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From: Roger Knott (MKT-US)
Sent: Friday, July 30, 2010 6:17:55 AM
To: Newsbank
Subject: Newsbank - McAfee to acquire tenCube and earnings
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http://www.mercurynews.com/breaking-news/ci_15632779?nclick_check=1
McAfee to acquire tenCube, reports increased profit, sales
Posted: 07/29/2010 02:10:41 PM PDT
McAfee, the
McAfee also reported a $39.4 million profit for its most recent quarter, up 38 percent from a year earlier. Second-quarter revenue jumped 4 percent to $489.2 million.
According to Bloomberg News, McAfee's sales came in under Wall Street analysts' average estimate of $507 million.
CEO Dave DeWalt blamed "foreign currency headwinds" for the lower-than-expected revenue, but said McAfee had "strong operating cash flow, coupled with solid consumer and corporate bookings" during the quarter.
McAfee expects the tenCube acquisition to close next month. According to a company statement, the deal gives McAfee "a single platform, from the consumer to the enterprise, to address the management and security of all device types."
Before the announcements, McAfee stock closed at $30.25, down 87 cents, or 2.8 percent. The shares were up slightly in after-hours trading.
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