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Amdocs reports strong quarterly revenue
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Amdocs first fiscal quarter revenue of $725 million capped out the top end of its $705-$725 million guidance range. The company reported a GAAP operating income of $99 million, and diluted GAAP EPS of $0.43 for the first quarter, as compared to the $0.38-$0.44 guidance range. Record free cash flow for the first quarter was $170 million. It issued a second quarter fiscal 2010 guidance, expecting revenues in the range of $730-$750 million and diluted GAAP EPS is expected to be approximately $0.40-$0.45.
As against the previous year's first fiscal quarter, revenue decreased 3.9%. Amdocs GAAP net income for the first quarter of fiscal 2010 was $88.4 million, compared to GAAP net income of $74.2 million in the prior year's first quarter. Dov Baharav, chief executive officer of Amdocs Management Limited said the company's strong results were the result of a continued improvement in demand, strong execution, “and modestly more favorable foreign exchange rates."
Baharav said, “Given our market position and the improved demand outlook, we are guiding to sequential revenue growth again in the second fiscal quarter, and we are now internally planning for sequential revenue growth of roughly 1-2% to persist throughout fiscal 2010.”
Amdocs also announced inking two key agreements in the first quarter with AT&T and Bell Canada, and launched CES8. |
