Symantec (SYMC) Tops Q4 EPS by 7c, Guidance Comes in Light; Reports Audit Committee Investigation
(Updated - May 10, 2018 4:10 PM EDT)
Symantec (NASDAQ: SYMC) reported Q4 EPS of $0.46, $0.07 better than the analyst estimate of $0.39. Revenue for the quarter came in at $1.23 billion versus the consensus estimate of $1.19 billion.
GUIDANCE:
Symantec sees Q2 2019 EPS of $0.31-$0.35, versus the consensus of $1.62. Symantec sees Q2 2019 revenue of $1.135-1.165 billion, versus the consensus of $1.19 billion.
Symantec sees FY2019 EPS of $1.50-$1.65, versus the consensus of $1.62. Symantec sees FY2019 revenue of $4.76-4.9 billion, versus the consensus of $4.93 billion.
Audit Committee Investigation
The Audit Committee of the Board of Directors has commenced an internal investigation in connection with concerns raised by a former employee. The Audit Committee has retained independent counsel and other advisors to assist it in its investigation. The Company has voluntarily contacted the Securities and Exchange Commission to advise it that an internal investigation is underway, and the Audit Committee intends to provide additional information to the SEC as the investigation proceeds. The investigation is in its early stages and the Company cannot predict the duration or outcome of the investigation. The Company’s financial results and guidance may be subject to change based on the outcome of the Audit Committee investigation. It is unlikely that the investigation will be completed in time for the Company to file its annual report on Form 10-K for the fiscal year ended March 30, 2018 in a timely manner.
For earnings history and earnings-related data on Symantec (SYMC) click here.