Business Booms At SymantecBusiness Booms At Symantec

Internet security software maker Symantec Corp. on Wednesday reported record revenue for its third quarter. Total revenue for the period ended Jan. 2 was $494 million, 31% higher than the $376 million in the same period last year.

Net income was $111 million, up from $72 million for the year-ago quarter.

The company credits strong performance in its enterprise security sales as well as stronger-than-expected consumer security sales, including its Norton Firewall and antivirus software. Company executives said during a call with investors that Symantec expects revenue to continue growing as its customers begin loosening their IT budgets.

The company says its worldwide corporate business, which includes corporate security and administration applications and services, produced 51% of total revenue. Corporate security services and applications represent 38% of Symantec's total revenue and grew at a clip of 17% year over year. But it was the company's consumer software that grew the most--55% year over year. Symantec's consumer sales represent 49% of the company's total revenue.

The company predicts fourth-quarter revenue will range from $500 million to $520 million, with full-year revenue of about $1.82 billion.