Verint Revenue Rises

But the analytics security software maker misses EPS estimates

Author:: Priya Ganapati
Publish date:: Jun 11, 2007 5:37 PM EDT

Security and analytics software company

Verint Systems

missed earnings estimates in the first quarter, but revenue came in higher than Street expectations.

Excluding items, net income was $9.35 million for the first quarter of fiscal 2007, or 28 cents a share. That compares with Thomson Financial analysts' estimates of earnings of 39 cents a share.

A year ago, Verint earned $7.71 million, or 23 cents a share.

Revenue for the first quarter grew 15% to $101.2 million, from $87.7 million a year ago. Analysts were expecting revenue of $98.5 million.

The company said it has completed its $950 million acquisition of Witness Systems.

Verint did not offer guidance for the coming quarter.

Shares of Verint closed Monday's regular session up 75 cents, or 2.5%, to $30.

The company had been recently delisted from the

Nasdaq

for failing to file statements with the

Securities and Exchange Commission

on a timely basis.

Verint has delayed filing its quarterly financial reports because of ongoing investigation into the stock-option practices of its largest stakeholder,

Comverse Technology

(CMVT)

, which holds a 57% stake in the company.