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Third quarter revenue on a non-GAAP (generally accepted accounting principles) basis was $146.1 million, 4 percent higher than the $140.5 million recorded in the second quarter, though still 10.4 percent below the $163 million in the corresponding quarter of 2008. Analysts had expected revenue of $144.8 million.
Non-GAAP net profit for the third quarter was $24 million, up from $22.1 million in the second quarter. Like revenue, net profit was also lower than in the corresponding quarter of 2008, when it was $26.7 million. On a per-share basis, earnings per share (EPS) in the third quarter were $0.38, compared to $0.43 in the third quarter of 2008. Analysts had expected $0.37 per share.
On a GAAP basis, third quarter 2009 net profit was $7.8 million on $144.7 million revenue.
NICE CEO Zeevi Bregman said, "Our order intake continued to improve during the quarter, with book to bill ratio, on both a quarterly and yearly basis, exceeding one, resulting in the company's backlog reaching an all-time record high."
Looking ahead, Bregman said, "We are cautiously optimistic that these trends will continue to generate gradual growth for NICE in the fourth quarter and 2010."
NICE shares rose 0.3 percent to NIS 112.50 in Tel Aviv Stock Exchange (TASE) trading. The shares closed at $30.97 on Nasdaq on Friday.
To see more of the Globes or to subscribe to the newspaper, go to http://www.globes-online.com. Copyright (c) 2009, Globes, Tel Aviv, Israel Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
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