FollowVerient’s quarterly results surprised analysts and the Street, as they were significantly above expectations. The business grew 47% over the prior-year quarter on a non-GAAP basis guided by strong activity in both the acquired KANA business but also the legacy business which grew 11% year over year.
The company’s cyber security business signed a significant deal for $100million which will contribute primarily to fiscal 2016 and 2017 and with no revenue recognized in the recently reported May quarter. The EMEA region grew more than 81% year over year showing particular strength. The Americas grew more than 27%, while APAC declined slightly over the same period. Management revised outlook for fiscal year 2015 has a revenue growth of 24.7% and pro forma EPS growing at a slower rate of 19.4% mainly attributable to higher interest expenses from acquisitions.
Germaine Hicks
Germaine is an avid sports fan and as such, he decided on his current career path with the idea in mind that he would never, ever miss a Yankee game. Until now, he managed to make good on that promise. As you’ve probably guessed, he’s our go-to sports guy.
