I have no doubts that everyone has heard the name “McAfee” mentioned in the context of computer security, or is even using the products of this company. However, it isn’t always the case that the consumers know about the company itself. Let’s now take a look at the company rather than its products.
The company engaging in the security of your computers McAfee, Inc. (NYSE: MFE) was bought out by Intel Corporation in the middle of August and for 7.68 billion dollars became Intel’s subsidiary. Being under the same umbrella with a large company, McAffe practically has no point to worry about any financial problems. However, it remains a public company and keeps reporting financial results independently.[BANNER]
What do the financial reports of McAfee show? While we are waiting for the Q3 2010 results, let’s take a look at the situation of the company before the merger took place. According to Q2 financial report, the income of the company increased by 39% (from $28 million to $39 million) in a year. On the one hand, the company had enough money to cover all its expenses, but in the meantime the total current assets went down from $1.707 million to $1.586 million in 2010. At the same time, the current liabilities increased by 1%.
All in all, earnings per share climbed up from $0.18 to $0.26. Although the year 2010 does not look really promising, the acquisition is going to solve problems like this.
