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Verint Announces Fourth Quarter And Full Year Results

Verint ® Systems Inc. (NASDAQ: VRNT), a global leader in Actionable Intelligence® solutions and value-added services, today announced results for the quarter and full year ended January 31, 2013.

“We are pleased with our strong fourth quarter results, which drove $848 million of non-GAAP revenue and $2.64 of non-GAAP fully diluted EPS for the year. 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 months and year ended January 31, 2013 prepared in accordance with generally accepted accounting principles (“GAAP”) and not in accordance with GAAP (“non-GAAP”).

Three Months Ended January 31, 2013 – GAAP

  • Revenue: $229.0 million
  • Operating Income: $35.5 million
  • Diluted EPS: $0.50

 

Year Ended January 31, 2013 – GAAP

  • Revenue: $839.5 million
  • Operating Income: $99.6 million
  • Diluted EPS: $0.96
   

Three Months Ended January 31, 2013 – Non-GAAP

  • Revenue: $230.1 million
  • Operating Income: $61.0 million
  • Diluted EPS: $0.91

 

Year Ended January 31, 2013 – Non-GAAP

  • Revenue: $848.1 million
  • Operating Income: $189.2 million
  • Diluted EPS: $2.64
 

Financial Outlook

Below is Verint’s non-GAAP outlook for the year ending January 31, 2014.

  • We expect revenue to increase between 6% and 7% compared to the year ended January 31, 2013
  • We expect fully diluted earnings per share in the range of $2.75 plus or minus 5 cents
  • While this is our annual outlook, there are seasonal trends in the enterprise software industry, and therefore we expect Q1 to be down sequentially from Q4 levels both in terms of revenue and profitability

Conference Call Information

We will conduct a conference call today at 4:30 p.m. ET to discuss our results for the fourth quarter and full year ended January 31, 2013 and outlook for the year ending January 31, 2014. An online, real-time webcast of the conference call will be available on our website at www.verint.com. The conference call can also be accessed live via telephone at 1-877-703-6108 (United States and Canada) and 1-857-244-7307 (international) and the passcode is 67649927. Please dial in 5-10 minutes prior to the scheduled start time.

About Non-GAAP Financial Measures

This press release and the accompanying tables include non-GAAP financial measures. For a description of these non-GAAP financial measures, including the reasons management uses each measure, and reconciliations of these non-GAAP financial measures to the most directly comparable financial measures prepared in accordance with GAAP, please see Tables 2 and 3 as well as "Supplemental Information About Non-GAAP Financial Measures" at the end of this press release. Because we do not predict special items that might occur in the future, and our outlook is developed at a level of detail different than that used to prepare GAAP financial measures, we are not providing a reconciliation to GAAP of our forward-looking financial measures for the year ending January 31, 2014.

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