Business Services Industry
Antivirus Software Maker Network Associates Reports Loss and Lower Sales.
Knight Ridder/Tribune Business News, April, 2001
By Elise Ackerman, San Jose Mercury News, Calif. Knight Ridder/Tribune Business News
Apr. 20--Network Associates reported a hefty loss Thursday and a large decline in sales for the first quarter, as the Santa Clara maker of security software struggled to adjust to stricter accounting standards it adopted in December.
The company reported a net loss of $47 million, or 35 cents a share, compared to a net profit of $29 million, or 20 cents a share, for the same period a year ago. Sales were $170 million, a 21 percent drop from the same quarter a year ago.
Excluding the financial results of McAfee.com, its online subsidiary, Network Associates lost $24 million on sales of $157 million. The loss was in line with analysts' expectations, according...
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