McAfee reports net profits up 11% to US$60.6mn in Q4

Friday, February 18, 2011

US software security firm McAfee (NYSE: MFE) saw its net profits grow 11% year-over-year to US$60.6mn in the fourth quarter of 2010, according to results released by the company.

McAfee reported revenues of US$550mn for 4Q10, up 5% from US$526mn during the same quarter in 2009.

Full-year net profits for McAfee in 2010 reached US$184mn, representing 6% growth from 2009. Revenues for 2010 were up 7% to US$2.1bn.

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McAfee said its acquisition by US chip manufacturer Intel (NYSE: INTC) is on track to close in the first quarter of 2011. This year, McAfee also said, the company is well positioned to expand the global reach of its security protection, driven by growth trends in mobility, virtualization and embedded devices.

According to McAfee's Q3 Threat Report, average daily malware growth is at an all-time high, while spam is at its lowest point since 2008. McAfee Labs predicts geolocation, mobile devices and Apple devices will top the list of targets for emerging threats in 2011.

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