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News > Technology
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Veritas edges estimates
graphic October 16, 2001: 4:47 p.m. ET

Software storage company beats third-quarter estimates by a penny per share.
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  • Veritas meets 2Q, warns - July 17, 2001
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    NEW YORK (CNNmoney) - Storage software company Veritas Software Corp. beat analysts third-quarter consensus earnings estimates by a penny per share Tuesday, matching forecasts for quarterly revenue.

    Veritas (VRTS: Research, Estimates) reported net income excluding certain one-time items of $51 million, or 12 cents per share, compared with $70 million, or 16 cents per share, in the year-ago period.

    The company said revenue was $340 million, up 7 percent from the same quarter a year ago.

    Veritas President and CEO Gary Bloom noted in a statement that the Mountain View, Calif.-based company was "able to produce quarterly revenue growth compared to last year's third quarter and demonstrated solid expense management in spite of the weak economic environment, the immediate revenue impact of the Sept. 11th attacks, and our focus on serving our existing customers during this critical times."

    The stock rose $1.77 to $31.20 in after-hours trading. graphic

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    Veritas meets 2Q, warns - July 17, 2001




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