NICE Reports New Highs From 4th Quarter and Fiscal Year 2006
RA’ANANA, Israel
NICE Systems, a provider of performance management and interaction analytics solutions for the enterprise and security markets, announces its results for the fourth quarter and full year ending Dec. 31, 2006.
Fourth quarter 2006 non-GAAP revenue was a record $120.4 million, representing a 33.7-percent increase from $90 million in the fourth quarter of 2005. Non-GAAP revenues for fiscal year 2006 reached a record high of $418.1 million, a 34.4-percent increase from $311.1 million in 2005.
Fourth quarter 2006 non-GAAP gross margin reached a record 64.3 percent, up from 57.7 percent in the fourth quarter 2005. Non-GAAP gross margin for the year reached a record 60.4 percent compared with 56.7 percent for the year 2005.
Fourth quarter 2006 non-GAAP operating profit totaled record $21.6 million, with operating margin of 17.9 percent, compared with $12.7 million, and 14.1 percent operating margin, in the fourth quarter of 2005. For the year, non-GAAP operating profit increased to $63.2 million from $34.9 million in 2005 and non-GAAP operating margins reached 15.1 percent, up from 11.2 percent in 2005.
Fourth quarter 2006 non-GAAP net income was a record $19.7 million, or 37 cents per fully diluted share, up from $12.3 million, or 28 cents per fully diluted share in the same quarter of 2005. Non-GAAP net income for the year was $61.1 million, or $1.17 per fully diluted share, compared with net income of $34.6 million, or 84 cents per fully diluted share for 2005.
On a GAAP basis: Fourth quarter 2006 revenue was $116.5 million, up from $90 million in the fourth quarter of 2005. Fourth quarter 2006 gross margin was $70.5 million, compared with $51.4 million in the fourth quarter of 2005; operating profit was $8.8 million, compared with operating profit of $11.7 million in the fourth quarter of 2005; and fourth quarter 2006 net income was $9.9 million, or $0.19 per fully diluted share, compared with net income of $16.1 million, or 37 cents per share, on a fully diluted basis, for the fourth quarter of 2005.
Total cash and equivalents as of Dec. 31, 2006, rose by $51.9 million during the quarter reaching to $296.1 million, with no debt, compared to $244.2 million at the end of Sept. 30, 2006.
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