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Today's Technical Research on Symantec and Check Point Software: Security Software Market to Grow at Robust Pace

  Today's Technical Research on Symantec and Check Point Software: Security
                    Software Market to Grow at Robust Pace

  PR Newswire

  LONDON, January 31, 2013

LONDON, January 31, 2013 /PRNewswire/ --

Businesses across the world have been deploying IT-enabled solutions to boost
their productivity. The increasing demand for IT-enabled business solutions,
coupled with widespread adoption of Internet, has also boosted demand for
security software and services. This trend has benefited companies such as
Symantec Corporation (NASDAQ: SYMC) and Check Point Software Technologies Ltd.
(NASDAQ: CHKP), two major players in the security software and services
industry. StockCall technical review on these companies is now available for
free upon registration at

Security Software Market Expected to Grow at a Robust Pace

The growth in security software market is being driven by increasing number of
IT security attacks, widespread Internet adoption, discovery of new threats
and the requirement for companies to comply with new legislations. However,
like other areas of the information technology industry, uncertain global
economic environment also has had an impact on the security software market.

Despite tightening IT budgets, the security software market has been
resilient. And with the global economic outlook improving, technology spending
is expected to bounce back this year. This should help security software and
services providers such as Symantec and Check Point Software Technologies Ltd.
Download our free report on Check Point by signing up today at

Symantec Delivers Record Results

Last week, Symantec Corp. [ Free Technical Research on SYMC ] ^(1) posted
record results for its third quarter ended December 28, 2013. The company's
GAAP revenue for the quarter rose 4% to $1.79 billion. GAAP net income for the
quarter was $212 million, down from $240 million reported for the same period
in the previous year. On a non-GAAP basis, the company's net income for the
quarter was $313 million, down from $314 million reported for the same period
in the previous year.

Steve Bennett, President and CEO of Symantec, said that the company continued
to deliver better-than-expected results. James Beer, Symantec's Executive Vice
President and CFO, meanwhile, said that the better-than-expected top-line
growth coupled with disciplined expense management drove non-GAAP operating
margins of 25.6% even as the company is investing in certain areas to better
serve its customer needs.

New Strategy

Last week, Symantec also announced a new strategy under which it will
streamline and simplify operations in order to deliver improved performance
for customers and partners. Steve Bennett noted that the company's strategy is
straightforward; offer better products and services tailor made for customers,
and make it easier for them to research, shop, buy, use and get the help and
support they need.

Symantec will also implement an improved capital allocation strategy, which
over time the company believes will return nearly 50% of free cash flow to
shareholders through a combination of dividends and share buybacks.

Check Point Posts Better-Than-Expected Profit

Last week, Check Point Software also released its quarterly results. The Tel
Aviv, Israel-based company reported better-than-expected profit in its fourth
quarter, driven by rising sales of security appliances and cost-cutting

Excluding one-time items, Check Point reported a profit of $0.91 per share,
compared to $0.84 per share reported for the same period in the previous year.
Revenue for the quarter climbed 3% to $369 million.

Looking ahead to 2013, Check Point Software expects revenue to be between $1.4
billion and $1.45 billion. Adjusted earnings for 2013 are expected to be
between $3.30 per share and $3.50 per share.


 1. Symantec Corp. Technical Analysis [ ]

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