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Nice Ltd. Earnings Release 2016
6950_rns_2016-07-28_70d770c2-e43a-4c23-9aa9-858f4785490d.pdf
Earnings Release
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SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of July 2016 (Report No. 2)
Commission File Number: 0-27466
NICE-SYSTEMS LTD. (Translation of Registrant's Name into English)
13 Zarchin Street, P.O. Box 4122, Ra'anana 4310602, Israel (Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
THE GAAP FINANCIAL STATEMENTS ATTACHED TO THE PRESS RELEASE ATTACHED HERETO AS EXHIBIT 99.1 OF THIS REPORT ON FORM 6-K ARE HEREBY INCORPORATED BY REFERENCE INTO NICE-SYSTEMS LTD.`S ("NICE") REGISTRATION STATEMENTS ON FORM S-8 (REGISTRATION STATEMENT NOS. 333-06784, 333-08146, 333- 11842, 333-09350, 333-11154, 333-111112, 333-111113, 333-134355, 333-144589, 333-145981, 333-153230, 333-162110, 333- 162795, 333-166364, 333-168100, 333-171165, 333-179408, 333-181375, 333-191176, 333-199904, 333-210341, 333-210343 and 333-210344), AND TO BE A PART THEREOF FROM THE DATE ON WHICH THIS REPORT IS SUBMITTED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.
CONTENTS
This Report on Form 6-K of NICE consists of the following documents, which are attached hereto and incorporated by reference herein:
99.1 Press Release: Analytics Drive NICE Second Quarter 2016 Growth, Dated July 28, 2016
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
NICE-SYSTEMS LTD.
By: /s/ Yechiam Cohen Name: Yechiam Cohen Title: Corporate VP Finance
Dated July 28, 2016
EXHIBIT INDEX
99.1 Press Release: Analytics Drive NICE Second Quarter 2016 Growth, Dated July 28, 2016
Analytics Drive NICE Second Quarter 2016 Growth
Company Raises Full-Year 2016 Non-GAAP EPS Guidance
Paramus, New Jersey, July 28, 2016 - NICE (NASDAQ: NICE) today announced results for the second quarter ended June 30, 2016.
Second Quarter 2016 Financial Highlights
| GAAP | Non-GAAP |
|---|---|
| Revenue growth of 6% year-over-year |
Revenue growth of 9% year-over-year |
| Gross margin of 63.9% compared to 65.8% last year | Gross margin of 70.4% compared to 69.2% last year |
| Operating profit of \$24 million, down 25% year-over-year | Operating profit of \$57 million, up 18% year-over-year |
| Operating margin of 10.3% compared to 14.5% last year | Operating margin of 24.0% compared to 22.3% last year |
| Diluted EPS of \$0.42, same as last year |
Diluted EPS of \$0.79 versus \$0.64 last year, 23% growth |
"We are pleased to report another strong performance for the second quarter of 2016," said Barak Eilam, CEO. "We reported non-GAAP revenues of \$235 million, which represented an increase of 9% compared to the second quarter of last year. Excluding the impact of currency exchange rates, non-GAAP revenue growth was double digit at 10% percent. Revenue growth combined with operational excellence led to another quarter of significant growth in non-GAAP earnings per share. Non-GAAP earnings per share for the second quarter of 2016 increased 23% compared to the same period last year."
Mr. Eilam continued, "We witnessed a significant acceleration in both analytics and the cloud. Our analytics solutions continue to be the driver of overall growth as an increasing number of our customers, both existing and new, are rapidly applying our analytics to a greater amount of use cases. In addition since the announcement of the acquisition of inContact, the cloud contact center market leader, we have received very positive feedback from customers and partners. We are seeing acceleration in the number of customer service organizations moving toward the cloud and the combined NICE and inContact is well positioned to take the lead on this market shift."
Dividend Declaration
The Company declared a cash dividend for the second quarter of 2016 of \$0.16 per share. The record date will be August 15th, 2016 and the payment date will be August 31st, 2016. Tax will be withheld at a rate of 15%.
GAAP Financial Highlights for the Second Quarter Ended June 30:
The following GAAP financial data, excluding cash flow and cash balance, are from continuing operations, which exclude the results of the Intelligence and the Physical Security divisions for both 2016 and 2015.
Revenues: Second quarter 2016 total revenues increased 6.0% to \$228.5 million compared to \$215.7 million for the second quarter of 2015.
Gross Profit: Second quarter 2016 gross profit and gross margin were \$146.1 million and 63.9%, respectively, compared to \$141.8 million and 65.8%, respectively, for the second quarter of 2015.
Operating Income: Second quarter 2016 operating income and operating margin were \$23.5 million and 10.3%, respectively, compared to \$31.4 million and 14.5%, respectively, for the second quarter of 2015.
Net Income from Continuing Operations: Second quarter 2016 net income and net margin were \$25.4 million and 11.1%, respectively, compared to \$25.7 million and 11.9%, respectively, for the second quarter of 2015.
Fully Diluted Earnings Per Share from Continuing Operations: Fully diluted earnings per share for the second quarter of 2016 was \$0.42, same as in the second quarter of 2015.
Operating Cash Flow and Cash Balance: Second quarter 2016 operating cash flow was \$30.3 million. In the second quarter, \$9.4 million was used for share repurchases and \$9.5 million for dividends. As of June 30, 2016, total cash and cash equivalents, short term investments and marketable securities were \$775.6 million, with no debt.
Non-GAAP Financial Highlights for the Second Quarter Ended June 30:
The following non-GAAP financial data are from continuing operations, which exclude the results of the Intelligence and the Physical Security divisions for both 2016 and 2015.
Revenues: Second quarter 2016 non-GAAP total revenues were \$235.4 million, up 9.1% from \$215.7 million for the second quarter of 2015.
Gross Profit: Second quarter 2016 non-GAAP gross profit and non-GAAP gross margin increased to \$165.8 million and 70.4%, respectively, from \$149.3 million and 69.2%, respectively, for the second quarter of 2015.
Operating Income: Second quarter 2016 non-GAAP operating income and non-GAAP operating margin increased to \$56.6 million and 24.0%, respectively, from \$48.1 million and 22.3%, respectively, for the second quarter of 2015.
Net Income from Continuing Operations: Second quarter 2016 non-GAAP net income and non-GAAP net margin increased to \$47.9 million and 20.4%, respectively, from \$39.5 million and 18.3%, respectively, for the second quarter of 2015.
Fully Diluted Earnings Per Share from Continuing Operations: Second quarter 2016 non-GAAP fully diluted earnings per share increased 23.4% to \$0.79, compared to \$0.64 for the second quarter of 2015.
Third Quarter and Full Year 2016 Guidance:
Third Quarter 2016: Third quarter 2016 non-GAAP total revenues are expected to be in a range of \$234 million to \$244 million. Third quarter 2016 non-GAAP fully diluted earnings per share are expected to be in a range of \$0.78 to \$0.84.
Full Year 2016: Full year 2016 non-GAAP total revenues were reiterated to be in a range of \$995 million to \$1,015 million. The Company increased its full year 2016 non-GAAP fully diluted earnings per share to be in a range of \$3.48 to \$3.58.
Quarterly Results Conference Call
NICE management will host its earnings conference call today, July 28th, 2016 at 8:30 AM EDT, 13:30 GMT, 15:30 Israel, to discuss the results and the company's outlook. To participate in the call, please dial in to the following numbers: United States 1-866-804-8688 or +1-718-354-1175, International +44(0)1296-480-100, United Kingdom 0- 800-783-0906, Israel 1-809-242-041. The Passcode is 431 812 26. Additional access numbers can be found at http://www.btconferencing.com/globalaccess/?bid=54_attended. The call will be webcast live on the Company's website at http://www.nice.com/news-and-events/ir-events. An online replay will also be available approximately two hours following the call. A telephone replay of the call will be available for 7 days after the live broadcast, and may be accessed by dialing: United States 1-877-482-6144, International +44(0)20-7136-9233, United Kingdom 0-800-032- 9687. The Passcode for the replay is 111 439 27.
Non-GAAP financial measures consist of GAAP financial measures adjusted to exclude: amortization of acquired intangible assets, re-organization expenses, share-based compensation, and certain business combination accounting entries, settlement, and tax adjustment re non-GAAP adjustments. The purpose of such adjustments is to give an indication of our performance exclusive of non-cash charges and other items that are considered by management to be outside of our core operating results. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Business
combination accounting rules requires us to recognize a legal performance obligation related to a revenue arrangement of an acquired entity. The amount assigned to that liability should be based on its fair value at the date of acquisition. The non-GAAP adjustment is intended to reflect the full amount of such revenue. We believe this adjustment is useful to investors as a measure of the ongoing performance of our business. We believe these non-GAAP financial measures provide consistent and comparable measures to help investors understand our current and future operating cash flow performance. These non-GAAP financial measures may differ materially from the non-GAAP financial measures used by other companies. Reconciliation between results on a GAAP and non-GAAP basis is provided in a table immediately following the Consolidated Statements of Income.
About NICE
NICE Systems (NASDAQ: NICE) is the worldwide leading provider of software solutions that enable organizations to take the next best action in order to improve customer experience and business results, ensure compliance, fight financial crime, and safeguard people and assets. NICE's solutions empower organizations to capture, analyze, and apply, in real time, insights from both structured and unstructured Big Data. This data comes from multiple sources, including phone calls, mobile apps, emails, chat, social media, video, and transactions. NICE solutions are used by over 25,000 organizations in more than 150 countries, including over 80 of the Fortune 100 companies. www.nice.com.
Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE. All other marks are trademarks of their respective owners. For a full list of NICE' marks, please see: http://www.nice.com/nice-trademarks.
Investors
Marty Cohen, +1 212 574 3635, [email protected], ET Yisca Erez, +972 9 775-3798, [email protected], CET
Media Contact Erik Snider, +1 877 245 7448, [email protected]
Forward-Looking Statements
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Eilam, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the Company). In some cases, such forwardlooking statements can be identified by terms such as believe, expect, may, will, intend, project, plan, estimate or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of the global economic environment on the Company's customer base (particularly financial services firms) potentially impacting our business and financial condition; competition; changes in technology and market requirements; decline in demand for the Company's products; inability to timely develop and introduce new technologies, products and applications; difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; an inability to maintain certain marketing and distribution arrangements; and the effect of newly enacted or modified laws, regulation or standards on the Company and our products. For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company's reports filed from time to time with the Securities and Exchange Commission, including the Company's Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.
NICE LTD. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME
U.S. dollars in thousands (except per share amounts)
| Quarter ended June 30, |
Year to date June 30, |
|||||||
|---|---|---|---|---|---|---|---|---|
| 2016 Unaudited |
2015 Unaudited |
2016 Unaudited |
2015 Unaudited |
|||||
| Revenue: | ||||||||
| Product | \$ | 61,544 | \$ | 66,637 | \$ 126,660 | \$139,555 | ||
| Services | 166,984 | 149,023 | 327,835 | 292,669 | ||||
| Total revenue | 228,528 | 215,660 | 454,495 | 432,224 | ||||
| Cost of revenue: | ||||||||
| Product | 14,237 | 15,096 | 27,971 | 31,511 | ||||
| Services | 68,201 | 58,734 | 128,936 | 115,450 | ||||
| Total cost of revenue | 82,438 | 73,830 | 156,907 | 146,961 | ||||
| Gross profit | 146,090 | 141,830 | 297,588 | 285,263 | ||||
| Operating Expenses: | ||||||||
| Research and development, net | 34,519 | 30,413 | 67,040 | 60,558 | ||||
| Selling and marketing | 58,705 | 54,883 | 114,488 | 110,297 | ||||
| General and administrative | 24,579 | 21,746 | 47,771 | 42,956 | ||||
| Amortization of acquired intangible assets | 4,750 | 3,423 | 7,257 | 6,877 | ||||
| Total operating expenses | 122,553 | 110,465 | 236,556 | 220,688 | ||||
| Operating income | 23,537 | 31,365 | 61,032 | 64,575 | ||||
| Finance and other income, net | 2,933 | 673 | 6,697 | 2,610 | ||||
| Income from continuing operations before tax | 26,470 | 32,038 | 67,729 | 67,185 | ||||
| Taxes on income (tax benefit) | 1,090 | 6,379 | 7,093 | 12,944 | ||||
| Net income from continuing operations | 25,380 | 25,659 | 60,636 | 54,241 | ||||
| Discontinued operations | ||||||||
| Gain on disposal and income (loss) from operations of discontinued operations | - | 4,590 | (116) | 5,508 | ||||
| Taxes on income | - | 992 | - | 1,255 | ||||
| Net income (loss) from discontinued operations | - | 3,598 | (116) | 4,253 | ||||
| Net income | \$ | 25,380 | \$ | 29,257 | \$ 60,520 | \$ 58,494 | ||
| Basic earnings per share from continuing operations | \$ | 0.43 | \$ | 0.43 | \$ | 1.02 | \$ 0.91 |
|
| Basic earnings (loss) per share from discontinued operations | \$ | - | \$ | 0.06 | \$ | (0.00) | \$ 0.07 |
|
| Basic earnings per share | \$ | 0.43 | \$ | 0.49 | \$ | 1.02 | \$ 0.98 |
|
| Diluted earnings per share from continuing operations | \$ | 0.42 | \$ | 0.42 | \$ | 1.00 | \$ 0.88 |
|
| Diluted earnings (loss) per share from discontinued operations | \$ | - | \$ | 0.06 | \$ | (0.00) | \$ 0.07 |
|
| Diluted earnings per share | \$ | 0.42 | \$ | 0.48 | \$ | 1.00 | \$ 0.95 |
|
| Weighted average number of shares | ||||||||
| outstanding used to compute: | ||||||||
| Basic earnings (loss) per share | 59,490 | 59,510 | 59,461 | 59,441 | ||||
| Diluted earnings (loss) per share | 60,817 | 61,408 | 60,834 | 61,306 | ||||
NICE LTD. AND SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP RESULTS
U.S. dollars in thousands (except per share amounts)
| Quarter ended June 30, |
Year to date June 30, |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2016 | 2015 | 2016 | 2015 | |||||||
| GAAP revenues | \$ | 228,528 | \$ | 215,660 | \$ | 454,495 | \$ | 432,224 | ||
| Valuation adjustment on acquired deferred product revenue | 1,291 | - | 1,375 | - | ||||||
| Valuation adjustment on acquired deferred service revenue | 5,593 | 54 | 5,650 | 177 | ||||||
| Non-GAAP revenues | \$ | 235,412 | \$ | 215,714 | \$ | 461,520 | \$ | 432,401 | ||
| GAAP cost of revenue | \$ | 82,438 | \$ | 73,830 | \$ | 156,907 | \$ | 146,961 | ||
| Amortization of acquired intangible assets on cost of product | (7,590) | (6,839) | (13,882) | (13,663) | ||||||
| Amortization of acquired intangible assets on cost of services | (3,472) | - | (3,472) | - | ||||||
| Cost of product revenue adjustment (1) | (69) | (138) | (190) | (271) | ||||||
| Cost of services revenue adjustment (1,2) | (1,727) | (450) | (3,331) | (1,249) | ||||||
| Non-GAAP cost of revenue | \$ | 69,580 | \$ | 66,403 | \$ | 136,032 | \$ | 131,778 | ||
| GAAP gross profit | \$ | 146,090 | \$ | 141,830 | \$ | 297,588 | \$ | 285,263 | ||
| Gross profit adjustments | 19,742 | 7,481 | 27,900 | 15,360 | ||||||
| Non-GAAP gross profit | \$ | 165,832 | \$ | 149,311 | \$ | 325,488 | \$ | 300,623 | ||
| GAAP operating expenses Research and development (1,2,3) |
\$ | 122,553 (1,097) |
\$ | 110,465 (319) |
\$ | 236,556 (3,078) |
\$ | 220,688 (816) |
||
| Sales and marketing (1,2,3) | (3,724) | (2,379) | (7,070) | (5,004) | ||||||
| General and administrative (1,2,3) | (3,743) | (2,745) | (8,093) | (5,567) | ||||||
| Amortization of acquired intangible assets | (4,750) | (3,423) | (7,257) | (6,877) | ||||||
| Settlement and related expenses | - | (390) | - | (390) | ||||||
| Non-GAAP operating expenses | \$ | 109,239 | \$ | 101,209 | \$ | 211,058 | \$ | 202,034 | ||
| GAAP taxes on income | \$ | 1,090 | \$ | 6,379 | \$ | 7,093 | \$ | 12,944 | ||
| Tax adjustments re non-GAAP adjustments | 10,516 | 2,888 | 16,525 | 6,408 | ||||||
| Non-GAAP taxes on income | \$ | 11,606 | \$ | 9,267 | \$ | 23,618 | \$ | 19,352 | ||
| GAAP net income (loss) from continuing operations | \$ | 25,380 | \$ | 25,659 | \$ | 60,636 | \$ | 54,241 | ||
| Valuation adjustment on acquired deferred revenue | 6,884 | 54 | 7,025 | 177 | ||||||
| Amortization of acquired intangible assets | 15,812 | 10,262 | 24,611 | 20,540 | ||||||
| Share-based compensation (1) | 9,896 | 6,031 | 16,256 | 12,907 | ||||||
| Re-organization expenses (2) | 464 | - | 1,770 | - | ||||||
| Acquisition related expenses (3) | - | - | 3,736 | - | ||||||
| Settlement and related expenses | - | 390 | - | 390 | ||||||
| Tax adjustments re non-GAAP adjustments | (10,516) | (2,888) | (16,525) | (6,408) | ||||||
| Non-GAAP net income (loss) from continuing operations | \$ | 47,920 | \$ | 39,508 | \$ | 97,509 | \$ | 81,847 | ||
| GAAP diluted earnings (loss) per share from continuing operations | \$ | 0.42 | \$ | 0.42 | \$ | 1.00 | \$ | 0.88 | ||
| Non-GAAP diluted earnings per share from continuing operations | \$ | 0.79 | \$ | 0.64 | \$ | 1.60 | \$ | 1.34 | ||
| Shares used in computing GAAP diluted earnings (loss) per share | 60,817 | 61,408 | 60,834 | 61,306 | ||||||
| Shares used in computing Non-GAAP diluted earnings per share | 60,817 | 61,408 | 60,834 | 61,306 |
NICE LTD. AND SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP RESULTS (continued)
U.S. dollars in thousands
(1) Share-based Compensation
| Quarter ended June 30, |
Year to date June 30, |
||||||||
|---|---|---|---|---|---|---|---|---|---|
| Cost of product revenue | 2016 2015 |
2016 | 2015 | ||||||
| \$ (69) |
\$ | (138) | \$ | (190) | \$ | (271) | |||
| Cost of service revenue | (1,680) | (450) | (3,086) | (1,249) | |||||
| Research and development | (1,302) | (319) | (2,158) | (816) | |||||
| Sales and marketing | (3,574) | (2,379) | (6,433) | (5,004) | |||||
| General and administrative | (3,271) | (2,745) | (4,389) | (5,567) | |||||
| \$ (9,896) |
\$ | (6,031) | \$ | (16,256) | \$ | (12,907) |
(2) Re-organization expenses
| Quarter ended June 30, |
Year to date June 30, |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2016 | 2015 | 2016 | 2015 | |||||||
| Cost of service revenue | \$ (47) |
\$ | - | \$ | (245) | \$ | - | |||
| Research and development | 205 | - | (896) | - | ||||||
| Sales and marketing | (150) | - | (150) | - | ||||||
| General and administrative | (472) | - | (479) | - | ||||||
| \$ (464) |
\$ | - | \$ | (1,770) | \$ | - |
(3) Acquisition related expenses
| Quarter ended | Year to date | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| June 30, | June 30, | |||||||||
| 2016 | 2015 | 2016 | 2015 | |||||||
| Research and development | \$ | - | \$ | - | \$ | (24) | \$ | - | ||
| Sales and marketing | - | - | (487) | - | ||||||
| General and administrative | - | - | (3,225) | - | ||||||
| \$ | - | \$ | - | \$ | (3,736) | \$ | - |
*Certain comparative figures have been reclassified to conform to the current year presentation.
NICE LTD. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS
U.S. dollars in thousands
| June 30, 2016 |
December 31, 2015 |
||||
|---|---|---|---|---|---|
| Unaudited | Unaudited | ||||
| ASSETS | |||||
| CURRENT ASSETS: | |||||
| Cash and cash equivalents | \$ | 301,007 | \$ | 325,931 | |
| Short-term investments | 88,521 | 99,195 | |||
| Trade receivables | 136,813 | 177,323 | |||
| Prepaid expenses and other current assets | 58,876 | 43,561 | |||
| Current assets of discontinued operations | 2,073 | 9,142 | |||
| Total current assets | 587,290 | 655,152 | |||
| LONG-TERM ASSETS: | |||||
| Long-term investments | 386,115 | 403,249 | |||
| Other long-term assets | 16,843 | 17,175 | |||
| Property and equipment, net | 44,515 | 39,213 | |||
| Deferred tax assets | 16,490 | 14,130 | |||
| Other intangible assets, net | 119,295 | 69,582 | |||
| Goodwill | 734,074 | 651,112 | |||
| Long-term assets of discontinued operations | - | - | |||
| Total long-term assets | 1,317,332 | 1,194,461 | |||
| TOTAL ASSETS | \$ | 1,904,622 | \$ | 1,849,613 | |
| LIABILITIES AND SHAREHOLDERS' EQUITY | |||||
| CURRENT LIABILITIES: | |||||
| Trade payables | \$ | 19,337 | \$ | 11,719 | |
| Deferred revenues and advances from customers | 191,535 | 151,345 | |||
| Accrued expenses and other liabilities | 200,824 | 223,255 | |||
| Current liabilities of discontinued operations | 6,444 | 12,744 | |||
| Total current liabilities | 418,140 | 399,063 | |||
| LONG-TERM LIABILITIES: | |||||
| Deferred tax liabilities | 14,889 | 15,040 | |||
| Other long-term liabilities | 18,118 | 17,952 | |||
| Long-term liabilities of discontinued operations | 2,409 | 2,409 | |||
| Total long-term liabilities | 35,416 | 35,401 | |||
| SHAREHOLDERS' EQUITY | 1,451,066 | 1,415,149 | |||
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | \$ | 1,904,622 | \$ | 1,849,613 |
NICE LTD. AND SUBSIDIARIES CONSOLIDATED CASH FLOW STATEMENTS
U.S. dollars in thousands
| Quarter ended | Year to date June 30, |
||||
|---|---|---|---|---|---|
| June 30, | |||||
| 2016 2015 |
2016 2015 |
||||
| Unaudited | Unaudited | Unaudited | Unaudited | ||
| Operating Activities | |||||
| Net income | \$ 25,380 | \$ 29,257 | \$ 60,520 | \$ 58,494 | |
| Less loss (income) for the period from discontinued operation | |||||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities | |||||
| Depreciation and amortization | 20,484 | 15,255 | 33,400 | 30,331 | |
| Stock based compensation | 9,826 | 6,063 | 16,257 | 13,275 | |
| Excess tax benefit from share-based payment arrangements | 533 | (1,376) | (1,148) | (2,014) | |
| Amortization of premium and discount and accrued interest on marketable securities | 672 | 567 | 1,641 | 1,213 | |
| Deferred taxes, net | (9,111) | (2,888) | (12,697) | (6,408) | |
| Changes in operating assets and liabilities: | |||||
| Trade Receivables | 14,801 | (17,872) | 54,369 | 18,448 | |
| Prepaid expenses and other current assets | (8,268) | 978 | 4,768 | (2,477) | |
| Trade payables | 4,428 | 6,651 | 5,289 | 7,791 | |
| Accrued expenses and other current liabilities | (21,724) | 14,239 | (48,438) | (12,608) | |
| Deferred revenue | (5,833) | 3,580 | 29,855 | 52,506 | |
| Other | (935) | 2,562 | (744) | 2,599 | |
| Net cash provided by operating activities | 30,253 | 57,016 | 143,072 | 161,150 | |
| Investing Activities | |||||
| Purchase of property and equipment | (4,084) | (4,741) | (11,143) | (7,960) | |
| Purchase of Investments | (19,269) | (38,164) | (47,221) | (124,147) | |
| Proceeds from Investments | 41,360 | 11,560 | 80,478 | 42,542 | |
| Capitalization of software development costs | (1,697) | (212) | (2,758) | (212) | |
| Payments for business acquisitions, net of cash acquired | (872) | (1,500) | (151,325) | (1,500) | |
| Net cash provided by (used in) investing activities | 15,438 | (33,057) | (131,969) | (91,277) | |
| Financing Activities | |||||
| Proceeds from issuance of shares upon exercise of share options and ESPP | 5,655 | 8,118 | 13,169 | 17,133 | |
| Purchase of treasury shares | (9,420) | (12,096) | (32,093) | (18,384) | |
| Dividends paid | (9,519) | (9,528) | (19,036) | (19,114) | |
| Excess tax benefit from share-based payment arrangements | (533) | 1,376 | 1,148 | 2,014 | |
| Earnout payments related to acquisitions | - | - | - | (262) | |
| Net cash used in financing activities | (13,817) | (12,130) | (36,812) | (18,613) | |
| Effect of exchange rates on cash and cash equivalents | (580) | 1,972 | 785 | (2,465) | |
| Net change in cash and cash equivalents | 31,294 | 13,801 | (24,924) | 48,795 | |
| Cash and cash equivalents, beginning of period | 269,713 | 222,491 | 325,931 | 187,497 | |
| Cash and cash equivalents, end of period | \$ 301,007 | \$ 236,292 | \$ 301,007 | \$236,292 |
פתרונות האנליטיקס הובילו את הצמיחה של נייס ברבעון השני של 2016
החברה מעלה את תחזית הרווח למניה לשנת 2016
פראמוס, ניו ג'רזי, 28 ביולי, 2016 – נייס )נאסד"ק: NICE )פרסמה היום את התוצאות לרבעון השני שהסתיים ב30- ביוני, .2016
עיקרי התוצאות לרבעון השני של :2016
| GAAP | Non-GAAP |
|---|---|
| לאשתקד בהשוואה בהכנסות 6% גידול של |
לאשתקד בהשוואה 9% גידול של |
| אשתקד 65.8% לעומת ל 63.9% ח גולמי ש שיעור רוו |
אשתקד 69.2% לעומת ל 70.4% ח גולמי ש שיעור רוו |
| מאשתקד של 25% ר, ירידה מיליון דול לי של 24 רווח תפעו |
מאשתקד ל 18% ר, גידול ש מיליון דול לי של 57 רווח תפעו |
| אשתקד 14.5% לעומת 10.3% של ח תפעולי שיעור רוו |
אשתקד 22.3% לעומת 24.0% של ח תפעולי שיעור רוו |
| עברה ה לשנה ש דולר בדומ 0.42 ה של רווח למני |
דולר 0.64 וואה ל- דולר בהש 0.79 מלא של ה בדילול רווח למני |
| 23% ידול של אשתקד, ג |
"אנחנו שמחים לדווח שוב על ביצועים חזקים ברבעון השני של 2016", אמר ברק עילם, מנכ"ל נייס. "דיווחנו על הכנסות -Non GAAP של 235 מיליון דולר, גידול של 9% בהשוואה לרבעון המקביל אשתקד. בניכוי השפעות מטבע הצמיחה בהכנסות -non GAAP הייתה דו ספרתית של .10% הצמיחה בהכנסות בשילוב עם מצוינות תפעולית הביאה לגידול משמעותי של 23% ברווח למניה GAAP-non בהשוואה לרבעון המקביל בשנה שעברה".
עילם הוסיף: "אנו עדים להאצה משמעותית בפתרונות האנליטיקס ובפתרונות הענן. פתרונות האנליטיקס שלנו ממשיכים להוות מנוע צמיחה בזמן שמספר הולך וגדל של לקוחותינו, הן קיימים והן חדשים, מאמצים במהירות את האנליטיקס עבור כמות גדולה של מקרי שימוש. בנוסף, מאז ההודעה על הרכישה של inContact, מובילת שוק הענן של שירות הלקוחות, קיבלנו משובים חיוביים מאוד מלקוחות ומשותפים עסקיים. אנו רואים האצה במספר ארגוני שירות לקוחות המאמצים פתרונות ענן, והשילוב של נייס ו- inContact מציב אותנו במקום המוביל את השוק".
הודעה על חלוקת דיבידנד
החברה הודיעה על חלוקת דיבידנד בסך של 0.16 דולר למניה בגין הרבעון השני של .2016 המועד הקובע הוא 15 באוגוסט, 2016 ומועד התשלום הוא 31 באוגוסט .2016 מס ינוכה בשיעור של .15%
עיקרי התוצאות הפיננסיות )GAAP )לרבעון השני שהסתיים ב- 30 ביוני :2016
נתוני ה- GAAP המוצגים כאן, מלבד נתוני תזרים המזומנים ויתרת המזומנים, הינם נתונים פיננסים של הפעילות הנמשכת, ואינם כוללים את תוצאות חטיבות ה- Intelligence וה- Security Physical ל2016- ול- .2015
הכנסות: ההכנסות ברבעון השני של 2016 גדלו ב6.0%- ל- 228.5 מיליון דולר, לעומת 215.7 מיליון דולר ברבעון השני של .2015
רווח גולמי: הרווח הגולמי ושיעור הרווח הגולמי ברבעון השני של 2016 הסתכמו ל- 146.1 מיליון דולר ו- ,63.9% בהתאמה, לעומת 141.8 מיליון דולר ו- ,65.8% בהתאמה, ברבעון השני של .2015 רווח תפעולי: הרווח התפעולי ושיעור הרווח התפעולי ברבעון השני של 2016 הסתכמו ל- 23.5 מיליון דולר ו- ,10.3% בהתאמה, לעומת 31.4 מיליון דולר ו- ,14.5% בהתאמה, ברבעון השני של .2015
רווח נקי מפעילות נמשכת: הרווח הנקי ושיעור הרווח הנקי ברבעון השני של 2016 הסתכמו ל- 25.4 מיליון דולר ו,11.1%- בהתאמה, לעומת 25.7 מיליון דולר ו- ,11.9% בהתאמה ברבעון השני של .2015
רווח למניה מפעילות נמשכת: הרווח למניה בדילול מלא ברבעון השני של 2016 הסתכם ל- 0.42 דולר בדומה לרבעון השני של .2015
תזרים המזומנים מפעילות שוטפת ויתרת מזומנים: תזרים המזומנים מפעילות שוטפת ברבעון השני של 2016 היה 30.3 מיליון דולר. ברבעון השני 9.4 מיליון דולר שימשו לרכישה חוזרת של מניות ו- 9.5 מיליון דולר לתשלום דיבידנד. נכון ל30- ביוני ,2016 יתרות המזומנים ושווי המזומנים, וכן השקעות לטווח קצר וארוך הסתכמו ב- 775.6 מיליון דולר, ללא חוב.
עיקרי התוצאות הפיננסיות )GAAP-Non )לרבעון השני שהסתיים ב- 30 ביוני :2016
נתוני ה- GAAP-non המוצגים כאן הינם נתונים פיננסים של הפעילות הנמשכת, ואינם כוללים את תוצאות חטיבות ה- Intelligence וה- Security Physical ל2016- ול- .2015
הכנסות: ההכנסות )GAAP-Non )ברבעון השני של 2016 הסתכמו ב- 235.4 מיליון דולר, גידול של 9.1% לעומת 215.7 מיליון דולר ברבעון השני של .2015
רווח גולמי: הרווח הגולמי )GAAP-Non )ברבעון שני של 2016 ושיעור הרווח הגולמי )GAAP-Non )גדלו ל- 165.8 מיליון דולר ו,70.4%- בהתאמה, לעומת 149.3 מיליון דולר ו69.2%- בהתאמה ברבעון השני של .2015
רווח תפעולי: הרווח התפעולי )GAAP-Non )ברבעון השני של 2016 ושיעור הרווח התפעולי )GAAP-Non )גדלו ל- 56.6 מיליון דולר ו,24.0%- בהתאמה, לעומת 48.1 מיליון דולר ו22.3%- בהתאמה ברבעון השני של .2015
רווח נקי מפעילות נמשכת: הרווח הנקי )GAAP-Non )ושיעור הרווח הנקי )GAAP-Non )ברבעון השני של 2016 גדלו ל- 47.9 מיליון דולר ו,20.4%- בהתאמה, לעומת 39.5 מיליון דולר ו,18.3%- בהתאמה, ברבעון השני של .2015
רווח למניה מפעילות נמשכת: הרווח )GAAP-Non )למניה בדילול מלא ברבעון השני של 2016 גדל ל- 0.79 דולר, גידול של 23.4% לעומת 0.64 דולר ברבעון השני של .2015
תחזית לרבעון השלישי ולשנת :2016
הרבעון השני של :2016 סך ההכנסות )GAAP-Non )ברבעון השני של ,2016 צפוי להסתכם ב- 234 מיליון דולר עד 244 מיליון דולר. הרווח )GAAP-Non )למניה בדילול מלא ברבעון השני של 2016 צפוי להיות בטווח של 0.78 דולר עד 0.84 דולר.
שנת :2016 תחזית ההכנסות )GAAP-Non )בשנת 2016 מאושררת וצפויה להסתכם ב- 995 מיליון דולר עד 1,015 מיליון דולר. תחזית הרווח )GAAP-Non )למניה בדילול מלא בשנת ,2016 עלתה לטווח של 3.48 דולר עד 3.58 דולר.
שיחת ועידה לדיון בתוצאות הרבעוניות
הנהלת נייס תארח שיחת ועידה לדיון בתוצאות הפיננסיות ובתחזית החברה היום, 28 ביולי, ,2016 בשעה 8:30 בבוקר שעון החוף המזרחי של ארה"ב, 13:30 לפי שעון גריניץ' ו15:30- לפי שעון ישראל. להשתתפות בשיחה יש לחייג את המספרים הבאים: מארה"ב: 1-866-804-8688 או .+1-718-354-1175 ממדינות אחרות 1296-480-100(0)+44; מבריטניה 0-800783- 0906; מישראל: .1-809-242-041 קוד הכניסה הוא 26 812 .431 מספרי גישה נוספים מוצגים
ב- attended_54=bid?/globalaccess/com.btconferencing.www://http. השיחה תשודר באינטרנט בשידור חי באתר החברה בכתובת events-ir/events-and-news/com.nice.www://http ותהיה זמינה להאזנה למשך שעתיים אחרי השיחה. הקלטה של השיחה תעמוד לרשות המעוניינים למשך 7 ימים אחרי השידור החי וניתן להאזין לה באמצעות חיוג המספר 1-877- 482-6144 מארה"ב, 20-7136-9233(0)+44 ממדינות אחרות ו0-800-032-9687- מבריטניה. קוד הכניסה להקלטה הוא .111 439 27
אודות נייס
נייס )NICE :NASDAQ, ת"א: נייס( הינה המובילה העולמית במתן פתרונות תוכנה המאפשרים לארגונים לנקוט בפעולה הבאה הטובה ביותר על מנת לשפר את חוויית הלקוח ואת התוצאות העסקיות, להבטיח ציות לרגולציה, להיאבק בפשיעה פיננסית ולשמור על נכסים. הפתרונות של נייס מאפשרים לארגונים לקלוט, לנתח וליישם בזמן אמיתי תובנות ממידע מובנה ומ-Data Big שאינו מובנה. מידע זה מתקבל ממספר רב של מקורות כולל שיחות טלפון, אפליקציות של טלפונים ניידים, דוא"ל, צ'אטים, מדיה חברתית ווידיאו ועסקאות. הפתרונות של נייס נמצאים בשימוש של יותר מ25,000- ארגונים ביותר מ150- מדינות, כולל מעל 80 www.nice.com .Fortune 100-ב המדורגות מהחברות
מסמך זה מהווה תרגום נוחות בלבד לעיקרי הדוחות ולהודעה לעיתונות באנגלית שפורסמה בארה"ב, המחייבת מבחינת החברה, והכוללת מידע נוסף, בין היתר בנוגע להפרשים בין GAAP ל- GAAP-Non.
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