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Verint Systems posts $8 million profit as sales rise

Verint Systems Inc. returned to profitability in the November-January period on higher sales of its computer software, which is used by business call centers and government intelligence agencies, executives said Tuesday.

The Melville-based company reported a profit of $8 million for the three months ended Jan. 31. It posted losses for most of the fiscal year, as it made less money on product sales.

A year ago, Verint reported a profit of $17.5 million for the November-January period.

The company also reported Tuesday that its revenue totaled $296 million in the November-January period, up 5 percent from a year earlier.

Verint CEO Dan Bodner said the quarter ended Jan. 31 is typically the company’s strongest. “We continue to expand our portfolio” of products used by call centers, he said Tuesday in a call with analysts.

Bodner also said Verint is seeing greater demand for its software among government intelligence agencies. The software sifts through data, audio and video streams to detect threats.

He said there is “a better global spending environment and increasing demand for our cyber intelligence solutions.”

For the full year, Verint reported a loss of $29.4 million compared with a profit of $17.6 million for the 12 months ended January 2016. Revenue totalled $1 billion, down 6 percent from 2016.

The earnings announcement came after the stock market close. In after-hours trading on the Nasdaq market, Verint shares were up $2.95, or 7.5 percent, to $42.50. They had closed down 45 cents, or more than 1 percent, to $39.55 per share in regular trading.


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