Symantec 2009 Annual Report Download - page 65

Download and view the complete annual report

Please find page 65 of the 2009 Symantec annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 167

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167

domains become more integrated, we have taken a more proactive and policy-driven approach to protecting and
managing information throughout its lifetime.
Business Developments and Highlights
During fiscal 2009, we took the following actions to support our business:
• We launched several new products and integrated new features into our products. Some of the new offerings
in our enterprise business include: advanced electronic discovery and data de-duplication capabilities in our
industry leading archiving platform; increased ability to discover, monitor and protect confidential infor-
mation wherever it is stored or used through our data loss prevention solution; end-to-end coverage for the IT
compliance lifecycle, including policy management, technical and procedural controls assessment in our
compliance solution; support for VMware and Microsoft»Hyper-V in our backup and recovery solution;
offering better visibility into IT assets, simplified day-to-day manageability and improved end-user pro-
ductivity in our systems management solutions; and workspace management in our endpoint virtualization
solution. In our consumer business, we delivered more than 300 performance improvements to our 2009
security products while providing even stronger protection against web-based attacks and other security
threats. In addition, we expanded our consumer portfolio to include new web-based offerings for back-up
and family safety, and we launched a remote PC Help service.
• We completed six acquisitions during fiscal 2009. We expanded our portfolio in the emerging and high
growth areas of Software-as-a-Service (“SaaS”) and endpoint virtualization. In the SaaS space, we acquired
MessageLabs Group Limited (“MessageLabs”). We also invested in our Consumer business by acquiring PC
Tools Pty Ltd. (“PC Tools”) and SwapDrive, Inc. (“SwapDrive”). The PC Tools and SwapDrive acquisitions
add new products, enhance our product portfolio with additional features and capabilities as well as help us
acquire new customers.
• We reduced our cost structure in order to better align expenses with our revenue expectations. Some of the
actions we took were: outsourcing certain IT and back-office finance functions; tightly managing our
headcount costs; consolidating real-estate facilities; and reducing travel and entertainment expenses and
other discretionary items.
• We made the following key changes to our executive management team: we announced John Thompson’s
retirement as Chief Executive Officer and announced the appointment of Enrique Salem as President and
Chief Executive Officer, each effective April 4, 2009, the first day of our fiscal 2010. As of that date, Enrique
Salem also joined our Board of Directors and John Thompson remains the Chairman of the Board.
• We repurchased 42 million shares of our common stock for an aggregate amount of $700 million.
Operating Segments and Products
Our operating segments are significant strategic business units that offer different products and services,
distinguished by customer needs. During fiscal 2009, we had five operating segments: Consumer, Security and
Compliance, Storage and Server Management, Services, and Other.
Consumer
Our Consumer segment provides suites and services that include Internet security, PC tuneup, and backup for
individual users and home offices. Our Norton
TM
brand of consumer security software products provides protection
for Windows», Macintosh», Windows-Mobile», and Symbian
TM
platforms.
New customer acquisition is driven by increased threats, the need for identity protection, the growth of online
transactions and the rapid increase of consumer data, such as photos, music libraries and video. Our award-winning
Norton 2009 releases set a new standard for speed and performance. We continue to acquire customers through a
diversified channel strategy that places our products where customers want to buy, including most of the top OEMs
and through our number one position in retail. With the acquisition of PC Tools, Symantec reaches more segments,
such as emerging markets, price sensitive consumers and new e-commerce channels.
5