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NICE Reports 10% Increase In Non-GAAP Revenues To $221 Million And 19% Increase In Non-GAAP EPS To $0.64 For The Third Quarter Of 2012

Stocks in this article: NICE

RA'ANANA, Israel, October 31, 2012 /PRNewswire/ --

The Company Increases its EPS Guidance for the Year

The Company Announces a New Share Repurchase Program to Buy Up to $100 Million

NICE Systems (NASDAQ: NICE) today announced results for the third quarter ended September 30, 2012.

"We reported record revenues and earnings per share for the third quarter of 2012. The results were supported by another strong quarter for our analytics based advanced applications. As we enter the final quarter of the year, we see strong demand for our solutions and expect it to be a strong quarter in bookings and revenues," said Zeevi Bregman, President and CEO of NICE Systems.

Mr. Bregman continued, "The opportunities around Big Data are growing and we continue to strengthen our domain leading position in Big Data analytics through further product development, strategic partnerships and acquisitions. Our best-in-class, real-time analytic solutions provide our customers with the capabilities to better extract value from Big Data to help them understand what is transpiring from within, across and outside of their organizations and to better support their mission critical operations. This enables our customers to meet the challenges around compliance and regulation, fraud prevention, safety and security, and organizations' needs to improve operations and enhance the customer experience amid rapidly increasing social media influence. Our broad offering of analytic solutions is where the future growth lies for NICE."

Non-GAAP Financial Highlights for the Third Quarter Ended September 30, 2012:

Revenues: Third quarter 2012 non-GAAP total revenues were a record $220.9 million, up 10.2% from $200.4 million for the third quarter of 2011.

Gross Profit: Third quarter 2012 non-GAAP gross profit and non-GAAP gross margin increased to $145.0 million and 65.6%, respectively, from $129.5 million and 64.6%, respectively, for the third quarter of 2011.

Operating Income: Third quarter 2012 non-GAAP operating income and non-GAAP operating margin were $42.1 million and 19.1%, respectively, compared to $38.9 million and 19.4%, respectively, for the third quarter of 2011.

Net Income: Third quarter 2012 non-GAAP net income and non-GAAP net margin increased to $39.7 million and 18.0%, respectively, from $34.5 million and 17.2%, respectively, for the third quarter of 2011.

Fully Diluted Earnings Per Share: Third quarter 2012 non-GAAP fully diluted earnings per share increased to a record $0.64, up 18.5% from $0.54 for the third quarter of 2011.

GAAP Financial Highlights for the Third Quarter Ended September 30, 2012:

Revenues: Third quarter 2012 total revenues increased 9.7% to $218.9 million compared to $199.5 million for the third quarter of 2011.

Gross Profit: Third quarter 2012 gross profit and gross margin were $130.5 million and 59.6%, respectively, compared to $121.8 million and 61.1%, respectively, for the third quarter of 2011.

Operating Income: Third quarter 2012 operating income and operating margin were $13.3 million and 6.1%, respectively, compared to $20.4 million and 10.2%, respectively, for the third quarter of 2011.

Net Income: Third quarter 2012 net income and net margin were $16.8 million and 7.7%, respectively, compared to $18.3 million and 9.2%, respectively, for the third quarter of 2011.

Fully Diluted Earnings Per Share: Fully diluted earnings per share for the third quarter of 2012 was $0.27 compared to $0.29 for the third quarter of 2011.

Operating Cash Flow and Cash Balance: Third quarter 2012 operating cash flow was $11.6 million. In the third quarter, approximately $28 million was used for share repurchases. As of September 30, 2012, total cash and cash equivalents, short term investments and marketable securities were $422 million, with no debt.

Share Repurchase Program

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