beat Wall Street's third-quarter earnings estimate, posting a profit of $2.3 million, or 6 cents a share, down from $9.2 million, or 25 cents a share, in the year-ago quarter. Analysts polled by Thomson Financial/First Call had been expecting a profit of 2 cents a share.
Revenue for the quarter came in at $25 million, down from $38 million last year, but ahead of the consensus First Call estimate of $23.3 million.
The software company offered little guidance for future quarters, saying only that it expects "modest quarterly sequential revenue and earnings grown in the fourth quarter," but shares leapt ahead in premarket trading. Recently, Verity was trading up 8.4% to $16.65 on Instinet after closing down 85 cents to $15.36 Wednesday.