Amdocs, the software and services provider to telecommunications companies for billing, customer relationship management and operation support systems, on Wednesday reported higher revenues for its most recent quarter and the 2011 fiscal year.
For the fiscal quarter ending Sept. 30, revenues rose to $812.2 million, up 1.3 percent sequentially and 6.6 percent from last year's same quarter. Analysts were anticipating revenues of $808 million, according to Barron's. For the fiscal year, revenues climbed 3.5 percent to $3.2 billion.
Quarterly net income declined year over year from $94.7 million, or 48 cents per diluted share, to $87.4 million, or 49 cents per diluted share. But Amdoc's annual profit rose from $343.9 million, or $1.69 per diluted share, to $346.7 million, or $1.86 per diluted share.
"We concluded fiscal 2011 with strong execution, ongoing deal momentum in the emerging markets and continued progress in revitalizing our European business," said Eli Gelman, CEO of Amdocs Management Limited. "In North America, we continued to see solid demand in 2011 and further extended our market leadership with key competitive wins."
During the last quarter, Amdocs closed its acquisition of Bridgewater Systems Corp., a provider of policy management and network control solutions, in a deal valued at $211 million. Missouri-based Amdocs said the agreement would further expand its customer-experience systems portfolio, enabling telecommunications providers to offer new packages and promotions to residential and business customers.
For the first quarter of fiscal 2012, Amdocs expects revenues of $805-$825 million and diluted EPS of 49 cents to 57 cents.
Shares of Amdocs (NYSE: DOX) were trading at $29.99 as of 2:40 ET. Over the last 52 weeks, the price of the stock has ranged from a high of $32 to a low of $25.41.
During the most recent quarter, Amdocs repurchased $192 million of ordinary shares. Since resuming a buyback program in April 2010, Amdocs has repurchased $1 billion of ordinary shares or roughly 17 percent of the company's shares outstanding as of Sept. 30, Gelman said.
