McAfee posts strong Q1 results

McAfee posts strong Q1 results

Net income for the quarter increases to $40.89m

Security and antivirus firm McAfee reported yesterday that net income for the quarter ended 31 March increased to $40.89m, compared to $35.9m in the same period last year.

Net sales grew to $271.9m, up from $235.7m a year ago. McAfee's consumer business delivered 41 per cent of revenues at $111.6m, compared to $106.2m last year.

The corporate business delivered 59 per cent of revenues during the quarter at $160.2m compared to $147.4m a year ago.

McAfee's online consumer services division added 1.9 million new subscribers in the quarter, bringing the total number of unique subscribers to 19.2 million.

"McAfee demonstrated strong growth across the business this quarter, achieving double-digit growth across consumer and strong demand for our network protection, anti-spyware and Foundstone Services," said George Samenuk, chairman and chief executive at McAfee.

"We have also expanded our consumer reach into seven new countries with localised products, including China, Korea and Eastern Europe, as demand continues to grow on a global basis."