Hello,
What tapes are you using for the backup? Since when do you get this low compression? From the devices tab, go to the properties of the drive, configuration and check if you have checked the option 'enable compression' for this drive. If not, check it.
Additionally you may try installing the latest drivers for the device and check the results. It has known to improve the compression in many cases. You can download the drivers at the following link:
VERITAS Backup Exec (tm) 10.0 - Device Driver Installer (20050315) - Includes Tape Driver Release (20050115) and Robotic Library Release (45) (Intel Only)
http://support.veritas.com/docs/275676
Hope this helps. If not, do write back to the forum. In case we do note reciev your update within two business days, this post would be marked ‘assumed answered’ and would be moved to ‘answered questions’ pool.
Regards.