Business information systems company Amdocs Ltd. (NYSE: DOX) has reported its second fiscal quarter results ending March 31, 2016. Revenue was $925.9 million, up 0.5% or $4.4 million from the preceding quarter, and up 2.6% from the corresponding quarter of 2015.
Non-GAAP net profit was $140.2 million, ($0.92 per share), up from $128.6 million ($0.82 per share) in the corresponding quarter of 2015, and above the analysts' consensus of $0.87 per share). GAAP net profit for the second quarter of fiscal 2016 was $107.7 million ($0.71 per share) compared with GAAP net profit of $116.3 million ($0.74 per share), in the corresponding quarter of 2015.
Amdocs share prices rose 0.42% on Nasdaq yesterday to $57, giving a market cap of $8.57 billion. The company's share price is up 5% in 2016.
Amdocs president and CEO Eli Gelman said, “We are pleased to report solid results for the second fiscal quarter, which included revenue at the midpoint of our guidance on a constant currency basis, encouraging signs of stabilization in North America, and sustained growth in Europe. During the quarter, we launched Amdocs CES 10, a major new product stack release specifically designed to accelerate service providers’ transition from traditional to digital business models. At the same time, we delivered non-GAAP operating margins at the high-end of our long-term target range of 16.2% to 17.2%. This performance is in line with our guidance from the start of the fiscal year and reflects our focus on maintaining consistent execution as we deploy a record number of transformation projects worldwide."
Published by Globes [online], Israel business news - www.globes-online.com - on May 5, 2016
© Copyright of Globes Publisher Itonut (1983) Ltd. 2016