NICE Systems raises guidance after strong Q2 results

Barak Eilam photo: CRC Media
Barak Eilam photo: CRC Media

Revenue was up 9.1% and net profit 23%, and the company declared a dividend.

Israeli data security provider

NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) finished the second quarter with a 9.1% increase in non-GAAP revenue to $235.4 million and a $47.9 million non-GAAP net profit, compared with $39.5 million in the second quarter of 2015. Fully diluted non-GAAP net profit per share reached $0.79, 23% more than in the corresponding quarter last year.

The company announced that its non-GAAP revenue forecast of $1 billion for all of 2016 had been confirmed. Its fully diluted non-GAAP profit per share forecast for the year is up to $3.48-3.58. NICE Systems also announced a $0.16 per share dividend for the second quarter of the year.

"We are glad to again report a strong performance in the second quarter of 2016," said NICE Systems CEO Barak Eilam. "We reported $235 million in non-GAAP revenue, 9% more than in the corresponding quarter last year. Excluding the effect of currency exchange rates, on non-GAAP revenue, the increase would have been over 10%. Revenue growth, together with operational excellence, brought substantial 23% growth in non-GAAP profit per share, compared with the corresponding quarter last year.

"We are seeing a significant acceleration in analytics and cloud computing solutions. Our analytics solutions continue to be a growth engine, with an increasing number of our customers, both old and new, quickly adopting analytics for a large quantity of usage cases. In addition, since the announcement of the acquisition of cloud computing and customer service market leader InContact, we have received very positive feedback from customers and business partners. We are seeing rapid growth in the number of customer service enterprises adopting cloud computing solutions, and the combination of NICE Systems and InContact makes us the market leader."

NICE Systems provides software solutions for management of customer relations and risks for business customers.

Published by Globes [online], Israel business news - www.globes-online.com - on July 28, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

Barak Eilam photo: CRC Media
Barak Eilam photo: CRC Media
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