Verient’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.