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Verint Systems Inc. (VRNT) Trades Flat After Hours Despite Profit Beat

Adjusted earnings were nine cents ahead of estimates

By Karl Utermohlen, InvestorPlace Writer

http://bit.ly/2zUEsvA

Verint Systems Inc. (NASDAQ:VRNT) reported on its latest quarter after the bell Wednesday.

Verint Systems Inc. (VRNT)
Source: Flickr

The company posted net income of $2.5 million, which was better than the loss posted in the same period a year ago. Earnings were four cents per share, or 66 cents per share on an adjusted basis, topping Wall Street’s expectations of 57 cents per share, according to Zacks Investment Research.

Verint Systems also brought in revenue of $280.7 million during the period, or $283.8 million on an adjusted basis. The figure topped analysts’ consensus estimate of $282.8 million, according to Zacks.

“We are pleased with our strong third quarter and year-to-date results. For Q3, we had sequential and year-over-year revenue growth in both of our segments and earnings increased faster than revenue driven by top line growth and expanding margins,” said Dan Bodner, Verint CEO and President.

The company sees its full-year earnings as being $2.75 per share, while revenue is slated to be $1.14 billion. Bodner added that Verint Systems expects that the company’s Customer Engagement segment revenue will grow 5% year-over-year.

Additionally, its Cyber Intelligence segment is slated to grow about 10% for the period. “In Cyber Intelligence, we are a market leader in security and intelligence data mining software and we are pleased with our double digit year-over-year revenue growth for the third consecutive quarter this year,” Bodner said.

VRNT stock fell 0.9% after hours Wednesday.


Article printed from InvestorPlace Media, https://investorplace.com/2017/12/verint-systems-inc-vrnt/.

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