NICE raises guidance after strong Q2 results

Barak Eilam Photo: Eyal Izhar

The Israeli enterprise software solutions company beat the analysts on both revenue and earnings per share.

Israeli enterprise software solutions company NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) has reported strong second quarter results and raised its 2019 revenue and earnings per share guidance.

Second quarter 2019 revenue increased 11.2% to $380.4 million ($0.65 per share) compared with $342.0 million ($0.54 per share) for the second quarter of 2018. Second quarter 2019 GAAP net profit increased to $42.1 million compared twith $34.2 million for the second quarter of 2018. Second quarter 2019 non-GAAP net profit increased to $80.9 million ($1.25 per share) from $69.3 million ($1.10 per share) for the second quarter of 2018.

Both revenue and earnings per share were above the analysts' expectations.

Third quarter 2019 non-GAAP total revenue is expected to be in a range of $380 million to $390 million (2018 non-GAAP: $358.6 million). Third quarter 2019 non-GAAP fully diluted earnings per share is expected to be in a range of $1.23 to $1.33 (2018 non-GAAP: $1.20). NICE increased full year 2019 non-GAAP total revenue to be in an expected range of $1,563 million to $1,583 million (2018 non-GAAP: $1,453.4 million) and increased full year 2019 non-GAAP fully diluted earnings per share to be in an expected range of $5.13 to $5.33 (2018 non-GAAP: $4.75).

NICE CEO Barak Eilam said, “We are very pleased with the strong results we reported for the second quarter of 2019, including double digit growth in all key financial metrics. What continues to stand out is the rapid growth we are seeing in the cloud, driven by the penetration of our two profoundly market differentiating cloud platforms - CXone for Customer Engagement and X-Sight for Financial Crime and Compliance - into all segments of the market, including large enterprises, where we have witnessed robust demand and strong growth.”

Published by Globes, Israel business news - en.globes.co.il - on August 8, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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Barak Eilam Photo: Eyal Izhar
Barak Eilam Photo: Eyal Izhar
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