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Amdocs Sees Continued Revenue Growth

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11/8/2018
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ST. LOUIS -- Amdocs today reported operating results for the three months ended September 30, 2018.

Revenue for the fourth fiscal quarter ended September 30, 2018 was $1.0 billion, up $0.4 million sequentially from the third fiscal quarter of 2018 and up 2.3% as compared to last year’s fourth fiscal quarter. Revenue for the fourth fiscal quarter of 2018 includes a negative impact from foreign currency movements of approximately $5 million relative to the third quarter of fiscal 2018.

For the fiscal year ended September 30, 2018, revenue increased by 2.8% to $4.0 billion.

The Company's GAAP net income for the fourth quarter of fiscal 2018 was $44.3 million, or $0.31 per diluted share, compared to GAAP net income of $107.2 million, or $0.73 per diluted share, in the prior fiscal year’s fourth quarter. GAAP net income for the fourth quarter of fiscal 2018 includes a non-recurring charge of a loss of $0.36 per diluted share, net of tax effect incurred to settle a previously disclosed long-running legal dispute.

Net income on a non-GAAP basis was $140.2 million, or $0.99 per diluted share, compared to non-GAAP net income of $137.4 million, or $0.94 per diluted share, in the fourth quarter of fiscal 2017. Non-GAAP net income excludes amortization of purchased intangible assets and other acquisition-related costs, changes in certain acquisitions related liabilities measured at fair value, equity-based compensation expenses of $12.9 million, and non-recurring charges of a loss incurred to settle a previously disclosed long-running legal dispute, net of related tax effects, in the fourth quarter of fiscal 2018.

The Company's GAAP net income in fiscal 2018 was $354.4 million, or $2.47 per diluted share, compared to GAAP net income of $436.8 million, or $2.96 per diluted share, in fiscal 2017. Fiscal 2018 net income on a non-GAAP basis was $579.6 million, or $4.03 per diluted share, compared to non-GAAP net income of $560.6 million, or $3.80 per diluted share, in fiscal 2017.

Quarterly Cash Dividend Program: On November 8, 2018, the Board approved the Company’s next quarterly cash dividend payment of $0.25 per share and set December 31, 2018 as the record date for determining the shareholders entitled to receive the dividend, which will be payable on January 18, 2019. The Board also approved an increase in the Company’s quarterly cash dividend payment to $0.285 per share, which is anticipated to be paid in April 2019, provided that the increase is approved by shareholders at the January 2019 annual general meeting of shareholders.

Share Repurchase Activity: Repurchased $90 million of ordinary shares during the fourth quarter of fiscal 2018.

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