WordCamp Nijmegen Recap

Jörg and I have recently represented Plesk at  click WordCamp Nijmegen – the first ever Local event in The Netherlands. We were met by perfect organization, led by Taco Verdonshot. This paired with the high quality of the talks and speakers makes us hope this wasn’t a one-time edition.

Have a look at the cool, new Plesk Swag we entertained our attendees with. Our booth was surely emitting a fun atmosphere during the whole event.

Great WordCamp Community and Program

We were swept away by how welcoming the Dutch WordPress Community was and the varied program they gave us. There were speakers who even spontaneously switched their presentation from Dutch to English to accommodate the foreign attendees.

This WordCamp came with two tracks – and there was going to be something for everybody. From WordPress beginners to advanced developers.

So we kicked off – with Joost de Valk‘s keynote “5% voor de toekomst” (“ follow url 5% for the future“). Joost took on all the different ways we can contribute to the open-source project that is WordPress.

Emceeing on the Nijmegen Stage

With pleasure, I introduced my husband, Alain Schlesser, who gave the Nijmegen audience valuable http://crug-glas.co.uk/rooms-cottages/room-five/ basics of  OOP plugin development. Yet my more emotional moment on stage came after the last morning lightening talk by Yvette Sonneveld.

Yvette inspired us by sharing her experience and pleasure of volunteering at WordCamps. Then, she ended her contribution by thanking me for my support over the last two weeks. Support that I gave before her very first talk as a WordCamp speaker. Yvette even quoted me in her last slide and took me in for a big hug on stage.

The Next WordPress Generation in Nijmegen

Another WordCamp Nijmegen highlight for us was the engagement from our youngest WordPress enthusiasts. CoderDojo Nijmegen took them under his wing and they learned to build their first WordPress site during the event!

Thank you WordCamp Nijmegen

WordCamp Nijmegen and WordPress Contributor Day managed to ride the success of the Local Brighton event in the eyes of Plesk and myself. Check out all the fun we had in the photo recap below. Thanks for an awesome weekend Nijmegen and “Tot ziens!” (goodbye!)

Maximise Your SMB Opportunities With BaseKit

The size and value of the SMB Market is soaring – and it shows no signs of slowing down. However, small businesses face multiple challenges. Successfully setting up and running a small business is expensive, time-consuming and laborious.

Small businesses rely heavily on the support and resources of larger companies to reach their goals. So hosting companies are responsible for powering their SMB customers with products that help them thrive in the digital world.

The New and Sophisticated SMB Market

SMBs are quickly turning to cloud technology. They need to feed their demands for increased productivity, efficiency and security for their business. Yet they struggle to find the right advice and solutions under the same roof. If we provide them with an innovative and valuable product, we can drive loyalty and increase retention. Gaining that consumer trust is key – especially in an industry that is constantly under price pressure.

We can do this by providing solutions that help grow their business, in an easy and familiar way. So small businesses need to move away from the dated products that are difficult to use. Also, social media has had a huge influence on small businesses. Now, they demand speed and and accessibility – anywhere, anytime. SMBs will instantly abandon anything that is not useful or mobile. And this is where you come in.

Be at the Centre of SMB Success

A top priority for any small business is having a web presence. So providing that opportunity with a sitebuilder ( e.g. BaseKit ) can be a genuine game changer. Busy SMBs are less likely to switch to another company after you’ve created their most valuable business asset – their website.

However, it’s important that SMBs associate your brand with forward-thinking services and an exceptional experience. Since this is sure to influence their future purchasing decisions and choose your company over your competition. May we offer a suggestion?

BaseKit’s Recent Integration with Plesk

Combining BaseKit with Plesk provides an ideal opportunity for hosting companies and small agencies. It helps them offer their customers an easy and cost-effective way of making their business flourish online.

Small Businesses can build their site, blog or online store from one integrated user interface via BaseKit – with no need for plug-ins or app downloads. All features retain full functionality on a wide range of iOS, Android, and Fire OS devices. Thus, making it perfectly geared towards on-the-go businesses.

Top 5 Reasons to Sell Managed AWS Solutions

Public Cloud Providers are growing aggressively. So traditional infrastructure providers aren’t responding to new opportunities that rise from third party cloud offerings. According to Structure Research, managed third party cloud markets should reach $US25 bn by 2020! That’s why we want to give you, our Plesk Partner, 5 reasons why you should add managed AWS solutions to your current sales portfolio:

1. You’ll drive more revenue

Offering a managed Plesk on AWS, through the AWS Marketplace, is more than just a migration opportunity. This is your chance to serve a broader set of net new customers while increasing recurring revenues from your existing customers.

2. You’ll go global

Local infrastructure offerings are important. But how do you respond to customers who need to go global? By adding Plesk on AWS solutions to your portfolio, you’re actually offering your customers everything they love about Plesk – but on a scalable infrastructure across 16 geographical regions and 44 Availability Zones.

3. You’ll simplify AWS solutions for web professionals

As a service provider and Plesk partner, you’re the infrastructure expert who understands Cloud, Cloud-based services and the technical details. Be the Cloud journey guide for web professionals – help them manage and scale their websites and applications. AWS is bursting with approximately 50 different services. Services which present immense opportunity to manage complexity on behalf of the growing web professional community.

4. You’ll increase business opportunities

AWS doesn’t monitor, support or consult – that’s where you can step in. As a Plesk partner you can actually sell a professional solution combined with your unique abilities. Managed services offer a huge range of additional recurring services that your customers want and need. Want some ideas? Here are a few:

  • Full Service Monitoring: You can provide this either based on your onsite tools or the AWS tools that you use.
  • Revenue Spin-offs: According to Structure Research, a high number of managed third party cloud customers were not doing business with the provider before entering into the managed AWS relationship. Those customers would happily pay a premium for unique service level agreements (SLA) or additional collocation services. And they’re not too hard to find either!
  • Local support: Can you speak your customers’ language? Then monetize this advantage. Provide them with the high quality local support they need. If you’re not selling the SLA – your nearest competitor will.
  • Consulting services: Give your customers the ability to do more for themselves. You’re the expert! Whether it’s a tailored setup on the complex AWS infrastructure, or a hybrid approach combining Plesk on AWS with your own data centre capabilities. So bundle your knowledge and become your customer’s Cloud evangelist. Happy customers will stay.

5. You’ll increase migrations

Let your customers benefit from your expertise and mitigate the risk. Help them to migrate to AWS and add a set of managed services to the deal. The Plesk on AWS promotion is only the cherry on top – the more servers you migrate, the more AWS computing credits we’ll provide.

WordCamp Brighton: A Plesk Recap

This month, I was part of WordCamp Brighton – a two-day conference about WordPress topics voluntarily organised by the community, for the community. Plesk was one of this year’s sponsors, so it was doubly exciting for me to experience this WordCamp for the first time as part of the Plesk team.

After WordCamp Europe in Paris, where I debuted as an on-stage emcee in front of almost 2,000 attendees, the cosy and laid-back atmosphere of WordCamp Brighton was just what I needed.

As this was my second WordCamp in the UK this year, where I was emcee-ing yet again, I was looking forward to reconnecting with fellow WordPress attendees from the previous event. And of course, to meeting new community members.

Warm WordCamp Welcome and Preparations

I touched down in Brighton on Thursday evening and headed straight to the volunteer’s dinner at Ohso Social Beach Bar. I got the golden invite as I was emcee-ing again at this event. It was great to meet my WordPress friends in such a relaxing beach atmosphere. Excellent food by the way – it was vegetarian and vegan during all the way. And after some nice drinks, it was time for my travel recover – bedtime.

Friday 8.30 AM, I was at The Old Market, the WordCamp venue, waiting for the doors to open at 9.00 AM. I was there setting up the swag table with all the best Plesk merchandise I had brought for the attendees. The sponsor area was at Tom’s Bar, a really nice spot to meet and chat, referred to as “The Hallway Track” at conferences. Check out this lovely spread:

The WordCamp organizers had decided not to produce branded WordCamp t-shirts as special swag this year, but branded reusable water bottles and coffee cups instead! What an exemplary and easy way to contribute to an eco-friendly environment – producing less waste. I really loved the idea.

The WordCamp Community Impresses Again

After the opening remarks at 9:45 AM , the first speaker Gabor Javorszky started with a very valuable talk: “Things you didn’t know you need to know about databases and WordPress.” He went into great detail and covered a lot of the more obscure database performance issues. Check him out in full-focus mode!

Then it was back to Tom’s Bar for me, meeting and chatting with the beloved WordPress community. It’s always so much fun at these WordCamps, no matter the country or city – I always experience an extraordinary and welcoming atmosphere. And I love the community for being 100% open-minded, inclusive and helpful.

5 easy steps to become certified by Plesk

At Plesk, we believe in pairing exceptional technology with the knowledge to use these tools. That is why we have made all courses and certificates from Plesk University free for everyone.

All our online courses are built with real-life scenarios, best practices, and use cases in mind, and allows you to learn at your own pace at home, in the office, or on the go. Whichever course you pick, you can expect a hands-on experience in a safe learning environment through engaging activities and lab exercises.

After completing a course, you can challenge yourself by sitting for an exam to earn yourself a Plesk University certificate, which will prove your expertise to your employers and colleagues, as well as boost your chances of landing a new job or a well-deserved pay raise.

Here’s how to get started:

Step 1: Register at Plesk University

Go to Plesk University and create a new account using your e-mail address. You’ll need to confirm your registration by clicking a link sent to your email inbox.

Step 2: Learn Plesk

Plesk University grades its courses and certification exams to three levels of proficiency that address different target audience groups and educational needs:

– Marketing & Sales Professionals

If you are a marketing professional or a sales representative, and want to know how to package and sell solutions, then the Solutions for Service Providers course is for you. You’ll learn how to use Plesk Onyx and its extensions to build specialized service offers so you can switch from selling infrastructure to selling solutions.

– Server Administrators & Hosters

If you want to start using Plesk Onyx on your server or deploy it for your customers, the Plesk Onyx Professional Course is what you’ll need. It gets you started on the path to becoming a Plesk Onyx administrator and guides you through installation, initial set up, provisioning hosting services, and performing basic administrative tasks.

– Server Administrators & Technical Engineers

But if you want to learn absolutely everything there is to know about upgrading, migrating, and troubleshooting Plesk Onyx, then the Expert courses (for Linux and Windows) are for you. Built for Plesk administrators and Technical Support Engineers, these courses are rooted in real-life scenarios, and will fashion you into a self-reliant and confident Plesk Expert.

Although you can choose to do the courses in any order, we’d recommend that you complete the Plesk Onyx Professional Course before attempting the Expert courses.

Step 3: Complete the course

Once you’ve decided which course to enroll for, head over to the course catalog to get started.

All Plesk University courses are self-paced, and split into easily digestible sessions, each about 10 to 20 minutes long. If you wish to, you can pause and resume at any point.

Expert-level courses will include additional instructions and scripts for lab exercises, which you can complete in your own lab environment to practice troubleshooting tasks.

Step 4: Schedule an exam

Once you complete the course, you’ll be automatically assigned a certification exam. There’s no requirement to complete the exam immediately, so you can take your time to review and complete practical tasks.

All exams are conducted with a remote proctor, who will verify your credentials and monitor your activity during the exam with a web camera, microphone, and remote-access software. This procedure guarantees that all Plesk certificates are only granted when fully earned.

Schedule a free exam appointment at least 72 hours in advance, or pay a small fee for priority scheduling if you just cannot wait to get that sweet certificate. Instructions on how to schedule an exam appointment are available in the introduction to each Plesk certification course.

Step 5: Pass the exam

When the time of your appointment comes, start the exam as instructed in the introduction to the certification course.

The proctor will verify your identity, secure your environment (by observing your workplace and closing all programs not allowed during the exam), and unlock the exam with a password.

The exam takes 30 to 45 minutes to complete and contains 20 to 30 multiple-choice scenario-based questions (depending on the level). To pass the exam, you must answer at least 80% of questions correctly.

If you failed on your first try, you’ll have to wait seven days for another chance to pass the exam. Spend this time revising course materials since there won’t be a third attempt.

Final step: Share your success

Once you’ve passed the exam, a certificate will be issued to you automatically. You will be able to download and print it as a PDF:

You can also share a link to your Plesk University transcript:

Questions? Check our FAQ or send us a message at [email protected] In the meantime, class dismissed! 🙂

Fireglass Recognized on CRN’s 2017 Emerging Vendors List for Security


Recently acquired by Symantec, Fireglass’ web isolation technology
strengthens Symantec’s Integrated Cyber Defense Platform and ability to
secure the cloud generation

NEW YORK–(BUSINESS WIRE)–
Fireglass,
the leading web isolation vendor, announced today that CRN®
has named Fireglass to its 2017
Emerging Vendors list
in the Security category. This list
recognizes recently founded, up-and-coming technology suppliers that are
shaping the future of the IT channel through unique technological
innovations.


Recently acquired by Symantec
Corporation, Fireglass provides web isolation technology that prevents
malware and phishing attacks from occurring with web and email activity,
while providing a seamless user experience. Fireglass’ agentless
solution executes web sessions remotely and prevents any web content
from reaching and infecting endpoints. Delivered as a cloud service or
on-premises, Fireglass augments existing security architectures to
provide secure web access to risky and uncategorized sites, while
minimizing security overhead from complex web access policies, support
tickets and alerts.


In addition to celebrating standout companies, the CRN Emerging Vendors
list serves as a valuable resource for solution providers looking
to expand their portfolios with cutting-edge technology. This year, for
the first time, the list is divided into seven categories: Cloud, Data
Center, Security, Big Data, Networking/VoIP, Internet of Things and
Storage.


“We are honored to be named to the CRN Emerging Vendors List,” said Guy
Guzner
, Fireglass’ CEO and co-founder. “Fireglass’ Web Isolation
technology is gaining traction in the marketplace, particularly among
Fortune 500 organizations that are looking for an effective solution
that helps stop malware, ransomware and phishing intrusions. Fireglass’
placement on the CRN Emerging Tech Vendors list, as well as Symantec’s
decision to invest in web isolation technology to strengthen its
Integrated Cyber Defense Platform, reflect the growing demand for web
isolation platforms in the cybersecurity industry. Further, coupling our
innovative isolation technology with Symantec’s market leading Symantec
Web Gateway (SWG) and email solutions allows this technology to be
broadly deployed, changing the game against cyber attacks at two major
vectors.”


“This impressive group of technology supplier startups is already
disrupting the status quo, aggressively creating and innovating to meet
the ever-changing demands of the IT market,” said Robert Faletra, CEO of
The Channel Company. “CRN’s 2017 Emerging Vendors represent the next
generation of IT change agents, producing a wide range of leading-edge
products that solution providers should keep an eye on in the coming
year and beyond.”


The Emerging Vendors: Security list will be featured online at www.crn.com/emergingvendors.


About Symantec:


Symantec Corporation (NASDAQ: SYMC), the world’s leading cyber security
company, helps organizations, governments and people secure their most
important data wherever it lives. Organizations across the world look to
Symantec for strategic, integrated solutions to defend against
sophisticated attacks across endpoints, cloud and infrastructure.
Likewise, a global community of more than 50 million people and families
rely on Symantec’s Norton and LifeLock product suites to protect their
digital lives at home and across their devices. Symantec operates one of
the world’s largest civilian cyber intelligence networks, allowing it to
see and protect against the most advanced threats. For additional
information, please visit visit www.symantec.com or
connect with us on FacebookTwitter,
and LinkedIn.


About The Channel Company


The Channel Company enables breakthrough IT channel performance with our
dominant media, engaging events, expert consulting and education, and
innovative marketing services and platforms. As the channel catalyst, we
connect and empower technology suppliers, solution providers and end
users. Backed by more than 30 years of unequaled channel experience, we
draw from our deep knowledge to envision innovative new solutions for
ever-evolving challenges in the technology marketplace. www.thechannelco.com


©2017. The Channel Company, LLC. CRN is a registered trademark of The
Channel Company, LLC
. All rights reserved.

Source: Symantec Corporation

Norton Core Secure Wi-Fi Router Now Available to U.S. Consumers


  • Norton Core designed with security in mind to help protect
    connected home devices

  • Previously only available for pre-order, Norton Core units are
    currently shipping and available for immediate purchase on Norton.com,
    Amazon and Best Buy

MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–
First introduced at the 2017 Consumer Electronics Show (CES), Norton
Core
, a secure, high-performance Wi-Fi router, fundamentally changed the
concept of Wi-Fi routers by making security the primary consideration.
Today, Norton by Symantec (NASDAQ: SYMC) is proud to announce that Norton Core is currently available for purchase in the U.S. at Norton.com,
BestBuy.com
and Amazon.com,
and in select Best Buy stores nationwide.


This Smart News Release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20170817005565/en/

Norton Core (Photo: Business Wire)


There is an increasing need to provide consumers with a digital safety
solution to protect their home networks and the connected devices that
power their homes. Sixty-two percent of consumers globally believe
connected devices are built with security in mind1. However,
Symantec researchers identified security vulnerabilities in 50 different
connected home devices2, ranging from smart thermostats to
smart hubs, that could make the devices easy targets for attacks.
Additionally, Symantec researchers found the number of attempted attacks
on IoT devices increased twofold from January to December 20163.


“This is an exciting day for Symantec and for consumer digital safety,”
said Fran Rosch, executive vice president and general manager, Consumer
Business, Symantec. “As the Internet of Things industry continues to
evolve, connected homes become more common, and devices within homes
continue to multiply, it’s vital that consumers have a way to protect
their family’s connected devices from new and sophisticated attacks.”

Norton Core is an exceptional new security solution that helps protect
home networks – and an unlimited number of connected devices, including
computers and mobile devices – from malware, viruses, hackers, and
cybercriminals4. Designed in the form of a geodesic dome and
inspired by defense and weather radars deployed in the extreme reaches
of the globe, Norton Core’s unique mathematical design encourages users
to place it out in the open, as part of their home décor.


In addition to its strong security capabilities and elegant design, Norton Core offers customizable parental controls allowing
parents the flexibility to set parameters that work for their family.
Daily internet usage limits for each child, filters for accessible
content, and a pause button are some of the features parents may enjoy
customizing based on their family needs.


Digital Safety in a High-Performance, Uniquely Designed Geodesic Dome


Unlike conventional routers, Norton Core was built specifically with
security in mind to protect connected homes. With network packet
inspection, combined with intelligence from a global threat database, Norton Core can help fend off threats before they infiltrate a home
network. Norton Core brings the benefit of speed, comprehensive Wi-Fi
coverage and reliability along with these additional key product
highlights5:


  • State-of-the-art Security—At the Network Level Norton Core keeps your devices and home network protected. With its
    network level protection, Norton Core uses deep packet inspection to
    inspect all traffic it deems untrusted or risky and provides
    protection against possible intrusions with its intrusion detection
    and prevention engines.

  • A Highly Secure RouterFrom comprehensive data
    encryption to real-time software updates, Norton Core fundamentally
    changes the equation to extend protection to Wi-Fi routers.

  • Smart Parental Controls — Flexible, powerful tools for
    parents to monitor and manage screen time for each child, control time
    limits by device, and set content filters. The entire network can even
    be paused.

  • Security Score — Provides users with a readout on their
    network’s weaknesses and timely insights and advice on ways to
    improve their score.

  • Bandwidth Optimization — Gives priority to any device
    or activity in the house with the touch of a button, so a movie can
    quickly be prioritized over a game console.

  • Guest Access — Create secure guest networks easily,
    with time limits. When time is up, users can simply extend access or
    let the guest network disappear.


Pricing and Availability

Norton Core is currently available for purchase online for $279.99 at Norton.com,
BestBuy.com
and Amazon.com,
as well as select Best Buy stores nationwide. Purchase of Norton Core,
available in Titanium Gold and Granite Gray, comes bundled with a
one-year complimentary subscription to Norton Core Security Plus, which
includes protection for an unlimited number of connected devices such as
laptops, desktops, Macs, Android and iOS smartphones, tablets and
IoT/connected devices6. After the first year, a subscription
renewal will be $9.99/month. To learn more, visit us.norton.com/core.


Norton Core Awards and Accolades

Norton Core is the recipient of several awards and recognition including:


  • Wall Street Journal Best of CES 2017

  • CNET All the Cool New Gadgets at CES 2017

  • ZDNet Best Smart Home, IoT Products of CES 2017

  • Techlicious Top Picks of CES 2017 Awards

  • Tom’s Guide CES 2017 Awards, Best New Tech

  • Edison Awards, Silver, Wireless Solutions


About Symantec


Symantec Corporation (NASDAQ: SYMC), the world’s leading cyber security
company, helps organizations, governments and people secure their most
important data wherever it lives. Organizations across the world look to
Symantec for strategic, integrated solutions to defend against
sophisticated attacks across endpoints, cloud and infrastructure.
Likewise, a global community of more than 50 million people and
families rely on Symantec’s Norton and LifeLock product suites to
protect their digital lives at home and across their devices. Symantec
operates one of the world’s largest civilian cyber intelligence
networks, allowing it to see and protect against the most advanced
threats. For additional information, please visit www.symantec.com or
connect with us on Facebook,
Twitter,
and LinkedIn.


NOTE TO U.S. EDITORS: If you would like additional information on
Symantec Corporation and its products, please visit the Symantec News
Room
at http://www.symantec.com/news.
All prices noted are in U.S. dollars and are valid only in the United
States
.


1Norton
Cyber Security Insights Report
(2016).


2Ballano Barcena, M., & Wueest, C. (2016). Insecurity
in the Internet of Things
, Symantec [White paper]


3Symantec
Internet Security Threat Report (2017)
.


4Subscription renewal is required for security and
parental control features after the complimentary subscription term.
Usage and other restrictions apply.


5Maximum wireless data rate is derived from IEEE
standards 802.11 specifications. Actual data speed and range may vary
due to factors such as network conditions, building construction,
obstacles and interference. Deep packet inspection, a security feature,
also affects speed.

Source: Symantec Corporation

Symantec Announces Plesk Will Integrate Symantec Encryption Everywhere Security Into Its Website Management Platform, Simplifying Encryption for Small Businesses


New Symantec Encryption Everywhere Packages Include Encrypted Email,
Award-Winning Anti-Virus and Spyware Removal from Norton

MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–
Symantec
Corp.
(NASDAQ:SYMC), one of the world’s leading cyber security
companies, today announced that Plesk, a leading WebOps platform, will
now incorporate Symantec’s Encryption Everywhere security offerings into
its website management platform and control panel, giving web
professionals, small businesses, and cloud service providers one-click
access to website encryption and customized security offerings. Symantec
Encryption Everywhere is a website security solution that enables web
hosting providers to seamlessly integrate security into every website.
The newest version of Symantec Encryption Everywhere includes secure
email and award-winning anti-virus and spyware removal from Norton.


“Small businesses, web professionals and cloud service providers want
better security for their websites, but are often intimidated by the
complexities of online security and encryption,” said Roxane Divol,
executive vice president and general manager for Website Security at
Symantec. “Yet, browsers have begun flagging unencrypted websites as
unsafe, causing businesses to lose brand trust, increase abandoned cart
rates and find themselves open to hacking. Symantec and partners like
Plesk are natively integrating basic encryption into websites and
applications for easy compliance with browser security requirements, and
options to expand beyond encryption as security needs grow.”


Plesk will make it easy to manage and activate Symantec security
packages within their website management platform and control panel.
Plesk services over 11 million websites and 19 million mail boxes in 140
countries. Plesk enables all features deeply integrated and offering all
available security offerings from Symantec at your fingertips. Hosting
partners of Plesk will be able to resell these as well.


“Encryption is no longer a nice-to-have for websites, but a must-have,”
said Nils Hueneke, CEO at Plesk. “Our goal with all our WebOps solutions
is to simplify the life of small businesses, web professionals and cloud
service providers. By partnering with Symantec, we can offer the world’s
most trusted security solutions to our customers seamlessly within our
platform. In addition, the Symantec Encryption Everywhere program gives
our partners a range of upsell opportunities that not only add value and
brand differentiation, but also additional revenue streams.”


For more information, visit https://www.symantec.com/theme/encryption-everywhere.


About Symantec Website Security


Symantec Website Security provides industry-leading security for
websites, data, and applications with SSL/TLS, certificate management,
vulnerability assessment, WAF/DDoS, malware scanning, etc. The Norton
Secured Seal and Symantec Seal-in-Search assure customers they are safe
to search, browse, interact, and buy. Symantec Website Security’s
sophisticated solutions offer the promise of a safe and trusted internet
experience across all websites and applications.


About Symantec


Symantec Corporation (NASDAQ: SYMC), a world leading cyber security
company, helps organizations, governments and people secure their most
important data wherever it lives. Organizations across the world look to
Symantec for strategic, integrated solutions to defend against
sophisticated attacks across endpoints, cloud and infrastructure.
Likewise, a global community of more than 50 million people and
families rely on Symantec’s Norton and LifeLock product suites to
protect their digital lives at home and across their devices. Symantec
operates one of the world’s largest civilian cyber intelligence
networks, allowing it to see and protect against the most advanced
threats. For additional information, please visit www.symantec.com or
connect with us on Facebook,
Twitter,
and LinkedIn.


Symantec, the Symantec Logo and the Checkmark logo are trademarks or
registered trademarks of Symantec Corporation or its affiliates in the
U.S. and other countries. Other names may be trademarks of their
respective owners.

Source: Symantec Corporation

Symantec Reports First Quarter Fiscal Year 2018 Results


Financial Highlights


  • Enterprise Security and Consumer Digital Safety segment revenue exceed
    first quarter GAAP and non-GAAP guidance

  • Q1 GAAP revenue $1.175 billion, up 33% year over year; non-GAAP
    revenue $1.228 billion, up 39% year over year

  • Consumer Digital Safety returned to growth

  • Operating margin beats Q1 GAAP and non-GAAP guidance; cost
    efficiencies and integration synergies ahead of plan


Operational Highlights


  • Enterprise Security continuing to win recognition for innovation
    through new product integrations and technology acquisitions; driving
    significant pipeline growth

  • Consumer Digital Safety growth driven by new customer acquisition,
    improved retention and higher ARPU; Digital Safety bundles now
    available in market; Norton Core now shipping

  • Recent acquisitions of Skycure and Fireglass increase capabilities in
    mobile and real-time browser protection

  • Announced signing of definitive agreement with DigiCert to acquire
    Symantec’s Website Security and related PKI solutions

MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–
Symantec Corp. (NASDAQ: SYMC) today reported its first quarter fiscal
year 2018 results, ended June 30, 2017.

Greg Clark, Symantec CEO said, “Symantec has made tremendous progress
transforming itself across both Enterprise Security and Consumer Digital
Safety over the last year. Our Integrated Cyber Defense Platform is
resonating with customers, and driving large increases in our pipeline,
with wins built on our superior technology and unmatched integration.
Consumer Digital Safety is gaining traction with customers and exceeding
expectations, with growth ahead of plan and new offerings in the market.”


“The threat environment is more dangerous and complex than ever.
Symantec protected its customers during the recent WannaCry and Petya
attacks, blocking more than one billion incursions when many
organizations were incapacitated. Our strong technology position,
roadmap and recent acquisitions of Fireglass and Skycure demonstrate our
continuing commitment to innovation that offers unparalleled security
for the cloud generation,” Clark said.


In a separate press release issued today, Symantec announced a
definitive agreement under which DigiCert will acquire Symantec’s
Website Security and related PKI solutions. The addition of Symantec’s
Website Security and related PKI solutions to DigiCert’s offerings
provides customers with an enhanced technology platform, unparalleled
customer support and market-leading innovations. Symantec is deeply
committed to ensuring a seamless transition for its customers. Under the
terms of the agreement, Symantec will receive approximately $950 million
in upfront cash proceeds and approximately a 30 percent stake in the
common stock equity of the DigiCert business at the closing of the
transaction. The transaction, which has been unanimously approved by the
Symantec Board of Directors, is expected to be completed in the third
quarter of fiscal 2018, subject to the satisfaction of customary closing
conditions. The transaction proceeds, net of expected taxes and
expenses, will be primarily used to repay debt. Additional details
related to the divestiture will be discussed on Symantec’s earnings
call, which is scheduled for 5 p.m. ET/2 p.m. PT today.


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 including constant currency information. The
method we use to produce non-GAAP results is not computed according to
GAAP and may differ from the methods used by other companies. Additional
information regarding our non-GAAP definition is provided below.

















Results for the First Quarter of Fiscal Year 2018 (Dollars in
millions, except EPS)


 

 

1Q18

 

1Q17

 

Reported Y/Y


Change


 

FX Adjusted Y/Y Change

GAAP

 

 

 

 

 

 

 

 

Revenue

 

$1,175

 

$884

 

33%

 

34%

Operating Margin

 

(3.7%)

 

12.0%

 

(1,570) bps

 

(1,520) bps

Net Income (Loss)

 

($133)

 

$135

 

N/M

 

N/A

EPS (Diluted)

 

($0.22)

 

$0.22

 

N/M

 

N/A

CFFO*

 

$213

 

($770)

 

N/M

 

N/A

 

 

1Q18

 

1Q17

 

Reported Y/Y


Change


 

FX Adjusted Y/Y Change

Non-GAAP

 

 

 

 

 

 

 

 

Revenue

 

$1,228

 

$884

 

39%

 

40%

Operating Margin

 

30.7%

 

28.6%

 

210 bps

 

240 bps

Net Income

 

$221

 

$177

 

25%

 

N/A

EPS (Diluted)

 

$0.33

 

$0.29

 

14%

 

N/A


*Cash Flow from Operating Activities


Second Quarter 2018 Guidance (Dollars in millions, except EPS and FX
rate)


This guidance does not contemplate the impact of the pending acquisition
of Symantec’s Website Security and related PKI solutions by DigiCert.




















 

 

2Q18

 

FX Adj. Y/Y Growth

GAAP

 

 

 

 

Revenue

 

$1,225 – $1,255

 

26% 29%

Enterprise Security

 

$685 – $705

 

20% 23%

Consumer Digital Safety

 

$540 – $550

 

34% 37%

Operating Margin

 

(4%) – (2%)

 

N/A

EPS

 

($0.15) – ($0.11)

 

N/A

Non-GAAP

 

 

 

 

Revenue

 

$1,260 – $1,290

 

25% – 28%

Enterprise Security

 

$700 – $720

 

15% – 18%

Consumer Digital Safety

 

$560 – $570

 

40% – 42%

Operating Margin

 

34% – 36%

 

N/A

EPS (Diluted)

 

$0.40 – $0.44

 

N/A

Non-GAAP Tax Rate

 

29.5%

 

N/A

Basic Share Count

 

~ 615 million

 

N/A

GAAP Fully Diluted Share Count

 

~ 615 million

 

N/A

Non-GAAP Fully Diluted Share Count

 

~ 670 million

 

N/A

FX Rate ($/€)

 

$1.14

 

N/A


Fiscal Year 2018 Guidance (Dollars in millions, except EPS and FX
rate)


This guidance does not contemplate the impact of the pending acquisition
of Symantec’s Website Security and related PKI solutions by DigiCert.




















 

 

FY18

 

FX Adj. Y/Y Growth

GAAP

 

 

 

 

Revenue

 

$5,037 – $5,137

 

25% 27%

Enterprise Security

 

$2,820 – $2,890

 

19% 22%

Consumer Digital Safety

 

$2,218 – $2,248

 

33% 35%

Operating Margin

 

3% – 4%

 

N/A

EPS

 

$0.01 – $0.11

 

N/A

Non-GAAP

 

 

 

 

Revenue

 

$5,160 – $5,260

 

24% – 26%

Enterprise Security

 

$2,880 – $2,950

 

16% – 19%

Consumer Digital Safety

 

$2,280 – $2,310

 

35% – 37%

Operating Margin

 

36% – 37%

 

N/A

EPS (Diluted)

 

$1.79 – $1.89

 

N/A

Non-GAAP Tax Rate

 

29.5%

 

N/A

Basic Share Count

 

~ 616 million

 

N/A

GAAP Fully Diluted Share Count

 

~ 675 million

 

N/A

Non-GAAP Fully Diluted Share Count

 

~ 675 million

 

N/A

FX Rate ($/€)

 

$1.14

 

N/A


Symantec’s Board of Directors has declared a quarterly cash dividend of
$0.075 per common share to be paid on September 13, 2017, to all
shareholders of record as of the close of business on August 21, 2017.


Conference Call


Symantec has scheduled a conference call for 5 p.m. ET/2 p.m. PT today
to discuss its first quarter fiscal 2018 results, ended June 30, 2017,
to review the pending acquisition of Symantec’s Website Security and
related PKI solutions by DigiCert, and to review guidance, which does
not contemplate the impact of this pending acquisition. Interested
parties may access the conference call on the Internet at http://www.symantec.com/invest.
To listen to the live call, please go to the website at least 15 minutes
early to register, download and install any necessary audio software.
For telephone access to the conference, call (877) 475-6198 within the
United States
or (970) 297-2372 from outside the United States. Please
call 15 minutes early and give the operator conference ID number
54539957.


A replay and our prepared remarks will be available on the investor
relations home page shortly after the call is completed.


About Symantec


Symantec Corporation (NASDAQ:SYMC), the world’s leading cyber security
company, helps organizations, governments and people secure their most
important data wherever it lives. Organizations across the world look to
Symantec for strategic, integrated solutions to defend against
sophisticated attacks across endpoints, cloud and infrastructure.
Likewise, a global community of more than 50 million people and families
rely on Symantec’s Norton and LifeLock product suites to protect their
digital lives at home and across their devices. For additional
information, please visit www.symantec.com or
connect with us on Facebook,
Twitter,
and LinkedIn.


NOTE TO EDITORS: If you would like additional information
on Symantec Corporation and its products, please visit the Symantec News
Room at http://www.symantec.com/news.
All prices noted are in U.S. dollars and are valid only in the United
States
.


Symantec, the Symantec logo and the Checkmark logo are trademarks or
registered trademarks of Symantec Corporation or its affiliates in the
U.S. and other countries. Other names may be trademarks of their
respective owners.


Forward-Looking Statements: This press release contains
statements which may be considered forward-looking within the meaning of
the U.S. federal securities laws, including the information contained
under the caption “Second Quarter 2018 Guidance (Dollars in millions,
except EPS and FX rate)” and “Fiscal Year 2018 Guidance (Dollars in
millions, except EPS and FX rate)” and the statements regarding
Symantec’s other projected financial and business results, including
demand for its products and services, Symantec’s enhanced capabilities
and the impact of the pending acquisition of Symantec’s Website Security
and related PKI solutions by DigiCert. These statements are subject to
known and unknown risks, uncertainties and other factors that may cause
our actual results, levels of activity, performance or achievements to
differ materially from results expressed or implied in this press
release. Such risk factors include those related to: the satisfaction of
the conditions to closing of the pending acquisition of Symantec’s
Website Security and related PKI solutions by DigiCert and risks related
thereto; the retention of employees of acquired companies and the
ability of Symantec to successfully integrate acquired companies and to
achieve expected benefits; general economic conditions; fluctuations and
volatility in Symantec’s stock price; the ability of Symantec to
successfully execute strategic plans; the ability to maintain customer
and partner relationships; anticipated growth of certain market
segments; our sales pipeline and business strategy; fluctuations in tax
rates and currency exchange rates; the timing and market acceptance of
new product releases and upgrades; and the successful development of new
products and integration of acquired businesses, and the degree to which
these products and businesses gain market acceptance. Actual results may
differ materially from those contained in the forward-looking statements
in this press release. Symantec assumes no obligation, and does not
intend, to update these forward-looking statements as a result of future
events or developments. Additional information concerning these and
other risk factors is contained in the Risk Factors sections of
Symantec’s Form 10-K for the fiscal year ended March 31, 2017.


USE OF NON-GAAP FINANCIAL INFORMATION: Our results of operations have
undergone significant change due to the impact of purchase accounting on
revenue and cost of revenue, certain acquisition and integration costs,
discontinued operations, stock-based compensation, restructuring and
transition matters, charges related to the amortization of intangible
assets, non-cash interest expense and amortization of debt issuance
costs and certain other income and expense items that management
considers unrelated to the Company’s core operations. To help our
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 including constant currency information. The
method we use to produce non-GAAP results is not computed according to
GAAP and may differ from the methods used by other companies. Non-GAAP
financial measures are supplemental, should not be considered a
substitute for financial information presented in accordance with GAAP
and should be read only in conjunction with our consolidated financial
statements prepared in accordance with GAAP. Our management team uses
these non-GAAP financial measures in assessing Symantec’s operating
results, as well as when planning, forecasting and analyzing future
periods. Investors are encouraged to review the reconciliation of our
non-GAAP financial measures to the comparable GAAP results, which is
attached to our quarterly earnings release and which can be found, along
with other financial information, on the investor relations page of our
website at: http://www.symantec.com/invest.
















































 

SYMANTEC CORPORATION

Condensed Consolidated Balance Sheets

(In millions, unaudited)

 

 

 

 

 

 

 

 

June 30, 2017

 

 

 

March 31, 2017 (1)

 

 

 

ASSETS

 

Current assets:

Cash and cash equivalents

$

2,306

$

4,247

Accounts receivable, net

468

649

Other current assets

 

399

 

 

 

 

428

Total current assets

 

3,173

 

 

 

 

5,324

 

Property and equipment, net

895

937

Intangible assets, net

2,892

3,004

Goodwill

8,638

8,627

Equity investments

158

158

Other long-term assets

 

112

 

 

 

 

124

Total assets

$

15,868

 

 

 

$

18,174

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

Current liabilities:

Accounts payable

$

121

$

180

Accrued compensation and benefits

206

272

Current portion of long-term debt

-

1,310

Deferred revenue

2,329

2,353

Income taxes payable

22

30

Other current liabilities

 

443

 

 

 

 

477

Total current liabilities

 

3,121

 

 

 

 

4,622

 

Long-term debt

6,202

6,876

Long-term deferred revenue

465

434

Deferred income tax liabilities

2,332

2,401

Long-term income taxes payable

261

251

Other long-term obligations

 

98

 

 

 

 

103

Total liabilities

 

12,479

 

 

 

 

14,687

 

 

 

 

 

Total stockholders’ equity

 

3,389

 

 

 

 

3,487

Total liabilities and stockholders’ equity

$

15,868

 

 

 

$

18,174

 

 

 

 

 

 

 

 

(1) Derived from audited consolidated financial
statements.

 




















































 

SYMANTEC CORPORATION


Condensed Consolidated Statements of Operations


(In millions, except per share data, unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

Year-Over-Year

Three Months Ended

 

Growth Rate

June 30,

July 1,

 

Constant

2017

 

2016

 

Actual

 

Currency (1)

 

Net revenues

$

1,175

$

884

33

%

34

%

Cost of revenues

 

257

 

 

 

149

 

 

72

%

 

74

%

Gross profit

 

918

 

 

 

735

 

 

25

%

 

26

%

 

Operating expenses:

Sales and marketing

433

291

Research and development

233

170

General and administrative

149

84

Amortization of intangible assets

59

14


Restructuring, transition and other


 

88

 

 

 

70

 

 

 

 

 

Total operating expenses

 

962

 

 

 

629

 

 

53

%

 

54

%

Operating income (loss)

 

(44

)

 

 

106

 

 

-142

%

 

-136

%

 

Interest income

6

5

Interest expense

(84

)

(27

)

Other income (expense), net

 

(12

)

 

 

13

 

 

 

 

 

Income (loss) from continuing operations before income taxes

 

(134

)

 

 

97

 

 

-238

%

 

N/A

 

Income tax expense (benefit)

 

(24

)

 

 

31

 

Income (loss) from continuing operations

(110

)

66

Income (loss) from discontinued operations, net of income taxes

 

(23

)

 

 

69

 

 

 

 

 

Net income (loss)

$

(133

)

 

$

135

 

 

-199

%

 

N/A

 

 

Income (loss) per share – basic:

Continuing operations

$

(0.18

)

$

0.11

Discontinued operations

(0.04

)

0.11

Net income (loss) per share – basic

(0.22

)

0.22

 

Income (loss) per share – diluted:

Continuing operations

$

(0.18

)

$

0.11

Discontinued operations

(0.04

)

0.11

Net income (loss) per share – diluted

(0.22

)

0.22

 

Weighted-average shares outstanding – basic

609

613

 

Weighted-average shares outstanding – diluted

609

620

 

Cash dividends declared per common share

 

$

0.075

 

 

$

0.075

 

 

 

 

 

 

(1) Management refers to growth rates adjusting for
currency so that the business results can be viewed without the
impact of fluctuations in foreign currency exchange rates. We
compare the percentage change in the results from one period to
another period in order to provide a framework for assessing how our
underlying businesses performed excluding the effect of foreign
currency rate fluctuations. To present this information, current and
comparative prior period results for entities reporting in
currencies other than United States dollars are converted into
United States dollars at the current exchange rates in effect during
the respective prior period.

 






















































 

SYMANTEC CORPORATION

Condensed Consolidated Statements of Cash Flows

(In millions, unaudited)

 

 

 

 

 

 

Three Months Ended

June 30, 2017

 

July 1, 2016 (1)

 

OPERATING ACTIVITIES:

Net income (loss)

$

(133

)

$

135

(Income) loss from discontinued operations, net of income taxes

23

(69

)

Adjustments to continuing operating activities:

Depreciation and amortization, including debt issuance costs and
discounts

191

72

Stock-based compensation expense

147

49

Deferred income taxes

(62

)

33

Other

14

27

Changes in operating assets and liabilities, net of acquisitions:

Accounts receivable, net

188

244

Accounts payable

(32

)

(63

)

Accrued compensation and benefits

(68

)

(52

)

Deferred revenue

(21

)

(139

)

Income taxes

40

(940

)

Other assets

3

(2

)

Other liabilities

 

(39

)

 

 

(35

)

Net cash provided by (used in) continuing operating activities

251

(740

)

Net cash used in discontinued operating activities

 

(38

)

 

 

(30

)

Net cash provided by (used in) operating activities

 

213

 

 

 

(770

)

 

INVESTING ACTIVITIES:

Additions to property and equipment

(47

)

(22

)

Payments for acquisitions, net of cash acquired

(8

)

-

Proceeds from maturities and sale of short-term investments

-

30

Other

 

1

 

 

 

7

 

Net cash provided by (used in) investing activities

 

(54

)

 

 

15

 

 

FINANCING ACTIVITIES:

Repayments of debt and other obligations

(2,010

)

(17

)

Proceeds from issuance of debt, net of issuance costs

-

994

Net proceeds from sales of common stock under employee stock benefit
plans

11

1

Tax payments related to restricted stock units

(61

)

(24

)

Dividends and dividend equivalents paid

(66

)

(68

)

Other

 

-

 

 

 

10

 

Net cash provided by (used in) financing activities

 

(2,126

)

 

 

896

 

 

Effect of exchange rate fluctuations on cash and cash equivalents

 

26

 

 

 

(16

)

Change in cash and cash equivalents

(1,941

)

125

Beginning cash and cash equivalents

 

4,247

 

 

 

5,983

 

Ending cash and cash equivalents

$

2,306

 

 

$

6,108

 

 

 

 

 

 

 

(1) We adopted ASU 2016-09 Stock-Compensation in Q1 FY18.
As part of the adoption of this ASU, prior period excess income tax
benefits from the exercise of stock options have been reclassified
from financing activities to operating activities to conform with
the FY18 presentation.

 




















































 

 

SYMANTEC CORPORATION

Reconciliation of Selected GAAP Measures to Non-GAAP Measures
(1)

(Dollars in millions, except per share data, unaudited)

 

 

 

 

 

 

 

 

Year-Over-Year

Three Months Ended

 

Non-GAAP Growth Rate

June 30, 2017

 

July 1, 2016

 

Constant

GAAP

 

Adj

 

Non-GAAP

 

GAAP

 

Adj

 

Non-GAAP

 

Actual

 

Currency (3)

 

Net revenues (2)

$

1,175

 

 

$

53

 

 

$

1,228

 

 

$

884

 

 

$

-

 

 

$

884

 

 


39%


 


40%


 

Gross profit:

$

918

$

114

$

1,032

$

735

$

9

$

744


39%


40%


Deferred revenue fair value adjustment (2)

53

-

Stock-based compensation

6

3

Amortization of intangible assets

 

 

 

55

 

 

 

 

 

 

 

6

 

 

 

 

 

 

 

 

Gross margin %

 

78.1

%

 

 

5.9

%

 

 

84.0

%

 

 

83.1

%

 

 

1.1

%

 

 

84.2

%

 

-20 bps

 

-10 bps

 

Operating expenses:

$

962

$

(307

)

$

655

$

629

$

(138

)

$

491


33%


34%


Stock-based compensation

(141

)

(46

)

Amortization of intangible assets

(59

)

(14

)


Restructuring, transition and other


(88

)

(70

)

Acquisition and integration costs

 

 

 

(19

)

 

 

 

 

 

 

(8

)

 

 

 

 

 

 

 

Operating expenses as a % of revenue

 

81.9

%

 

 

-28.6

%

 

 

53.3

%

 

 

71.2

%

 

 

-15.7

%

 

 

55.5

%

 

-220 bps

 

-240 bps

 

Operating income (loss)

$

(44

)

 

$

421

 

 

$

377

 

 

$

106

 

 

$

147

 

 

$

253

 

 


49%


 


52%


 

Operating margin %

 

-3.7

%

 

 

34.4

%

 

 

30.7

%

 

 

12.0

%

 

 

16.6

%

 

 

28.6

%

 

210 bps

 

240 bps

 

Net income (loss):

$

(133

)

$

354

$

221

$

135

$

42

$

177


25%


N/A

Gross profit adjustment

114

9

Operating expenses adjustment

307

138

Non-cash interest expense and amortization of debt issuance costs

27

-

Income tax effects and adjustments

(117

)

(36

)

Total net income adjustment from discontinued operations

 

 

 

23

 

 

 

 

 

 

 

(69

)

 

 

 

 

 

 

 

Diluted income (loss) per share:

Income (loss) per share from continuing operations

$

(0.18

)

$

0.51

$

0.33

$

0.11

$

0.18

$

0.29


Income (loss) per share from discontinued operations


(0.04

)

0.04

-

0.11

(0.11

)

-

Diluted net income (loss) per share

 

(0.22

)

 

 

0.55

 

 

 

0.33

 

 

 

0.22

 

 

 

0.07

 

 

 

0.29

 

 


14%


 

N/A

 

Diluted weighted-average shares outstanding

 

 

609

 

 

 

55

 

 

 

664

 

 

 

620

 

 

 

-

 

 

 

620

 

 


7%


 

N/A

 

(1) This presentation includes non-GAAP measures.
Non-GAAP financial measures are supplemental and should not be
considered a substitute for financial information presented in
accordance with GAAP. For a detailed explanation of these non-GAAP
measures, please see Appendix A.

(2) The adjustment for the three months ended June 30,
2017 relates to the Blue Coat and LifeLock deferred revenue fair
value adjustments as a result of purchase accounting. For further
information please see Appendix A.

(3) Management refers to growth rates adjusting for
currency so that the business results can be viewed without the
impact of fluctuations in foreign currency exchange rates. We
compare the percentage change in the results from one period to
another period in order to provide a framework for assessing how our
underlying businesses performed excluding the effect of foreign
currency rate fluctuations. To present this information, current and
comparative prior period results for entities reporting in
currencies other than United States dollars are converted into
United States dollars at the current exchange rates in effect during
the respective prior periods.

 







































 

SYMANTEC CORPORATION

Revenue Detail (1)

(Dollars in millions, unaudited)

 

 

Three Months Ended

June 30, 2017

 

July 1, 2016

 

 

GAAP

 

Adj (2)

 

Non-GAAP

 

GAAP

Revenues

 

 

 

 

 

 

 

 

Total Revenues

$

1,175

 

$

53

 

$

1,228

 

$

884

Total Y/Y Growth Rate

33

%

6

%

39

%

-3

%

Total Y/Y Growth Rate in Constant Currency (3)

 

 

34

%

 

 

6

%

 

 

40

%

 

 

-4

%

 

 

 

 

 

 

 

 

 

Revenues by Segment

 

 

 

 

 

 

 

 

Consumer Digital Safety

$

529

$

30

$

559

$

403

Enterprise Security

 

 

646

 

 

 

23

 

 

 

669

 

 

 

481

 

Revenues by Segment – Y/Y Growth Rate

 

 

 

 

 

 

 

 

Consumer Digital Safety

31

%

8

%

39

%

-6

%

Enterprise Security

 

 

34

%

 

 

5

%

 

 

39

%

 

 

0

%

Revenues by Segment – Y/Y Growth Rate in Constant Currency
(3)

 

 

 

 

 

 

 

 

Consumer Digital Safety

32

%

8

%

40

%

-8

%

Enterprise Security

 

 

36

%

 

 

5

%

 

 

41

%

 

 

-1

%

 

 

 

 

 

 

 

 

 

Revenues by Geography

 

 

 

 

 

 

 

 

International

$

496

$

12

$

508

$

425

U.S.

 

 

679

 

 

 

41

 

 

 

720

 

 

 

459

 

Revenues by Geography – Y/Y Growth Rate

 

 

 

 

 

 

 

 

International

17

%

3

%

20

%

-3

%

U.S.

 

 

48

%

 

 

9

%

 

 

57

%

 

 

-3

%

Revenues by Geography – Y/Y Growth Rate in Constant Currency
(3)

 

 

 

 

 

 

 

 

International

19

%

3

%

22

%

-6

%

U.S.

 

 

48

%

 

 

9

%

 

 

57

%

 

 

-3

%

 

(1) This presentation includes non-GAAP measures.
Non-GAAP financial measures are supplemental and should not be
considered a substitute for financial information presented in
accordance with GAAP. For a detailed explanation of these non-GAAP
measures, please see Appendix A.

(2) The adjustment for the three months ended June 30,
2017 relates to the Blue Coat and LifeLock deferred revenue fair
value adjustments as a result of purchase accounting. For further
information please see Appendix A.

(3) Management refers to growth rates adjusting for
currency so that the business results can be viewed without the
impact of fluctuations in foreign currency exchange rates. We
compare the percentage change in the results from one period to
another period in order to provide a framework for assessing how our
underlying businesses performed excluding the effect of foreign
currency rate fluctuations. To present this information, current and
comparative prior period results for entities reporting in
currencies other than United States dollars are converted into
United States dollars at the current exchange rates in effect during
the respective prior period.

 





























 

 

 

 

 

 

 

 

 

 

 

 

 

SYMANTEC CORPORATION

Operating Margin by Segment Detail (1)

(Dollars in millions, unaudited)

 

 

 

 

 

 

 

 

 

Three Months Ended

June 30, 2017

 

July 1, 2016

 

 

GAAP

 

Adj (2)

 

Non-GAAP

 

GAAP

Operating Income by Segment

 

 

 

 

 

 

 

 

Consumer Digital Safety

$

230

$

30

$

260

$

225

Enterprise Security

 

 

94

 

 

 

23

 

 

 

117

 

 

 

28

 

Total Operating Income by Segment

 

 

324

 

 

 

53

 

 

 

377

 

 

 

253

 

Reconciling Items:

Stock-based compensation

147

(147

)

-

49

Amortization of intangible assets

114

(114

)

-

20


Restructuring, transition and other


88

(88

)

-

70

Acquisition and integration costs

 

 

19

 

 

 

(19

)

 

 

-

 

 

 

8

 

Total Consolidated Operating Income (Loss)

 

$

(44

)

 

$

421

 

 

$

377

 

 

$

106

 

 

 

 

 

 

 

 

 

 

Operating Margin by Segment

 

 

 

 

 

 

 

 

Consumer Digital Safety

43

%

4

%

47

%

56

%

Enterprise Security

 

 

15

%

 

 

2

%

 

 

17

%

 

 

6

%

 

(1) This presentation includes non-GAAP measures.
Non-GAAP financial measures are supplemental and should not be
considered a substitute for financial information presented in
accordance with GAAP. For a detailed explanation of these non-GAAP
measures, please see Appendix A.

(2) The operating income adjustment for the three months
ended June 30, 2017 relates to the Blue Coat and LifeLock deferred
revenue fair value adjustments as a result of purchase accounting.
For further information please see Appendix A.

 


SYMANTEC CORPORATION


Explanation of Non-GAAP Measures and Other Items


Appendix A


Objective of non-GAAP measures: We believe
our presentation of non-GAAP financial measures, when taken together
with corresponding GAAP financial measures, provides meaningful
supplemental information regarding the Company’s operating performance
for the reasons discussed below. Our management team uses these non-GAAP
financial measures in assessing our operating results, as well as when
planning, forecasting and analyzing future periods. We believe that
these non-GAAP financial measures also facilitate comparisons of our
performance to prior periods and to our peers and that investors benefit
from an understanding of the non-GAAP financial measures. Non-GAAP
financial measures are supplemental and should not be considered a
substitute for financial information presented in accordance with GAAP.


No reconciliation of the forecasted range for non-GAAP guidance is
included in this release because it would be unreasonably burdensome to
forecast the acquisition and other charges associated with the Fireglass
Ltd.
and Skycure Ltd. acquisitions that may impact the GAAP measure. The
impact, which may be significant, of purchase accounting non-cash
compensation expense and other non-cash charges, are not yet known and
subject to change, and the variability of these charges could have a
significant, and unpredictable, impact on Symantec’s future GAAP
financial results.


Discontinued operations: On January 29,
2016
, we completed the sale of Veritas. The results of Veritas are
presented as discontinued operations in our Condensed Consolidated
Statements of Operations and thus have been excluded from continuing
operations and segment results for all reported periods.


Deferred revenue fair value adjustment: Our
non-GAAP net revenues eliminates the impact of the Blue Coat and
LifeLock deferred revenue purchase accounting adjustments required by
U.S. GAAP. U.S. GAAP requires an adjustment to the liability for
acquired deferred revenue such that the liability approximates how much
we the acquirer would have to pay a third party to assume the liability.
We believe that eliminating the impact of this adjustment improves the
comparability of revenues between periods. Also, although the adjustment
amounts will never be recognized in our U.S. GAAP financial statements,
we do not expect the acquisitions to affect the future renewal rates of
revenues excluded by the adjustments. In addition, our management uses
non-GAAP net revenues, excluding the impact of purchase accounting
adjustments to assess our operating performance and overall revenue
trends. Nevertheless, non-GAAP net revenues has limitations as an
analytical tool and should not be considered in isolation or as a
substitute for U.S. GAAP net revenues. Additionally, other companies in
our industry may not calculate these measures in the same manner which
may limit their usefulness for comparative purposes.


Stock-based compensation: This consists of
expenses for employee stock options, restricted stock units, performance
based awards and our employee stock purchase plan determined in
accordance with the authoritative guidance on stock-based compensation.
When evaluating the performance of our individual business units and
developing short- and long-term strategic plans, we do not consider
stock-based compensation charges. Our management team is held
accountable for cash-based compensation, but not for stock-based
compensation expenses as we believe that management is limited in its
ability to project the impact of stock-based compensation would have on
our operating results. In addition, for comparability purposes, we
believe it is useful to provide a non-GAAP financial measure that
excludes stock-based compensation in order to better understand the
long-term performance of our core business and to facilitate the
comparison of our results to the results of our peer companies. The
following table sets forth our stock-based compensation expenses for the
reported periods:













 


Three Months Ended


June 30,

 

 

 

July 1,

2017

2016

Cost of revenue

$


6


$

3

Sales and marketing

43

14

Research and development

41

15

General and administrative

57

17

Total continuing operations

stock-based compensation

$

147

$

49

 


Amortization of intangible assets: When
conducting internal development of intangible assets, accounting rules
require that we expense the costs as incurred. In the case of acquired
businesses, however, we are required to allocate a portion of the
purchase price to the accounting value assigned to intangible assets
acquired and amortize this amount over the estimated useful lives of the
acquired intangible assets. The acquired company, in most cases, has
itself previously expensed the costs incurred to develop the acquired
intangible assets, and the purchase price allocated to these assets is
not necessarily reflective of the cost we would incur in developing the
intangible asset. We eliminate these amortization charges from our
non-GAAP operating results to provide better comparability of pre- and
post-acquisition operating results and comparability to results of
businesses utilizing internally developed intangible assets.


Acquisition and integration costs: These
represent the transaction and integration costs associated with the Blue
Coat and LifeLock acquisitions. These costs include all incremental
expenses incurred to effect these business combinations. Acquisition
costs include advisory, legal, accounting, valuation, and other
professional or consulting fees. We exclude the transaction and
integration expenses as they are related to acquisitions and thus have
no direct correlation to the operation of our business, and because we
believe that the non-GAAP financial measures excluding these costs
provide meaningful supplemental information regarding our operational
performance and liquidity. In addition, excluding these costs from the
non-GAAP measures facilitates comparisons to our historical operating
results and comparisons to peer company operating results.


Restructuring, transition and other: We
have engaged in various restructuring, transition and other activities
over the past several years that have resulted in costs associated with
severance, facilities, transition, and other related costs. Transition
and associated costs primarily consist of consulting charges associated
with the implementation of new enterprise resource planning systems and
costs to automate business processes. Additionally, other costs
primarily consist of asset write-offs and advisory fees incurred in
connection with restructuring events. Each restructuring, transition and
other activity has been a discrete event based on a unique set of
business objectives or circumstances, and each has differed from the
others in terms of its operational implementation, business impact and
scope. We do not engage in restructuring, transition or other activities
in the ordinary course of business. While our operations previously
benefited from the employees and facilities covered by our various
restructuring charges, these employees and facilities have benefited
different parts of our business in different ways, and the amount of
these charges has varied significantly from period to period. We believe
that it is important to understand these charges and that investors
benefit from the presentation of non-GAAP financial measures excluding
these charges to facilitate a more meaningful evaluation of our current
operating performance and comparisons to our past operating performance.


SYMANTEC CORPORATION


Explanation of Non-GAAP Measures and Other Items


Appendix A (continued)


Non-cash interest expense and amortization of debt
issuance costs
: In accordance with GAAP, we separately account
for the value of the conversion feature on our convertible notes as a
debt discount, which is amortized in a manner that reflects our debt
borrowing rates. Additionally, we amortize debt issuance costs over the
term of the related debt. We exclude the difference between the imputed
interest expense, which includes the amortization of the conversion
feature and of the issuance costs, and the coupon interest expense,
because we believe that excluding these costs provides meaningful
supplemental information regarding operational performance and
liquidity, along with enhancing investors’ ability to view the Company’s
results from management’s perspective. In addition, we believe excluding
these costs from the non-GAAP measures facilitates comparisons to our
historical operating results and comparisons to peer company operating
results.


Income tax effects and adjustments: Our
non-GAAP tax rate for the first quarter of fiscal 2018 was 29.5%. We use
a projected long-term non-GAAP tax rate in order to provide better
consistency across the interim financial reporting periods by
eliminating the effects of stock-based compensation, amortization of
intangible assets, restructuring, transition and other related charges.
The long-term projected non-GAAP tax rate also reflects the elimination
of the effects of certain discontinued operations accounting policy
elections and unique GAAP reporting requirements under discontinued
operations as a result of the sale of Veritas. This long-term tax rate
could be subject to change for a variety of reasons, such as significant
changes in the geographic earnings mix due to acquisition activities or
fundamental tax law changes in major jurisdictions where we operate. We
will evaluate and assess the appropriateness of this rate annually,
giving due consideration to the impacts of significant events and
structural changes in the Company.


Diluted GAAP and non-GAAP weighted-average shares
outstanding
: Diluted GAAP and non-GAAP weighted-average shares
outstanding are the same except in periods that there is a GAAP loss
from continuing operations. In accordance with authoritative accounting
guidance, we do not present dilution for GAAP in periods in which there
is a loss from continuing operations. However, if there is non-GAAP net
income, we present dilution for non-GAAP weighted-average shares
outstanding in an amount equal to the dilution that would have been
presented had there been GAAP income from continuing operations for the
period.

Source: Symantec Corp.

DigiCert to Acquire Symantec’s Website Security and Related PKI Solutions

MOUNTAIN VIEW, Calif. & LEHI, Utah–(BUSINESS WIRE)–
Symantec Corp. (NASDAQ:SYMC), the world’s leading cyber security
company, and DigiCert Inc., a leading provider of scalable identity and
encryption solutions for the enterprise, today announced an agreement
under which DigiCert will acquire Symantec’s Website Security and
related PKI solutions. Under the terms of the agreement, Symantec will
receive approximately $950 million in upfront cash proceeds and
approximately a 30 percent stake in the common stock equity of the
DigiCert business at the closing of the transaction.


The addition of Symantec’s website security solutions to DigiCert’s
offerings will bring together the industry’s top talent and provide
customers with an enhanced technology platform, unparalleled customer
support and market-leading innovations. DigiCert will gain capabilities
to take advantage of growth opportunities in IoT and bring new
approaches to the SSL market. DigiCert will continue to operate from its
headquarters in Lehi, Utah and will employ over 1,000 professionals.


“Transitioning our Website Security and related PKI solutions to
DigiCert allows us to sharpen our enterprise focus on delivering
unparalleled protection for the cloud generation through Symantec’s
Integrated Cyber Defense Platform. As our recently announced deals with
Fireglass and Skycure demonstrate, we are accelerating the pace of
innovation we bring to market through a combination of acquisitions as
well as development from the ground up,” said Symantec CEO Greg Clark.


Clark added, “We carefully examined our options to ensure our customers
would have a world-class experience with a company that offers a modern
website PKI platform and is poised to lead the next generation of
website security innovation. I’m thrilled that our customers will
benefit from a seamless transition to DigiCert, a company that is solely
focused on delivering leading identity and encryption solutions.
Symantec is deeply committed to the success of this transition for our
customers.”


“We look forward to building a great security company and supporting all
of Symantec’s and DigiCert’s customers well into the future. We have
assembled the best team in the industry to help us deliver even better
security solutions and service to our customers,” said DigiCert CEO John
Merrill
. “DigiCert is committed to providing the market with innovative
products, the highest level of trust, and experienced leadership in the
SSL and PKI community. We are excited about the opportunities ahead, and
will work toward a smooth transition for customers and employees of
Symantec’s Website Security business.”


“We know the cyber security market well and have worked closely with
DigiCert to achieve high growth and develop customer-friendly
solutions,” said Robert Sayle, a Partner at Thoma Bravo, the private
equity firm that has backed DigiCert since 2015. “With this transaction,
DigiCert expands its incredible talent and experience to lead the next
generation of global website security. We are excited to support this
enhanced company as it serves its customers and pursues opportunities
for innovation and growth.”


DigiCert will continue to be led by CEO John Merrill and an executive
team with significant industry experience. Given the shared commitment
to customer service, existing Symantec Website Security customers will
be able to transition to a new platform that meets all industry
standards and browser requirements and provides the foundation for
future innovation in the Certificate Authority space for the benefit of
customers.


The transaction, which has been unanimously approved by the Symantec
Board of Directors, is expected to be completed in the third quarter of
fiscal 2018, subject to the satisfaction of customary closing conditions.


J.P. Morgan Securities LLC is serving as financial advisor, and Fenwick
& West LLP
is serving as legal counsel to Symantec. Financing for the
transaction was provided by UBS Investment Bank, Credit Suisse,
Jefferies Finance LLC and Goldman Sachs Bank USA. UBS Investment Bank,
Credit Suisse and Jefferies LLC are serving as financial advisors, and
Kirkland & Ellis LLP is serving as legal counsel to Thoma Bravo and
DigiCert.


About Symantec


Symantec Corporation (NASDAQ: SYMC), the world’s leading cyber security
company, helps organizations, governments and people secure their most
important data wherever it lives. Organizations across the world look to
Symantec for strategic, integrated solutions to defend against
sophisticated attacks across endpoints, cloud and infrastructure.
Likewise, a global community of more than 50 million people and families
rely on Symantec’s Norton and LifeLock product suites to protect their
digital lives at home and across their devices. Symantec operates one of
the world’s largest civilian cyber intelligence networks, allowing it to
see and protect against the most advanced threats. For additional
information, please visit www.symantec.com
or connect with us on Facebook, Twitter, and LinkedIn.


NOTE TO U.S. EDITORS: If you would like additional information on
Symantec Corporation and its products, please visit the Symantec News
Room
at http://www.symantec.com/news.
All prices noted are in U.S. dollars and are valid only in the United
States
.


Symantec, the Symantec logo and the Checkmark logo are trademarks or
registered trademarks of Symantec Corporation or its affiliates in the
U.S. and other countries. Other names may be trademarks of their
respective owners.


About DigiCert


DigiCert is a leading provider of scalable security solutions for a
connected world. The most innovative companies, including the Global
2000, choose DigiCert for its expertise in identity and encryption for
web servers and Internet
of Things
 devices. DigiCert supports SSL/TLS and
other digital certificates for PKI deployments at any scale through its
certificate lifecycle management platform, CertCentral®.
The company has been recognized with dozens of awards for its
enterprise-grade management platform, fast and knowledgeable customer
support, and market-leading growth. For the latest DigiCert news and
updates, visit digicert.com or
follow @digicert.


About Thoma Bravo


Thoma Bravo is a leading private equity firm focused on the software and
technology-enabled services sectors. With a series of funds representing
more than $17 billion in capital commitments, Thoma Bravo partners with
a company’s management team to implement operating best practices,
invest in growth initiatives and make accretive acquisitions intended to
accelerate revenue and earnings, with the goal of increasing the value
of the business. Representative past and present portfolio companies
include industry leaders such as Blue Coat Systems, Deltek, Digital
Insight, Global Healthcare Exchange, Hyland Software, PowerPlan, Qlik,
Riverbed, SailPoint, SolarWinds, SonicWall, Sparta Systems and
TravelClick. The firm has offices in San Francisco and Chicago.


Forward-Looking Statements


This press release contains statements regarding the pending sale of our
website security and related PKI solutions, which may be considered
forward-looking within the meaning of the U.S. federal securities laws,
including statements regarding the expected benefits to be realized as a
result of the sale and statements with respect to the proposed timing of
the closing of the sale. These statements are subject to known and
unknown risks, uncertainties and other factors that may cause our actual
results, performance or achievements to differ materially from results
expressed or implied in this press release. Such risk factors include
those related to: satisfying all closing conditions and consummating the
pending transaction; general economic conditions; maintaining customer
and partner relationships; fluctuations in tax rates and currency
exchange rates; the timing and market acceptance of new product releases
and upgrades; the successful development of new products, and the degree
to which these products and businesses gain market acceptance. Actual
results may differ materially from those contained in the
forward-looking statements in this press release. We assume no
obligation, and do not intend, to update these forward-looking
statements as a result of future events or developments. Additional
information concerning these and other risks factors is contained in the
Risk Factors section of our Form 10-K for the year ended March 31, 2017.

Source: Symantec Corp.