Veritas Software

(VRTS) - Get Report

shares plunged 14% after the company reported second-quarter earnings that seemingly beat expectations.

Excluding costs linked to its acquisition of disk drive maker

Seagate

, Veritas recorded second-quarter pro forma net income of $57 million, or 13 cents a share, compared with $29 million, or 7 cents a share, a year ago. Analysts surveyed by

First Call/Thomson Financial

forecast earnings of 12 cents a share.

Revenue jumped 77% for the quarter, to $275 million from $156 million a year earlier.

As-reported results, including $253 million in amoritization costs for Veritas' purchase of Seagate, reflected a loss of $172 million, or 43 cents a share, compared with a loss of $162 million, or 59 cents a share, a year earlier.

Veritas shares slipped 17 9/16 to 110 after hours. During regular trading, they slipped 8 13/16 to close at 127 9/16.