Software Company's Percentage Gain in Net Income Ranks 10th Best Overall
SUNNYVALE, Calif - 2003-04-21 - Verity Inc. (NASDAQ: VRTY), a leading provider of enterprise software that helps organizations maximize the return on their intellectual capital investment, ranked tenth best among the "Silicon Valley 150" in terms of year-over-year percentage gains in net income for the four most recent quarters ending on or before December 31, 2002, according to a just-published report in the San Jose Mercury News.
Considered by many as the newspaper of record for the northern California technology business region, the San Jose Mercury News conducts an annual review of the worldwide revenue and profit performance of the top public companies headquartered in Santa Clara, Santa Cruz, southern San Mateo and southern Alameda counties. The 150 largest of these companies, in terms of revenue performance, comprise "The Silicon Valley 150." Along with its top 10 ranking in terms of percentage gains in net income, Verity has been listed as one of the Valley's top 150 companies in this San Jose Mercury News' review for the second consecutive year.
"The heightened pressure of the current economic climate makes Verity's percentage growth of net income year over year even more significant," said Anthony J. Bettencourt, Verity's president and CEO. "Verity's prudent business practice has led the company to achieve four consecutive years of profitability and positive cash flow from operations. The company remains committed to operating a profitable business, enhancing shareholder value and continuing to expand upon its market leadership position with its industry leading products and technical vision."
The 2002 "Silicon Valley 150" list was published in the April 14, 2003, issue of the San Jose Mercury News.
About Verity
Headquartered in Sunnyvale, Calif., Verity provides software solutions that help organizations maximize the return on their intellectual capital investment by utilizing Verity's industry-leading enterprise search, classification and personalization technologies. Verity software is used for sharing information within and between enterprises; for facilitating e-commerce sales; and for B2B activities on Web-based market exchanges. In addition, Verity technology serves as a core component of many leading e-business applications.
Verity products are used by more than 3,500 organizations in the private and public sectors. Customers include Adobe Systems, AT&T, Bristol-Myers Squibb, Cisco, Cap Gemini Ernst & Young, Documentum, Dow Jones, EDGAR Online, Financial Times, H-P, Home Depot, Lotus, META Group, SAP, Siemens, Stellent, Sybase, Time New Media and Timex.
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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