McAfee Inc. (NYSE:MFE) reported Q1 EPS of $0.57 cents, ex-items, topping consensus estimates of $0.48 cents. Revenues in the quarter rose 21% year-over-year to $447.7 million, in-line with consensus estimates of $448.5 million. The company guided for Q2, expecting revenue of $455 million to $475 million (vs. estimates of $466 million) and non-GAAP EPS of $0.54 to $0.58 per diluted share (vs. $0.54 consensus estimate). Dave Dewalt, president and CEO commented, "McAfee's first quarter 2009 performance reflected record quarterly revenue of $448 million and our continued focus on improving profitability and operating cash flow. Non-GAAP earnings per share for the first quarter of 2009 reached a record quarterly high, while operating cash flow increased 105 percent compared to the first quarter of 2008 to $146 million, also a quarterly record for the company."

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