NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) reported revenue and profit growth for the third quarter of 2012, and expects further growth in the fourth quarter. "As we enter the final quarter of the year, we see strong demand for our solutions and expect it to be a strong quarter in bookings and revenues," said NICE president and CEO Zeevi Bregman.
Non-GAAP revenue rose 10.2% to $220.9 million for the third quarter from $200.4 million for the corresponding quarter, and GAAP-based revenue rose 9.7% to $218.9 million from $199.5 million.
GAAP-based net profit fell to $16.8 million ($0.27 per share) for the third quarter from $18.3 million for the corresponding quarter, but non-GAAP net profit rose to $39.7 million ($0.64 per share) from $34.5 million. The analysts' earnings per share consensus was $0.57.
Cash flow from operations totaled $11.6 million in the third quarter, and NICE bought back $28 million worth of shares during the quarter, resulting in cash and cash equivalents of a $422 million, with no debt, at the end of September.
NICE's fourth quarter and full-year guidance are in line with analysts' forecasts. The company expects earnings per share of $0.64-0.69 on $237-257 million revenue. For 2012 as a whole, it reiterated its guidance of earnings per share of $2.41-2.46 on $890-910 million. The analysts' consensus is $2.34 earnings per share on $898.7 million.
Published by Globes [online], Israel business news - www.globes-online.com - on October 31, 2012
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