Verint Systems Flirts With New 52-Week Low Following Top And Bottom Line Earnings Miss

Verint Systems Inc. VRNT reported its fourth quarter results after Tuesday's market close, which nearly resulted in shares hitting a new 52-week low Wednesday morning.

Verint Systems said it earned $0.90 per share in the fourth quarter on revenue of $281.8 million. Wall Street analysts were expecting the company to earn $1.17 per share on revenue of $318.04 million.

Operating income for the fourth quarter fell to $27.204 million from $42.287 million in the same quarter a year ago, as Cyber Intelligence revenue fell to $92.3 million from $103.23 million a year ago and Video Intelligence revenue dipped to $29.02 million from $30.87 million a year ago.

Operating income for the full fiscal year fell to $67.852 million from $79.111 million, despite total revenue growing to $1.13 billion from $1.128 billion a year ago.

"Despite under performance in Security Intelligence in Q4, we believe the need for sophisticated security intelligence solutions remains strong and the emerging market headwinds are temporary. In the current year, we expect growth in Enterprise Intelligence and longer-term, as emerging markets improve, we expect Security Intelligence to return to growth as well," said Dan Bodner, CEO and President.

Shares of Verint opened for trading on Wednesday at $30.33 and quickly dipped to an intra-day low of $29.80 - just $0.04 above its 52 week lows. After nearly one hour of trading, shares of Verint erased some of its losses and were trading at $31.69 - down nearly 10 percent on the day.