Verint Systems Rises on Earnings Beat
Verint Systems released mixed fiscal first-quarter earnings report after the markets closed on Tuesday.
Verint Systems Inc. (NASDAQ: VRNT) released its fiscal first-quarter earnings report after the markets closed on Tuesday. The company said it had $0.46 in earnings per share (EPS) on $245.4 million in revenue, down from the EPS of $0.66 and $269.54 million in revenue reported in the same period of the previous year. Consensus estimates for the most recent quarter were $0.41 in EPS and revenue of $250.5 million.
In terms of the outlook for the 2017 fiscal year, the company expects to have similar revenue to fiscal 2016, plus or minus about 2%, EPS is expected to be similar as well.
A few components made up this forecast for Verint: Enterprise Intelligence segment is expecting mid-to-high single-digit revenue growth and the Security Intelligence segments are expecting a decline in revenue between 10% and 15%.
The consensus estimates call for $3.04 in EPS on $1.13 billion in revenue for the full year.
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On the books, Verint cash and cash equivalents totaled $323.9 million at the end of the quarter, compared to $352.1 million at the end of the previous fiscal year.
Dan Bodner, CEO and president of Verint, commented:
We are pleased to report that in Q1 we delivered non-GAAP revenue of $249 million, or $251 million on a constant currency basis, and $0.46 of non-GAAP diluted EPS. In Enterprise Intelligence, revenue increased 6.5% year-over-year on a constant currency basis and we expect a year of growth driven by our broad portfolio of Customer Engagement Optimization solutions, all available now on-premises, in the cloud and in hybrid deployment models.
Shares of Verint were trading up 3.3% at $36.18 on Wednesday, with a consensus analyst price target of $39.17 and a 52-week trading range of $29.76 to $64.24.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
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