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Symantec 4.0Steve BennettPresident and Chief Executive Officer
Morgan Stanley ConferenceFebruary 27, 2013
Forward Looking Statements
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This presentation 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 30, ‐2012 and in our Form 8-K filed on June 11, 2012.
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.‐
Use of GAAP and Non-GAAP Financial Information
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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.
Background and Strategic Implications
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Strong Assets No Strategy Siloed Org Poorly Run
New Control Points Keep Emerging…Customers’ Needs Are Not Being Met
Focused on 3 Things… Execution and Change Management
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Products and Services
GTM and Global Strategy
People and Organization
Thoughtful Approach to Changes… Timing Very Important
Offerings… Making Point Solutions Even Better
Norton 360Norton Mobile Security
Norton Data ServicesEndpoint ProtectionEnterprise MobilityEndpoint EncryptionUser Authentication
User Productivity & Protection Information Security Information Management:
Availability & Scalability
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Managed Security ServicesData Loss Prevention
Mail and Web SecurityO3
Control Compliance SuiteCritical System Protection
Trust Services
Storage Foundation HANetBackup
Enterprise Vault/eDiscoveryBackup Exec
BE.cloudFileStore
Portfolio of Leading Products
Point Products… Invest Based on OpportunityConsolidate or Divest Assets as Required
We Will Deliver New Integrated, Modular Offerings Over the Next 6-24 Months
User Productivity & Protection
Information Security
Information Management: Availability & Scalability
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New Higher-Value Offerings
Mobile Workforce Productivity
Norton Protection
Norton Cloud
Information Security Service
Identity/Content-aware Security Gateway
Data Center Security
Business Continuity
Integrated Backup
Cloud-based Info Management
Object Storage Platform
Enables authorized users to access corporate resources from any corporate or personal mobile device, PC or Mac while protecting data, applications,
devices and identities
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New Higher-Value Offering: Mobile Workforce Productivity
Employee Owned/BYOD
Corporate Owned
Enterprise Applications
Cloud Services
• Endpoint protection• Corporate• Personal
• Mobile device management• Mobile container• Mobile application
Management• Enterprise app store• Endpoint encryption• Endpoint DLP • User authentication
Integrated
Solves an important customer problem and builds competitive advantage
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New Higher-Value Offering: Business Continuity
Applications
Platforms
Storage
• Windows Backup
• Unix/Linux Backup
• Virtual Backup
• Clustering
• Virtual HA
• Replication
• Disaster Recovery
• Service Orchestration
Integrated
Solves an important customer problem and builds competitive advantage
Delivers high availability, performance, and scalability for business applications in virtual, private cloud environments
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Provides visibility into, and comprehensive protection from, advanced threats leveraging Symantec and 3rd-party products
New Higher-Value Offering: Information Security Service
Enterprise Apps
Symantec Security Offerings
3rd-Party Products and Tools
Symantec Global Security Intelligence Network
• Analysis
• Correlation
• Visibility
• Dashboard
• Threat Detection
• Prioritization and Workflow
• Incident Management
• Risk Management
Integrated
Solves an important customer problem and builds competitive advantage
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Applied “Right for GEO” manner
Customer Segment
Commercial
Norton Consumer andSmall Business
Enterprise
• Global & Enterprise… Symantec direct + Customer led channel involvement
• Channel-led… dedicated Symantec team support
• Combination of direct through e-business and channel-led
Simplified Go-to-Market (GTM) Strategy
Global
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• Expanded high quality/ lower cost models- Telesales- e-Business- In product
• New business growth- Field paid only on new over time- Separate renewals org
• New global sales and partner enablement organization
New Marketing and Sales Capabilities
• New, enhanced partner program- More selective based on capabilities- Better enablement & Symantec support- New performance-based incentives
• Expanded Marketing- Total customer experience- New centers of excellence- Strategic Pricing & Licensing
Offerings Customers
Beyond Current
Point Products to Integrated Offerings
Beyond Short-Term Bookings to
Lasting Customer
Value
Organization Simplification Initiative
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• Addressing spans and layers• 3 waves• Completed by June
Financial Objectives
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• Organic growth story• Planning for 5 quarters of transition• Operating margins grow 200 bps next 2 years • Return cash to shareholders
─ Over time, return 50% as a dividend and 50% via buybacks─ Initiating a dividend with a targeted yield of 2.5 % in 1Q14
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Q&A
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Thank You