Verint Systems sales inch up, disappoint analysts

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.