Cybersecurity worries help boost sales for Verint Systems

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.

By Ken Schachter

kenneth.schachter@newsday.comkschach

Ken Schachter covers corporate news, including technology and aerospace, and other business topics for Newsday. He has also worked at The Miami Herald and The Jerusalem Post.