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Symantec Corp. has a market cap of $13.72 billion; its shares were traded at around $16.93 with a P/E ratio of 12.7 and P/S ratio of 2.3. Symantec Corp. had an annual average earning growth of 20.6% over the past 10 years. GuruFocus rated Symantec Corp. the business predictability rank of 3.5-star.SYMC is in the portfolios of Private Capital of Private Capital Management, Mason Hawkins of Southeastern Asset Management, PRIMECAP Management, Dodge & Cox, John Buckingham of Al Frank Asset Management, Inc., Stanley Druckenmiller of Duquesne Capital Management, LLC, Louis Moore Bacon of Moore Capital Management, LP, HOTCHKIS & WILEY of HOTCHKIS & WILEY Capital Management LLC, David Dreman of Dreman Value Management, Jeremy Grantham of GMO LLC, George Soros of Soros Fund Management LLC.
Highlight of Business Operations: Fluctuations in the U.S. dollar compared to foreign currencies positively impacted our international revenue by approximately $64 million for the three months ended January 1, 2010 and negatively impacted our international revenue by approximately $25 million for the nine months ended January 1, 2010, as compared to the same periods last year. Our operating expenses during the three months ended January 1, 2010 were unfavorably impacted by a weaker U.S. dollar as compared to the same period last year while operating expenses during the nine months ended January 1, 2010 were favorably impacted by a stronger U.S. dollar as compared to the same period last year. We are unable to predict the extent to which revenue in future periods will be impacted by changes in foreign currency exchange rates. If our level of international sales and expenses increase in the future, changes in foreign exchange rates may have a potentially greater impact on our revenue and operating results.
Our net income was $300 million and $523 million for the three and nine months ended January 1, 2010, respectively, as compared to our net loss of $6.8 billion and $6.5 billion for the three and nine months ended January 2, 2009, respectively. Net income for the three and nine months ended January 1, 2010 was positively impacted by a $78.5 million tax benefit in the third quarter of fiscal 2010 resulting from the December 2009 decision in the U.S. Tax Court relating to the Veritas 2000 and 2001 tax years. In addition, net income for the three and nine months ended January 1, 2010 was impacted by $43 million and $46 million of net gain, respectively, from the liquidation of certain foreign legal entities. Our net loss for the three and nine months ended January 2, 2009 was largely a result of the $7.0 billion non-cash goodwill impairment charge incurred during the third quarter of fiscal 2009.
Net revenue increased for the three months ended January 1, 2010, as compared to the same period last year, due to a $95 million increase in Content, subscription, and maintenance revenue partially offset by a $61 million decrease in License revenue. The net increase was primarily driven by the items discussed above under “Financial Results and Trends.”
Net revenue decreased for the nine months ended January 1, 2010, as compared to the same period last year, due to a $314 million decrease in License revenue partially offset by an $86 million increase in Content, subscription, and maintenance revenue. The net decrease was primarily driven by the items discussed above under “Financial Results and Trends.”
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