Feeds

Veritas fattens revenue in Q3

Software strength

  • alert
  • submit to reddit

Securing Web Applications Made Simple and Scalable

Software maker Veritas enjoyed a strong third quarter, riding license and services sales en route to record revenue.

Veritas reported $451 million in revenue for the period ended Sept. 30. This marks a 23 percent increase over the $366 million posted in the same quarter a year ago.

"Leveraging the revenue upside, we delivered earnings well ahead of expectations and generated approximately $130 million in cash from operating activities, exiting the quarter with $2.3 billion in cash and short-term investments," said Ed Gillis, CFO at Veritas.

The company reported net income of $77.6 million in the third quarter versus $36.2 million in last year's Q3.

Veritas tends to be very conservative about breaking out its various product segments. This policy makes it difficult to tell how well new businesses such as clustering and server management are performing in comparison to its flagship backup and file system software businesses.

It did report that user licenses fees surged in the quarter. Veritas posted $290 million in license fee revenue compared to $241 million last year. Services also rose to $161 million versus $125 million last year.

In the fourth quarter, Veritas expects revenue between $480 to $490 million. ®

The Essential Guide to IT Transformation

More from The Register

next story
Manic malware Mayhem spreads through Linux, FreeBSD web servers
And how Google could cripple infection rate in a second
EU's top data cops to meet Google, Microsoft et al over 'right to be forgotten'
Plan to hammer out 'coherent' guidelines. Good luck chaps!
US judge: YES, cops or feds so can slurp an ENTIRE Gmail account
Crooks don't have folders labelled 'drug records', opines NY beak
FLAPE – the next BIG THING in storage
Find cold data with flash, transmit it from tape
Seagate chances ARM with NAS boxes for the SOHO crowd
There's an Atom-powered offering, too
Gartner: To the right, to the right – biz sync firms who've won in a box to the right...
Magic quadrant: Top marks for, er, completeness of vision, EMC
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Mobile application security vulnerability report
The alarming realities regarding the sheer number of applications vulnerable to attack, and the most common and easily addressable vulnerability errors.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.