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
Deutsche Telekom Selects Comverse mVAS
Jun 16 15
Comverse announced Deutsche Telekom has selected the company's virtualised Multi-VAS (mVAS) solution to converge and modernise traditional voice and messaging value-added services in a centralised platform. With Comverse's mVAS, Deutsche Telekom expects to reduce operating costs and pave a seamless path to advanced IP-based digital lifestyle services. Comverse mVAS supports deployment of services over a common infrastructure with shared components, all controlled through a central management system. Benefits of this shared infrastructure include reducing complexity and improving service diversification, while preserving and enhancing the quality, scalability, robustness and profitability of popular voice, text and multimedia messaging solutions.
Comverse, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended April 30, 2015; Provides Earnings Guidance for Second Half of 2016
Jun 15 15
Comverse, Inc. announced unaudited consolidated earnings results for the first quarter ended April 30, 2015. The company reported total revenue for the first quarter of 2015 of $45.7 million, a 30% decrease from revenues in the first quarter of 2014 of $65.1 million. Approximately 4% of the revenue decline was caused by year-on-year foreign exchange degradation. The net loss from continuing operations for the first quarter 2015 was $40 million or $1.83 per share compared to a net loss of $22.1 million or $0.99 per share in the first quarter of 2014. First quarter 2015 income from continuing operations were negatively impacted by approximately $5 million of severance and deal-related expenses, $5 million of lost accruals for 2 specific projects and $16 million of stranded overhead expenses associated with BSS asset. On a non-GAAP basis, adjusted LBITDA was $18.5 million or $0.85 per share in the first quarter of fiscal 2015 compared to a $12.5 million or $0.56 per share in the same quarter last year. The company adjusted EBITDA losses, as discussed, of approximately $18 million, representing a $5 million reduction from prior year's adjusted EBITDA loss of approximately $13 million. This year-over-year decline was impacted by approximately $2 million of adverse foreign exchange impact and $5 million of project loss accrual associated with 2 customer contracts. The company operating cash flow loss to $40 million in the first quarter 2015 compared to $33 million loss in the first quarter of 2014, excluding severance and bill-related expenses. Loss from operations was $29,613,000 compared to $21,594,000 a year ago. Loss before income tax expense was $35,193,000 compared to $19,635,000 a year ago. Net cash used in operating activities was $17,704,000 compared to $35,599,000 a year ago. Purchases of property and equipment were $4,999,000 compared to $3,309,000 a year ago.
Based on the Acision acquisition, the company expects to generate incremental EBITDA of $70 million to $80 million, which includes anticipated synergies. With the completion of these efforts, expects to produce $100 million to $110 million of run rate EBITDA in the second half of 2016. The company expects to generate annualized EBITDA of $30 million to $40 million.
Comverse, Inc. announced delayed 10-Q filing
Jun 8 15
On 06/08/2015, Comverse, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.