Wunderlich Comments On Symantec Q4 Results

According to Wunderlich Securities, Symantec SYMC delivered solid Q4 results. Wunderlich Securities said that EPS of $0.38 was $0.02 ahead of consensus while revenue of $1.67B was ahead of the $1.6B consensus estimates. “While the acquisition of Verisign was a material contributor to y/y revenue growth (+4.3%), we see the 4% organic growth in the quarter as a reflection that Symantec's business is making the slow transition back to growth mode. Additionally, we see numerous tailwinds to EPS expansion in FY12 including lower OEM fees, a weaker dollar, and acquisition accounting. Accordingly, we remain favorably biased toward the name, but continue to monitor for indications of sustainability and acceleration in the company's pace of revenue growth.” Symantec closed yesterday at $19.41.