Verint Q1 Results Top Estimates; Boosts FY14 Outlook

(RTTNews) - Verint Systems Inc. (VRNT) reported net income for the fist quarter of $28.0 million or $0.51 per share, compared to a net loss of $9.3 million or $0.18 per share for the year-ago quarter.

Excluding items, adjusted net income for the first quarter was $39.5 million or $0.72 per share, compared to $23.4 million or $0.44 per share in the prior year quarter.

Total revenue for the first quarter rose to $257.39 million from $204.79 million a year ago, while total adjusted revenue for the quarter grw to $269.32 million from $205.40 million last year.

Analysts polled by Thomson REuters expected the company to earn $0.55 per share on revenue of $254.99 million for the first quarter. Analysts' estimates typically exclude special items.

For for the fiscal year ending January 31, 2015, the company now forecasts adjusted revenue of $1.11 billion to $1.16 billion and adjusted earnings of $3.30 to $3.50 per share. Previously, the company forecast adjusted revenue of $1.08 billion to $1.13 billion and adjusted earnings of $3.20 to $3.40 per share.

Analysts currently expect the company to earn $3.30 per share on revenue of $1.11 billion for the fiscal year 2014.