August 06, 2008

 

NICE Systems (News - Alert) has announced its revenues reached a record of $155.3 in the second quarter of 2008, which is up 22.2 percent year-over-year.

 

NICE officials said that the company recorded gross margins at 65.5 percent, which is $101.7 million gross profit. In comparison to the same period last year when the company recorded gross margins at 63 percent.

 

In the second quarter of 2008, the company’s Earnings per Share (EPS) reached $0.39, which is up from $0.36 from last years second quarter results. Officials said this can be attributed to a continuous “strong demand” for NICE enterprise and security solutions.

 

NICE Systems provides 'Insight from Interactions' solutions that address the needs of the enterprise and security markets. Reportedly, the company has over 24,000 customers in more than 135 countries.

 

“The demand for NICE's solutions remains strong in our two market sectors, enterprise and security, across all regions,” said Haim Shani, CEO at NICE.

 

He also said that the company continues to execute well on the strategy of leading the market with advanced applications solutions in the enterprise sector and winning large-scale deals in the security sector.

 

However, this year in the second quarter, company’s non-GAAP operating margin is 16.5 percent, which is 0.3 percent less than second quarter of last year.

 

Though, the non-GAAP operating profit reached $25.7 million, up 20.2 percent from $21.4 million in the second quarter of 2007.

 

Second quarter 2008 non-GAAP net income was $24.0 million, a 21.3 percent increase from $19.7 million in the second quarter of 2007.

 

As of June 30, 2008, total cash and equivalents were $442.4 million, with no debt, according to officials. The net income in the second quarter of 2008 was $1.5 million, while the gross margin was 62 percent, and the operating loss was $0.2 million.

 

For the third quarter of 2008, the company expects its non-GAAP revenues to be in the range of $159-$163 million. Also, the company projects its non-GAAP EPS to be in the range of $0.41-$0.45 per fully diluted share.