Monday, January 21, 2008

Amdocs Reports Record Quarterly Revenue

Amdocs reported that for the quarter ended December 31, 2007, revenue was $742.3 million, an increase of 7.4% from last year's first quarter. Net income on a non-GAAP basis was $123.3 million, or $0.56 per diluted share (excluding acquisition-related costs, which include amortization of purchased intangible assets, and excluding equity-based compensation expense, net of related tax effects, of $27.6 million).

The company's GAAP net income was $95.7 million, or $0.44 per diluted share, compared to GAAP net income of $93.3 million, or $0.42 per diluted share, in the first quarter of fiscal 2007. Free cash flow for the quarter was $59.0 million, comprised of cash flow from operations of $93.1 million less $34.1 million in net capital expenditures and other.

"We are pleased with our results for the first quarter of fiscal 2008 and believe that we are positioned to achieve our goals for this fiscal year," said Dov Baharav, chief executive officer of Amdocs Management Limited. "This was a very good quarter in terms of new sales, highlighted by the significant expansion of our managed services activities at AT&T and our win at Sprint. We are seeing service providers continue to introduce new products and services over next-generation networks, driven by the increase in data and content activities and by industry consolidation. While we recognize that there are some macro economic indicators that cause uncertainty, we continue to see demand for Amdocs products and services and expect that we will continue to expand our business in 2008."

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