Symantec 2010 Annual Report Download - page 88

significant decline in license and maintenance orders is typical in the first quarter of our fiscal year as compared to
license and maintenance orders in the fourth quarter of the prior fiscal year. In addition, we generally receive a
higher volume of software license and maintenance orders in the last month of a quarter, with orders concentrated in
the later part of that month. We believe that this seasonality primarily reflects customer spending patterns and
budget cycles, as well as the impact of compensation incentive plans for our sales personnel. Revenue generally
reflects similar seasonal patterns but to a lesser extent than orders because revenue is not recognized until an order is
shipped or services are performed and other revenue recognition criteria are met, and because a significant portion
of our in-period revenue is provided by the ratable recognition of our deferred revenue balance.
Employees
As of April 2, 2010, we employed more than 17,400 people worldwide, approximately 47 percent of whom
reside in the U.S. Approximately 6,200 employees work in sales and marketing; 5,600 in research and development;
4,200 in support and services; and 1,400 in management and administration.
Other Information
Our Internet address is www.symantec.com. We make available free of charge on our website our annual
reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and amendments to those
reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act as soon as reasonably practicable
after we electronically file such material with, or furnish it to, the Securities and Exchange Commission (“SEC”).
Other than the information expressly set forth in this annual report, the information contained, or referred to, on our
website is not part of this annual report.
The public may also read and copy any materials we file with the SEC at the SEC’s Public Reference Room at
100 F Street, NE, Room 1580, Washington, DC 20549. The public may obtain information on the operation of the
Public Reference Room by calling the SEC at 1-800-SEC-0330. The SEC also maintains a website at www.sec.gov
that contains reports, proxy and information statements, and other information regarding issuers, such as us, that file
electronically with the SEC.
Item 1A. Risk Factors
A description of the risk factors associated with our business is set forth below. The list is not exhaustive and
you should carefully consider these risks and uncertainties before investing in our common stock.
Adverse global economic events may harm our business, operating results and financial condition.
Adverse macroeconomic conditions could negatively affect our business, operating results or financial
condition under a number of different scenarios. During challenging economic times and periods of high
unemployment, current or potential customers may delay or forgo decisions to license new products or additional
instances of existing products, upgrade their existing hardware or operating environments (which upgrades are
often a catalyst for new purchases of our software), or purchase services. Customers may also have difficulties in
obtaining the requisite third-party financing to complete the purchase of our products and services. An adverse
macroeconomic environment could also subject us to increased credit risk should customers be unable to pay us, or
delay paying us, for previously purchased products and services. Accordingly, reserves for doubtful accounts and
write-offs of accounts receivable may increase. In addition, weakness in the market for end users of our products
could harm the cash flow of our distributors and resellers who could then delay paying their obligations to us or
experience other financial difficulties. This would further increase our credit risk exposure and, potentially, cause
delays in our recognition of revenue on sales to these customers.
In addition, financial institution difficulties may make it more difficult either to utilize our existing debt
capacity or otherwise obtain financing for our operations, investing activities (including potential acquisitions) or
financing activities. Specific economic trends, such as declines in the demand for PCs, servers, and other computing
devices, or softness in corporate information technology spending, could have an even more direct, and harmful,
impact on our business.
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