Veritas reports shortfall in revenue

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Veritas reports shortfall in revenue

Storage software maker Veritas Software warned of lower-than-expected revenue in its second quarter, a shortfall it blamed on sluggish software licence sales in the US.

Veritas now expects total revenue for the quarter between $475m (£256m) and $485m, down from the $490m to $505m it forecast in June.

Veritas chief executive officer Gary Bloom said that the later part of each quarter's third month is traditionally a strong period for Veritas' software sales; this time, expected deals in the US did not come through.

Demand in Europe and Asia-Pacific met expectations, as did Veritas' services business, which brought in $212m during the quarter, Bloom said.

Veritas will announce full results on 27 July for the quarter ended 30 June, the second of its financial year.

Integration specialist WebMethods and database maker Sybase also saw its shares tumble following warnings of weak sales.

Sybase blamed its miss on "direct sales operations issues" in its North American enterprise business, while WebMethods cited a lower-than-expected closer rate on multimillion-dollar deals.

Stacy Cowley writes for IDG News Service


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