Feeds

Services sling Veritas to steady Q4

But profits slide

  • alert
  • submit to reddit

Top 5 reasons to deploy VMware with Tegile

Veritas today dealt a mixed bag to investors, reporting that its fourth quarter revenue increased, but that its net income fell 32 per cent.

Veritas posted $574m in sales during the period. This compares to $502m posted in the same period one year earlier. The 14 per cent revenue gain was somewhat offset by a decline in net income. Veritas reported a profit of $129m in this year's fourth quarter, which compares to $191m reported in last year's Q4. This fall off is due to a one-time tax boost of $95m built into last year's Q4.

"As a result of our outstanding fourth quarter performance, we achieved the highest revenue quarter in the company's history and exceeded our $2 billion goal for the year with revenues of $2.042 billion," said Veritas CEO Gary Bloom.

The $2.04bn in revenue for fiscal 2004 was 17 per cent higher than the $1.75bn reported in 2003. For the full year, Veritas posted net income of $411m, which compares to $347m in 2003. In its fourth quarter, Veritas' services business made large gains. It posted revenue of $243m compared to $191m last year. User license fees increased as well from $311m one year ago to $331m.

The company expects to post first quarter revenue between $525m and $540m.

Veritas is currently in the process of being acquired by Symantec, pending standard approvals. Shares were down slightly in after-hours trading at $25.11. ®

Related stories

EMC aims 'switcher' campaign at Veritas users
Symantec posts strong quarter
Veritas CEO promises Symantec buy will be kind and gentle
Veritas retools its Backup Exec baby

Intelligent flash storage arrays

Whitepapers

Seattle children’s accelerates Citrix login times by 500% with cross-tier insight
Seattle Children’s is a leading research hospital with a large and growing Citrix XenDesktop deployment. See how they used ExtraHop to accelerate launch times.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.