Updated from 5:32 p.m. EDTSAN FRANCISCO -- IT security company Symantec ( SYMC) beat analyst expectations for the second quarter, though profit fell and the company issued weak guidance for the coming quarter. The results sent shares of Symantec down $1.77, or 8.42%, to $19.25 in recent after-hours trading. Net income for the second quarter fell to $50 million, or 6 cents a share, from $126 million, or 13 cents a share, a year ago. The earnings included a writedown of $87 million associated with what the company called its "non-strategic" data center management assets. Excluding items, Symantec posted earnings of 29 cents a share, or $263 million, compared with 26 cents a share, or $261 million a year ago. Analysts polled by Thomson Financial were expecting 26 cents a share. Revenue for the quarter was $1.42 billion, higher than analyst expectations of $1.39 billion. A year ago Symantec posted revenue of $1.27 billion. Deferred revenue at the end of the second quarter was $2.6 billion, compared to $2.33 billion at the end of the September 2006 quarter. Excluding charges, deferred revenue reached $2.62 billion, up 12% from $2.35 billion a year ago. Cupertino, Calif.-based Symantec said a review of its product portfolio led the company to write down some of the assets that were acquired by storage firm Veritas in 2003 and 2004. Symantec announced it would buy Veritas for $13.5 billion in December 2004.