Amdocs’ Q1 profit rises 19%
ST. LOUIS (AP) – Amdocs said Wednesday its fiscal first-quarter earnings rose 19 percent on a continued improvement in demand for its telecommunications software and favorable currency exchange rates.
For the quarter ended Dec. 31, the company earned $88.4 million, or 43 cents per share, compared with year-ago profit of $74.2 million, or 35 cents per share.
Excluding amortization, equity-based compensation expense and other one-time items, the company reported adjusted earnings of 55 cents per share in the most recent quarter.
Revenue fell 4 percent to $724.8 million.
Analysts polled by Thomson Reuters, who usually exclude one-time items from their estimates, forecast a profit of 53 cents per share on $715.5 million in sales.
For the fiscal second quarter ending in March, Amdocs predicted income of 40 cents to 45 cents per share on sales of $730 million to $750 million. Excluding one-time items, it predicted earnings of 52 cents to 56 cents per share.
Analysts, on average, forecast profit of 54 cents per share on sales of $725.4 million.
Amdocs shares added 2 cents to finish Wednesday's trading at $28.52.