UPDATE: Nice Systems Posts Downbeat Q2 Profit, Shares Fall

Israel's Nice Systems

posted a weaker-than-expected second-quarter and maintained its forecast for the full year. The company's quarterly non-GAAP net income fell to $34.7 million, from $37.5 million in the year-ago period. Nice reported its quarterly earnings, excluding one-time items, of $0.57 per share, versus $0.61 per share in the year-ago period. Its revenue climbed 6.3% to $239.3 million. However, analysts were expecting earnings of $0.59 per share on revenue of $234.9 million. The company itself had expected earnings of $0.55 to $0.62 per share on revenue of $230 to $240 million. Nice maintained its 2014 outlook for adjusted earnings of $2.68 to $2.80 per share on revenue of $995 million to $1.025 billion. It also expects Q3 adjusted earnings of $0.59 to $0.67 per share on revenue of $240 to $248 million. Analysts expected earnings of $0.66 per share on revenue of $246.4 million. "I'm pleased to report revenues of $239 million for the second quarter of 2014. During the quarter, we continued to see strong demand for our analytic applications from both existing and new customers," said Barak Eilam, CEO of NICE. Nice shares fell 2.57% to $39.75 in pre-market trading.