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Veritas, RSA top 3Q estimate

2 min read

Veritas Software (Nasdaq: VRTS) said Thursday third quarter revenue was $317.2 million, up 73 percent over last year's third quarter. The company also topped First Call's estimated profit of 14 cents a share by two pennies.

Shares fell 16.31 to 121.75 Thursday afternoon prior to the earnings release. The software company also topped estimates in its second quarter.

Net income excluding amortization, increased to $70.3 million in the third quarter, from $38.9 million for the same period in the prior year, an 81 percent increase. Pro forma earnings per share for the third quarter was 16 cents a share, up from 9 cents a share for the same period last year.

Including $235.3 million of amortization, Veritas lost $148.1 million, or 37 cents a share, compared with a net loss of $183.6 million, or 48 cents a share for the prior year.

Demand for its data availability product lines drove growth, the comapny said. Veritas said it is now on track to post annual revenue of more than $1.2 billion.

Other tech companies reporting quarterly results:

  • RSA Security (Nasdaq: RSAS)
    • reported third-quarter earnings that beat Wall Street estimates, driven by a 29 percent rise in revenue.

    Bedford, Mass.-based RSA said it earned $10.2 million, or 24 cents per diluted share, in the third quarter from its core operations, compared with $7.4 million, or 18 cents a diluted share, in the same quarter in the previous year.

    Revenues rose to $72 million from $55.7 million.

    About two weeks ago, RSA said it expected third-quarter earnings from its core operating business to be about 24 cents per share -- above the analyst consensus of 23 cents a share. The rise did not change the consensus of analyst expectations as reported by research firm First Call/Thomson Financial, which also said the revenue consensus was $68 million.