Veritas Again Trims Year’s Sales Forecast

Veritas Software Corp., a maker of computer programs for data storage, cut its sales forecast for the year, the second time since April, blaming the slow economy.

The news sent Veritas shares down 14% to $43.47 in heavy after-hours trading. The shares had closed up $3.26 at $50.42 on Nasdaq before the announcement.

Chief Executive Gary Bloom said he expects sales to grow 25% to 35% this year, below a previous forecast of 35% to 50%. Last year, Veritas said sales grew 72% to $1.2 billion.

Mountain View, Calif.-based Veritas also said its second-quarter loss narrowed to $128.9 million, or 43 cents a share, from $172.3 million, or 43 cents, a year ago, as revenue rose 42% to $390.2 million.