Having lowered its revenue projections in the previous forecast, Amdocs (NYSE:DOX) managed to surpass them today.
The company reported Q4 2001 revenues of $422.6 million, up 23.5% from the previous quarter, and higher than the $420 million projections. At 36 cents per share, the company also beat its pro forma net profit projections by one cent. Its profit in the quarter was 33.1% higher than the profit reported in the same quarter last year. Net profit totaled $80.7 million, up 32.15% from the same quarter last year.
The company beat analysts' forecasts in terms of the number of contracts it had signed during the quarter, which came to eleven, surpassing even the most optimistic Goldman Sachs projections for 10 contracts.
In its report of the company published today the bank said the number of contracts the company will report will be an indication of its ability to get future contracts, and its ability to meet the 40 to 50 contracts per quarter forecast.
From the current look of things, Amddocs is still getting contracts, though it admits the task is harder than it has ever been. Amdocs CEO Avi Naor said in response "the company has obtained several excellent contracts in the quarter in a variety of areas, in wireless, CRM and billing." The company prides itself on its contract with Spanish firm Telefonica (NYSE:TEF), a contract Naor says is bigger than the company's average. Naor added he was hoping to develop his connections with Telefonica and sign more deals with it.