Symantec 2004 Annual Report Download - page 33

SYMANTEC CORPORATION «31»
2004 Annual Report
Our Other segment is comprised of sunset products and products nearing the end of their life cycle.
NET REVENUES BY GEOGRAPHIC REGION
Year Ended March 31, % Change % Change
Fiscal 2003 Fiscal 2002
($ in thousands) 2004 2003 2002 to 2004 to 2003
United States $ 896,452 $ 714,111 $ 566,837 26% 26%
Percentage of total net revenues 48% 51% 53%
EMEA $616,504 $415,495 $293,111 48% 42%
Percentage of total net revenues 33% 30% 27%
Asia Pacific $ 94,546 $ 76,760 $ 60,406 23% 27%
Percentage of total net revenues 5% 5% 6%
Japan $ 153,004 $ 112,304 $ 85,569 36% 31%
Percentage of total net revenues 8% 8% 8%
Canada $70,718 $54,241 $ 38,835 30% 40%
Percentage of total net revenues 4% 4% 4%
Latin America $ 38,905 $ 34,035 $ 26,680 14% 28%
Percentage of total net revenues 2% 2% 2%
Total net revenues $1,870,129 $1,406,946 $1,071,438 33% 31%
Net revenues from customers outside of the United States repre-
sented approximately 52%, 49% and 47% of net revenues during
fiscal year 2004, 2003 and 2002. International net revenues increased
during fiscal 2004 as compared to fiscal 2003 due primarily to
sales growth of $201 million and $41 million in the Europe, Middle
East and Africa, or EMEA, region and Japan, respectively. In
addition, international revenues increased due to increased sales
of our antivirus products in our Consumer Products and Enterprise
Security segments.
International net revenues increased during fiscal 2003 as compared
to fiscal 2002 due primarily to sales growth of $122 million and
$27 million in the EMEA region and Japan, respectively. In addition,
international net revenues increased due to increased customer
awareness related to security threats and due to infrastructure
improvements made to our online subscription renewal service at
the end of fiscal 2002, whereby consumers are able to download
software updates from the Internet.
Strength in major foreign currencies during fiscal 2004, as compared
to the average major foreign currency rates during fiscal 2003,
positively impacted our international revenue growth by $128 million
due primarily to the strength of the Euro. Strength in major foreign
currencies during fiscal 2003, as compared to the average major
foreign currency rates during fiscal 2002, positively impacted our
international revenue growth by $66 million due primarily to the
strength of the Euro. We are unable to predict the extent to which
revenues in future periods will be impacted by changes in foreign
currency rates. If international sales become a greater proportion
of our total sales in the future, changes in foreign exchange
rates may have a potentially greater impact on our revenues and
operating results.
Our Services segment provides information security solutions
that incorporate advanced technology, security best practices and
expertise, and global resources to help enable e-business success.
The increase in revenue from our services segment during fiscal
2004 as compared to fiscal 2003 and during fiscal 2003 as compared
to fiscal 2002 were due primarily to increased sales from our managed
security services, which represented $27 million and $14 million
of net revenues during fiscal 2004 and fiscal 2003, respectively. In
fiscal 2002, services revenues were mainly comprised of consulting
revenue of $8 million.
Other
Year Ended March 31, % Change % Change
Fiscal 2003 Fiscal 2002
($ in thousands) 2004 2003 2002 to 2004 to 2003
Other revenues $332 $1,734 $6,928 (81)% (75)%
Percentage of total net revenues **1%
* Percentage not meaningful