This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Comverse Technology Announces Fiscal 2012 Second Quarter Results; Conference Call To Discuss Selected Financial Information To Be Held Today At 8:30 AM

Stocks in this article: CMVT

NEW YORK, Sept. 7, 2012 (GLOBE NEWSWIRE) -- Comverse Technology, Inc. ("CTI") (Nasdaq:CMVT) today announced its results for the three months ended July 31, 2012.

Consolidated Highlights: Below is selected consolidated financial information for the three and six months ended July 31, 2012 and 2011 prepared in accordance with generally accepted accounting principles ("GAAP") and, where indicated, not in accordance with GAAP ("non-GAAP").

  Three months ended July 31, Six months ended July 31,
(In thousands, except per share data) 2012 2011 2012 2011
Revenue  $ 383,652  $ 377,014 $718,037  $ 717,110
GAAP net loss attributable to Comverse Technology, Inc. $ (274) $ (39,697) $ (53,484) $ (98,892)
GAAP loss per share attributable to Comverse Technology, Inc.'s shareholders:        
Basic and Diluted  $ (0.00) $ (0.19) $ (0.24) $ (0.48)
Non-GAAP net income (loss) attributable to Comverse Technology, Inc. - basic (1)   $ 24,184  $ 21,042  (8,274)  $ 14,011
Non-GAAP net earnings (loss) per share attributable to Comverse Technology, Inc.'s shareholders - basic and diluted  $ 0.11  $ 0.10 $ (0.04)  $ 0.07
(1) "Non-GAAP net income (loss) attributable to Comverse Technology, Inc." and "Non-GAAP earnings (loss) per share attributable to Comverse Technology, Inc.'s shareholders" have not been prepared in accordance with GAAP. See "Presentation of Non-GAAP Financial Measures" and "Consolidated Reconciliation of GAAP to Non-GAAP Financial Measures" below.

CTI is a holding company that conducts business through its subsidiaries, principally, its wholly-owned subsidiary, Comverse, Inc. ("Comverse"), and its majority-owned subsidiaries, Verint Systems Inc. ("Verint") and Starhome B.V. ("Starhome"). As previously disclosed, CTI intends to distribute 100% of the outstanding common shares of Comverse to CTI shareholders on a pro rata basis. In addition, on August 1, 2012, CTI entered into an agreement (the "Share Purchase Agreement") to sell its interest in Starhome B.V. ("Starhome") to unaffiliated purchasers and on August 12, 2012, entered into an agreement and plan of merger (the "Verint Merger Agreement") with Verint pursuant to which CTI will merge with and into a subsidiary of Verint.

1 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,191.37 -195.84 -1.13%
S&P 500 2,002.16 -27.39 -1.35%
NASDAQ 4,637.9940 -43.5030 -0.93%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs