Verint Systems Profit Tops Street, Outlook Strong; Stock Up 4%

(RTTNews) - Verint Systems Inc (VRNT) Monday reported fourth-quarter net earnings of $22.9 million or $0.42 per share compared with $21.9 million or $0.50 per share last year.

Earnings per share results for the recent quarter reflect a higher share count, the company said.

Excluding items, adjusted earnings for the quarter were $49.4 million or $0.91 per share.

On average, eight analysts polled by Thomson Reuters estimated earnings of $0.84 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter were $255.7 million compared with $229 million in the prior year. On an adjusted basis, revenues were $257 million compared with $230 million.

Analysts projected revenues of $254 million for the quarter.

Looking ahead to the first quarter, Vering expects revenues of $250 million to $260 million, reflecting a full quarter of KANA Software, whose acquisition closed in February. Analysts expect revenues of $242 million.

For the full year, Verint projects earnings of $3.20 to $3.40 per share on revenues of $1.08 billion to $1.13 billion. Analysts expect earnings of $3.16 per share on revenues of $1.10 billion.

In Jan, Verint agreed to acquire KANA Software, a leader in customer service solutions delivered on-premises and in the cloud, for about $514 million.

The deal will extend Verint's Actionable Intelligence strategy. The company said the collective solutions from Verint and KANA would enable organizations globally to implement a single-vendor suite to help transform customer engagement.

Verint stock closed Monday at $46.93, up $1.38 or 3.03%, on a volume of 442k shares on the Nasdaq. In after hours, the stock gained $2.05 or 4.37% at $48.98.