Vendor trio defy economic downturn
Citrix, Symantec and NetScreen report strong sales despite the gloom
Despite the challenging economic climate, three vendors have managed to keep the doom-mongers at bay by achieving positive financial results.
Infrastructure software vendor Citrix reported a slight increase in turnover for its first quarter ended 31 March, posting a turnover of $143.5m, compared with $142.3m for its Q1 the previous year. The firm's profit was $30.3m, up from $26.7m in 2002.
Internet security vendor Symantec also posted positive results for its year-end figures, achieving a 31 per cent year-on-year increase in turnover.
For the fiscal year ended 28 March 2003, the company's turnover was $1.4bn, compared with $1.07bn in 2002. Profit was $390m, an increase of 26 per cent on the $311m posted last year.
John Thompson, Symantec's chief executive, said: "Our diverse customers and unmatched geographic diversity all contributed to our success during very challenging times."
Finally, security appliance vendor NetScreen claimed it had a "record" Q2. Its turnover for the quarter ended 31 March was $58.3m, an 82 per cent increase on $32m the year before. Profit was $5.9m, compared with a loss of $3.3m in 2002.
Remo Canessa, NetScreen's chief financial officer, said: "Strength in product sales and our ability to control operating expenses have enabled us to post another quarter of solid financial performance."