Verint Systems (VRNT 39.55) reported fourth quarter earnings of
$0.90 per share after the close yesterday, excluding non-recurring items, which came in better than
On the top line, revenues rose 5.4% year/year to $295.9 million, which also
came in above expectations.
The fourth quarter is typically the company's strongest quarter of the year. Strong sequential and year-over-year revenue gains in the fourth quarter were seen in both the company's Customer Engagement and Cyber Intelligence segments.
In Customer Engagement, fourth quarter revenue increased 8% sequentially and 6% year-over-year on a constant currency basis. The company continues to expand its portfolio with a flexible hybrid cloud deployment strategy and expects its cloud revenue to increase more than 25%, driving mid-single digit revenue growth in the current year for Customer Engagement.
In Cyber Intelligence, fourth quarter revenue increased 26% sequentially and 7% year-over year on a constant currency basis reflecting a better global spending environment and increasing demand for its cyber intelligence solutions. The company's strong finish to the year, and recent business activity, has contributed to its improved outlook of high-single digit revenue growth in the current year for Cyber Intelligence.
Looking ahead into its fiscal year 2018, the company expects to see earnings of approximately $2.70 per share, excluding non-recurring items, which falls roughly in-line with expectations. Revenue guidance of $1.12-1.16 billion comes in-line with expectations.
More color on its outlook:
- The company expects revenue as follows:
- In its Customer Engagement segment, the company expects mid-single digit revenue growth
- In its Cyber Intelligence segment, the company expects high-single digit revenue growth
- Based on the above, the company expects total revenue of $1.14 billion with a range of +/- 2% and diluted earnings per share of $2.70 at the midpoint
- Its non-GAAP outlook for the year ending January
31, 2018 excludes the following GAAP measures for which it is able to provide a
range of probable significance:
- Revenue adjustments related to completed acquisitions are expected to be between approximately $9 million and $12 million for the year ending January 31, 2018.