Read Larry Connors' blog – Short Term Trading Strategies
In addition, the company provided first-quarter earnings forecast, above the Street view, and said it anticipates that its two growth drivers- managed services, and cable and satellite businesses, will continue to perform well in the next year.
The company's GAAP net income for the fourth quarter was $85.8 million or $0.42 per share, compared with $82.7 million or $0.38 per share in the prior-year's fourth quarter. Net income, on a non-GAAP basis, was $109.2 million or $0.53 per share, compared with $117.2 million or $0.54 per share, in the fourth quarter of fiscal 2008.
On average, fourteen analysts polled by Thomson Reuters estimated earnings of $0.49 per share. Analysts' estimates typically exclude special items.
Total revenue for the quarter declined to $707.41 million from $825.27 million a year ago. Seventeen Wall Street analysts estimated revenues of $678.98 million.
According to the company, which provides Business Software and Services, license revenues declined to $27.26 million from $41.91 million year-ago, Service revenues declined to $680.15 million from $783.36 million in the prior year period.
Region-wise, revenue from North America declined to $528.0 million from $558.7 million year-ago, while revenue from Europe declined to $93.00 million from $150.9 million year-ago. Revenue from the Rest of World declined to $86.4 million from $825.3 million.
For the quarter under review, the total operating expenses saw a significant decline to $610.57 million from $723.81 million in the year-ago period.
Dov Baharav, chief executive officer of Amdocs Management Limited, stated that the company experienced rising interest and strong signings in managed services and that the business performed very well in cable and satellite in a tough economy. He said that the company validated its market position by establishing and expanding important relationships with leading operators.
"We expect these two growth drivers - managed services and cable and satellite - to continue to perform well and provide a strong foundation for our results again in 2010. We believe, in aggregate, our project-oriented revenue is showing early signs of stabilization; however, decision cycles remain extended and results may still vary quarter to quarter in individual product areas and geographies," he added.
Amdocs estimates GAAP earnings per share for the first quarter to be in the range of $0.38 per share - $0.44 per share and non-GAAP earnings per share of $0.51 per share - $0.55 per share, which excludes acquisition-related costs and approximately $0.04 per share - $0.05 per share of equity-based compensation expense, net of related tax effects.
The company anticipates that revenue for the first quarter will be approximately $705 million - $725 million. Wall Street analysts estimate earnings of $0.50 per share, on revenues of $675.76 million for the first quarter.
Year-to-date, the company's GAAP net income declined to $326.17 million or $1.58 per share from $378.90 million or $1.74 per share in the last year. For the full year, net income, on a non-GAAP basis, was $438.87 million or $2.12 per share, compared with $499.60 million or $2.29 per share during the comparable period a year ago. Year-to-date revenue declined to $2.86 billion from $3.16 billion in the last year.
Amdocs said that twelve-month backlog, which includes anticipated revenue related to contracts, estimated revenue from managed services contracts, letters of intent, maintenance and estimated on-going support activities, was $2.385 billion at the end of the fourth quarter of fiscal 2009.
Amdocs closed Wednesday's last trade on the New York Stock Exchange at $24.47, up $0.08 or 0.33%.
For comments and feedback: contact editorial@rttnews.com Copyright(c) 2009 RTTNews.com, Inc. All Rights Reserved
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
