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Verint: Fiscal 1Q Earnings Snapshot

May 29, 2019

MELVILLE, N.Y. (AP) _ Verint Systems Inc. (VRNT) on Wednesday reported fiscal first-quarter net income of $1.6 million, after reporting a loss in the same period a year earlier.

The Melville, New York-based company said it had profit of 2 cents per share. Earnings, adjusted for one-time gains and costs, came to 73 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.

The maker of software for analyzing intercepted communications posted revenue of $315.3 million in the period. Its adjusted revenue was $324.2 million, which also topped Street forecasts. Three analysts surveyed by Zacks expected $317 million.

Verint expects full-year earnings in the range of $3.60 to $3.70 per share, with revenue in the range of $1.37 billion to $1.38 billion.

Verint shares have climbed 36% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $57.46, a rise of 37% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VRNT at https://www.zacks.com/ap/VRNT

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