- Q4 GAAP revenue $1.222 billion, up 10% year-over-year; non-GAAP revenue $1.234 billion, up 5% year-over-year
- Fiscal year 2018 GAAP revenue $4.846 billion, up 21% year-over-year; non-GAAP revenue $4.972 billion, up 19% year-over-year
- Enterprise Security and Consumer Digital Safety business achieved GAAP and non-GAAP revenue above guidance for both Q4 and fiscal year 2018
- Cash flow from operating activities for fiscal year 2018 was $950 million
“We are pleased with our fourth quarter results,” said Greg Clark, Symantec CEO. “We had strong performance in our Enterprise Security and our Consumer Digital Safety segments as our solutions across both businesses drove increased adoption. Our customers recognize the superior protection, cross-product integration and the lower overall cost of ownership of our Integrated Cyber Defense platform. This is driving the growth in implied billings as we continue to close larger deals with multi-product platform sales. In Consumer Digital Safety, growth was driven by increased average revenue per user, retention rates and consumer digital safety adoption. We are on track to launch additional Consumer Digital Safety integrated offerings in fiscal 2019.”
To help readers understand our past financial performance and our future results, we supplement the financial results that we provide in accordance with generally accepted accounting principles, or GAAP, with non-GAAP financial measures. The methods we use to produce non-GAAP results are not in accordance with GAAP and may differ from the methods used by other companies. Additional information regarding our non-GAAP measures is provided below.
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.
Source: Symantec Press Release