Nice Systems first-quarter profit tops estimates, raises 2016 forecast

Reuters News
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Posted: May 05, 2016 9:00 AM

TEL AVIV (Reuters) - Israeli software provider Nice Systems <NICE.TA> reported a higher than expected 17 percent rise in first-quarter net profit and raised its earnings forecast for 2016.

Nice also said on Thursday its chief financial officer, Sarit Sagiv, will leave the company in the coming months. Nice is in the process of selecting a new CFO.

Nice <NICE.O> earned 81 cents per diluted share excluding one-time items in the quarter, up from 69 cents a year earlier. Revenue grew 4.3 percent to $226.1 million.

Analysts had forecast Nice would earn 74 cents a share on revenue of $225.6 million, according to Thomson Reuters I/B/E/S.

For the second quarter, Nice expects revenue of $229-$239million and adjusted EPS of 72-78 cents.

For all of 2016, it maintained its revenue outlook of $995 million to $1.015 billion. It increased its adjusted EPS estimate to $3.41-$3.55 from a previous prediction of $3.38-3.52.

Nice is banking on analytical tools, which allow companies to delve into large amounts of data to spot fraud and fend off security threats, to deliver faster growth amid slowing sales growth of systems helping call centers and surveillance of buildings and transport networks.

Nice declared a dividend for the first quarter of 16cents a share, unchanged from the fourth quarter.

(Reporting by Tova Cohen)