Nice Systems beats analysts, raises guidance

Barak Eilam  credit: Shlomi Yosef

First quarter non-GAAP EPS were up 14.9% at $1.54, $0.05 ahead of the consensus analysts' estimate.

Data analytics software company NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) reported a 10.9% rise in first quarter revenue to $455.0 million today, compared with $410.40 million for the first quarter of 2020. On a GAAP basis, net profit for the first quarter was $52.2 million, up from $46.1 million in the first quarter of 2020.

On a non-GAAP basis, Nice Systems posted a net profit for the first quarter of $102.8 million, up from $87.9 million for the first quarter of 2020. Non-GAAP earnings per share were up 14.9% at $1.54, compared with $1.34 for the first quarter of 2020. This is $0.05 ahead of the analysts' estimate of $1.49.

For the second quarter, Nice Systems expects revenue to be $445 million to $455 million, and non-GAAP earnings per share to be in a range of $1.45 to $1.55.

The company has raised its full year revenue guidance to a range of $1,800 million to $1,820 million from $1,790 million to $1,810 million in its previous guidance. Full year non-GAAP earnings per share are expected to be in a range of $6.19 to $6.39, which compares with previous guidance of $6.12 to $6.32. The current consensus analysts' estimate is for earnings per share of $6.23 in 2021.

Nice Systems CEO Barak Eilam said, "We are pleased to begin 2021 on a high note as we reported very strong first quarter results across the board, including double-digit growth in both total revenue and earnings per share. Driving this outstanding performance is our continued robust growth in cloud, as we are witnessing further rapid penetration of CXone in all market segments, especially in very large enterprises, a segment of the market in which we are clearly differentiated from a competitive standpoint."

Nice Systems share price closed 0.41% higher in Tel Aviv today. In New York, the stock is currently up 1.22% at $224.74, giving the company a market cap of $14.52 billion.

Published by Globes, Israel business news - en.globes.co.il - on May 13, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Barak Eilam  credit: Shlomi Yosef
Barak Eilam credit: Shlomi Yosef
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