Second Quarter 2013 non-GAAP Financial Highlights Include:
- Revenues of $225 million, up 4% year over year
- Gross margin at 66.9%, up from 66.1% for the second quarter of 2012
- Operating margin at 19.4%, up from 18.8% for the second quarter of 2012
- Fully diluted earnings per share increased 7% year over year to $0.61
- Cash flow from operations of $35 million
Nice Systems announced results for the second quarter ended June 30, 2013.
Second Quarter 2013 non-GAAP Financial Highlights Include:
- Revenues of $225 million, up 4% year over year
- Gross margin at 66.9%, up from 66.1% for the second quarter of 2012
- Operating margin at 19.4%, up from 18.8% for the second quarter of 2012
- Fully diluted earnings per share increased 7% year over year to $0.61
- Cash flow from operations of $35 million
“We reported solid results for the second quarter, which was marked by strong new bookings growth in our analytic-based advanced applications. As a result, we believe we are well positioned for a strong second half of the year,” said Zeevi Bregman, President and CEO of Nice Systems. “The bookings growth of our advanced application is the result of the increasing demand from our customers to operationalize Big Data to help them ensure compliance, enhance operational efficiency, increase revenues, improve the customer experience and safeguard people and assets. We continue to focus on innovation to further expand and enhance our Big Data platform and analytics and our portfolio of advanced applications so that we can continue to deliver great value to our customers. The acquisition of Causata announced earlier today further solidifies our strategy.”
Dividend Declaration In continuation of its previously announced dividend plan, the company announced that its Board of Directors, at its meeting on August 6, 2013, declared a cash dividend for the second quarter of 2013 of $0.16 per share. The record date will be August 22, 2013, and the payment date will be September 9, 2013. Tax will be withheld at a rate of 15%.
Non-GAAP Financial Highlights for the Second Quarter Ended June 30, 2013:
Revenues: Second quarter 2013 non-GAAP total revenues were $225.2 million, up 4% from $216.7 million for the second quarter of 2012.
Gross Profit:Second quarter 2013 non-GAAP gross profit and non-GAAP gross margin increased to $150.6 million and 66.9%, respectively, from $143.3 million and 66.1%, respectively, for the second quarter of 2012.
Operating Income: Second quarter 2013 non-GAAP operating income and non-GAAP operating margin increased to $43.8 million and 19.4%, respectively, from $40.8 million and 18.8%, respectively, for the second quarter of 2012.
Net Income: Second quarter 2013 non-GAAP net income and non-GAAP net margin increased to $37.5 million and 16.7%, respectively, from $35.7 million and 16.5%, respectively, for the second quarter of 2012.
Fully Diluted Earnings Per Share: Second quarter 2013 non-GAAP fully diluted earnings per share increased to $0.61, up 7% compared to $0.57 for the second quarter of 2012.
GAAP Financial Highlights for the Second Quarter Ended June 30, 2013:
Revenues: Second quarter 2013 total revenues increased 6% to $224.9 million compared to $212.1 million for the second quarter of 2012.
Gross Profit: Second quarter 2013 gross profit and gross margin increased to $138.9 million and 61.8%, respectively, compared to $125.5 million and 59.2%, respectively, for the second quarter of 2012.
Operating Income: Second quarter 2013 operating income and operating margin increased to $19.3 million and 8.6%, respectively, compared to $9.0 million and 4.3%, respectively, for the second quarter of 2012.
Net Income: Second quarter 2013 net income and net margin increased to $17.0 million and 7.5%, respectively, compared to $11.2 million and 5.3%, respectively, for the second quarter of 2012.
Fully Diluted Earnings Per Share: Fully diluted earnings per share for the second quarter of 2013 increased to $0.27 compared to $0.18 for the second quarter of 2012.
Operating Cash Flow and Cash Balance: Second quarter 2013 operating cash flow was $35 million. In the second quarter, approximately $15.3 million was used for share repurchases. As of June 30, 2013, total cash and cash equivalents, short term investments and marketable securities were $503 million, with no debt.
Third Quarter and Full Year 2013 Guidance:
Third Quarter 2013: Third quarter 2013 non-GAAP total revenues are expected to be in a range of $225 million to $240 million. Third quarter 2013 non-GAAP fully diluted earnings per share are expected to be in a range of $0.56 to $0.66.
Full Year 2013: Full year 2013 non-GAAP total revenues are expected to be in a range of $940 million to $970 million. Full year 2013 non-GAAP fully diluted earnings per share are expected to be in a range of $2.55 to $2.65.