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Veritas beats Street
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April 19, 2000: 6:13 p.m. ET
Software company's first quarter EPS a penny better than expected
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NEW YORK (CNNfn) - Veritas Software reported a better-than-expected first quarter profit Wednesday, reflecting strong demand for its storage software products.
The Mountain View, Calif.-based company earned a profit of 12 cents a share before one-time items, beating the First Call consensus estimate of 11 cents a share. Net income, excluding amortization expenses, rose 6 percent to $51.6 million from $27.7 million.
Including the amortization costs, Veritas posted a loss of $174.4 million or 44 cents per share, in the three months ended in March, versus a profit of $13.6 million or 6 cents per diluted share a year ago.
Ahead of the earnings news, Veritas shares fell 1/8 to 105-3/16. 
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Veritas
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