Qognify Pte. Ltd.

NICE Systems announced results for the first quarter ended March 31, 2013.

First Quarter 2013 non-GAAP Financial Highlights Include:
- Revenues of $225 million, up 4.5% year over year
- Gross margin at 66.9%, up from 64.8% for the first quarter of 2012
- Operating margin at 19.4%, compared to 18.3% for the first quarter of 2012
- Fully diluted earnings per share increased 7% to $0.61
- Cash flow from operations of $58 million

“We are pleased to report another quarter of profitable growth at NICE and we believe we are on track to meet our annual expectations. We continue to deliver to our customers the most innovative and industry leading, next generation analytics and advanced applications,” said Zeevi Bregman, President and CEO of NICE Systems.

Bregman continued, “These innovative solutions, including our newly announced customer engagements analytics platform, which better enables our customers to operationalize Big Data, are helping companies improve business results, comply with regulations, prevent fraud, improve customer experience and enhance safety and security, all areas of growing importance for our customers. The expanding use of our solutions and the positive feedback we are receiving from our customers tells us that we are delivering great value to them, timely addressing their needs.”

Dividend Declaration
The Company also announced that its Board of Directors, at its meeting on May 7, 2013, declared a cash dividend for the first quarter of 2013 of $0.16 per share. The record date will be May 23, 2013, and the payment date will be June 6, 2013. Tax will be withheld at a rate of 15%.

Non-GAAP Financial Highlights for the First Quarter Ended March 31, 2013:

Revenues: First quarter 2013 non-GAAP total revenues were $224.7 million, up 4.5% from $215.2 million for the first quarter of 2012.

Gross Profit: First quarter 2013 non-GAAP gross profit and non-GAAP gross margin increased to150.4 million and 66.9%, respectively, from $139.5 million and 64.8%, respectively, for the first quarter of 2012.

Operating Income: First quarter 2013 non-GAAP operating income and non-GAAP operating margin increased to $43.5 million and 19.4%, respectively, from $39.3 million and 18.3%, respectively, for the first quarter of 2012.

Net Income: First quarter 2013 non-GAAP net income and non-GAAP net margin increased to $37.6 million and 16.7%, respectively, from $35.6 million and 16.6%, respectively, for the first quarter of 2012.

Fully Diluted Earnings Per Share: First quarter 2013 non-GAAP fully diluted earnings per share increased to $0.61, up 7.0% compared to $0.57 for the first quarter of 2012.

GAAP Financial Highlights for the First Quarter Ended March 31, 2013:

Revenues: First quarter 2013 total revenues increased 6.6% to $224.3 million compared to $210.4 million for the first quarter of 2012.

Gross Profit: First quarter 2013 gross profit and gross margin increased to $138.5 million and 61.7%, respectively, compared to $122.8 million and 58.4%, respectively, for the first quarter of 2012.

Operating Income: First quarter 2013 operating income and operating margin increased to $18.6 million and 8.3%, respectively, compared to $4.6 million and 2.2%, respectively, for the first quarter of 2012.

Net Income: First quarter 2013 net income and net margin increased to $17.8 million and 7.9%, respectively, compared to $7.8 million and 3.7%, respectively, for the first quarter of 2012.

Fully Diluted Earnings Per Share: Fully diluted earnings per share for the first quarter of 2013 increased to $0.29 compared to $0.12 for the first quarter of 2012.

Operating Cash Flow and Cash Balance: First quarter 2013 operating cash flow was $58 million. In the first quarter, approximately $7.7 million was used for share repurchases. As March 31, 2013, total cash and cash equivalents, short term investments and marketable securities were $501 million, with no debt.