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Reuters.com

Enrique Salem of Symantec Corp speaks during the Reuters Global Technology, Media and Telecom Summit at the Thomson Reuters headquarters in New York City May 19, 2008.

NEW YORK (Reuters) - Symantec Corp's (SYMC.O: Quote, Profile, Research) business is strong in the first half of the year despite the U.S. economic downturn, fueled by corporate demand for security software and gains in overseas sales, Chief Operating Officer Enrique Salem said on Monday.

"We have a good pipeline right now. Our business is very strong for the first half of the year and I expect that to continue," Salem told the Reuters Global Technology, Media and Telecoms Summit in New York.

"Our business is not optional. Whether the economy is doing well or not, people are going to protect their information. Whether it be an individual consumer or a large enterprise, they are still going to buy security. They are still going to buy products to get their business up and running."

When asked whether Symantec expects to meet its forecast for revenue of $1.55 billion to $1.59 billion for the June quarter, he said: "I'm comfortable with our pipeline, and there is nothing that is concerning me that's different from any other quarter."

Salem, citing Hewlett-Packard Co's (HPQ.N: Quote, Profile, Research) $12.8 billion pact last week to acquire Electronic Data Systems (EDS.N: Quote, Profile, Research), also said he expects the information technology (IT) industry to consolidate at a quicker pace.

"I see very few IT companies in the next five years -- less than 10 really big companies," he said.