December 6, 1996 11:10 AM ET

Verity expects profit in Q2
By Margaret Kane

  Verity Inc. expects to turn a net profit of about 2 cents per share for the second fiscal quarter.

The Sunnyvale, Calif., search engine company anticipates sales of $11.6 million and net income of $200,000 for the quarter, compared to sales of $7.2 million and a net loss of $338,000 in the year-ago period.

In a statement earlier today, Verity officials noted that sales to Cisco Systems Inc. accounted for about 33 percent of the company's revenues.

CEO Philippe Courtot said in the release that new alliances and expansion in the company's European business helped to boost profit.

The company expects to formally release its second quarter results on Dec. 17.

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