NICE Systems 2014 revenue breaks $1b barrier

NICE Systems

The recorded data and voice security and analysis company reported record revenue and profit in 2014.

Recorded data and voice security and analysis company NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) has reported record revenue for the fourth quarter and full year of 2014. Fourth quarter 2014 revenue was a record $294.2 million, up 8.6% from $271 million in the fourth quarter of 2013. Revenue for the full year 2014 rose 6.5% to $1.0124 billion from $951 million for the full year 2013.

Fourth quarter 2014 non-GAAP net profit was a record $61.6 million up from $46.2 million in the corresponding quarter of 2013. Full year 2014 non-GAAP net profit rose to $173.5 million from $159.5 million in 2013.

Fourth quarter 2014 non-GAAP fully diluted earnings per share rose to a record $1.02, up 36% compared to $0.75 for the fourth quarter of 2013. Full year 2014 non-GAAP fully diluted earnings per share rose to $2.85, up 10.5% from $2.58 for the full year 2013.

NICE CEO Barak Eilam said, “I’m pleased to report a very strong finish to the year in which we reported 9% organic growth in fourth quarter revenues and a strong improvement in the operating margin that reached 25% for the fourth quarter. For the full year 2014, we achieved two major financial milestones for the company: our revenue crossed $1 billion and operating margin reached 20%. We owe these strong results to a combination of the continued growth in our analytic solutions and the successful execution of our operational plan that we put in place earlier this year. This plan is to improve the business through flawless execution to drive growth in an efficient, effective, and profitable manner.”

He added, “As we head into 2015, we believe we are well positioned to further execute on our plans. We are centered on product leadership and go-to-market expansion, we are moving products faster to the market, and profitability remains high on our agenda. We will continue to help organizations in their efforts to serve people in three critical domains: protecting people’s money, ensuring their safety and improving their experiences. Each of these domains represents a large addressable market, and, combined with our leadership position, presents a significant opportunity for us in 2015 and beyond."

NICE sees slight revenue growth in 2015. First quarter 2015 revenue is expected to be in a range of $240 million to $248 million. First quarter 2015 non-GAAP fully diluted earnings per share are expected to be in a range of $0.66 to $0.72. Full year 2015 revenue is expected to be in a range of $1.065 billion to $1.085 billion. Full year 2015 non-GAAP fully diluted earnings per share are expected to be in a range of $3.06 to $3.20.

The company also announced that CFO Dafna Gruber is stepping down for personal reasons after serving in the position since 2007.

Published by Globes [online], Israel business news - www.globes-online.com - on February 5, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

NICE Systems
NICE Systems
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018