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Cybersecurity worries help boost sales for Verint Systems

The Verint Systems building at 330 South Service

The Verint Systems building at 330 South Service Rd. in Melville, seen on Jan. 6, 2014. Credit: Steve Pfost

Verint Systems Inc., a provider of software and services for corporate call centers and government intelligence agencies, Wednesday posted a 6.3 percent increase in first quarter revenue to $261 million as worries about cybersecurity helped boost sales.

Despite the revenue gain, increased costs tilted the Melville company to a wider net loss of $19 million, or 32 cents per diluted share, versus a net loss of $16.2 million, or 28 cents per share, in the year-earlier period.

“We believe our investments in innovations — including business automation and enterprise intelligence — enable us to win new customers,” Dan Bodner, Verint chief executive and president, said in a statement.

Revenue from Verint’s cybersecurity business was $91 million, an increase of 19 percent that Bodner said was attributable to global efforts to counter terrorism and cyberattacks.

Revenue for the company’s larger call center unit edged up to $170 million from $168.9 million in the year-ago period.

Verint shares lost 1.3 percent to $42.10 Wednesday on the Nasdaq Stock Market, but recovered in after-hours trading following the earnings report. In after hours trading, Verint gained 2.5 percent to $43.15. In the trailing 12 months, Verint shares have climbed 25.3 percent.

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