of fiscal year 2010 is estimated between $1.510 billion and $1.525 billion. Non-GAAP diluted earnings per share are estimated between $0.36 and $0.37. Non-GAAP deferred revenue is expected to be in the range of $3.175 billion and $3.205 billion.

Conference Call

Symantec has scheduled a conference call for 5 p.m. ET/2 p.m. PT today to discuss the results from the fiscal third quarter 2010, ended Jan. 1, 2010, and to review guidance. Interested parties may access the conference call on the Internet at http://www.symantec.com/invest. To listen to the live call, please go to the Web site at least 15 minutes early to register, download and install any necessary audio software. A replay and script of our officers’ remarks will be available on the investor relations’ home page shortly after the call is completed.

About Symantec

Symantec is a global leader in providing security, storage and systems management solutions to help consumers and organizations secure and manage their information-driven world. Our software and services protect against more risks at more points, more completely and efficiently, enabling confidence wherever information is used or stored. More information is available at www.symantec.com.

Note to Editors: If you would like additional information on Symantec Corporation and its products, please visit the Symantec News Room at http://www.symantec.com/news. All prices noted are in U.S. dollars and are valid only in the United States.

Symantec and the Symantec Logo are trademarks or registered trademarks of Symantec Corporation or its affiliates in the U.S. and other countries. Other names may be trademarks of their respective owners.

FORWARD-LOOKING STATEMENTS: This press release contains statements regarding our financial and business results, which may be considered forward-looking within the meaning of the U.S. federal securities laws, including projections of future revenue, earnings per share and deferred revenue, as well as projections of amortization of acquisition-related intangibles and stock-based compensation and restructuring charges. These statements are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied in this press release. Such risk factors include those related to: general economic conditions; maintaining customer and partner relationships; the anticipated growth of certain market segments, particularly with regard to security and storage; the competitive environment in the software industry; changes to operating systems and product strategy by vendors of operating systems; fluctuations in currency exchange rates; the timing and market acceptance of new product releases and upgrades; the successful development of new products and integration of acquired businesses, and the degree to which these products and businesses gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release. We assume no obligation, and do not intend, to update these forward-looking statements as a result of future events or developments. Additional information concerning these and other risks factors is contained in the Risk Factors sections of our Form 10-K for the year ended April 3, 2009.

USE OF NON-GAAP FINANCIAL INFORMATION: Our results of operations have undergone significant change due to a series of acquisitions, the impact of SFAS 123(R), impairment charges and other corporate events. To help our readers understand our past financial performance and our future results, we supplement the financial results that we provide in accordance with generally accepted accounting principles, or GAAP, with non-GAAP financial measures. The method we use to produce non-GAAP results is not computed according to GAAP and may differ from the methods used by other companies. Our non-GAAP results are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Investors are encouraged to review the reconciliation of our non-GAAP financial measures to the comparable GAAP results, which is attached to our quarterly earnings release and which can be found, along with other financial information, on the investor relations’ page of our Web site at www.symantec.com/invest

Symantec Corporation – Condensed Consolidated Financial Statements (pdf)

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