Symantec 2000 Annual Report Download - page 3

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0{03
Dear Fellow Shareholders,
Fiscal 2000’s record-breaking results are a testament to the dedication and enthusiasm of our
employees around the world — and also to the support and encouragement of our valued customers
and shareholders.
Last year, we pledged to refocus our attention on our traditional core competencies of building security
and connectivity-related solutions. We vowed to shift resources to meet the ever-growing needs of the
enterprise community while maintaining our leadership position in the consumer markets. Our invest-
ments are paying off. Symantec has emerged as an undisputed leader in providing Internet security for
individuals and businesses worldwide. But, there is much more to do.
The results of Symantec’s landmark year, punctuated by strong growth in all areas, speak for them-
selves: revenues increased 26% from fiscal year 1999 to 2000, from $592.6 million to $745.7 million. We
reported net income of $170.1 million, or $2.73 per diluted share, compared to $50.2 million, or $0.86 per
diluted share, last year. And, during the year, we shipped approximately 50 million units of our products
around the world.
This solid performance was due in part to our aggressive strategy of promoting solutions globally. In
fact, sales outside of North America grew 41% and accounted for 41% of this past year’s total sales.
The Asian markets experienced accelerated growth; European sales were solid. Symantec’s reach
expanded into India, China, Spain and Eastern Europe, and we expect strong worldwide growth for
the coming year as well.
During the year, we focused on three key areas: business strategy, attracting and retaining talent, and
superior execution.
Business Strategy. We aligned investments with our enterprise focus by targeting the high-growth
areas of Internet security: content and network security. According to market research firm, IDC, these
are the largest and fastest growing segments of the security software market, with growth projected at
over 30% and 40%, respectively, in the next three years. By 2003, combined sales for these segments are
expected to reach $5 billion.
To broaden our Internet security offerings, we acquired two leading firms, URLabs®and L-3 Network
Security™
.URLabs’ technologies and award-winning products deliver e-mail and Internet scanning and
filtering solutions to protect customers by blocking unauthorized or inappropriate content. The tech-
nologies and products we acquired from L-3 Network Security enable customers to assess, manage
and monitor network vulnerability levels and assist in security planning and design. In addition to these
acquisitions, we licensed personal firewall technology from WRQ®to incorporate added security protec-
tion in our products for individuals and businesses.
As we grew our security business, we also divested product lines that fell outside our core competencies.
On December 31, 1999, we sold our Visual Café™and ACT!™product lines.