(Nasdaq:NICE) will announce revenues of $24 million and an operational loss of $15.8 million for the first quarter of 2001, estimates
Stephen Levey updated his research coverage ahead of NICE System's financial reports for the first quarter of 2001 next week. He notes management forecasts that first quarter revenues will not surpass $25 million.
The analyst, who rates NICE a Hold, expects the company's net loss in the first quarter to stand at $2.26 per share, after one-off charges. In other words, Levey forecasts that NICE Systems will declare a loss of $27 million.
According to Levey, NICE's competitor,
(Nasdaq:WITS), today lowered its revenue forecasts by 6%, a clear indication of the economic slow-down in the U.S.
Levey added that there is a definite risk that NICE's management will take similar steps and will lower its forecasts, which presently stand at $132 million annual revenue, for the coming year.
NICE Systems shares are presently traded at $12. Levey notes a strong level of support at $7.5, which more truly reflects the company's cash situation.