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McAfee Posts Strong Results
 

McAfee Posts Strong Results

Friday Feb 12th 2010 by Larry Barrett

The security industry is poised to do well in the coming year, but McAfee in particular is buoyed by strong earnings, a solid outlook for 2010, and a likely customer-grab from rival Symantec.

The security industry is poised to do well in the coming year, but McAfee in particular is buoyed by strong earnings, a solid outlook for 2010, and a likely customer-grab from rival Symantec.


While most tech stocks slid on Friday, shares of security software maker McAfee managed to gain ground after the company posted solid fourth-quarter earnings and offering up a descent outlook for 2010.

McAfee shares rallied up $2.03 a share, or 5 percent, to $39.92 in Friday trading.

In its fourth quarter, McAfee posted a profit of $0.64 a share, excluding one-time charges, in line with most analysts' estimates, on sales of $525.7 million.

The $525.7 million in sales represented an impressive 24 percent jump from the year-ago quarter. Including one-time expenses, the Santa Clara, Calif.-based company earned $54.5 million, or $0.34 a share, up from $45.4 million, or $0.29 a share, in the same period last year.

For the year, McAfee pocketed $173.4 million, or $1.09 a share, on sales of $1.9 billion.

Read "Strong 4Q Lifts McAfee Shares" at InternetNews.com

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