Symantec reports 1Q loss on hefty charge

CUPERTINO, Calif. (AP) — Security software maker Symantec Corp. reported a loss for its fiscal 2009 fourth quarter Wednesday, hurt by a hefty goodwill impairment charge and lower-than-expected revenue.

For the three months ended April 3, the company posted a loss of $249.4 million, or 30 cents per share, compared with profit of $186.4 million, or 22 cents per share, in the same period a year earlier. But excluding one-time items, adjusted earnings totaled 38 cents per share in the latest quarter.

Revenue fell 5 percent to $1.47 billion from $1.54 billion.

Analysts polled by Thomson Reuters, on average, expected profit of 35 cents per share on higher sales of $1.52 billion, according to a poll by Thomson Reuters.

For the full year, the company lost $6.73 billion, or $8.10 per share, compared with profit of $463.9 million, or 52 cents per share, in fiscal 2008.

Looking ahead, the company expects fiscal 2010 first-quarter profit to range between 34 cents and 36 cents per share on revenue of $1.45 billion to $1.51 billion. Analysts expect profit of 35 cents per share on revenue of $1.51 billion, on average.

Shares rose fell 89 cents, or 5 percent, to $16.70 in after-hours trading after falling 5 cents to close the regular session at $17.60.