Symantec 2004 Annual Report Download - page 32

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«30»SYMANTEC CORPORATION
2004 Annual Report
Enterprise Administration
Year Ended March 31, % Change % Change
Fiscal 2003 Fiscal 2002
($ in thousands) 2004 2003 2002 to 2004 to 2003
Enterprise Administration revenues $219,604 $215,017 $222,543 2% (3)%
Percentage of total net revenues 12% 15% 21%
Enterprise Security
Year Ended March 31, % Change % Change
Fiscal 2003 Fiscal 2002
($ in thousands) 2004 2003 2002 to 2004 to 2003
Enterprise Security revenues $736,531 $593,552 $454,925 24% 30%
Percentage of total net revenues 39% 42% 42%
Our Enterprise Security segment provides security solutions for
all tiers of a network: at the gateways between the network and
the outside world, at the servers that act as the network’s vital
organs, and at end-user devices, including desktop PCs, laptops
and handhelds. Revenue from our Enterprise Security segment
increased during fiscal 2004 as compared to fiscal 2003 due primarily
to a $131 million increase in sales of our virus protection solutions.
Similarly, revenue from our Enterprise Security segment increased
during fiscal 2003 as compared to fiscal 2002 due primarily to a
$117 million increase in sales of our virus protection solutions.
Our Consumer Products segment focuses on delivering our Internet
security and problem-solving products to individual users, home
offices and small businesses. We believe that a significant portion
of the growth during fiscal 2004 was attributable to the numerous
security threat outbreaks that occurred in August 2003 and
February 2004, and these growth rates may not be sustainable.
Our sales through original equipment manufacturers and
sales through our electronic distribution channel, including our
subscription renewal business, also contributed to the increase
in sales during fiscal 2004. These sales grew by $223 million in 2004
as compared to 2003. Specifically, the increase in revenue from
our Consumer Products segment during fiscal 2004 as compared
to fiscal 2003 was due primarily to increases of $188 million and
$129 million in sales of our Norton AntiVirus and Norton Internet
Security products, respectively. These increases were offset slightly
by a decrease in sales of our other consumer products.
Revenue from our Consumer Products segment increased during
fiscal 2003 as compared to fiscal 2002. Our sales through original
equipment manufacturers and sales through our electronic
distribution channel, including our subscription renewal business,
contributed to the increase in sales during fiscal 2003, as we
made infrastructure improvements to our online subscription
renewal service at the end of fiscal 2002. These sales grew by
$154 million in 2003 as compared to 2002 as a result of increase
volume and prices. Specifically, the increase in revenue from our
Consumer Products segment during fiscal 2003 as compared to
fiscal 2002 was due primarily to stronger than expected consumer
and small business spending, which contributed to the increase
in sales of our Norton AntiVirus and Norton Internet Security
products in the amount of $124 million and $52 million, respectively.
Services
Year Ended March 31, % Change % Change
Fiscal 2003 Fiscal 2002
($ in thousands) 2004 2003 2002 to 2004 to 2003
Services revenues $41,682 $26,377 $10,905 58% 142%
Percentage of total net revenues 2% 2% 1%
Our Enterprise Administration segment offers open and modular
products and services that enable companies to effectively
and efficiently manage their IT infrastructures. Revenue from our
Enterprise Administration segment increased during fiscal 2004
as compared to fiscal 2003 due primarily to sales of PowerQuest
products of $18 million and sales of ON Technology products
of $6 million, after the respective dates of acquisition. These
increases were offset by a decrease in sales of our pcAnywhere
product of $19 million. Revenue from our Enterprise Administration
segment decreased during fiscal 2003 as compared to fiscal 2002
due primarily to a decrease in sales of our pcAnywhere product
of $13 million, partially offset by growth in our Ghost Corporate
Edition product of $6 million.