Amdocs Ltd. (NYSE: DOX) reported quarterly earnings per share (EPS) above analyst estimates, as revenue grew 7.7% compared with the corresponding period. However, its guidance for next quarter was below analyst estimates.
Amdocs reported financial results for its fiscal fourth quarter. Revenue rose to $762.2 million, up 7.7% compared with last year’s fourth fiscal quarter. The consensus analyst estimate was for $763.38 million, above the actual results. Revenue was 1.2% higher than the previous quarter. Amdocs said that foreign currency movements positively impacted revenue by approximately $3 million, relative to the previous quarter.
Net profit on a non-GAAP (generally accepted accounting principles) basis was $122.4 million, or $0.62 per diluted share, compared to non-GAAP net profit of $109.2 million, or $0.53 per diluted share, in the corresponding quarter of last year. The figure was $0.03 higher than the consensus analyst EPS estimate of $0.59. Amdocs said its actual figure was higher than its previous guidance of $0.57-0.60.
The company reported a twelve-month backlog of $2.525 billion as of the end of the quarter, up $55 million from the end of the previous quarter.
Amdocs provided guidance for the next quarter, which is its fiscal 2011 first quarter. It expects revenue of $760-$780 million and diluted non-GAAP EPS of $0.49-$0.58. The profit figures are lower than the consensus estimate of $0.60 on revenue of $774.39 million.
The company repurchased $181 million of ordinary shares during fourth quarter
Eli Gelman will be appointed CEO of Amdocs Management Ltd. on November 15, 2010, accelerated from the previously announced timeframe of the first calendar quarter of 2011. Gelman will replace retiring CEO Dov Baharav.
Baharav said, “Our fourth quarter results mark a solid conclusion to fiscal 2010, a year in which Amdocs reached a positive inflection point after a period of significant macroeconomic volatility, improved its competitive position and successfully won new business globally. While there are some near-term challenges ahead, I strongly believe in the opportunities for Amdocs and have great confidence that Eli Gelman will lead the company to success in years to come. Eli has the experience, energy and deep understanding of Amdocs and our industry to reignite our long-term growth engines and invest in the future."
Published by Globes [online], Israel business news - www.globes-online.com - on November 4, 2010
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