Market Gems-Trading Strong Earnings Growth and Momentum Message Board

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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum

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To: jjetstream who wrote (5868)	3/5/2001 5:47:26 PM
From: puborectalis	Read Replies (2) of 6445

Veritas says first-quarter forecast intact PALO ALTO, Calif., March 5 (Reuters) - Senior executives at Veritas Software Corp. (NasdaqNM:VRTS - news) on Monday reiterated earlier guidance and said they remain comfortable with analysts' current estimates as the company's sales remain strong. Shares of the Mountain View, Calif.-based maker of data management software rebounded to $61.719 in extended trade on the Island system. The stock finished $3-51/64 lower at $59-53/64 as investors worried over the outcome of the scheduled, mid-quarter update. ``We're very confident in our ability to meet our expectations,'' Veritas Chief Executive Gary Bloom said, referring to the company's earlier forecast for first-quarter revenue growth of about 4 percent from the prior quarter. Company executives also have said they expect 2001 sales to grow between 45 percent to 50 percent. Financial analysts, on average, expect Veritas to post first-quarter earnings of 20 cents per share on revenue of $383.4 million, according to First Call/Thomson Financial.

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