* Q4 EPS $0.75 vs $0.75 forecast, revenue up 13 pct to $271
* Sees Q1 revenue $230-$240 mln, adj EPS $0.58-$0.63
* Sees 2014 revenue $1.01-$1.035 bln, adj EPS $2.73-$2.85
By Steven Scheer
JERUSALEM, Feb 5 Israeli software provider Nice
Systems expects revenue to expand by as much as 9
percent this year, helped by growing demand from financial firms
eager to step up security.
Nice has seen slowing growth of systems helping call centres
and surveillance of buildings and transport networks. Its
analytical tools meanwhile, which allow companies to delve into
large amounts of data to spot fraud and fend off security
threats, were growing much faster.
"The more we see regulation in the banking industry, the
more we benefit," Chief Financial Officer Dafna Gruber said
after the company delivered higher fourth quarter results in
line with expectations on Wednesday. "Our business is gradually
shifting to providing analytics-based applications."
Such products comprised more than 50 percent of Nice's
fourth-quarter sales and nearly half of 2013 revenue. Some 60
percent of its sales are in North America, largely to big
financial services firms.
Nice projects 2014 revenue of $1.01 billion to $1.035
billion and adjusted EPS of $2.73 to $2.85. It earned $2.58 in
2013, while revenue grew 6.6 percent to $951 million.
Analysts forecast EPS of $2.83 in 2014 on revenue of $1.02
billion, according to Thomson Reuters I/B/E/S.
Nice said it would buy back up to $100 million more of its
shares after a similar programme was almost completed in
January. Nice declared a quarterly dividend of 16 cents a share,
unchanged from the first three quarters.
The results came a day after Nice said Barak Eilam - the
head of its Americas business - will take over as chief
executive by the end of April. He will replace Zeevi
CFO Gruber said Nice would address boosting its dividend
payments given that it has cash of $443 million. She added that
part of the money would go towards pursuing acquisitions.
Nice's Nasdaq-listed shares were up 0.3 percent at $38.78 in
morning trade, off a year high of $42.55 on Jan. 16. But they
are down 4.5 percent so far in 2014 after rising 22.3 percent in
In the fourth quarter, Nice earned 75 cents a share
excluding one-time items, in line with expectations and up from
70 cents a year earlier.
Revenue grew 13 percent to a record $271 million, above a
Thomson Reuters I/B/E/S/ estimate of $264.5 million.
"As we enter 2014, we expect another year of profitable
growth driven by strong market demand for our products and
technology and a healthy backlog and sales pipeline," Bregman
For the first quarter, Nice sees revenue of $230-$240
million and EPS ex-items of 58 to 63 cents.
It said 2014 estimates take into account higher corporate
taxes, which will have a negative impact of 10 cents a share.