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TECHNOLOGY BRIEFS

McAfee Beats Expectations

April 17, 2001|Reuters

McAfee.com Corp., distributor of anti-virus software, reported a first-quarter loss of $1.4 million, or 3 cents a share, better than the 5-cent loss analysts expected. The company also said it recorded its first cash flow-positive quarter, generating $3.6 million from operations, which will help it either reach the break-even point or become slightly profitable this year. McAfee posted a loss of 14 cents a year ago. Revenue grew 25% to $12.8 million, as revenue from subscriptions grew to 60% of total revenue from 30% a year ago. McAfee shares closed off 38 cents at $6.11, before the results were released.

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