Demand for Software Lifts Veritas’ Profit
From Reuters
Veritas Software Corp.’s first-quarter profit more than doubled on improved demand for its data storage software.
Veritas reported net income of $103 million, or 23 cents a share, compared with net income of $43 million, or 10 cents, a year earlier. Revenue surged 24% to $487 million.
The Mountain View, Calif., firm raised its second-quarter revenue and profit outlook and said it would meet its 2004 revenue forecast of $2 billion.
Shares of Veritas rose 28 cents to $27.82 on Nasdaq.
