Amdocs reports robust revenue and profit growth

The billings and business systems provider handily beat the analysts' profit consensus for the third fiscal quarter.

Billings and business systems provider Amdocs Ltd. (NYSE: DOX) has reported robust revenue and profit growth for the third fiscal quarter of 2013, handily beating the analysts' profit consensus. Revenue rose 4% to $841.3 million for the third fiscal quarter from $808.8 million for the corresponding quarter of 2012. Revenue was within the company's guidance of $825-$855 million, but below the analysts' consensus of $854 million.

GAAP-based net profit rose to $119.6 million ($0.73 per share) for the third fiscal quarter from $98.8 million for the corresponding quarter, and non-GAAP net profit rose to $134.4 million ($0.83 per share) from $118.4 million. The company beat the analysts' earnings per share consensus of $0.74.

Free cash flow was $151 million for the third fiscal quarter, and the 12-month backlog rose $20 million during the quarter to $2.83 billion at the end of June.

In its guidance for the fourth fiscal quarter, Amdocs forecasts GAAP-based earnings per share of $0.50-0.58 and non-GAAP earnings per share of $0.60-0.66 on $830-860 million revenue.

Amdocs CEO Eli Gelman attributed the company's growth to continued strength in North America, especially by AT&T Inc. (NYSE: T). He added that the company sees strong opportunity with new and existing customers in emerging markets, while revenue in Europe was steady, despite the economic climate.

Gelman concluded, "We now expect to deliver non-GAAP EPS growth towards the higher end of our prior expectation of 5-8%."

Published by Globes [online], Israel business news - www.globes-online.com - on August 1, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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