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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 three months and year ended January 31, 2014.

“We are pleased to finish the year strong with non-GAAP results of $257 million of revenue and $0.91 of diluted earnings per share in Q4. For the year, we generated record non-GAAP results of $910 million of revenue, and $2.84 of diluted earnings per share. Non-GAAP EBITDA came in very strong at $227 million, reflecting 10.8% year-over-year growth, driven by a combination of revenue growth and operating leverage,” said Dan Bodner, CEO and President.

Bodner continued, “Our long-term growth strategy is to maintain our leadership in our current markets while identifying adjacent markets in which we can leverage our core competency in Actionable Intelligence. We are focused on three areas of the Actionable Intelligence market: Customer Engagement Optimization, Security Intelligence, and Fraud, Risk and Compliance. We are very excited about the long term opportunities for Verint, as well as our near term prospects, reflected in our guidance for the current year of approximately $1.1 billion of revenue with 25% EBITDA margins on a non-GAAP basis.”

Financial Highlights

Below is selected unaudited financial information for the three months and year ended January 31, 2014 prepared in accordance with generally accepted accounting principles (“GAAP”) and not in accordance with GAAP (“non-GAAP”).
Three Months Ended January 31, 2014 - GAAP       Three Months Ended January 31, 2014 - Non-GAAP
  Revenue: $255.7 million   Revenue: $257.1 million
Operating Income: $39.5 million Operating Income: $65.5 million
Diluted EPS: $0.42 Diluted EPS: $0.91
 
 
Year Ended January 31, 2014 - GAAP Year Ended January 31, 2014 - Non-GAAP
Revenue: $907.3 million Revenue: $910.0 million
Operating Income: $122.3 million Operating Income: $210.0 million
Diluted EPS: $0.99 Diluted EPS: $2.84
 

Financial Outlook

Below is Verint’s non-GAAP outlook for the year ending January 31, 2015.
  • We expect revenue in the range of $1.08 billion to $1.13 billion, and diluted earnings per share in the range of $3.20 to $3.40.
  • For Q1, we expect revenue in the range of $250 million to $260 million reflecting a full quarter of KANA which closed on February 3, 2014, as well as the seasonal trends that are typical in the enterprise software industry. We expect operating margins in Q1 to be similar to the first quarter of last year.

Conference Call Information

We will conduct a conference call today at 4:30 p.m. ET to discuss our results for the three months and year ended January 31, 2014 and outlook for the year ending January 31, 2015. 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 1-800-706-7745 (United States and Canada) and 1-617-614-3472 (international) and the passcode is 41282453. 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, 2015.

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