Verity reports Q2 '99 financial results

Verity (Nasdaq: VRTY) reports Q2 '99 revenue of $15.2 million, up 15% over Q2 '98, and a net income of $2.4 million, nearly double that of the previous quarter. Sales of Verity's search & retrieval software are up 72% from the same period a year ago. Much of the growth comes from Verity's search technology being embedded within intranet portals, according to company president and CEO Gary Sbona.

During the quarter Verity signed integration and distribution agreements with IntraNet Solutions, Cincom, Primus and Broadvision. New customers include Restrac, a network recruiting solutions provider, and MD Consult, an online medical information service.