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SYMANTEC ANNOUNCES 66 PERCENT GROWTH IN NET INCOME

 SYMANTEC ANNOUNCES 66 PERCENT GROWTH IN NET INCOME
 CUPERTINO, Calif., July 21 /PRNewswire/ -- Symantec Corp. (NASDAQ: SYMC) today announced financial results for the June quarter of fiscal 1993 which ended on July 3, 1992. Net income increased 66 percent in the quarter to $6.4 million from the comparable period a year ago. Revenues grew 39 percent to $60.2 million. Earnings per share were $0.26 on 25.0 million shares outstanding, compared with earnings per share of $0.16 on 23.8 million shares outstanding in the June quarter of fiscal 1992.
 ($ in thousands except EPS)
 Q1 Q1 Percent
 FY93 FY92 Change
 Net revenues $60,174 $43,207 39 pct.
 Operating income $8,972 $5,583 61 pct.
 Net income $6,382 $3,837 66 pct.
 EPS $0.26 $0.16 63 pct.
 International sales increased 51 percent to a record level of $20.4 million and represented 34 percent of consolidated worldwide revenues compared to $13.5 million which represented 31 percent in the June quarter of fiscal 1992. During the quarter, Symantec shipped eight products translated into 10 different languages.
 "Our results this quarter benefited from the recent introduction of new utility products, The Norton Desktop(TM) for DOS and The Norton Utilities(R) for the Macintosh version 2.0, which were delivered this quarter," said Gordon E. Eubanks, Jr., Symantec's president and CEO. "In addition, strong customer demand continued for The Norton Desktop for Windows version 2.0 which shipped last quarter."
 The Norton Desktop version 1.0 for DOS is the industry's first comprehensive Windows-like "drag-and-drop" desktop utility for DOS-based personal computers. The Norton Utilities for Macintosh version 2.0 is a new version of the popular utilities product which combines and builds upon improved technology from The Norton Utilities for Macintosh and Symantec Utilities for Macintosh or SUM(TM). The Norton Backup(TM) 2.0 for Windows has support for industry standard quarter-inch tape devices and is compatible with Windows 3.1. Development Tools Presence Strengthened
 During the quarter, Symantec strengthened its presence in the development tools market by announcing the acquisitions of MultiScope Inc. and The Whitewater Group Inc. Both companies develop and market products for the fast-growing application development tools market.
 Symantec has a strong presence in the development tools market with products that include THINK C(TM) and THINK Pascal(TM), the leading development environments for the Macintosh and Zortech(TM) C++ compilers for DOS, Windows, OS/2, UNIX, and Macintosh for 32-bit cross-platform C++ development.
 The company also announced a development and marketing agreement with Apple Computer Inc. to provide a cross-platform application framework for Apple(R) Macintosh(R) computers and Microsoft(R) Windows(R)-based PCs. The agreement will aid commercial and corporate software developers in quickly creating new applications for multiple desktop computing platforms.
 Symantec will provide the cross-platform application framework -- known as the Bedrock(TM) framework -- that it is currently using internally to develop applications for Apple Macintosh computers and Microsoft Windows.
 "The acquisitions of MultiScope and The Whitewater Group characterize our strong commitment to the development tools market," said Eubanks. "The announcement of the Bedrock framework demonstrates our long-term goal to provide customers with applications that will function across multiple platforms."
 Symantec Corp. develops, markets and supports a complete line of application and system software products for IBM personal computers and compatibles, and Apple Macintosh computers. Founded in 1982, the company has offices in the United States, Canada, Australia and Europe. Information on the company and its products can be obtained by calling 408-253-9600.
 SYMANTEC
 Consolidated Statements of Operations
 (In thousands, except per share data: unaudited)
 Quarter ended June 30,
 1992 1991
 Net revenues $60,174 $43,207
 Cost of revenues 13,766 9,894
 Gross margin 46,408 33,313
 Operating expenses:
 Research and development 9,000 7,192
 Sales and marketing 25,908 17,881
 General and administrative 2,528 2,657
 Total operating expenses 37,436 27,730
 Operating income 8,972 5,583
 Interest income 341 322
 Interest expense (64) (133)
 Income before income taxes 9,249 5,772
 Provision for income taxes 2,867 1,935
 Net income $6,382 $3,837
 Net income per share $0.26 $0.16
 Shares used to compute per share data 25,017 23,762
 SYMANTEC
 Consolidated Balance Sheets
 June 30, March 31,
 (In thousands) 1992 1992
 (unaudited)
 Assets
 Current assets:
 Cash and short-term investments $33,720 $31,947
 Trade accounts receivable 34,311 39,932
 Inventories 4,472 5,588
 Deferred income taxes 8,003 9,984
 Other 10,917 8,271
 Total current assets 91,423 95,722
 Equipment and leasehold improvements 20,606 17,636
 Purchased intangibles 8,252 8,122
 Other 1,625 1,337
 Total assets $121,906 $122,817
 Liabilities and Stockholders' Equity
 Current Liabilities:
 Accounts payable $11,981 $14,257
 Accrued compensation and benefits 4,605 6,834
 Accrued other expenses 10,306 16,437
 Income taxes payable 5,810 6,824
 Current portion of long-term obligations 737 1,182
 Total current liabilities 33,439 45,534
 Long-term obligations 1,312 1,641
 Stockholders' equity:
 Preferred stock -- --
 Common stock 236 226
 Capital in excess of par value 63,033 58,599
 Notes receivable from stockholders (229) (275)
 Translation adjustment 673 32
 Retained earnings 23,442 17,060
 Total stockholders' equity 87,155 75,642
 Total liabilities and stockholders' equity $121,906 $122,817
 -0- 7/21/92
 NOTE: Brand and product references herein are the trademarks or registered trademarks of their respective holders.
 /CONTACT: Terri Sammonds of Symantec, 408-725-2752; or Lerry Wilson of Wilson McHenry Co., 415-592-7600, for Symantec/
 (SYMC) CO: Symantec Corp. ST: California IN: CPR SU: ERN


RM-MC -- SJ002 -- 1559 07/21/92 17:22 EDT
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Date:Jul 21, 1992
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