Verity Named Fastest Growing Publicly Held Software Vendor By Fortune Small Business Magazine
Portal Infrastructure Software Company is Fifth Overall - Based on Earnings, Revenue and Stock Return
SUNNYVALE, CA - 2001-06-25 - Verity, Inc. (NASDAQ: VRTY), a leading provider of infrastructure software powering enterprise and e-commerce portals as well as e-business applications, was ranked fifth in Fortune Small Business magazine's inaugural list of the "100 Fastest Growing" publicly held small businesses in America, to be published July 2.
Fortune Small Business ranked the companies based on three criteria: earnings growth, revenue growth and total stock return, including dividends. The rankings were then averaged to find the fastest growers. Verity is the highest ranked software vendor within the list, which limits annual revenue to $200 million. Verity's revenue for its just-concluded fiscal 2001 was a company record $145 million, up 51% from 2000.
"This honor is further validation that Verity has been successfully extending its leadership position in portal infrastructure software," said Anthony Bettencourt, Verity's president. "We're the fastest growing software vendor in this Fortune Small Business survey because our customers and partners recognize and appreciate that no one knows more or does more to help companies power their business portals than Verity."
This is the second time in as many months that Verity has been acknowledged as one of the most notable up-and-coming companies in the software business. In a recent report by Delphi, a leading business advisory group, Verity was listed as the market leader in business portal infrastructure software for the year 2000.
About Verity
Headquartered in Sunnyvale, California, Verity is a leading provider of business portal infrastructure software. Verity software gives businesses a multitude of ways to improve access to vital information and perform a range of e-business operations, while enhancing the end-user experience. Verity-powered business portals, which include corporate portals used for sharing information within an enterprise; e-commerce portals for online selling; and market exchange portals for B2B activities, all provide personalized information to employees, partners, customers and suppliers.
Verity products are used by 80 percent of the Fortune 50 and by more than 1,000 corporations in various markets. Clients include Adobe Systems, American Greetings, AT&T, CDNOW, Chapters, Cisco, CNET, Compaq, Dow Jones, Edgar Online, Ernst & Young, Fairmarket, Financial Times, Globe and Mail, Home Depot, Lotus, NewsEdge Corporation, SAP, Siemens, Sybase, Time New Media and Timex. In 2001, Delphi Group named Verity as the market leader in the portal infrastructure software.
Important Note: Verity obtained the ranking described in this press release based solely on its historical financial and stock return performance. Historical financial and stock performance should not be taken as an indication of future financial or stock performance.
For more information, contact Verity at info@verity.com or at World Wide Web site http://www.verity.com or call 408-541-1500.
Verity and the Verity logo are registered trademarks or trademarks of Verity, Inc.
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