McAfee, Inc. Reports Record Results for the Second Quarter of 2009

Announces Agreement to Acquire MX Logic, Providing Most Comprehensive Security-as-a-Service Portfolio

(PresseBox) ( Santa Clara, Calif., )
McAfee, Inc. (NYSE:MFE) today reported financial results for the second quarter ended June 30, 2009.

Second Quarter Financial Highlights:

- Revenue reached a record $469 million, an increase of 18 percent year-over-year and five percent quarter-over-quarter
- Deferred revenue reached a record $1.31 billion, an increase of 20 percent year-over-year and three percent quarter-over-quarter
- Currency fluctuations had a negative impact of $22 million on revenue year-over-year with minimal quarter-over-quarter impact. Currency fluctuations had a negative impact of $45 million on deferred revenue year-over-year and a positive impact of $29 million on deferred revenue quarter-over-quarter.
- GAAP and non-GAAP earnings per diluted share were $0.18 and $0.60, respectively
- Non-GAAP earnings per diluted share reached a record $0.60, an increase of 15 percent year-over-year and five percent quarter-over-quarter

Executive Commentary:

"For the second quarter of 2009, we are proud to report quarterly records in revenue, deferred revenue, non-GAAP operating income, and non-GAAP net income," said Dave DeWalt, McAfee's president and chief executive officer. "Our continued market share gains prove customers and partners choose McAfee for security leadership."

"With our pending acquisition of MX Logic, McAfee expects to strengthen our position as an innovative leader in the security Software-as-a-Service segment with one of the most diverse portfolios in the industry. We expect to bring customers enhanced cloud based email and Web security with archiving in a rapidly growing segment," continued DeWalt. "This combination will give customers greater access to critical messaging SaaS offerings and an expanded network of partners across the world."

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