Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- Ask the CIO
- Building the Hybrid Cloud
- Connected Government: How to Build and Procure Network Services for the Future
- Continuing Diagnostics and Mitigation: Discussion of Progress and Next Steps
- Federal Executive Forum
- Federal Tech Talk
- The Future of Government Data Centers
- The Future of IT: How CIOs Can Enable the Service-Oriented Enterprise
- The Intersection: Where Technology Meets Transformation
- Maximizing ROI Through Data Center Consolidation
- Moving to the Cloud. What's the best approach for me
- Navigating Tough Choices in Government Cloud Computing
- The New Generation of Database
- Satellite Communications: Acquiring SATCOM in Tight Times
- Targeting Advanced Threats: Proven Methods from Detection through Remediation
- Transformative Technology: Desktop Virtualization in Government
- The Truth About IT Opex and Software Defined Networking
- Value of Health IT
- Air Traffic Management Transformation Report
- Cloud First Report
- General Dynamics IT Enterprise Center
- Gov Cloud Minute
- Government in Technology Series
- Homeland Security Cybersecurity Market Report
- National Cybersecurity Awareness Month
- Technology Insights
- The Cyber Security Report
- The Next Generation Cyber Security Experts
Shows & Panels
Symantec fires CEO, chairman is replacing him
Wednesday - 7/25/2012, 4:06pm EDT
MOUNTAIN VIEW, Calif. (AP) - Symantec has fired its CEO, Enrique Salem, and replaced him with Chairman Steve Bennett.
The computer security and data storage company said Wednesday that the move is effective immediately. Bennett, who will stay on as chairman, says it was in Symantec's "best interests" to change CEOs.
Salem had been with the company for 19 years and was CEO for the past three years. Symantec says Salem's departure was not because of a particular event or any impropriety, but that the company has healthy assets yet is "underperforming against the opportunity."
Symantec also said Wednesday that its fiscal first-quarter net income fell 10 percent, hurt by restructuring costs and a stronger dollar. Symantec also spent more investing in technology. A rising dollar means money earned outside the U.S. takes a hit when it's translated back into the dollar.
The company earned $172 million, or 24 cents per share, in the April-June period. That's up from $191 million, or 25 cents per share, a year earlier.
Revenue rose 1 percent to $1.67 billion.
Adjusted earnings were 43 cents per share in the latest quarter.
Analysts, on average, were expecting earnings of 38 cents per share on revenue of $1.65 billion, according to a poll by FactSet.
For the current quarter, Symantec is forecasting revenue of $1.64 billion to $1.67 billion. It expects adjusted earnings of 35 cents to 39 cents per share.
Analysts are expecting profit of 40 cents per share and revenue of $1.69 billion.
The Mountain View, Calif., company's stock rose $1.79, or 13.5 percent, to $14.96.
This story is part of Federal News Radio's daily Cybersecurity Update. For more cybersecurity news, click here. (Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)