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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: DiB who wrote (55078)	9/12/2002 4:27:14 PM
From: stockman_scott	Respond to of 65232

Verity Q1 profit in line with lowered estimates Thursday September 12, 4:20 pm ET SUNNYVALE, Calif., Sept. 12 (Reuters) - Software maker Verity Inc. (NasdaqNM:VRTY - News) on Thursday posted a first-quarter net profit that was in line with its lowered expectations as the weak economy and slow customer spending in the summer months hurt sales. Verity said it posted a net income of $1.4 million, or 4 cents a share, for its fiscal quarter ended Aug. 31, compared with a net loss of $2.5 million, or 7 cents a share, a year ago. Verity -- which makes software that provides business workers with a single view of all the software programs they need in a Web page style format -- said its revenue rose slightly, to $22 million from $20.1 million a year ago. Analysts had expected the company to earn 6 cents a share, but after the company warned of weak sales earlier this month the analysts lowered their profit forecast to 3 cents a share, according to market research firm Thomson First Call.