Billing and customer care systems developer Amdocs Ltd. (NYSE: DOX) missed profit estimates by $0.02 in the quarter ended December 31.
Amdocs reported non-GAAP earnings per share (EPS) of $0.52 for the quarter, which is its 2011 first fiscal quarter, below a consensus analyst estimate of $0.54.
Revenue for the quarter was $775.2 million, above analyst estimates of $770.01 million.
The company's twelve-month backlog reached $2.56 billion at the end of the first fiscal quarter, up $35 million from the end of the fourth fiscal quarter of 2010.
Amdocs provided guidance for the next quarter of $775-$790 million in revenue. Diluted earnings per share on a non-GAAP basis for the second quarter are expected to be $0.53-$0.60, GAAP diluted earnings per share are forecast at $0.43-$0.51.
CEO Eli Gelman said that during the quarter the company won an agreement with an emerging markets customer that it had mentioned in its previous earning release. Gelman said, "While this agreement resulted in a non-recurring upfront expense, it significantly expands a strategic relationship with a key global service provider and, we believe, opens an even larger opportunity for long-term growth in the region in which the emerging markets customer operates."
Gelman added, "After my first quarter as CEO, I am even more excited about the opportunities in front of Amdocs. Furthermore, I have greater confidence that we have both identified and are appropriately addressing our near-term challenges while focusing the company on the growth potential ahead of us. Looking forward, we now expect revenue to grow in the range of 4-6% in fiscal 2011 as compared to fiscal 2010. In addition, we expect profitability to improve during the fiscal year as we begin to realize the benefits of our internal and customer-focused investments."
Published by Globes [online], Israel business news - www.globes-online.com - on January 26, 2011
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