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The maker of Norton anti-virus software hit a rocky patch with its purchase of infrastructure software firm Veritas. But with a new market for anti-virus software and a focus on long-term growth, analysts believe Symantec will demonstrate excellent growth in its upcoming fiscal first quarter earnings report and beyond.

"They've spent four years trying to digest the Veritas acquisition, but people are starting to believe that the heavy lifting is behind them," said Soleil-Mackinac Research analyst Frederick Ziegel.

Wall Street is predicting a profit of 35 cents per share in the fiscal first quarter, up from 29 cents a share a year ago. And Symantec may have the BlackBerry and iPhone to thank: As the popularity of smart phones increases with average consumers, hackers will have a whole new platform to wreak their havoc. And that should translate into rising demand for Symantec's mobile anti-virus software.

"As you start shipping smart phones with Mobile Office 6, you'll start facing the same problems that IT faces in the PC market," said Ziegel. "You could get another leg of growth in the anti-virus market."

Symantec set a goal in January to grow revenues 8% to 12% a year for the next several years. Analysts expect profits to grow 12% annually over the same period. And the company may be able to boost profits further thanks to cost cutting and share repurchases. In fact, the company has earmarked about one half of its cash flow to buy back stock, according to Ziegel.

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