Wednesday, April 16, 2008

Amdocs Posts Quarterly Revenue of $774 Million, Exceeding Guidance

Amdocs reported quarterly revenue of $774.3 million, an increase of 9.6% over the same period last year. The company's GAAP net income was $99.9 million, or $0.46 per diluted share, compared to GAAP net income of $87.2 million, or $0.40 per diluted share last year.

Amdocs also updated its fiscal 2008 guidance: Expected revenue of approximately $3.09-$3.15 billion and diluted non-GAAP EPS of $2.31-$2.37, excluding acquisition-related costs and approximately $0.21-$0.24 per share of equity-based compensation expense, net of related tax effects. Diluted GAAP EPS is expected to be approximately $1.81-$1.90, without taking into account potential purchase price adjustments relating to the acquisition of Jacobs Rimell in April 2008.

"We are pleased to report that we have exceeded our plans for this quarter and for the first half of fiscal 2008," said Dov Baharav, chief executive officer of Amdocs Management Limited. "Our strong results are driven by an expansion of our managed services business and by expanding our implementations of mission-critical systems in both developed and emerging markets. We recognize that there is uncertainty in the market as economic conditions have become more challenging and we believe that our forecasts for the second half of this fiscal year take this into account.