Symantec reports 31% revenue growth

Despite the economic woes currently plaguing the world, Symantec has reported a 31% growth in its revenue for the past fiscal year as revenues jumped from US$1.071 billion to $1.407 billion.

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By  Matthew Southwell Published  April 24, 2003

Despite the economic woes currently plaguing the world, Symantec has reported a 31% growth in its revenue for the past fiscal year as revenues jumped from US$1.071 billion to $1.407 billion.

Key to these impressive results was a strong Q4, which showed a 26% growth on the same quarter last year.

“This is a strong final quarter that closes an exceptional year for Symantec,” says John Thompson, Symantec’s chairman & CEO.

“Both the quarter and the year came in well ahead of expectations with record revenue and earnings during very challenging times,” he adds.

While the continual development of more virulent viruses and sophisticated hacking tools undoubtedly contributed to the steady demand for Symantec’s products, Thompson believes the vendor’s worldwide coverage and diverse installed base also contributed to its growth.

“Our diverse set of customers, best-of-breed security solutions and unmatched geographic diversity all contributed to our success,” he says.

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