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Monday, November 02, 2009
Nice Systems Net Off 29%, Adjusted Net Down 10%
By Robert Daniel
MarketWatch Pulse
TEL AVIV -- Nice Systems Ltd., the Ra'anana, Israel, provider of digital recording and archiving solutions for industrial and security applications, reported that third-quarter net income fell 29%, with adjusted profit down 10%. Earnings were $7.8 million, or 12 cents a share, compared with $10.9 million, or 18 cents, in the year-earlier quarter. Adjusted earnings were 38 cents against 43 cents. Revenue declined 11% to $144.7 million from $162.5 million. Adjusted revenue fell 10% to $146.1 million from $163 million. A survey of analysts by FactSet Research produced consensus estimates of 37 cents of profit on $145.3 million of revenue.
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