NICE Reports Profitable Year

RA’ANANA, Israel

NICE Systems saw nice profits in 2003 as it released
earning figures for 2003 that showed it has recovered from
a steep loss in 2002. The provider of multimedia recording
solutions, including video surveillance, earned a record
$7.1 million in 2003 after a $34 million loss in 2002.

Spurring the profits was a 31-percent increase in revenue – up to $224.3 million in 2003 compared with $155.3 million in 2002. “2003 has been a year of significant achievement,” says Haim Shani, president and CEO of NICE.

NICE also reported its fourth quarter numbers Jan. 4, showing a $1.9 million profit compared to a $33.3 million loss in the fourth quarter of 2002. The company brought in revenue of $61.7 million in the fourth quarter – a 10-percent increase over the year before.

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