NICE Systems announced results for the third quarter ended September 30, 2014.
The company declared a cash dividend for the third quarter of 2014 of $0.16 per share. The record date will be November 17th, 2014 and the payment date will be December 2nd, 2014. Tax will be withheld at a rate of 15%.
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Fully diluted earnings per share for the third quarter of 2014 were $0.44 compared to fully diluted loss per share of $0.06 for the third quarter of 2013.
Third quarter 2014 operating income and operating margin increased to $24.9 million and 10.0%, respectively, compared to $15.8 million and 6.9%, respectively in the third quarter of 2013. Net income and net margin were $26.9 million and 10.8%, respectively, compared to a loss of $3.7 million in the third quarter of 2013.
Third quarter 2014 operating cash flow was $33.8 million. $32.4 million was used for share repurchases and $9.4 million for dividends. As of September 30, 2014, total cash and cash equivalents, and short and long term investments were $449.2 million, with no debt.
Nice stated that its full year 2014 non-GAAP total revenues are expected to be in a range of $1, 003 million to $1, 018 million. Full year 2014 non-GAAP fully diluted earnings per share are expected to be in a range of $2.73 to $2.85.
The company expects fourth quarter 2014 non-GAAP total revenues to be in a range of $285 million to $300 million. Fourth quarter 2014 non-GAAP fully diluted earnings per share are expected to be in a range of $0.89 to $1.01
“We are very pleased with our strong performance for the third quarter, ” said Barak Eilam, CEO of NICE. “These results reflect the initial impact of the plan we began to execute in the second quarter of this year. This plan included a focus on improving execution, streamlining the business and increasing profitability. We have made good progress so far – organic growth accelerated and profitability improved. Additionally, analytic applications, which are at the core of our strategy, continue to perform well.
“We are in the right markets at the right time as demand around the key drivers of our business, including customer experience, compliance and regulation and security, continues to be strong from organizations worldwide. With continued robust demand for our products and a solid pipeline, we believe we are well positioned for a strong finish to the year.”