Symantec Q1 Profit Shrinks, EPS Flat - Quick Facts

(RTTNews) - Symantec Corp. (SYMC) Tuesday reported first-quarter profit of $157 million, down from slightly from $160 million in the same period last year. On a per-share basis, earnings were $0.22, flat with last year.

Adjusted earnings for the quarter was $0.44 per share. On average, 28 analysts polled by Thomson Reuters expected the company to earn $0.36 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues improved 2 percent to $1.71 billion from $1.67 billion last year. Analysts expected revenues of $1.64 billion.

Looking ahead to the second quarter, the company has forecast earnings in the range of $0.22 to $0.24 per share, with adjusted earnings ranging between $0.42 and $0.44 per share. Revenues are expected to be in the order of $1.65 billion to $1.69 billion.

Analysts currently expect second-quarter earnings of $0.45 per share on second-quarter revenues of $1.71 billion.

For the fiscal 2014, the company has reconfirmed its outlook, currently expecting earnings growth ranging between 5 percent and 7 percent, with revenue growth in the order of 0 percent to 2 percent.

Analysts currently expect the company to report full-year earnings of $1.89 per share on revenues of $6.97 billion.