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Verint shares retreat after disappointing earnings report

Shares of Verint Systems Inc. lost ground in after-hours trading Tuesday after the Melville company posted declines in first quarter revenue and net income.

Verint stock traded down 3.7 percent to $33.75 after the market close, following a 2.6 percent advance to $35.04 in the regular session.

The maker of software that sifts through data, audio and video streams to measure call center productivity and find security threats reported revenue of $245.4 million for the quarter ended April 30. That was a year-over-year decline of 8.9 percent compared to the $269.5 million posted in the 2015 period.

Net income swung from a gain of $731,000 in the year-ago quarter to a loss of $16.2 million in the most recent period.

The 22-year-old company forecast revenue for the current fiscal year to be roughly flat as a decline in security intelligence revenue from government clients offsets gains from call centers and other corporate uses.

CEO and president Dan Bodner said in a statement that growth in the corporate business will be robust, driven by software “on-premises, in the cloud and in hybrid deployment models.”

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