Veritas Expects to Meet Quarterly, 2001 Sales Forecasts

Veritas Software Corp., a maker of software for managing data storage, said it expects to meet its sales forecasts for the first quarter and 2001, even amid an economic slowdown. Veritas executives repeated forecasts made in January that called for first-quarter sales to rise 4% from the fourth quarter to $385 million. The company’s prediction also called for 2001 revenue to increase 45% to 50% to $1.75 billion to $1.81 billion. Many computer-related companies have warned that sales are slowing as customers cut back spending amid an economic downturn. Veritas is holding steady by introducing products for additional computer systems and expanding abroad, Chief Executive Gary Bloom said. The company’s announcement sent its shares as high as $62.73 in after-hours trading. The shares had closed at $59.81, off $3.81.