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Nice Systems reports fourth quarter and full year results for 2009 |
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NICE Systems, has announced results for the fourth quarter and full year ending December 31, 2009. The company provides advanced solutions that enable enterprises and security organizations to extract Insight from Interactions, transactions and surveillance to drive business performance, reduce risk and ensure safety.  Nice reported fourth quarter revenues of $158.8 million, up 9.8% from $144.7 million in the third quarter of 2009 but 2.6% down from $163.1 million during the fourth quarter of 2008. GAAP revenues for the year were $583.1 million, 6.6% down from $62 4 . 2 million in 2008. Gross Profit reported for the quarter was $93.7 million, or 9.7%, up from $85.4 million during the third quarter of the year, even though compared to $101.7 million, or 7.9% it was down from the fourth quarter of 2008. Gross profit for the year 2009 was $345.9, or 59.3% gross margin, compared to $385.4 million, or 61.7% gross margin in 2008. Operating Income during the fourth quarter increased to $11 million, or 6.9% operating margin, up from $4.8 million, or 3.3% in the third quarter of 2009. In the fourth quarter of the previous year, it was $15.8 million, or 9.7%. Operating income for the year 2009 was $38.2 million, or 6.6% operating margin on an annual basis, up from $37.4, or 6.0% operating margin in 2008. Net Income during the quarter increased to $12.7 million from $7.8 million in the third quarter 2008, and compared to $18.7 million in the fourth quarter 2008. Net income for the year increased to $42.8 million, up from $39.1 million in 2008. Earnings per fully diluted share in the fourth quarter were $0.20, compared to $0.12 per share for the third quarter of 2009 and $0.31 in the fourth quarter 2008. Earnings per share on a fully diluted basis, for the year 2009 increased to $0.68 from $0.64 in 2008. Fourth quarter 2009 operating cash flow was $29.4 million. 2009 operating cash flow was $119.7 million. Total cash and equivalents as of December 31, 2009 were $548.5 million, with no debt. Zeevi Bregman, President and CEO of NICE Systems said Q4 of 2009 set new records on many levels, including bookings, backlog, non-GAAP operating profit and margins, all of which reached all-time highs. “We are also very pleased with the smooth integration of the four acquisitions announced in 2009 and the market traction they are generating,” he said, adding that the company's key growth engines including analytics based business applications, solutions for financial crime prevention and advanced security solutions recorded accelerated growth in 2009. |
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