Verint Systems Shares Plunge On Earnings, Outlook Miss

By Markets MarketWatch Pulse

Verint Systems Inc. shares dropped in the extended session Tuesday after the software company's quarterly results and outlook fell short of Wall Street expectations. Verint shares dropped 14% to $15.29 after hours. The company reported adjusted fourth-quarter earnings of 90 cents a share on revenue of $281.8 million. Analysts surveyed by FactSet had forecast earnings of $1.16 a share on revenue of $318.5 million. Verint said it expects 2016 adjusted earnings plus-or-minus 2% from 2015's $3.04 a share, and revenue "similar" to the past year's $1.13 billion. Analysts had expected 2016 earnings of $3.54 a share and revenue of $1.23 billion. Verint also said its board authorized $150 million in stock buybacks.

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