Verint Results Beat Estimates, Cuts FY Guidance; Stock Down 5%

(RTTNews) - Verint Systems Inc (VRNT) on Wednesday reported second-quarter net loss of $11.2 million or $0.18 per share compared with a loss of $12.3 million or $0.21 per share last year.

Excluding items, adjusted earnings for the quarter were $0.70 per share compared with $0.72 per share a year ago. Analysts polled by Thomson Reuters estimated earnings of $0.68 per share. Analysts' estimates typically exclude special items.

Revenues for the quarter were $295.9 million compared with $276.8 million in the prior year.

Adjusted revenues totaled $297.1 million compared with $284.7 million a year ago, while analysts estimated $289.9 million.

For the full year 2015, the company now expects adjusted earnings of $3.45 a share at the mid-point and adjusted revenues of $1.18 billion to $1.23 billion. Earlier, it expected earnings of $3.55 to $3.75 per share and revenues of $1.20 billion to $1.25 billion.

Analysts expect earnings of $3.66 per share on revenues of $1.22 billion for the year.