Amdocs Limited Announces Consolidated Earnings Results for the First Quarter Ended December 31, 2017; Provides Earnings Guidance for the Second Quarter and Reiterates Earnings Guidance for the Fiscal 2018
January 30, 2018 at 04:25 pm EST
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Amdocs Limited announced consolidated earnings results for the first quarter ended December 31, 2017. For the quarter, the company reported revenues of $977,711,000 against $954,727,000 a year ago. Operating income was $122,143,000 against $121,593,000 a year ago. Income before income taxes was $122,264,000 against $118,830,000 a year ago. Net income was $116,873,000 against $97,793,000 a year ago. Diluted earnings per share were $0.80 against $0.66 a year ago. Non-GAAP operating income was $169,064,000 against $164,085,000 a year ago. Non-GAAP net income was $154,466,000 against $133,567,000 a year ago. Non-GAAP diluted earnings per share were $1.06 against $0.90 a year ago. Net cash provided by operating activities was $164,601,000 against $168,028,000 a year ago. Payments for purchase of equipment were $51,779,000 against $41,736,000 a year ago. Free cash flow was $127 million.
For the second quarter of fiscal 2018, the company expects revenue to be in the range of $960 million to $1,000 million, including an immaterial sequential impact from foreign currency fluctuations as compared to the first quarter of fiscal 2018. Diluted GAAP EPS of approximately $0.65 to $0.73. Diluted non-GAAP EPS of approximately $0.91 to $0.97, excluding amortization of purchased intangible assets and other acquisition-related costs and approximately $0.05 to $0.07 per share of equity-based compensation expense, net of related tax effects. Expected non-GAAP effective tax rate to be above the high-end of the annual target range of 13% to 17% in the second quarter fiscal 2018.
For the fiscal 2018, the company reiterated its revenue growth of 0.0% to 4.0% year-over-year as reported and negative 1.0% to 3.0% year-over-year on a constant currency basis. Reiterated GAAP diluted earnings per share growth of roughly 3.0% to 9.0% year-over-year. Reiterated Non-GAAP diluted earnings per share growth of roughly 4.0% to 8.0% year-over-year, excluding amortization of purchased intangible assets and other acquisition-related costs and approximately $0.25 to $0.29 per share of equity-based compensation expense, net of related tax effects. Expected non-GAAP effective tax rate to remain within the same target range of 13% to 17% for the full year fiscal 2018.
Amdocs Limited is a provider of software and services to communications and media companies. The Companyâs offerings are based on a product and service mix, using technologies and methodologies such as fifth generation (5G) cloud, microservices, development and operations (DevOps), open source, bimodal operations, site reliability engineering (SRE) and automation through standard information technology (IT) tools, open application programming interfaces (APIs) and artificial intelligence (AI). The Company's services include end-to-end systems integration services, managed services, digital business operations, quality engineering services, cloud services, consulting services, and integration services. In addition, the Company also provides advertising and media offerings for media publishers, television (TV) networks, video streaming providers, advertising agencies and service providers. Its service assurance suite includes fault, performance, and service management capabilities.
Amdocs Limited Announces Consolidated Earnings Results for the First Quarter Ended December 31, 2017; Provides Earnings Guidance for the Second Quarter and Reiterates Earnings Guidance for the Fiscal 2018