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Symantec Corporate Presentation
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- 2. Forward Looking Statements Thispresentation contains statements regarding our intention to execute a new strategy, implement operational and organizational changes and our projected financial and business results, as well as our intention to return cash to shareholders through dividends and continued share buyback activity, which may be considered forward‐looking within the meaning of the U.S. federal securities laws. These statements are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied in this presentation. Such risk factors include those related to: maintaining customer and partner relationships; the anticipated growth of certain market segments, particularly with regard to security and storage; the competitive environment in the software industry; changes to operating systems and product strategy by vendors of operating systems; fluctuations in currency exchange rates; the timing and market acceptance of new product releases and upgrades; the successful development of new products and integration of acquired businesses; and the degree to which these products and businesses gain market acceptance. Actual results may differ materially from those contained in the forward‐looking statements in this presentation. Additional information concerning these and other risk factors is contained in the Risk Factors section of our Form 10‐K for the year ended March 29, 2013. Any information regarding pre-release Symantec offerings, future updates or other planned modifications is subject to ongoing evaluation by Symantec and therefore subject to change. This information is provided without warranty of any kind, express or implied. Customers who purchase Symantec offerings should make their purchase decision based upon features that are currently available. We assume no obligation to update any forward‐looking information contained in this presentation. 2
- 3. Use of GAAPand Non-GAAP Financial Information Our results of operations have undergone significant changes due to a series of acquisitions, the impact of SFAS 123(R), impairment charges and other corporate events. To help our readers understand our past financial performance and our future results, we supplement the financial results that we provide in accordance with generally accepted accounting principles, or GAAP, with non‐GAAP financial measures. The method we use to produce non‐GAAP results is not computed according to GAAP and may differ from the methods used by other companies. Our non‐GAAP results are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Our management regularly uses our non‐GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. These non‐GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Investors are encouraged to review the reconciliation of our non‐GAAP financial measures to the comparable GAAP results, which is attached to the financial review presentation, and which can also be found, along with other financial information, on the investor relations page of our website at www.symantec.com/invest. 3
- 4. Founded in 1982 $7Billion Revenue More than 20,000 Employees Operations in 48 Countries 100 Percent of the Fortune 500 are Customers More Than 1,900 Global Patents 4
- 5. Protects More Than1 Billion Systems Reviews 8 Billion Email Messages and 1.4 Billion Web Request a Day The Largest Backup and Recovery Company on the Planet Protects More Than 135 Million Consumers with Norton Security Products 5
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- 7. Key Symantec Strengths Strong Assets DeepExpertise and Capability Portfolio of Leading Products Strong Brands Reach and Installed Base 7 7
- 8. Financial Strength –FY13 Business Snapshot Revenue Mix by Segment Revenue Mix by Geography IM 38% UPP 43% Americas 54% EMEA 27% APJ 19% IS 19% (Americas includes the U.S., Latin America, and Canada) Segment User Productivity & Protection Information Security Information Management FY13 Revenue $ (in millions) Y/Y Growth (FX adjusted) $2,976 $1,301 $2,629 2% 10% 5% $6.9 billion 3%* 8 *Organic FX adjusted Y/Y Revenue Growth 8
- 9. Corporate Responsibility Investing inthe community, workplace and environment • STEM Education, Online Safety, Diversity, Environment • $24M philanthropy in FY13 • Energy-saving Green IT solutions • 20 LEED-certified buildings globally • 12 Energy Star buildings globally • Established employee Green Teams • More than 25,000 hours volunteered • Annual Code of Conduct training • Signatory UN Global Compact • 100% Human Rights Campaign Corporate Equality Index • Signatory, Women’s Empowerment Principles • #40 NewsWeek Green Rankings • FTSE4Good Global Index • Dow Jones Sustainability Index – North America and World • 2013 World’s Most Ethical Companies 9
- 10. Protecting What Matters Intellectual Property Financial Integrity Control of Identities & Privacy Reliabilityof the Public Infrastructure 10 10
- 11. Global Intelligence Network Identifiesmore threats + takes action faster + prevents impact Global Scope and Scale Worldwide Coverage 24x7 Event Logging Rapid Detection Threat Activity Malcode Intelligence Vulnerabilities Spam/Phishing 240,000+ Sensors 133M Client, Server, Gateway Global Coverage 40,000+ Vulnerabilities 14,000 Vendors 105,000+ Technologies 5M Decoy Accounts 8B+ Email Messages/Daily 1B+ Web Requests/Daily 200+ Countries Preemptive Security Alerts Presentation Identifier Goes Here Information Protection Threat Triggered Actions 11 11
- 12. We make theworld a safer place by helping people, businesses, and governments protect and manage their information, so they can focus on achieving their goals. 12
- 13. Solving Customers’ MostCritical Problems & Expanding our Total Available Market Deliver greater than 5% organic revenue growth CAGR and better than 30% non-GAAP operating margin in FY15-17 Our 3 Priorities Offerings Go-to-Market Work Smart – Better execution and easier to do business with us 13
- 14. 4.0 How We Win Bestof Need Scale Integration Cross Platform 14 14
- 15. We Will StrengthenOur Offerings: More R&D Right-for-Me Offering Better Meet Customer Needs . . . Faster Organic Growth Better and Easier Customer Experience New Offerings 15
- 16. We Will StrengthenOur Offerings: More R&D More Innovation More R&D • Increase R&D spend • Redeploy and hire • Advanced research File Systems Right-for-Me Offering Better Meet Customer Needs . . . Faster Organic Growth Better and Easier Customer Experience Leverage Innovation Encryption DLP Center of Excellence Endpoint Protection Security Intelligence New Offerings Zero-based mindset • Whole company scope • Resource best growth opportunities • Eliminate redundancy 16
- 17. We Will StrengthenOur Offerings: Better and Easier Customer Experience More R&D Right-for-Me Offering Better Meet Customer Needs . . . Faster Organic Growth To Use, Upgrade and Maintain Better and Easier Customer Experience • Focus product teams on end-to-end customer use experience • Simplified licensing • Self-healing technology • Simplified support options To Get Help • Expanded support and Support channels ex. Web, chat, community support • Knowledge management New Offerings 17
- 18. We Will StrengthenOur Offerings: Right-For-Me-Offerings • Consumers • Small Tailored Businesses Offerings • Large Enterprise More R&D Right-for-Me Offering Better Meet Customer Needs . . . Faster Organic Growth • Geographies • Specific Industries…v erticals • Governments Better and Easier Customer Experience • Software Choice of • Appliance Deployment Option • Cloud • Hybrids New Offerings 18
- 19. New Offerings WillAddress broader Customer Needs More R&D Right-for-Me Offering Better Meet Customer Needs . . . Faster Organic Growth •Integrated, modular, solving bigger jobs Better and Easier Customer Experience •Customer can buy existing products OR new integrated offerings •Turn on new capability as needed New Offerings 19
- 20. Symantec Addresses Unmet,Underserved Needs In Three Areas User Productivity & Protection Make it simple for me to be productive & protected at home and work Information Security Keep my business safe and compliant Information Management Keep my business information and applications up and running 20
- 21. New Current OfferingsMap to Customer Jobs Current Offering Examples User Productivity & Protection Information Security Information Management Norton 360 Norton Mobile Security Norton Data Services Endpoint Protection Enterprise Mobility Endpoint Encryption User Authentication Managed Security Services Data Loss Prevention Mail and Web Security O3 Control Compliance Suite Critical System Protection Trust Services Storage Foundation HA NetBackup Enterprise Vault/eDiscovery Backup Exec BE.cloud FileStore 21 21
- 22. We Will DeliverNew Integrated, Modular Offerings Over the Next 6-24 Months New Higher-Value Offerings User Productivity & Protection Information Security Information Management Mobile Workforce Productivity Norton Protection Norton Cloud Information Security Service Identity/Content-aware Security Gateway Data Center Security Business Continuity Object Storage Platform Information Fabric Software Defined Storage 22 22
- 23. User Productivity &Protection Higher-Value Offering: Mobile Workforce Productivity Enables authorized users to access corporate resources from any corporate or personal mobile device, PC or Mac while protecting data, applications, devices and identities Integrated • Endpoint protection • Corporate • Personal Employee Owned/BYOD Enterprise Applications Corporate Owned • Mobile device management • Mobile container • Mobile application Management • Enterprise app store • Endpoint encryption • Endpoint DLP • User authentication Cloud Services 23 23
- 24. Information Security Higher-ValueOffering: Information Security Service Provides visibility into, and comprehensive protection from, advanced threats leveraging Symantec and 3rd-party products Integrated • Analysis Symantec Security Offerings 3rd-Party Products and Tools Symantec Global Security Intelligence Network Enterprise Apps • Correlation • Visibility • Dashboard • Threat Detection • Prioritization and Workflow • Incident Management • Risk Management 24 24
- 25. Information Management Higher-ValueOffering: Business Continuity Delivers high availability, performance, and scalability for business applications in virtual, private cloud environments Applications Integrated • Windows Backup • Unix/Linux Backup • Virtual Backup • Clustering Platforms • Virtual HA • Replication • Disaster Recovery Storage • Service Orchestration 25 25
- 26. Simplified Go-to-Market (GTM)Strategy Customer Segment Global Enterprise • Global & Enterprise… Symantec direct + Customer led channel involvement Commercial • Channel-led… dedicated Symantec team support Norton Consumer and Small Business • Combination of direct through e-business and channel-led Applied “Right for GEO” manner 26 26
- 27. New Marketing andSales Capabilities • Expanded Marketing • New business growth - Field paid only on new over time - Separate renewals org • Expanded high quality/ lower cost models - Telesales - e-Business - In product • New global sales and partner enablement organization Beyond Current Point Products to Integrated Offerings Offerings Beyond Short-Term Bookings to Lasting Customer Value Customers - Total customer experience - New centers of excellence - Strategic Pricing & Licensing • New, enhanced partner program - More selective based on capabilities - Better enablement & Symantec support - New performance-based incentives 27 27
- 28. Work Smart Engaging ourpeople… especially front line Built and expanding team of process management experts Named process owners for critical cross functional processes Upgrading IT capability… aligned to improved processes 28
- 29. Financial Objectives Organic growthgreater than 5% in FY15-FY17 Planning on 5 quarters of transition Non-GAAP operating margin grow 200 bps in FY14 & FY15 Return approximately 50% of FCF to shareholders through dividends and share repurchases 29 29
- 30. How This BenefitsCustomers Solve Bigger Problems Better and Easier Right-for-Me Offerings How They Want to Buy 30 30
- 31. Contact Investor Relations HelynCorcos Vice President (650)527-5523 hcorcos@symantec.com 31 31
Editor's Notes
- #29 In January we announced a strategy and operational plan to transform Symantec to help us perform at a much higher level for our employees, customers and partners. And we’re making progress. From January-August 2013, we undertook an initiative to simplify our organization… to get our management structure better aligned with industry standards, and to ensure we had the right people doing the right jobs to lead us to the next chapter in our history. We upgraded our leadership team and continue to align to our True North objectives at every level of the company.The operational phase of our strategy is now underway… it’s where we begin to link our strategy to execution and the point at which you’ll begin to see greater evidence of our progress. As we’re in the early stages, our leaders have been taking the time to identify the jobs they need to do to deliver against the work we’ve defined and we’ve had excellent progress in building those teams. We’re making solid progress on our GTM, realigning our sales teams and territories to be more effective for our customers, while rebuilding our renewals organization and compensation models. And moving forward with the products and services we’ve committed to deliver, while being more efficient and strategic with our point product solutions based on market opportunity. We’re making it easier for Partners to do business with Symantec. We’re now in phase two of partner reviews… getting their input on how we can make it easier to do business with us by providing incentives based on competencies, and ensuring we have the right partners selling the solutions that fit those competencies.We’re focused on driving employee engagement, delivering against our Employee Value Promise and investing in people, process and technology infrastructure to make it easier to do business with us via our Work Smart model.…And we’ve launched six initiatives that will give customers a greater voice into our decision-making at every level of the company because we’re going to serve our customers’ needs like never before…