NortonLifeLock Inc (NLOK) released its fourth quarter results on Tuesday, May 11, 2021. The company reported net earnings of $0.33 per share for the fourth quarter ending March 31, 2021. Earnings for this past quarter were up 143 percent compared to the same period a year ago.
NortonLifeLock Inc. was founded in 1982 and is headquartered in Tempe, Arizona. NortonLifeLock Inc. provides cyber safety solutions for consumers worldwide. The company offers Norton security solutions as a subscription service providing protection for PCs, Macs, and mobile devices against malware, viruses, adware, ransomware, and other online threats on various platforms; and LifeLock identity theft protection solution that offers monitoring, alerts, and restoration services to its customers.
NortonLifeLock's revenue decreased 17 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins decreased to 87.8% for the fourth quarter compared to the same period in the previous year, and operating margins increased to 42.41% over the same period. Net earnings for past trailing twelve months were $696.0 million, up 24% from the prior year.
Moving on to the balance sheet, NortonLifeLock's cash levels dropped 57% for the fourth quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 38.68% this past year. The current ratio for NortonLifeLock now stands at 0.72. The company decreased shares outstanding by 4.4%.
Shares of NLOK are currently trading around $23.35. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 25.19.
_____
This article was written by Value Investing News (https://www.valueinvestingnews.com) on Wednesday, May 12, 2021.