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Technology Stocks : Seagate Technology -- Ignore unavailable to you. Want to Upgrade?

To: Robert Douglas who wrote (6760)	1/28/1999 1:54:00 PM
From: William Epstein	Respond to of 7841

Robert Douglas; Kids are expensive, aren't they? Mine is 28. Wait till he gets older. PHOTOMAN

To: Robert Douglas who wrote (6760)	1/28/1999 7:53:00 PM
From: Sam	Read Replies (1) \| Respond to of 7841

Robert and all, VRTS Reports Record 4Q, EPS Grows 100%, stock has tripled since the steep fall after the SEG acquisition was announced (from about $26/share then to about $79 today, which means SEG's stake is worth around $10/share): biz.yahoo.com For the fourth quarter, the company achieved record revenue of $67.1 million, an increase of 88% over last year's fourth quarter revenue of $35.8 million. License revenue increased 89% while net income for the period rose to $21.5 million, from $12.3 million for the same period in fiscal year 1997. Most importantly, diluted earnings per share for the quarter, on a fully taxed basis, doubled to $0.24 from $0.12 (excluding a one-time credit) for the same period last year. During 1998, VERITAS achieved year-over-year revenue growth of 74%. ''The state of the company has never been stronger,'' said Mark Leslie, VERITAS' president and chief executive officer. ''Increasing growth in end user sales worldwide coupled with the expanding breadth and depth of our OEM sales channel puts VERITAS in a position to take full advantage of the opportunities in this rapidly expanding storage management market.'' ''1998 was a defining year for VERITAS,'' commented Leslie. ''We articulated two important initiatives early in the year for Storage Area Networking and penetration of the NT market. In the SAN arena we took a leadership position in the industry, and announced and delivered innovative products in the areas of backup, high availability and clustering." ''In the NT space, we experienced excellent success with our NT NetBackup product, in addition to closing strategic NT-based OEM agreements with Compaq and Dell, and securing several large, end-user deals in NT environments.'' ''Most notably, the announced acquisition of the NSMG division of Seagate Software forms the largest storage software company in the industry and will deliver an unprecedented range of products supporting the two key industry platforms of UNIX and Windows NT. We believe VERITAS has emerged as the undisputed leader in the storage management software sector,'' continued Leslie.