Verint Systems Inc. (NASDAQ:VRNT) reported weaker-than-expected results for its fourth quarter on Tuesday.
The company, based in Melville, New York, revealed oday announced results for the three months and year ended January 31, 2020 (FY20). Revenue for the three months ended January 31, 2020 was $339 million on a GAAP basis and $349 million on a non-GAAP basis.
Diluted EPS for the three months ended January 31, 2020 was $0.07 on a GAAP basis and $1.11 on a non-GAAP basis. Revenue for the year ended January 31, 2020 was $1,304 million on a GAAP basis and $1,336 million on a non-GAAP basis. Diluted EPS for the year ended January 31, 2020 was $0.43 on a GAAP basis and $3.59 on a non-GAAP basis.
CEO Dan Bodner said, "In FY20, we made significant progress with our three strategic objectives and are pleased to report strong execution of our Customer Engagement Cloud First strategy, our Cyber Intelligence Software Model strategy and our plan to separate our two businesses.
"In the current COVID-19 environment, we are highly engaged with our global base of customers helping them to navigate the new challenges they are facing. Our employees remain fully engaged, working either from home, or from of offices that have been authorized to remain open, and we believe our business continuity plan is working well."
According to CFO Doug Robinson, "we have a strong balance sheet with $3 billion of assets, including more than $550 million of cash and short-term investments. We believe we are well positioned to navigate the current environment, as we stay focused on supporting our customers and partners during this period."
Shares descended $5.84, or 13.6%, to $37.16
