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Symantec profit misses consensus by 31.2% in fiscal Q3

Symantec Corp. said its normalized net income for the fiscal third quarter ended Jan. 1 amounted to 17 cents per share, compared with the S&P Capital IQ consensus estimate of 24 cents per share.

EPS increased year over year from 6 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $111.9 million, a gain from $43.8 million in the prior-year period.

The normalized profit margin rose to 12.3% from 4.5% in the year-earlier period.

Total revenue fell 6.3% on an annual basis to $909.0 million from $970.0 million, and total operating expenses fell 19.4% on an annual basis to $713.0 million from $885.0 million.

Reported net income totaled $114.1 million, or 17 cents per share, compared to a loss of $27.6 million, or a loss of 4 cents per share, in the prior-year period.