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Veritas Software beats estimates

The storage specialist easily tops analysts' estimates in its fourth quarter, raking in $83.9 million, or 19 cents a share.

Storage specialist Veritas Software easily topped analysts' estimates in its fourth quarter Wednesday, raking in $83.9 million, or 19 cents a share, on sales of $370.1 million.

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How Veritas dodged the tech slowdown
Gary Bloom, CEO, Veritas
Analysts polled by First Call expected the data storage software developer to earn 17 cents a share on sales of $344.8 million.

Veritas shares closed regular trading off 94 cents to $104.06 ahead of the earnings report.

The $370.1 million in sales represents a 64 percent improvement from the year-ago quarter, when it earned $50.7 million, or 12 cents a share, on sales of $226.2 million.

For the fiscal year, it earned $263 million, or 60 cents a share, on sales of $1.2 billion, up 72 percent from fiscal 1999, when it raked in $70.3 million, or 16 cents a share, on sales of $317.2 million.