Verint Systems Inc. (NASDAQ: VRNT) rose Thursday after reporting a fourth-quarter earnings beat. The company also raised its 2020 guidance.
For the fourth quarter of FY2019, GAAP revenue jumped to $330 million, and diluted EPS increased to 41 cents, respectively. On a non-GAAP basis, revenue hiked to $337 million and diluted EPS increased to $1.08.
According to CEO Dan Bodner, "We believe our strong results and over achievement reflect the successful execution of the growth strategy that we implemented approximately two years ago. We learned about our customers' mounting business and security challenges, and we responded by accelerating our automation and cloud innovation.
"We believe our automation and cloud strategy will further differentiate Verint in a market that is increasingly embracing Actionable Intelligence solutions."
The Melville, New York-based Verint also raised its non-GAAP outlook for revenue for the year ending January 31, 2020 with revenue projections increasing by $25 million to $1.37 billion.
In addition to raising our annual guidance, the company expects a strong first fiscal quarter with 8% year-over-year growth in non-GAAP revenue and 14% year-over-year growth in non-GAAP EPS.
Verint claims to be "a global leader in Actionable Intelligence® solutions with a focus on customer engagement optimization and cyber intelligence. Today, over 10,000 organizations in more than 180 countries—including over 85% of the Fortune 100—count on intelligence from Verint solutions."
Shares scaled higher $6.38, or 12.4%, to $57.92
