Verint Systems Falls on Q1 Results

released its fiscal first-quarter earnings results on Monday prior to the opening bell. The company missed Wall Street earnings per share estimates but reported revenue that came in slightly above consensus. In late trading, VRNT was down around 4 percent to $32.70. The company reported a first-quarter net loss of $9.3 million or $0.18 per share, compared to net income of $6.3 million or $0.16 per share, in last year's corresponding period. On an adjusted basis, Verint reported net income of $23.2 million or $0.44 per share, versus $23.0 million or $0.53 per share, in last year's corresponding period. This missed Wall Street analysts' consensus EPS estimates of $0.52. Sales in the quarter were $204.79 million versus the $196.64 million the company reported last year. This came in slightly ahead of consensus estimates calling for revenue of $203.34 million in the first-quarter. For the fiscal year, Verint guided for non-GAAP earnings per share of $2.75, plus or minus 5 cents. Revenue is expected to grow by 6 percent to 7 percent for the year. Currently, Wall Street is modeling EPS of $2.76 on revenue of $901.92 million for the fiscal year.