Symantec 1999 Annual Report Download

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Table of contents

  • Page 1

  • Page 2
    Business is about being connected in

  • Page 3
    ...THINGS, THOSE RISK FACTORS SET FORTH IN THE ENDED ANNUAL REPORT CONTAINS FORWARD-LOOKING º SUCH SAN FRANCISCO COMPANY S ON FOR THE YEAR AND THE SECTION OF THAT REPORT ENTITLED OF MAY, ESTIMATES, P R E D I C T S, CANNOT WILL, REPORT MANAGEMENT S OF FORM 10-K APRIL 2, 1999 AND DISCUSSION AND...

  • Page 4
    ... includes, of course, our access to the widest variety of resources imaginable, right from our desktop, laptop, or mobile device. What role does Symantec play in this new, connected 3 [ ]4 S Y M A N T E C C O R P O R AT I O N world? Put simply, we want to help our customers flourish in this ever...

  • Page 5
    .... The software and support services we supply are mission-critical to the enterprise. Symantec will continue to be known for solutions that enhance THINKING LIKE OUR CUSTOMERS during the past year, increasing to 39% of total revenue - up from 31% in the prior year. We As networks allow users to...

  • Page 6
    ...all, are the building blocks of the overall Symantec brand; strengthening them solidifies the power and value of our name in the marketplace. And that, in turn, leads to the predictably consistent user efficiency, effectiveness and productivity. With networks always on, customer demand for constant...

  • Page 7
    ... support allows FTD to provide a greater level of service to its customers and simplify the florists' experience with the Help Desk while reducing FTD's support costs. FTD f ounded in 1910 several years, businesses will be investing billions of dollars to build and maintain networks that connect...

  • Page 8
    ...to Windows NT workstations, and to rapidly deploy LandAmerica's proprietary title insurance underwriting management software program. pcAnywhere is aimed at improving IS efficiency and reducing costs by remotely fixing PC and server problems in over 40 regional locations. "Symantec was able to offer...

  • Page 9
    ...r of parts into the networked whole, while controlling the costs of proliferating technology. IBM GLOBAL SERVICES % a a a "Symantec's family of corporate software solutions offers best-of-breed technology and is backed up by high levels of customer service and technical support," said Gary Roberts...

  • Page 10
    ... customer service worldwide, which includes around-theclock backing by the Symantec AntiVirus Research Center â„¢ (SARC). In order to stay ahead of the accelerating proliferation of new computer viruses, SARC offers customer support through fully staffed research centers in the Americas, Europe...

  • Page 11
    ...the deployment of Norton AntiVirus the corporate network is secure and free of viruses. pursuing under-penetrated global markets. Our software will be essential to our customers' ability to manage the increasing complexity of their connected environments. Efficiently, and more cost-effectively. 17...

  • Page 12
    ... Officer for H&R Block. After searching for an anti-virus solution to protect the 100,000 computers we use to prepare tax returns and carefully evaluating several competitors products, we determined that the protection offered by Norton AntiVirus, Norton Utilities and pcAnywhere was the best buy...

  • Page 13
    ... software solutions that keep customers network interactions safe and secure and their computing processes simple. These solutions help reduce the cost of maintaining and supporting the growing number of devices that operate in today s connected world. Symantec is based in Cupertino, California...

  • Page 14
    ....) 10201 Torre Avenue, Cupertino, California (Address of principal executive offices) X 95014-2132 (zip code) X Registrant's telephone number, including area code: (408) 253-9600 Securities registered pursuant to Section 12(b) of the Act: None None (Title of each class) (Name of each exchange on...

  • Page 15
    ...of Certain Beneficial Owners and Management ...Certain Relationships and Related Transactions ...PART IV. Item 14. Exhibits, Financial Statement Schedules and Reports on Form 8-K ... 35 36 38 38 38 38 77 Signatures ... "Symantec," "we," "us," and "our" refer to Symantec Corporation and all of its...

  • Page 16
    ... utility software for business and personal computing. Symantec products and solutions make users productive and keep their computers safe and reliable anywhere and anytime. Our predecessor, C&E Software, Inc., a California corporation and its operating subsidiary, Symantec Corporation, a California...

  • Page 17
    ..., email attachments, floppy disks, shared files and networks. Norton AntiVirus also enables the user to download, via our LiveUpdate function, new virus definitions created by the Symantec AntiVirus Research Center (SARC)â„¢. Versions of this software run on the Windows, Windows 95, Windows 98...

  • Page 18
    ... online subscription-based service site that downloads Norton technology to Windows 95 and Windows 98 users via an Internet connection. Norton Web Services features our LiveUpdate Pro, a service that is designed to locate and install patches, updates and drivers specific to users' installed hardware...

  • Page 19
    ...networking settings and static and DHCP Internet settings in addition to location profiles. Versions of Norton Mobile Essentials run on Windows 95, Windows 98 and Windows NT operating systems. Internet Tools Our Internet Tools business unit includes products providing an easy to use Java development...

  • Page 20
    ...their life cycles. Net revenues from this segment were less than 1% of our net revenues in fiscal 1999 and 1% and 9% of our net revenues for fiscal 1998 and 1997, respectively. Sales and Marketing, International Sales and Customer Support . We market our products worldwide utilizing a multi-channel...

  • Page 21
    ... LiveUpdate, which provides online access to application bug fixes and/or patches for most of our currently marketed and developed products. In addition, we offer both domestic individual users and domestic corporate customers a variety of fee-based options designed to meet their technical support...

  • Page 22
    ... Associates and Updates.com from Updates.com, which compete with our Norton Web Services product; TransCentury Office from Platinum Technology IP, Inc., Greenwich Mean Time's Check 2000 Client Server and WRQ, Inc.'s Express 2000 Software Manager, which compete with our Norton 2000 Corporate Edition...

  • Page 23
    ... those currently under development, may decrease, if, among other reasons Microsoft includes additional product features in future releases of Windows; hardware vendors incorporate additional server-based network management and security tools into network operating systems; or competitors license...

  • Page 24
    .... We believe that we must provide personnel with a competitive compensation package, which necessitates the continued availability of stock options and shares to be issued under our employee stock option and purchase plans and requires ongoing shareholder approval of such incentive programs. 10

  • Page 25
    ...November 1, 1999 187,000 145,000 161,000 2006 2006 2006 Emerging Business and Research and development Remote Productivity Solutions (City Center 1) Santa Monica, California Research and development and marketing Customer service and technical support Research and development, sales and marketing...

  • Page 26
    ...-K. Item 4: Submission of Matters to a Vote of Security Holders. No matters were submitted to a vote of the security holders during the quarter ended March 31, 1999. 12

  • Page 27
    ... symbol "DE" since the acquisition of Delrina by Symantec on November 22, 1995. The high and low closing sales prices set forth below are in Canadian dollars as reported on the Toronto Stock Exchange. Delrina exchangeable stock is exchangeable at the option of the stockholders on a one-for-one basis...

  • Page 28
    ...related notes included elsewhere herein. During fiscal 1999, we acquired Quarterdeck, Intel's and IBM's anti-virus businesses and the operations ... of expense, from sale of technologies and product lines. See further discussion in our Summary of Significant Accounting Policies section in this Form ...

  • Page 29
    ...or achievements. O VERVIEW Symantec is a world leader in utility software for business and personal computing. Symantec products and solutions make users productive and keep their computers safe and reliable anywhere and anytime. Founded in 1982, we have offices in 26 countries worldwide. During the...

  • Page 30
    ...and Windows NT versions of our principal products, as well as introduction of new products and growth in sales outside of North America. Business Units. During fiscal 1999 and 1998, we experienced increased net revenues over the prior fiscal year from our Security and Assistance, Remote Productivity...

  • Page 31
    ... Windows NT and Macintosh versions of Norton Utilities, as well as the multiplatform workstations/servers version of Norton AntiVirus. New product releases of Norton CrashGuard Deluxe and Norton Uninstall contributed to the fiscal 1998 net revenue increase. Our Remote Productivity Solutions business...

  • Page 32
    ... into our suite of anti-virus offerings and other corporate products over the next two years. This in-process technology will also be used to create new Uninstall and Disk Cloning products. The efforts required to develop the purchased in-process technology principally relate to the completion...

  • Page 33
    ...acquired in the Binary acquisition primarily consisted of disk cloning technologies associated with Ghost, the flagship product of Binary. Ghost software is designed to create a complete image of a hard drive in the form of a single file that can be copied to another computer connected via a network...

  • Page 34
    ... protect product line, LDVP. The LDVP product offers centrally managed virus protection to computer networks. We intend to initially sell the next version of LDVP software on a stand-alone basis. We anticipate that during 1999 this technology will be integrated into our suite of corporate anti-virus...

  • Page 35
    ... product line. The CleanSweep product line is designed to enhance the performance of the Windows operating system by finding and removing outdated, unnecessary, or unwanted files, applications and system components, thereby freeing up disk space. The following discussion relates to our purchase...

  • Page 36
    ... utilized a working model of the desktop software product (essentially a beta version of the product) as its point of technological feasibility for desktop products because a detailed program does not exist. Symantec had consistently utilized this point in a desktop product's development life cycle...

  • Page 37
    ... fiscal 1997. For fiscal 1997 the income is net of expenses related to the sale of these technologies and product lines, which is comprised of approximately $8 million for the write-off of purchased intangibles and developed software costs and approximately $3 million in legal , accounting and other...

  • Page 38
    ... $2 million of the valuation allowance represents net operating loss and tax credit carryforwards of various acquired companies that are limited by separate return limitations under the "change of ownership" rules of Internal Revenue Code Section 382. We project our effective tax rate to be 32...

  • Page 39
    ... of our products to become obsolete more quickly than expected. The use of a Web browser, running on either a PC or network computer, to access client/server systems is emerging as an alternative to traditional desktop access through operating systems that are resident on personal computers. If...

  • Page 40
    ... additional features by Microsoft in new versions of Windows, including Windows 2000 and Windows 98 Second Edition, may decrease the demand for certain of our products, including those currently under development and products specifically intended for Windows 2000. Microsoft's Windows 98 operating...

  • Page 41
    ... and may affect the use of the Internet as a medium to distribute or support our software products and the functionality of some of our products. If we are unsuccessful in timely assimilating changes in the Internet environment into our business operations and product development efforts, our future...

  • Page 42
    ... may experience reduced sales or increased write-offs, which would adversely affect our operating results. We may be unsuccessful in utilizing new distribution channels. We currently offer a broad range of products and services over the Internet. We may not be able to effectively adapt our existing...

  • Page 43
    ... corporate image; and obstacles to the integration of acquired products, research and development and sales efforts. In addition, because the employees of acquired companies have frequently remained in their existing geographically diverse locations, we have not achieved certain economies of scale...

  • Page 44
    ... communications and Internet connectivity may also cause delays in customer access to our Internet-based services or product sales. A business disruption could occur as a result of natural disasters or the interruption in service by communications carriers and may cause delays in product development...

  • Page 45
    ... are not being actively developed and updated. These older products are also not necessarily Year 2000 compliant and will no longer be sold after June 29, 1999. We are currently party to a lawsuit related to the alleged inability of pre-version 4.0 Norton AntiVirus products to function properly in...

  • Page 46
    ...current products or newly developed and released products. Software defects could result in delays in market acceptance or unexpected reprogramming costs, which could materially adversely affect our operating results. Most of our license agreements with customers contain provisions designed to limit...

  • Page 47
    ...Oct 1999 Limited System Test Jul-Dec 1999 Jul-Dec 1999 Oct-Dec 1999 Oct-Dec 1999 Jul-Dec 1999 Jul-Dec 1999 Oct-Dec 1999 Business Systems Networks, Servers & Communications Americas EMEA Japan & Asia/Pacific Desktop and Mobile Computers Buildings and Related Facilities Suppliers and Outside Services...

  • Page 48
    ... basis point decrease in interest rates. Exchange Rate Sensitivity . We conduct business in 31 international currencies through our worldwide operations. We have established a foreign currency hedging program, utilizing foreign currency forward exchange contracts, or forward contracts, of one fiscal...

  • Page 49
    ...net income and net income per share are different from the amounts previously reported on Symantec's Form 10-Qs for fiscal 1999 as a result of changes in the companies allocation of purchase price in connection with the acquisition of Binary's operations and IBM's anti-virus business. See Note 14 of...

  • Page 50
    ... Corporation. In his most recent position as General Manager of IBM Americas, he was responsible for sales and support of IBM's technology products and services in the United States, Canada and Latin America. Prior to his position with IBM Americas, he was General Manager, Personal Software Products...

  • Page 51
    ... University of California at Los Angeles. Enrique T. Salem is Vice President, Security and Assistance Business Unit and Chief Technical Officer. Mr. Salem joined Symantec in April 1990 and has held numerous positions including Director of Development and General Manager of Advanced Utilities Group...

  • Page 52
    ... Owners and Management" appearing in the definitive Proxy Statement to be delivered to stockholders in connection with the Annual Meeting of Stockholders to be held on September 15, 1999. Such information is incorporated herein by reference. Item 13: Certain Relationships and Related Transactions...

  • Page 53
    ...4.03 Amendment No. Two to Registration Rights Agreement (Incorporated by reference to Exhibit 4.04 filed with the Registrant's Annual Report on Form 10-K for the year ended April 2, 1993.) 4.04 Plan of Arrangement and Exchangeable Share Provisions related to the acquisition of Delrina. (Incorporated...

  • Page 54
    ... with the Registrant's Registration Statement on Form S -8 (No. 333-18353) filed December 20, 1996.) Form of Stock Option Agreement and Form of Stock Option Exercise Request, as currently in effect, under the Registrant's 1988 Employees Stock Option Plan. (Incorporated by reference to Exhibit 10.10...

  • Page 55
    ...., to The Sumitomo Bank, Limited, San Francisco Branch. Agreement of Purchase and Sale of Cupertino City Center One between Cigna Property and Casualty Insurance Company and Symantec Corporation. (Incorporated by reference to Exhibit 10.18 filed with the Registrant's Annual Report on Form 10-K for...

  • Page 56
    ...the quarter ended January 1, 1999.) Amendment No. 3 of Agreement for Exchange and Purchase and Escrow Instructions, dated as of December 4, 1998 between Symantec Corporation and TST Development, L.L.C. (Incorporated by reference to Exhibit 10.03 filed with the Registrants Quarterly Report on Form 10...

  • Page 57
    ...No. 3335385) initially filed June 13, 1990.) Note Purchase Agreement, dated April 2, 1993, among Symantec Corporation, Morgan Guaranty Trust Company of New York, as Trustee, J. P. Morgan Investments Management, Inc., as Investment Manager and The Northwestern Mutual Life Insurance Company, including...

  • Page 58
    ...3, 1998.) 10.75 Software license agreement, dated as of September 27, 1998, between Symantec Corporation and Intel Corporation. (Incorporated by reference to Exhibit 10.1 filed with the Registrant's Current Report of Form 8-K filed October 5, 1998.) 10.76 Class action complaint filed by the law firm...

  • Page 59
    A report on Form 8-K was filed by Symantec on April 1, 1999. It reported that Symantec completed its tender offer for all of the outstanding shares of Common Stock of Quarterdeck Corporation, pursuant to its Agreement and Plan of Merger dated as of October 15, 1998 by and among Symantec Corporation,...

  • Page 60
    INDEX TO CONSOLIDATED FINANCIAL STATEMENTS Page Report of Ernst & Young LLP, Independent Auditors...47 Consolidated Balance Sheets as of March 31, 1999 and 1998...48 Consolidated Statements of Operations for the years ended March 31, 1999, 1998 and 1997 ...49 Consolidated Statements of ...

  • Page 61
    ... principles. Also, in our opinion, the related financial statement schedule, when considered in relation to the basic financial statements taken as a whole, presents fairly in all material respects the information set forth therein. /S/ ERNST & YOUNG LLP San Jose, California April 30, 1999 47

  • Page 62
    ...current assets Long-term investments Restricted investments Equipment and leasehold improvements Purchased product rights and capitalized software Goodwill Other 1999... and outstanding: none) Common stock (par value: $0.01 authorized: 100,000; issued and outstanding: 56,872 and 57,109 shares) Capital...

  • Page 63
    ... (In thousands, except net income per share) Net revenues Cost of revenues Gross margin Operating expenses: Research and development Sales and marketing General and administrative In-process research and development Amortization of goodwill and other intangibles Litigation judgment Restructuring...

  • Page 64
    ...shares under stock plans 1,990 shares from conversion of convertible debentures Repurchase 2,875 shares of common stock Income tax benefit related to stock options Balances, March 31, 1999... Significant Accounting Policies and Notes to Consolidated Financial Statements are an integral part of these statements...

  • Page 65
    ... Research Limited's operations Purchase of Intel's anti-virus business Purchase of Quarterdeck Corporation Cash acquired in business purchases Purchases of marketable securities Proceeds from sales of marketable securities Purchases of long-term, restricted investments Net cash used in investing...

  • Page 66
    ...convertible subordinated debentures and long-term obligations Conversion of subordinated debentures 1999 139,013 $ 153,873 Year Ended March 31, 1998... The accompanying Summary of Significant Accounting Policies and Notes to Consolidated Financial Statements are an integral part of these statements....

  • Page 67
    ... Accounting Policies Business Symantec is a world leader in utility software for business and personal computing. Our products and solutions make users productive and keep their computers safe and reliable anywhere and anytime. Founded in 1982, we have offices in 26 countries worldwide. Principles...

  • Page 68
    ... over the estimated useful lives of the respective assets, generally the shorter of the lease term or three to seven years. Purchased product rights and capitalized software Purchased product rights, technologies and capitalized software are comprised of acquired software ("product rights") and are...

  • Page 69
    ... of the outstanding convertible subordinated debentures and assumed exercising of options, if dilutive in the period. Concentrations of Credit Risk Symantec's product revenues are concentrated in the personal computer software industry, which is highly competitive and rapidly changing. Significant...

  • Page 70
    SYMANTEC CORPORATION Summary of Significant Accounting Policies, Continued its financial statements and related disclosures in fiscal 1999. SOP 98-1 did not materially affect our results. Reclassifications Certain previously reported amounts have been reclassified to conform to the current ...

  • Page 71
    ...accumulated amortization of purchased product rights and technologies Less: accumulated amortization of capitalized software development costs Other accrued expenses: Deferred revenue Marketing development funds Current obligations related to the purchase of IBM anti-virus business Other Accumulated...

  • Page 72
    ...related to these assets. On September 28, 1998, we entered into an agreement whereby we purchased Intel Corporation's anti-virus business for approximately $17 million. We also licensed Intel's systems management technology. Intel will promote Norton AntiVirus through its worldwide reseller channels...

  • Page 73
    ... Purchase Price Components (in thousands) Developed Customer Software Goodwill Base Workforce ...Symantec capitalized approximately $8 million of software development costs, primarily related to network administration technology, which was sold to Hewlett-Packard in March 1997, resulting in the write...

  • Page 74
    ... Due after one year through three years $ $ 1999 45,562 25,843 71,405 Our available-for-sale restricted investments relate to certain collateral requirements for lease agreements associated with our corporate facilities in Cupertino, California. Fair values of the restricted investments approximate...

  • Page 75
    ... and were convertible into Symantec common stock at $12 per share at the option of the investor. The debentures were due in three equal annual installments beginning in 1999 and were redeemable at the option of the investors in the event of a change in control of Symantec or the sale of all or...

  • Page 76
    ...-virus business Fair value of assets acquired Current obligations Long-term obligations Cash paid Total Quarterdeck Fair value of assets acquired Expenses incurred Net liabilities assumed Balance due to Quarterdeck Shareholders Cash and convertible debenture paid Total NOTE 9. C OMMITMENTS Symantec...

  • Page 77
    ...entered into lease agreements for two existing office buildings, City Center One (CC1) and World Headquarters (WHQ), land and one office building under construction in Cupertino, California, City Center Five (CC5). In fiscal 1999, the landlord exchanged CC5 for another building, City Center Two (CC2...

  • Page 78
    ... allowance represents net operating loss and tax credit carryforwards of various acquired companies that are limited by separate return limitations and under the "change of ownership" rules of Internal Revenue Code Section 382. The change in the valuation allowance for the years ended March 31, 1999...

  • Page 79
    ... patents to our business and to provide employees with incentives to pursue patent protection for new technologies that may be valuable to Symantec. Our executive officers are not eligible for awards under the 1994 Patent Incentive Plan. As of March 31, 1999, a total of 21,351 shares had been issued...

  • Page 80
    ...Accounting for Stock-Based Compensation," requires the use of option valuation models that were not developed for use in valuing employee stock options. Under APB No. 25, because the exercise price of our employee stock options generally equals the market price of the underlying stock on the date of...

  • Page 81
    ...4.84 4.34 0.61 0.63 5.4% 6.7% Employee Stock Purchase Plan 1998 1997 0.50 0.50 0.55 0.74 5.2% 5.4% Expected life (years) Expected volatility Risk free interest rate 1999 5.27 0.66 5.1% 1999 0.50 0.79 4.8% The Black-Scholes option valuation model was developed for use in estimating the fair value...

  • Page 82
    ... a reduction in workforce and the outsourcing of Symantec's domestic short-run manufacturing, product distribution and return teams which resulted in the closure and vacancy of the Sunnyvale, California site in February 1999 and the termination of related employees. The exit plan associated with the...

  • Page 83
    ... remaining lease payments associated with building leases for the Sunnyvale, California site subsequent to the planned abandonment date. The cash outlays for the lease are to be made over the remaining term of the lease. In addition, Symantec reserved for the write-off of the site-specific equipment...

  • Page 84
    .... Symantec determined that most employees had not availed themselves of the out-placement services offered by the Company at the time of their termination. • Excess facilities and equipment included remaining lease payments associated with the building leases for the Bedford and St. Louis sites...

  • Page 85
    ..., transferring or directly or indirectly copying into any new Network Associates product or new version of an existing product that has Symantec code, (ii) requiring Network Associates to notify distributors who are still selling versions of PC Medic 97 that have Symantec's code to tell customers...

  • Page 86
    ... vigorously. On July 30, 1998, a class action complaint was filed against Quarterdeck in the Supreme Court of the State of New York, County of New York, on behalf of a purported class of purchasers of Procomm Plus version 4.0 for Windows product (the "Product"). The complaint purported to assert...

  • Page 87
    ... parcel of land and one office building under construction (Cupertino City Center Five, or CC5) in Cupertino, California. During fiscal 1999 Symantec's landlord, exchanged CC5 for another leased building (Cupertino City Center Two, or CC2) located in Cupertino, California and committed to sell WHQ...

  • Page 88
    ... strategic business units that offer different products and services, distinguished by customer needs. We have four reportable segments: Remote Productivity Solutions, Security and Assistance, Internet Tools and Corporate Sunset. The Remote Productivity Solutions business unit focuses on helping...

  • Page 89
    ... Information (In thousands) Net revenues from external customers: United States Other foreign countries 1999 $ 353,734 238,894 $ 592,628 1998 $ 334,976 197,964 $ 532,940 March 31, 1997 $ 300,884 152,049 $ 452,933 Long-lived assets: United States Canada Ireland Other foreign countries $ 151,942...

  • Page 90
    ...Symantec adopted SFAS No. 130, "Reporting Comprehensive Income," beginning with the quarter ended June 30, 1998. SFAS No. 130 establishes new rules for the reporting...June 10, 1999 Symantec announced that it intends to establish our Internet Tools Business Unit as a separate company. Symantec will be ...

  • Page 91
    ..., thereunto duly authorized. SYMANTEC CORPORATION (Registrant) By /s/ John W. Thompson (John W. Thompson, Chairman, President and Chief Executive Officer) Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the...

  • Page 92
    Schedule II SYMANTEC CORPORATION VALUATION AND QUALIFYING ACCOUNTS (In thousands) Balance at Beginning of Period Allowance for doubtful accounts: Year ended March 31, 1997 Year ended March 31, 1998 Year ended March 31, 1999 $5,016 4,300 4,416 Charged to Costs and Expenses $1,599 1,036 609 ...

  • Page 93
    Exhibit XX.XX [EDGARized exhibit goes here]

  • Page 94
    ...) Symantec New Zealand Limited Symantec Nordic A.B. Symantec S.A. (Pty) Ltd. Symantec SRL (Italy) Symantec Switzerland AG Vertisoft Systems, Inc. State or Country of Incorporation Canada Missouri, USA Canada Delaware, USA Germany United Kingdom California, USA Wyoming, USA Canada Barbados New York...

  • Page 95
    Zortech (UK) Ltd. Zortech Limited ("Zortech") United Kingdom United Kingdom

  • Page 96
    ... and Form S-3 Nos. 33-82012 and 33-63513) of our report dated April 30, 1999, with respect to the consolidated financial statements and schedule of Symantec Corporation included in this Annual Report (Form 10-K) for the year ended March 31, 1999. /S/ERNST & YOUNG LLP San Jose, California June 30...