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LatAm leads Symantec's growth in the Americas

October 2, 2006
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(BNamericas.com Via Thomson Dialog NewsEdge) US security software giant Symantec sees Latin America as the region leading the company's growth in the Americas, Argentine newspaper El Cronista reported Symantec VP for Latin America, Wilson Grava as saying.



"At this moment, Latin America is leading the growth in the continent. It is a market in expansion and we currently have [growth] rates of 30%, above rates registered in the US and Canada," the paper quoted Grava as saying.

The executive said multinational companies and government agencies are among Symantec's major clients in the region and the company's consulting and services unit has grown as customers require complete management of their security infrastructure.

Grava said that Brazil, Mexico, Colombia, Venezuela and Argentina are the biggest markets for the company in the region.

Symantec saw its net profit fall nearly 52% to US$95mn in the first quarter of fiscal year 2007, ended June 30, compared to US$199mn in the same period last year.

The Americas region, including the United States, Latin America and Canada, contributed 55% of total revenue but declined 1% year-over-year, BNamericas previously reported. Revenue for the period came in at US$1.26bn, up 80% year-on-year.

Headquartered in Cupertino, California, Symantec provides a broad range of content and network security software and appliance solutions to enterprises, individuals and service providers. Products include solutions for management of data, application and infrastructure, security, and storage and service, as well as enterprise and consumer security and response and managed security services.

Copyright 2006 BNamericas.com


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