Verint Systems (VRNT) Tops Q2 EPS by 14c; Announces the Passing of Its Chairman

Verint Systems (NASDAQ: VRNT) reported Q2 EPS of $0.61, $0.14 better than the analyst estimate of $0.47. Revenue for the quarter came in at $278.2 million versus the consensus estimate of $270.1 million.

Verint's non-GAAP outlook for the year ending January 31, 2018 is as follows:

• Maintain Revenue Outlook:
  • In our Customer Engagement segment, we expect mid-single digit revenue growth.
  • In our Cyber Intelligence segment, we expect high-single digit revenue growth.
• Increase EPS outlook: Based on the above, we expect total revenue of $1.14 billion with a range of +/- 2% and diluted earnings per share of $2.75 at the midpoint.

Our non-GAAP outlook for the year ending January 31, 2018 excludes the following GAAP measures which we are able to quantify with reasonable certainty:

• Amortization of intangible assets of approximately $71 million.
• Amortization of discount on convertible notes of approximately $11 million.

Our non-GAAP outlook for the year ending January 31, 2018 excludes the following GAAP measures for which we are able to provide a range of probable significance:

• Revenue adjustments related to completed acquisitions are expected to be between approximately $12 million and $14 million for the year ending January 31, 2018.
• Stock-based compensation is expected to be between approximately $65 million and $70 million for the year ending January 31, 2018, assuming market prices for our common stock approximately consistent with current levels.

Verint® Systems Inc.(Nasdaq: VRNT) today shares with great sadness the passing of Victor DeMarines, its Chairman of the Board of Directors, on August 30, 2017. That day, the Board unanimously appointed President, Chief Executive Officer and current Director Dan Bodner as Chairman of the Board.

Bodner says, “Vic joined our Board just before our IPO in 2002 and became Chairman in 2013. He was a tireless supporter of Verint through many important stages of our journey, and we will miss his leadership and guidance.” He adds, “In my role as Chairman, I will continue to focus on Verint’s growth strategy and on creating value for our shareholders.”

The Board also appointed John Egan—who has served on the company’s Board of Directors since 2012 and is currently Chairman of the Corporate Governance and Nominating Committee of the Board—to serve as Lead Independent Director, also effective August 30, 2017.

For earnings history and earnings-related data on Verint Systems (VRNT) click here.

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