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Technology Stocks : Veritas (VRTS)

VRTS 160.08

-1.6%

3:59 PM EST

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From: Jack Hartmann	1/16/2003 5:28:24 PM
	of 742

Paul Kedrosky on Veritas cuts 1/16/03 01:41 PM ET Channel contacts reporting sales personnel cuts at VRTS, supposedly at least a couple of people in every region. Was partly to do with cleaning house after letting people sell scared at the end of Q4 ("perform, or else"), and partly that the average order size is shrinking rapidly, so distribution is becoming an alternative to direct. From realmoney.com Jack In the long-run clearing out the underbrush will be good for VRTS, but right now it is suggestive of continuing weakness in its core markets.

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