Rising demand for cybersecurity products fuels business momentum
Symantec has reported the results of its first quarter of fiscal year 2015, ended July 4, 2014.
Michael A. Brown, Symantec interim president and chief executive officer, said, “We are making steady progress against the five priorities outlined last quarter including: optimizing certain businesses for margin, improving efficiencies, attracting top talent, returning significant cash to shareholders and focusing our investments for growth in our enterprise business. These investments are focused in backup appliances, mobile, advanced threat protection, managed security services and data loss prevention.”
“Separation of the sales force into new business and renewals teams has led to improved performance, especially in North America. In particular, our federal and renewals teams both delivered one of their best quarters ever,” Mr. Brown continued. “Our backup appliances, Trust Services and data loss prevention businesses also generated robust revenue growth. In the last two quarters, we’ve introduced nearly two dozen new or improved products and we’re on track to release almost two dozen more by fiscal year end.”
Thomas Seifert, executive vice president and chief financial officer, said, “We’re pleased with the solid results in the quarter, which were driven by productivity improvements in both our new business and renewals teams. We have eight revenue and efficiency initiatives in place that we expect will help us continue to build momentum into next year. We’ve identified three efficiency initiatives that we believe will ramp during the second half of the fiscal year: optimizing our Norton business, streamlining product support, and reducing our global footprint.”
