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IN BRIEF / EARNINGS

Demand for Software Lifts Veritas' Profit

April 22, 2004|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.

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