NICE Systems Ltd. (Nasdaq: NICE; TASE: NICE) today raised its full-year revenue and profit guidance after reporting record revenue for the second quarter of 2011. The company met the analysts' earnings per share consensus and beat their revenue consensus of $194.3 million.
NICE's revenue rose 16% to $196.7 million for the second quarter from $169.5 million for the corresponding quarter of 2010.
GAAP-based net profit rose 8% to $15.5 million ($0.24 per share) for the second quarter from $12.7 million for the corresponding quarter. Non-GAAP net profit rose 16.4% to $32.3 million ($0.50 per share) for the second quarter from $26.5 million for the corresponding quarter.
NICE raised its full-year revenue guidance to $785-805 million and its earnings-per share guidance to $2.00-2.08. It expects $0.50-0.54 earnings per share on $197-203 million revenue for the third quarter.
Cash flow from operations was $27.7 million, bringing NICE's total cash and equivalents to $658.5 million at the end of June, after buying back $28.8 million worth of shares during the second quarter. The company has no debt.
NICE president and CEO Zeevi Bregman said, "We continue to benefit from the trends that fuel NICE's growth, including: the increased number of interactions between organizations and their customers through various communication channels, persistent security threats to people and assets, continuous financial crime attempts, as well as a growing focus on compliance with regulations. We believe that NICE is at the pole position to take advantage of these trends.
NICE's share price fell 0.5% on Nasdaq yesterday to $37.07, giving a market cap of $2.36 billion, but rose 0.2% on the TASE today before trading was suspended ahead of the announcement to NIS 127.50.
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