Amdocs Ltd. (Nasdaq: DOX) CEO Eli Gelman predicts 5-8% revenue growth and 6-9% non-GAAP net profit for fiscal year 2014, after the company reported record results for its first fiscal quarter, meeting its guidance. The company also announced a number of contracts.
Revenue rose 4.6% to $864 million for the first fiscal quarter from $826.4 million for the corresponding quarter. GAAP-based net profit rose to $101.4 million ($0.63 per share) for the first fiscal quarter from $99 million for the corresponding quarter, and non-GAAP net profit rose to $122.6 million ($0.76 per share) from $119.4 million.
"We are closely monitoring the many uncertainties in the global business environment, including those resulting from announced and potential consolidation activity amongst North American operators," said Gelman. He added that the company slightly raised it growth forecast, due to the performance of recently acquired assets, including Actix, Celcite and a small IT services provider in Latin America.
Amdocs also announced a three-year application management deal with POST Telecom, Luxembourg's largest service provider. It also announced new or expanding contracts for mobile network optimization through Actix and Celcite. The contracts are with TIM Brasil, Nextel Brasil, Telus (Canada), Vodafone Germany, and Telefonica Germany.
Published by Globes [online], Israel business news - www.globes-online.com - on January 30, 2014
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