From WSJ today regards Verity
NEW YORK -- Investors anticipating healthy
fourth-quarter results drove shares of Verity Inc. up
13% Friday.
The Sunnyvale, Calif., software maker expects to post
results Tuesday for the fiscal fourth quarter ended May
31. Dain Rauscher Wessels analyst Stephen Sigmond
said he expects the company to have returned to
profitability in the quarter. Mr. Sigmond rates the stock a
"buy."
Jim Ticehurst, Verity's chief financial officer, confirmed
that the company plans to announce results after the
market closes Tuesday. Mr. Ticehurst said the company
is on target to meet its previous projections of a
break-even quarter.
Nevertheless, "investors are speculating that it will be a
good quarter," Mr. Sigmond said.
Verity posted a net loss of 11 cents a share, excluding
charges, in the fourth quarter of 1997. The company lost
5 cents a share in this year's fiscal third quarter.
Shares of Verity rose $1.3125, or 13%, to close at
$11.125 in heavy trading on the Nasdaq Stock Market
Friday. the shares hit a 52-week high of $11.50,
surpassing the previous high of $10.50 set on April 28
and equaled on June 8.
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