Nice Q4 profit meets estimates, sees improvement in 2014

Reuters

JERUSALEM, Feb 5 (Reuters) - Israeli software provider Nice Systems reported higher quarterly profit that met estimates, and forecast up to a 9 percent rise in 2014 revenue due to continued growth for its analytics products.

Nice said on Wednesday it earned 75 cents a diluted share excluding one-time items in the fourth quarter, in line with expectations and higher than earnings per share of 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.

The company itself had predicted revenue of $260-$270 million and adjusted EPS of 72 to 77 cents.

Nice's revenue grew 6.6 percent in 2013 to $951 million and received orders of above $1 billion for the first time.

"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," said Zeevi Bregman, Nice's chief executive officer.

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.

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.

Nice declared a quarterly dividend of 16 cents a share, unchanged from the first three quarters.

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