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McAfee beats summer slump

McAfee's earnings for the third quarter are expected to rise 57 percent, largely due to growth in its security and management software products.

McAfee (MCAF) today said its earnings for the third quarter are expected to rise 57 percent, largely due to growth in its security and management software products.

McAfee said earnings should be 36 cents per share, up from 23 cents a share a year ago. The year-ago comparison excludes a $10.8 million charge for the acquisition of Saber Software.

Wall Street's earnings estimate for McAfee is 32 cents a share.

Revenues, meanwhile, are expected to reach $47 million for the quarter, an increase of 83 percent compared with the same time last year.

"We're pleased with the preliminary third quarter results," said Bill Larson, McAfee's chairman, chief executive, and president. "Although the third quarter is typically a soft quarter for most software vendors, we experienced accelerating growth across our family of network security and management solutions. Our balance sheet continued to be strong with over $110 million in cash."

McAfee will announce its third quarter results on October 21.