Verint Systems Inc. (NASDAQ:VRNT) reported on its fourth quarter late Wednesday, yielding impressive results that came in ahead of Wall Street’s revenue and earnings outlook.
The software provider unveiled GAAP operating income of $36.3 million for the last period of its fiscal 2017, while non-GAAP operating income was $82 million. GAAP net income came in at 26 cents per share, while adjusted income came in at $1.05 per share.
Analysts were calling for Verint Systems to bring in adjusted earnings of $1 per share. Revenue was also strong at $318.7 million, or $322.7 million on an adjusted basis, topping the Wall Street consensus estimate of $313.98 million.
For the fiscal year, the company posted a loss of 10 cents per share, or a profit of $2.81 per share on an adjusted basis. Revenue amounted to $1.15 billion, while GAAP operating income was $48.6 million and non-GAAP operating income was $226.1 million.
“The momentum we experienced throughout the year continued in Q4 and we are pleased to have finished the year strong,” said Dan Bodner, Verint CEO and President
“We believe our overachievement reflects on-going demand for actionable intelligence solutions and the successful execution of our growth strategy. The investments and changes we have made in the business position us well for sustained long-term growth and we are again raising our guidance for the current year,” the boss concluded
VRNT stock fell about 0.7% during regular trading hours but remained flat after the bell.