* Q2 adj EPS $0.67 vs est $0.64
* Q2 rev $809 mln vs est $811.5 mln
* Cuts FY rev growth view to 3-4 pct from 5-6 pct earlier
* Initiates qtrly cash dividend of $0.13/shr
May 1 Customer service software maker Amdocs Ltd
cut its full-year revenue growth forecast, citing a slow
recovery in capital spending at key customer AT&T.
Amdocs, which provides the U.S. wireless operator with
customer service and billing software, expects revenue for the
year to grow 3 percent to 4 percent, down from its previous
expectation of 5 percent to 6 percent.
AT&T accounted for 29 percent of the company's overall sales
in 2011. Bell Canada and Sprint Nextel are its other key
"Our outlook for AT&T revenue has weakened for the remainder
of the fiscal year," said CEO Eli Gelman.
Amdocs, however, raised its full-year adjusted earnings per
share growth forecast to at least 12 percent to 14 percent from
its prior expectation of a growth of 11 percent to 13 percent.
The company, which supplies software and services for
business and operational support systems used by telecom
providers, also said its board had decided to initiate a
quarterly cash dividend of 13 cents per share.
Net income for the second quarter rose to $101.9 million, or
60 cents per share, from $94.1 million, or 50 cents per share, a
year ago. Excluding items, the company earned 67 cents per
share, topping analysts' expectations of 64 cents.
Revenue rose 2.5 percent to $809 million, but came in below
analysts' forecast of $811.5 million.
Shares of Amdocs, which have risen 8 percent since it
reported first-quarter earnings on Feb. 1, closed at $32.18 on
Tuesday on the New York Stock Exchange.