LONDON, UK / ACCESSWIRE / January 05, 2018 / Active-Investors.com has just released a free earnings report on Verint Systems Inc. (NASDAQ: VRNT) ("Verint"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=VRNT. The Company posted its financial results on December 06, 2017, for the third quarter of the fiscal year 2018. The Melville, New York-based Company's non-GAAP total revenues and non-GAAP diluted EPS grew on a y-o-y basis, outperforming market consensus estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Verint Systems most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=VRNT
Earnings Highlights and Summary
For the three months ended October 31, 2017, Verint reported GAAP total revenues of $280.73 million, which came in 8.4% above the $258.90 million recorded at the end of Q3 FY17. The Company's non-GAAP total revenues increased 9.1% to $283.76 million in Q3 FY18 from $260.03 million in Q3 FY17, beating market forecasts of $282.8 million.
The maker of software for analyzing intercepted communications recorded a GAAP net income of $2.49 million, or $0.04 per diluted share, in Q3 FY18 compared to a GAAP net loss of $8.24 million, or $0.13 loss per diluted share, in Q3 FY17. Meanwhile, the Company's non-GAAP net income increased to $42.48 million, or $0.66 per diluted share, in Q3 FY18 from $37.21 million, or $0.59 per diluted share, in Q3 FY17, beating Wall Street's expectations of $0.57 per diluted share.
Operational Metrics
In the reported quarter, the Company's non-GAAP gross profit stood at $184.68 million, or 65.1% of revenues, compared to $169.12 million, or 65.0% of revenues, in the previous year's same quarter. Meanwhile, non-GAAP operating income increased to $55.78 million, or 19.7% of revenues, during the reported quarter from $49.04 million, or 18.9% of revenues, in Q3 FY17. Furthermore, adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) decreased to $63.35 million, or 22.3% of non-GAAP revenues, during Q3 FY18 from $56.00 million, or 21.5% of non-GAAP revenues, in Q3 FY17.
Segment-Wise
Verint's Customer Engagement segment reported non-GAAP revenues of $184.51 million in Q3 FY18 versus $173.86 million in the last year's comparable quarter. The segment's non-GAAP operating income stood at $45.28 million, or 24.5% of segment revenues, in Q3 FY18 compared to $40.63 million, or 23.4% of segment revenues, in Q3 FY17.
Verint's Cyber Intelligence segment non-GAAP revenues increased to $99.25 million for Q3 FY18 from $86.17 million in the prior year's corresponding period. The segment posted a non-GAAP operating income of $10.49 million, or 10.6% of segment revenues, in Q3 FY18 versus $8.42 million, or 9.8% of segment revenues, in Q3 FY17.
Cash Flow and Balance Sheet
During the first nine months ended October 31, 2017, Verint generated cash from operations of $96.17 million compared to $71.69 million in the prior year's same quarter. The Company had cash and cash equivalents of $312.67 million as on October 31, 2017, compared to $307.36 million as on January 31, 2017. Additionally, the Company's long-term debt standing was $766.01 million as on October 31, 2017, versus $744,260 million as on January 31, 2017.
Outlook
In its outlook for the fiscal year ending January 31, 2018, Verint expects around 5% revenue growth in its Customer Engagement segment. For its Cyber Intelligence segment, the Company forecasts a 10% revenue growth. Furthermore, total revenues are anticipated to be $1.14 billion with a range of +/- 1%, while diluted earnings per share is projected to be $2.75 at the midpoint during the full year FY18.
Stock Performance Snapshot
January 04, 2018 - At Thursday's closing bell, Verint Systems' stock marginally rose 0.95%, ending the trading session at $42.50.
Volume traded for the day: 293.65 thousand shares.
Stock performance in the previous six-month period - up 6.78%; past twelve-month period - up 16.12%; and year-to-date - up 1.55%
After yesterday's close, Verint Systems' market cap was at $2.71 billion.
The stock is part of the Technology sector, categorized under the Business Software & Services industry. This sector was up 0.4% at the end of the session.
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