Verint posts 22 percent revenue jump; boosts outlook
The headquarters of Verint Systems Inc., South Service Road in Melville on Jan. 6, 2014. Credit: Steve Pfost
Software vendor Verint Systems Inc. Wednesday posted a 21.9 percent revenue increase for the fourth quarter and increased its financial forecast for the fiscal year ending Jan. 31, 2016.
While revenue climbed to $311.7 million, diluted earnings per share fell to 7 cents on net income of $6.5 million. That compared to diluted earnings per share of 42 cents on net income of $22.9 million in the year ago quarter. The decrease in earnings was attributable in part to income tax adjustments.
The Melville company, whose software is used by government agencies and customer call centers to monitor telecommunications, raised its revenue forecast to a range of $1.2 billion to $1.25 billion for the fiscal year ending Jan. 31, 2016. Diluted earnings per share are expected to be $3.55 to $3.75.
"We're targeting another year of double-digit revenue growth," CEO Dan Bodner said in a conference call after the market closed.
Bodner also announced that the company was entering the corporate market for cybersecurity software later in the year.
Shares of Verint fell more than 1 percent to close at $58.62 Wednesday and showed continued weakness in after-hours trading.
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.
