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SAN FRANCISCO -- A strengthening dollar drove down fourth-quarter profit at Amdocs (DOX) - Get Amdocs Limited Report and has lowered the company's first-quarter estimates.

Amdocs said Wednesday that net income fell 14% to $82.7 million, or 38 cents a share, from $96.2 million, or 43 cents a share, in the same period one year ago.

Shares fell $3.65, or 15.4%, to $19.99 in recent extended trading.

Revenue at the Chesterfield, Mo., software company grew 14% to $825.3 million. Analysts polled by Thomson Reuters expected a top line of $829 million.

Excluding special charges, EPS was 54 cents. Analysts were expecting earnings of 62 cents a share, less items.

"Our earnings per share were adversely impacted by the unprecedented extreme volatility in exchange rates and the rapid strengthening of the U.S. dollar against other currencies," CEO Dov Baharav said in a statement.

Deferred revenue grew 12% year over year to $197.9 million.

For the first quarter, Amdocs projects revenue ranging from $785 million to $810 million and EPS, excluding items, of 54 cents to 57 cents. Analysts were expecting $831.5 million and EPS of 62 cents.

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"The financial volatility that we experienced in the fourth quarter is accompanied by economic uncertainty and these factors are impacting our outlook for fiscal 2009," Baharav said. "Foreign exchange in particular is a headwind" for the first quarter, he added.

Amdocs also announced it has agreed to buy Changing Worlds for $60 million, net of cash on hand. The privately held company provides personalization software for mobile telecoms.

Along with




CSG Systems

(CSGS) - Get CSG Systems International Inc. Report

, Amdocs provides software to the communications market.