Close
  • Latest News
  • Artificial Intelligence
  • Video
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Logo
Subscribe
Logo
  • Latest News
  • Artificial Intelligence
  • Video
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Subscribe
    Home Latest News

      Portal Developer Verity Posts a Profit

      Written by

      Dennis Callaghan
      Published September 13, 2002
      Share
      Facebook
      Twitter
      Linkedin

        eWEEK content and product recommendations are editorially independent. We may make money when you click on links to our partners. Learn More.

        Verity Inc., a developer of portal infrastructure software, saw revenues and net profits both rise up slightly in the first quarter of its fiscal year 2003.

        For the three months ended Aug. 31, the Sunnyvale, Calif.-based company reported total revenues of $22 million, up from $20.1 million in the same period last year. Verity turned a $1.4 million profit on that revenue, after losing $2.5 million in last years fiscal first quarter.

        Software license revenues led the charge, rising from $10.3 million to $12.3 million, while service revenues held nearly steady. The company expects revenues to be between $21 million and $23 million in the fiscal second quarter, while remaining profitable.

        Verity Chairman and CEO Gary Sbona said the companys long-term prospects for growth and profitability remain strong.

        “While global economic conditions remain challenging, our goal at Verity continues to be maximizing long-term shareholder value, by developing and delivering industry leading products, by prudently managing our expenses and by constantly focusing on sales execution,” he said in a statement.

        Revenues and profits were down from the fourth quarter of the previous fiscal year, which company officials previously blamed on the economy and the slow summer season, when it lowered earnings estimates earlier this month. Verity met those lowered estimates.

        Dennis Callaghan
        Dennis Callaghan

        Get the Free Newsletter!

        Subscribe to Daily Tech Insider for top news, trends & analysis

        Get the Free Newsletter!

        Subscribe to Daily Tech Insider for top news, trends & analysis

        MOST POPULAR ARTICLES

        Artificial Intelligence

        9 Best AI 3D Generators You Need...

        Sam Rinko - June 25, 2024 0
        AI 3D Generators are powerful tools for many different industries. Discover the best AI 3D Generators, and learn which is best for your specific use case.
        Read more
        Cloud

        RingCentral Expands Its Collaboration Platform

        Zeus Kerravala - November 22, 2023 0
        RingCentral adds AI-enabled contact center and hybrid event products to its suite of collaboration services.
        Read more
        Artificial Intelligence

        8 Best AI Data Analytics Software &...

        Aminu Abdullahi - January 18, 2024 0
        Learn the top AI data analytics software to use. Compare AI data analytics solutions & features to make the best choice for your business.
        Read more
        Latest News

        Zeus Kerravala on Networking: Multicloud, 5G, and...

        James Maguire - December 16, 2022 0
        I spoke with Zeus Kerravala, industry analyst at ZK Research, about the rapid changes in enterprise networking, as tech advances and digital transformation prompt...
        Read more
        Video

        Datadog President Amit Agarwal on Trends in...

        James Maguire - November 11, 2022 0
        I spoke with Amit Agarwal, President of Datadog, about infrastructure observability, from current trends to key challenges to the future of this rapidly growing...
        Read more
        Logo

        eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

        Facebook
        Linkedin
        RSS
        Twitter
        Youtube

        Advertisers

        Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

        Advertise with Us

        Menu

        • About eWeek
        • Subscribe to our Newsletter
        • Latest News

        Our Brands

        • Privacy Policy
        • Terms
        • About
        • Contact
        • Advertise
        • Sitemap
        • California – Do Not Sell My Information

        Property of TechnologyAdvice.
        © 2024 TechnologyAdvice. All Rights Reserved

        Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.