Symantec 2000 Annual Report Download - page 16

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Introduction Symantec, a world leader in Internet security tech-
nology, provides a broad range of content and network security
solutions to individuals and enterprises. We are a leading provider
of virus protection, risk management, Internet content and e-mail
filtering, remote management and mobile code detection tech-
nologies to enterprise and individual customers. Founded in 1982,
we have offices in 33 countries worldwide.
Selected Financial Data
The following selected financial data is qualified in its entirety
by and should be read in conjunction with the more detailed con-
solidated financial statements and related notes included
elsewhere herein.
During fiscal 2000, we acquired URLabs, L-3 Network Security’s
operations and 20/20 Software. During fiscal 1999, we acquired
Quarterdeck, Intel’s and IBM’s anti-virus businesses and the
operations of Binary. Each of these acquisitions was accounted for
as a purchase and, accordingly, the operating results of these
businesses have been included in our consolidated financial
statements since their respective dates of acquisition. We did not
complete any acquisitions during fiscal 1998. During fiscal 1997,
we acquired Fast Track, Inc. in a transaction accounted for as a
pooling of interests. Since the results of operations of Fast Track
were not material to our consolidated financial statements,
amounts prior to the date of acquisition were not restated to
reflect the combined operations of the companies. In fiscal 1996,
we acquired Delrina Corporation in a transaction accounted for as
a pooling of interests, and therefore, we have restated the results
of operations for all periods presented to reflect the consolidated
results of Delrina and Symantec.
On December 31, 1999, we divested our ACT! and Visual Café prod-
uct lines. Because the divestitures of the ACT! and Visual Café
product lines were effective at the close of business on Decem-
ber 31, 1999, these product lines are included in the results of
operations through that date for the year ended March 31, 2000.
16 }0
Five-Year Summary
Year Ended March 31,
(In thousands, except net income (loss) per share) 2000 1999 1998 1997 1996
Statements of Operations Data:
Net revenues $ 745, 725 $ 592 , 628 $ 532,940 $ 452,933 $ 445 , 432
Acquisition, restructuring and other expenses 13 , 318 38 ,395 — 8,585 27 , 617
Operating income (loss) 135 , 203 27 , 841 54,924 17 ,550 ( 48 , 279 )
Net income (loss) 170, 148 50 , 201 85,089 26,068 (39 , 783)
Net income (loss) per share - basic $ 2.94 $ 0.89 $ 1.52 $ 0.48 $ (0.76)
Net income (loss) per share - diluted $ 2.73 $ 0.86 $ 1.42 $ 0.47 $ (0.76)
Shares used to compute net income (loss) per share - basic 57 , 870 56 , 601 56,097 54 ,705 52 , 664
Shares used to compute net income (loss) per share - diluted 62, 214 59 , 289 60,281 55,407 52 , 664
March 31,
(In thousands) 2000 1999 1998 1997 1996
Balance Sheet Data:
Working capital $ 319 , 020 $ 94 ,036 $ 175,537 $ 129,569 $ 134 , 643
Total assets 846 , 027 563 , 476 476 ,460 339 ,398 282 , 674
Long-term obligations, less current portion 1 , 553 1 , 455 5, 951 15,066 15 , 393
Stockholders’ equity 617 , 957 345 , 113 317 ,507 217,979 180 , 317