Comverse, Inc. provides cloud-based and in-network services enablement and monetization software solutions for communication service providers (CSPs) and enterprises worldwide. It operates in Business Support Systems (BSS) and Digital Services segments. The company offers BSS that offers prepaid and postpaid billing, and active customer management systems for wireless, wireline, cable, and multi-play CSPs. Its BSS solutions enable customers to introduce new products; charge flexibly for a range of services or content delivered over their networks; perform real-time marketing; and automate sales and marketing activities. The company also provides digital services solutions enabling voice and ...
200 Quannapowitt Parkway
Wakefield, MA 01880
Founded in 1997
Comverse, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended January 31, 2015; Reports Impairment of Property and Equipment for the Quarter Ended January 31, 2015; Provides Earnings Guidance for the First Quarter and Full Year 2015
Apr 16 15
Comverse, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended January 31, 2015. For the quarter, the company announced total revenue of $119,734,000 compared to $166,514,000 for the same period a year ago. Income from operations was $6,755,000 compared to $3,725,000 for the same period a year ago. Income before income tax expense was $5,040,000 compared to $1,514,000 for the same period a year ago. Net income was $9,908,000 compared to $15,777,000 for the same period a year ago. Net income attributable to the company was $0.45 per diluted share compared to $0.70 per diluted share for the same period a year ago. CapEx for the fourth quarter was $5.7 million. Operating income improvement reflects both a change in product mix as well as the initial impact of the restructuring efforts began in September 2014.
For the full year, the company announced total revenue of $477,305,000 compared to $652,501,000 for the same period a year ago. Loss from operations was $15,836,000 compared to income from operations of $37,699,000 for the same period a year ago. Loss before income tax benefit was $11,855,000 compared to income before income tax expense of $27,875,000 for the same period a year ago. Net loss was $22,139,000 compared to net income of $18,686,000 for the same period a year ago. Net loss attributable to the company $1.00 per diluted share compared to net income attributable to the company of $0.83 per diluted share for the same period a year ago. Net cash used in operating activities was $69,595,000 compared to net cash provided by operating activities of $6,621,000 for the same period a year ago. Purchase of property and equipment was $23,377,000 compared to $12,341,000 for the same period a year ago.
For the quarter, the company reported write-off of property and equipment of $322,000 compared to $231,000 a year ago.
The company on an annual basis, currently anticipates total revenues for fiscal year 2015 to be in a range between $430 million and $450 million. The company intend to be free cash flow positive in 2015.
The company do not expects to achieve positive operating cash flow in first quarter of 2015.
Comverse and Tech Mahindra Sign Global Strategic Relationship
Apr 15 15
Comverse and Tech Mahindra announced they have reached an agreement in principle on a strategic relationship, whereby Comverse will accelerate its transformation as a global innovator in digital services by leveraging Tech Mahindra's expertise and scale in development and delivery of digital offerings. As part of this initiative, employees from certain functions within Comverse's Digital Services business unit are anticipated to join Tech Mahindra. Tech Mahindra is a specialist in digital transformation, consulting and business re-engineering, particularly in the global technology industry. Tech Mahindra will complement Comverse's R&D and engineering operations through innovation in product development techniques and just-in-time capability reinforcement. Tech Mahindra will bring its experience in developing and creating a start-up ecosystem that has helped launch path-breaking solutions for the connected world. The company will also enable global exposure and long-term career opportunities for the employees coming onboard from Comverse. This relationship gives Comverse access to a flexible operating model to respond more quickly to changes in market demands and brings an influx of skills to expand Comverse's delivery of innovative products for its customers.
Comverse, Inc. to Report Q4, 2015 Results on Apr 16, 2015
Apr 2 15
Comverse, Inc. announced that they will report Q4, 2015 results at 11:50 AM, GMT Standard Time on Apr 16, 2015