Boston, MA, 11/13/2013 (wallstreetpr) – Symantec Corp. (Nasdaq:SYMC) has announced today that Francis deSouza, who is presently its President of products and services, will be leaving it on December 1st to join Illumina, based in San Diego, Calif as President. The former company’s products and services leadership team will now reporting to Steve Bennett its President and CEO.
In his statement on the imminent departure of Francis, Mr. Bennett stated that Francis had played an important role in developing the products of the company. He wished Francis success in his new job.
In other news the company has reported revenues that were lower than the market expected in the second quarter and its forecasts for revenue for the ongoing quarter were lower than expected. The lower than expected performance was attributed to lower demand for security and storage products.
The company in its statement said that it expected that its adjusted earnings per share in the third quarter would be in the range 41 cents to 43 cents per share and its revenue in the quarter would be in the range of $1.63 billion to $1.67 billion. On the average analysts had expected earnings of 51 cents per share on revenue of $1.79 billion.
The company’s consumer business division markets products and services to individual consumers and small businesses worldwide through an e-commerce website, internet-based resellers and retailers. The company CEO said that even though profits were a major point, its Norton product would remain to be sold. The CEO added that the company planned to add new products that would provide security to all devices.
The company expects that its total revenue for the full financial year that ends in March 2014, will fall by 3 or 4%. It forecasts that its earnings will fall by 1.5%. The company expects that its revenues and earnings will resume to grow in the 2015 financial year.
