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Verint Systems sales inch up, disappoint analysts

The Verint Systems building, at 330 South Service

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

Verint Systems Inc., Long Island’s largest software maker, said Wednesday its third-quarter revenue rose modestly on sales of surveillance programs to governments and law enforcement agencies.

The Melville company, which sells data-analysis software for security systems and customer-service programs, said sales rose to $284.1 million during the three months that ended in October, up less than 1 percent from the same period last year.

“We are also pleased with our strong third quarter,” Verint chief executive Dan Bodner said in a statement accompanying the earnings report. “Going forward, we expect margins to continue to expand with earnings growing faster than revenue.”

The company reported net income of $7.6 million, or 12 cents per share.

The results fell short of the expectations of analysts, who had forecast sales of $298.9 million and earnings of 21 cents per share.

Verint also lowered its 2015 sales forecast, saying it expected revenue of between $1.15 billion and $1.19 billion. The company’s previous sales estimate was $1.18 billion to $1.23 billion.

Verint shares fell less than 1 percent Wednesday, to $46.46, and the stock is down 20 percent this year. The company released its third-quarter earnings after the close of regular trading on Wall Street. Its stock was unchanged in afterhours trading.

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