Verint Systems Inc. (NASDAQ: VRNT) rose Thursday after the company reported stronger-than-expected earnings for its second quarter and raised its 2019 guidance.
The company, out of Melville, New York, announced Wednesday, pegged second-quarter revenue at $306.3 million, with operating income of $29.2 million and diluted net income per share at 33 cents.
Said CEO Dan Bodner, "In Q2, our positive momentum continued as we delivered 11% year-over-year revenue growth in both of our business segments. Our results were driven by our focus on actionable intelligence innovation - including analytics, AI, and automation technologies - in customer engagement and cyber intelligence.
"We are pleased with our strong revenue growth which was accompanied by continued margin expansion. Given our strong results and momentum we are again raising our annual guidance for revenue and EPS."
With respect to its guidance, the company says it is raising its outlook for total revenue to $1.24 billion with a range of +/- 2%, and raising our outlook for diluted earnings per share to $3.15 at the midpoint of our revenue guidance, representing 12% year-over-year growth.
VRNT’s non-GAAP outlook for the year ending January 31, 2019 excludes the following GAAP measures:Amortization of intangible assets of approximately $55 million, and amortization of discount on convertible notes of approximately $12 million.
The company boasts a status as a global leader in Actionable Intelligence solutions and value-added services.
Shares opened Thursday at $49.40, an improvement of $2.20, or 4.7%, from Wednesday, and within a 52-week trading range of $37.10 to $49.95.
