Bank Hapoalim maintains Buy rating for Israel's NICE

Analyst Racheli Gershon predicts rising sales and margins, decreasing loss
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Bank Hapoalim is maintaining a Buy rating for NICE Systems (Nasdaq:NICE)

(NICE) - Get Report

ahead of the company's second-quarter 2002 report, due Wednesday.

NICE, which provides digital recording and quality management solutions, will continue to show improving results against the parallel and sequential quarters, predicts Hapoalim analyst Racheli Gershon, in keeping with her previous estimates.

Standing by earlier assessments, Gershon notes, she expects the second quarter 2002 report to show increasing sales, widening gross margins, and decreasing net loss.

She estimates that the Ra'anana-based company will report second-quarter revenue of $37 million to $39 million, around 20% more than the $30.5 million reported for the second quarter of 2001.

The company's gross profit margin will rise to 47%, she estimates, versus 45.1% in the previous quarter.

On the bottom line, Gershon predicts a loss of $700,000 to $750,000 or four to six cents per share, compared with losing 60 cents per share in the parallel quarter of 2001.

The average analysts' forecast has NICE reporting $38 million revenues and losing 6 cents per share.