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Technology Stocks : Verity (VRTY)

VRTY 2.400

0.0%

Dec 22 4:00 PM EST

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To: Don McCauley who wrote (655)	3/18/1998 11:22:00 AM
From: Adam Smith	Read Replies (1) of 1011

Don Was on conf. call for short time yesterday. No replay number. Call was very upbeat. Sbona firmly in charge. He had mgt team all contribute to call. Bettencourt says sales force expanding and deals ranges from 15K to 1MM. Says new sales guys are contributing. Momenteum is getting stronger in the field. They provided no revs/exp. or operating profit guidance for the future. Only say that with sales ramp they'll need to have expense ramp. Very hard to give stock price guidance. My guess is that it will trade up to 10 and new deals or 1-2 stronger quarters have to come in before more breakout above 10. I do not think any type of merger/buyout is in the works. Several big name analysts on the call and a number of hedge funds. Most analysts were impressed with the quarter. Look for more buying to come in after analysts writeups are circulated. Good Luck Adam

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