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To: 2MAR$ who wrote (328)	10/14/2000 9:37:49 PM
From: 2MAR$	Read Replies (1) \| Respond to of 762

Veritas shares soar on earnings, new estimates PALO ALTO, Calif., Oct 13 (Reuters) - Shares of storage management software company Veritas Software Corp (NasdaqNM:VRTS - news) rose sharply on Friday, following the report Thursday of third-quarter results that beat expectations. Veritas shares were up more than $14 a share to 135-3/4 around midday. ``They are far and away the dominant player in a very dynamic marketplace,'' said David Breiner, a senior analyst at Prudential Securities in Menlo Park, Calif., who has assigned a strong buy to the company's stock. Lehman Bros. analyst Neil Herman on Friday reiterated a strong buy on Veritas and increased his per-share estimates to 58 cents from 53 cents for 2000. On Thursday, the company reported third-quarter pro forma earnings of 16 cents a share, beating the consensus estimate as well as Lehman's estimate by 2 cents. Mountain View, Calif.-based Veritas on Thursday said revenues rose 73 percent to $317.2 million from $183.4 million in the year-ago quarter on strength in its international and existing businesses. Pro forma net income was $70.3 million, compared with $38.9 million per share in the year-ago period. After including accounting adjustments, Veritas posted a net loss of $148.1 million or 37 cents a share, compared with a net loss of $183.6 million or 48 cents during the third quarter of 1999. The company's storage management products expedite data recovery and protect computer networks from crashes and errors. Veritas also makes data back-up and network management software.