Symantec 2004 Annual Report Download - page 10

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«8»SYMANTEC CORPORATION
2004 Annual Report
Fiscal 2004 was another year of record performance for our company. We launched 72 exciting
new products, delivered four new service offerings, significantly enhanced our direct sales force,
and continued to aggressively promote our brand. Our global sales team capped off this great
year with strong, double-digit revenue growth in every region. Momentum was evident
in many areas of the business, including record results in our core antivirus business and
consumer segment, as well as a record number of large enterprise wins.
Throughout the year, the threat environment continued to affect many enterprises and
individuals around the world and produced one of the most serious outbreak environments
we have seen yet. Today’s cyberattacks demonstrate that companies as well as individual users
need to employ comprehensive, integrated security solutions. The combination of shortened
lead times between the discovery of new vulnerabilities and the release of an exploit, coupled
with rapid propagation techniques, is beginning to drive a new paradigm for Internet threats.
We believe we are the best-positioned company in the industry to protect companies and
individuals from these threats given the breadth of our offerings, and the confidence and trust
our customers place in us during these challenging times.
“SYMANTEC’S INTEGRATION OF SECURITY FUNCTIONALITY AND ENTERPRISE-
LEVEL MANAGEMENT HELPS CUSTOMERS SECURE AND MANAGE THEIR IT
INFRASTRUCTURES MORE EFFECTIVELY. OUR ABILITY TO PROVIDE ADDITIONAL
CAPABILITIES TO SOLVE REAL BUSINESS PROBLEMS—SUCH AS MANAGING THE
GROWING COST AND COMPLEXITY OF TECHNOLOGIES DEPLOYED THROUGHOUT
NETWORKS—IS DRIVING OUR SUCCESS.”
NANOTHER RECORD YEAR
We successfully executed the strategy we outlined last year, continuing the well-established
pattern of revenue growth, solid profitability, and strong cash generation. With one of the
strongest new product lineups in the company’s history, and a more stable global economic
environment, we exceeded our internal expectations every quarter throughout fiscal 2004.
We grew revenue to a record $1.870 billion, representing 33% year-over-year growth when
compared with fiscal 2003, and our non-GAAP*diluted earnings per share increased from
$0.86 to $1.18. Deferred revenue grew 65% to $971 million, giving us the best visibility
in our history.
*Non-GAAP results are reconciled to GAAP results on page 12.
Left to right: John G. Schwarz, President and Chief Operating Officer;
John W. Thompson, Chairman of the Board and Chief Executive Officer;
Gregory E. Myers, Senior Vice President of Finance and Chief Financial Officer.
Dear Shareholders,