Amdocs Nails First Quarter

But guidance for the second quarter looks iffy.
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Amdocs

(DOX) - Get Report

nailed its fiscal first quarter and guided toward solid results ahead.

The St. Louis-based telecom billing and customer support contractor posted adjusted net income of $89.9 million, or 42 cents a share, on sales of $587 million in the quarter ended Dec. 31. Those numbers compare with an adjusted profit of 34 cents on $469.5 million in the year-ago period. Latest-quarter figures surged past the analyst consensus estimate, which called for a 40-cent profit on $585.2 million in sales.

Looking ahead, the company expects to book a profit of about 40 cents a share on $600 million in revenue in the fiscal second quarter ending in March. For the fiscal year, Amdocs predicts adjusted earnings of $1.69 a share on sales of $2.45 billion.

Guidance for the current quarter ending in March was slightly below expectations. Analysts were looking for an adjusted profit of 41 cents a share on $601.1 million in sales, according to Reuters Research.

Amdoc shares hit a new three-year high Wednesday, rising $1.02 to close at $31.42 after the company won an eight-year contract to provide billing and customer support to

Sprint

(S) - Get Report

Tuesday. No cash terms were disclosed.