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July 19, 1998

VERITAS Q2 REVENUES UP 66%

By CBR Staff Writer

Switch, hub, disk and high-end system vendors are piling into the SAN storage area network market so it should come as little surprise that the software community is gearing up to support their efforts. On the back of a rosy second quarter Veritas Software Inc says it has a slew storage management software and partnerships in the wings to address the nascent SAN market. The Mountain View, California-based company, has reported second- quarter net income of $8.5m, on revenue up 66% at $48m, compared to a net loss of $1.7m for the same quarter last year. Six-month net income rose to $17.6m from $3.7m for the previous six months on revenues up 60% at $87.2m. It’s trumpeting growth in the Unix market – including its reseller relationship with Sun Microsystems Inc – as a significant factor. Just as well really given it’s going to be waiting a while for a revenue stream from Redmond; its software is to be bundled with Windows NT 5.0, whenever that arrives. Veritas says financial and telcoms customers are the biggest spenders and that its OEM and reseller revenue is bigger than direct sales.

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