NICE; TASE: NICE) reported second quarter revenue of $456.0 million, up 16% in comparison with the $393.2 million recorded in the second quarter of 2020. Net profit on a GAAP basis was $44.4 million, which compares with $44.6 million for the second quarter of 2020. The net profit margin decreased to 9.7% compared with 11.3% for the second quarter of 2020.
Nice Systems specializes in voice recording analysis, data security, surveillance, and robotic process automation.
On a non-GAAP basis, second quarter revenue was $458.9 million, up 16% compared with $395.1 million for the second quarter of 2020. Non-GAAP net profit rose 16% to $104.3 million from $89.9 million for the second quarter of 2020. The non-GAAP net profit margin was 22.7%, which compares with 22.7% in the second quarter of 2020.
Non-GAAP earnings per share in the second quarter of 2021 was up 14.6% to $1.57, compared with $1.37 for the second quarter of 2020.
The consensus analysts’ estimate for second quarter was earnings per share of $1.51 on revenue of $450.29 million.
In its guidance for the third quarter Nice Systems projects non-GAAP revenue of $460-470 million and non-GAAP fully diluted earnings per share of $1.51-1.61.
For 2021 as a whole, the company projects non-GAAP revenue of $1,835-1,855, up from $1,800-1,820 million in its previous guidance. Non-GAAP fully diluted earnings per share are expected to be in a range of $6.26-6.46, up from the previous guidance range of $6.19-6.39. The consensus analysts’ estimate for 2021 is revenue of $1.82 billion and EPS of $6.29.
Nice Systems CEO Barak Eilam said, “We are very pleased with the accelerated top line growth of 16% in the second quarter, which is a result of the combination of robust cloud growth and cloud revenue increasing to more than 50% of our total revenue. The strong second quarter financial results in all key metrics are being driven by solid execution in cloud, digital and AI, continued success with CXone in large enterprises and rapid growth in international markets. Digital transformation is still in the very early stages, and as the clear market leader, we believe we will achieve the same outstanding success in digital as we have in cloud.”
On the Tel Aviv Stock Exchange, Nice Systems’ share price is down 1.43%, at NIS 873.90. In early trading in New York, Nice Systems’ share price is down 1.77% at $272.45. The company has a market cap of $17.4 billion.
The share price began 2021 at $281.51 and reached a low of $212.68 in May.
Published by Globes, Israel business news – en.globes.co.il – on August 5, 2021
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