McAfee Beats Estimates

Revenue grows 15%.
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First-quarter profit rose at security software maker

McAfee

(MFE)

, beating analyst expectations, as revenue grew more than 15%.

Net income rose to $46.2 million, or 28 cents a share, from $40.9 million, or 25 cents a share, a year earlier.

Excluding charges and other items, the company earned 44 cents a share, beating by 10 cents the estimate of analysts polled by Thomson Financial.

Total revenue rose to $314.2 million from $272 million, beating estimates of $292.1 million.

Revenue from North America was $164 million and accounted for 52% of overall revenue, up 9% from $151 million, or 55% of total revenue the year before.

Revenue from Europe and the Middle East grew 24% from a year earlier, Japan grew 18%, Asia Pacific grew 35% and Latin America grew 26%.

Consumer revenue was $129 million, a 16% gain over the same period last year.

For the second quarter, McAfee to earn 18 cents to 23 cents a share, and 33 cents to 38 cents a share before items, on revenue of $295 million to $310 million.

Analysts were expecting earnings of 37 cents a share before items on revenue of $302.2 million.

For all of 2007, McAfee expects to earn $1.07 to $1.27 a share, and $1.55 to $1.65 a share before items, on net revenue of $1.22 billion to $1.3 billion.

Analysts were expecting earnings before items of $1.52 a share on revenue of $1.24 billion.

Shares of McAfee were recently up 72 cents, or 2.4%, to $31.