Verint Swings from Loss to Profit in First Quarter

New York-based speech and text analytics specialist Verint has reported net profit of $6.3m for the first fiscal quarter of 2012, compared with a net loss of $3.7m a year earlier; helped mainly by a 12% increase in revenue to $196.6m.

The firm's portfolio of Enterprise Intelligence Solutions and Security Intelligence Solutions captures and analyzes information from formats including voice, video and unstructured text. Last summer, Verint acquired online survey management software firm Vovici for an initial cash payment of $56.5m, and an agreement to pay up to $19.9m based on Vovici's future performance.

For the three months ended April 30 2012, Verint's revenue after acquisition-related adjustments (non-GAAP) rose 13.4% to $200.2m, compared with $176.6m in Q1 2011, while non-GAAP net profit fell to $23m from $24.2m.

On a non-GAAP basis, revenue rose to $111.7m from $97.2m in the Enterprise Intelligence segment, and increased to $59.0m from $49.0m in the Communications Intelligence business, while in the Video Intelligence division it fell slightly to $29.4m from $30.2m.

Dan Bodner (pictured), CEO and President, comments: 'We are pleased with our first quarter non-GAAP revenue of $200m. We experienced double digit year-over-year revenue growth in both the enterprise and security intelligence markets with increases in all three geographies - Americas, EMEA, and APAC. Our strong results contributed to a record cash increase of approximately $40m in the first quarter.'

For the year ending January 31, 2013, Verint is projecting revenues of between $860m and $880m. Yesterday, the firm's shares were up 2.5% to $29.10.

Web site: www.verint.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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