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Verint Announces Third Quarter Results

Verint ® Systems Inc. (NASDAQ: VRNT), a global leader in Actionable Intelligence® solutions and value-added services, today announced results for the quarter ended October 31, 2012.

“In Q3, we had strong profitability and cash from operations, despite the economic environment. We believe we are well positioned for long-term growth in both the enterprise and security intelligence markets due to our broad product portfolio and strong competitive position,” said Dan Bodner, CEO and President.

Financial Highlights

Below is selected unaudited financial information for the three and nine months ended October 31, 2012 prepared in accordance with generally accepted accounting principles (“GAAP”) and not in accordance with GAAP (“non-GAAP”).
 

Three Months Ended October 31, 2012 – GAAP
  • Revenue: $201.5 million
  • Operating Income: $16.8 million
  • Diluted EPS: $0.04

 

Nine Months Ended October 31, 2012 – GAAP
  • Revenue: $610.6 million
  • Operating Income: $64.0 million
  • Diluted EPS: $0.41

Three Months Ended October 31, 2012 – Non-GAAP
  • Revenue: $202.6 million
  • Operating Income: $45.7 million
  • Diluted EPS: $0.63

 

Nine Months Ended October 31, 2012 – Non-GAAP
  • Revenue: $618.0 million
  • Operating Income: $128.2 million
  • Diluted EPS: $1.74
 

Financial Outlook

Below is Verint’s non-GAAP outlook for the year ending January 31, 2013.
  • We expect revenue in the range of $845 million plus or minus 1%
  • We expect diluted earnings per share in the range of $2.50 plus or minus 5 cents

Timing of Verint/CTI Merger

Verint continues to expect the previously announced merger with Comverse Technology, Inc. (“CTI”) to close in February 2013. The closing of the merger is subject to certain conditions including, among other things, the effectiveness of Verint’s Form S-4 registration statement and receipt of the approvals of Verint and CTI shareholders, and there can be no assurance as to when or if the transactions contemplated by the merger agreement will be consummated.

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