Comverse Technology Inc. (Pink Sheets: CMVT) subsidiary Verint Systems Inc. (Nasdaq: VRNT) beats analysts' revenue and earnings per share estimates for the fourth quarter and full-year of fiscal year 2010, which ended in January 2011. Revenue rose to $726.8 million in 2010 from $703.6 million in 2009, beating the analysts' consensus of $720.2 million.
GAAP-based net profit rose to $28.6 million ($0.31 per share) in fiscal 2010 from $17.1 million in 2009, as non-GAAP net profit attributable to Verint common shares fell to $118.3 million ($2.79 per share) in 2010 from $119.3 million in 2009. The company beat the analysts' earning per consensus of $2.69 by $0.10.
Verint's fourth quarter revenue rose to $186.9 million for the fourth quarter from $172.7 million for the corresponding quarter of 2009, beating the analysts' consensus of $180.3 million. Non-GAAP net profit attributable to common shares rose to $28.9 million ($0.66 per share) for the fourth quarter from $16.9 million for the corresponding quarter. The company beat the analysts' earning per share consensus of $0.52 by $0.14.
In its guidance, Verint predicts 7-8% revenue growth in fiscal year 2011. As for the first fiscal quarter, which ends in January, the company said that, due to some seasonal trends in the enterprise software industry, it expects a potentially sharp drop in revenue compared with the preceding quarter.
Verint president and CEO Dan Bodner said, "We finished the year strong and are pleased with our fourth quarter results, which we believe reflect our leadership position in actionable intelligence. We believe that we are well positioned for continued success and growth in the workforce optimization and security intelligence markets."
Verint's share closed at $36.61 yesterday, giving a market cap of $1.35 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on April 6, 2011
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