Nice Systems, an Israeli data-recording products maker, announces its first-quarter profit climbed 23 percent from the year-ago period, and excluding certain expenses, earnings topped Wall Street estimates by a penny per share.
Net income for the quarter was $8.7 million, or 16 cents per share, up from $7.1 million, or 14 cents per share, for the first quarter 2006. Excluding certain expenses, income was $16.6 million, or 31 cents per share.
Revenue for the quarter was $115.9 million, up from $87.9 million last year. Analysts expected first-quarter earnings, on average, of 30 cents per share on $116.8 million in revenue, according to a Thomson Financial survey.
“First quarter 2007 results came in at the high-end of our guidance range, following the strong momentum we saw in 2006,” says Haim Shani, chief executive officer of NICE. “As we continue to leverage the secular growth trends in the enterprise and security markets, and after having successfully integrated five companies into NICE over the past two years, we are well positioned to further drive our company forward through organic and acquisitive growth.”
