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 Verint Announces Fourth Quarter and Full Year Results
   Wednesday, March 25, 2015 4:05:02 PM ET

Verint(R) Systems Inc. (VRNT ), a global leader in Actionable Intelligence(R) solutions and value-added services, today announced results for the three months and year ended January 31, 2015.

"We finished the year strong with Q4 non-GAAP operating results of $316 million of revenue, $89 million of operating income with 28.1% operating margins and more than $100 million of cash from operations. Our Q4 non-GAAP diluted EPS was $1.19 when excluding a non-operating foreign exchange charge related to balance sheet translations, and was $1.06 including it," said Dan Bodner, CEO and President.

Bodner continued, "We are very pleased with our Q4 results which reflect on-going demand for Actionable Intelligence solutions, and we look forward to another year of double-digit revenue growth on a constant currency basis."



Financial Highlights

Below is selected unaudited financial information for the three months and year ended January 31, 2015 prepared in accordance with generally accepted accounting principles ("GAAP") and not in accordance with GAAP ("non-GAAP").

Three Months Ended January 31, 2015 - GAAP       Three Months Ended January 31, 2015 - Non-GAAP
   Revenue: $311.7 million                                                                                   Revenue: $315.6 million
   Operating Income: $42.3 million                                                                           Operating Income: $88.6 million
   Diluted EPS: $0.07                                                                                        Diluted EPS: $1.06*
                                                                                                           
Year Ended January 31, 2015 - GAAP                                                                        Year Ended January 31, 2015 - Non-GAAP
   Revenue: $1,128.4 million                                                                                 Revenue: $1,158.2 million
   Operating Income: $79.1 million                                                                           Operating Income: $262.9 million
   Diluted EPS: $0.52                                                                                        Diluted EPS: $3.35
                                                                                                           
* See Note 3 to Table 3.
                                                                                                           

Financial Outlook

Below is Verint’s non-GAAP outlook for the year ending January 31, 2016.

-- Today, we are raising our constant currency guidance for revenue growth to a range of 9% to 13% year-over-year. This new guidance reflects a revenue range of $1.2 billion to $1.25 billion. -- Our preliminary revenue guidance provided on December 3, 2014 reflected a revenue range of $1.225 billion to $1.275 billion. This translated into revenue growth in a range of 8% to 12% year-over-year.

-- Consistent with our new revenue range, we are adjusting our diluted earnings per share guidance to a range of $3.55 to $3.75.

-- Please see Table 6 and "Supplemental Information About Non-GAAP Financial Measures" at the end of this press release for more information about our constant currency guidance.

Conference Call Information

We will conduct a conference call today at 4:30 p.m. ET to discuss our results for the three months and year ended January 31, 2015 and outlook for the year ending January 31, 2016. An online, real-time webcast of the conference call will be available on our website at www.verint.com. The conference call can also be accessed live via telephone at 1-877-280-4953 (United States and Canada) and 1-857-244-7310 (international) and the passcode is 70422807. Please dial in 5-10 minutes prior to the scheduled start time.

About Non-GAAP Financial Measures

This press release and the accompanying tables include non-GAAP financial measures, including certain constant currency measures. For a description of these non-GAAP financial measures, including the reasons management uses each measure, and reconciliations of non-GAAP financial measures presented for completed periods to the most directly comparable financial measures prepared in accordance with GAAP, please see Tables 2 and 3 as well as "Supplemental Information About Non-GAAP Financial Measures" at the end of this press release.

Our non-GAAP outlook does not include the potential impact of any business acquisitions that may occur after the date hereof, and, other than as noted above, reflects foreign currency exchange rates approximately consistent with current rates.

We are not providing a quantitative reconciliation of our non-GAAP outlook to the corresponding GAAP information because the GAAP measures that we exclude from our non-GAAP outlook, other than those described below, are difficult to predict and are primarily dependent on future uncertainties. The more significant GAAP measures excluded from our non-GAAP outlook for which we do not prepare a reconcilable GAAP forecast include revenue adjustments related to acquisitions, stock-based compensation, and income taxes.

Our non-GAAP outlook for the year ending January 31, 2016 excludes the following known GAAP measures:

-- Amortization of intangible assets - approximately $79 million; and

-- Amortization of discount on convertible notes - approximately $10 million.

About Verint Systems Inc.

Verint(R) is a global leader in Actionable Intelligence(R), which has become a necessity in a dynamic world of massive information growth. By empowering organizations with crucial insights, Verint solutions enable decision makers to anticipate, respond and take action, and make more informed, effective and timely decisions. Our solutions are designed to address three important areas of the Actionable Intelligence market: customer engagement optimization; security intelligence; and fraud, risk and compliance. Verint’s vision is to create A Smarter World with Actionable Intelligence(R), and today, more than 10,000 organizations in over 180 countries-including over 80 percent of the Fortune 100-already benefit from this vision. Learn more at www.verint.com and NASDAQ: VRNT.

Cautions About Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect relating to Verint Systems Inc. These forward-looking statements are not guarantees of future performance and they are based on management’s expectations that involve a number of known and unknown risks, uncertainties, assumptions and other important factors, any of which could cause our actual results or conditions to differ materially from those expressed in or implied by the forward-looking statements. Some of the factors that could cause our actual results or conditions to differ materially from current expectations include, among others: uncertainties regarding the impact of general economic conditions in the United States and abroad, particularly in information technology spending and government budgets, on our business; risks associated with our ability to keep pace with technological changes, new customer challenges, and evolving industry standards in our product offerings, adapt to changing market potential from area to area within our markets, and successfully develop, launch, and drive demand for new, innovative, high-quality products that meet or exceed customer needs; risks due to aggressive competition in all of our markets, including with respect to maintaining margins and sufficient levels of investment in our business; risks created by the continued consolidation of our competitors or the introduction of large competitors in our markets with greater resources than we have; risks associated with our ability to successfully compete for, consummate, and implement mergers and acquisitions, including risks associated with valuations, capital constraints, costs and expenses, maintaining profitability levels, expansion into new areas of growth, management distraction, post-acquisition integration activities, and potential asset impairments; risks relating to our ability to effectively and efficiently enhance our existing operations and execute on our growth strategy, including managing investments in our business and operations and enhancing and securing our internal and external operations; risks associated with our ability to effectively and efficiently allocate limited financial and human resources to business, development, strategic, or other opportunities that may not come to fruition or produce satisfactory returns; risks that we may be unable to establish and maintain relationships with key resellers, partners, and systems integrators; risks associated with the mishandling or perceived mishandling of sensitive or confidential information, security lapses, or with information technology system failures or disruptions; risks associated with our significant international operations, including, among others, in Israel, Europe, and Asia, exposure to regions subject to political or economic instability, and fluctuations in foreign exchange rates; risks associated with a significant amount of our business coming from domestic and foreign government customers, including the ability to maintain security clearances for certain projects; risks associated with complex and changing local and foreign regulatory environments in the jurisdictions in which we operate; risks associated with our ability to retain and recruit qualified personnel in regions in which we operate, especially in new markets and growth areas we may enter; challenges associated with selling sophisticated solutions, long sales cycles, and emphasis on larger transactions, including in assisting customers in realizing the benefits of our solutions and in accurately forecasting revenue and expenses and in maintaining profitability; risks that our intellectual property rights may not be adequate to protect our business or assets or that others may make claims on our intellectual property or claim infringement on their intellectual property rights; risks that our products may contain defects or may be vulnerable to cyber-attacks, which could expose us to substantial liability; risks associated with our reliance on third-party suppliers, partners, or original equipment manufacturers for certain components, products, or services, including companies that may compete with us or work with our competitors; risks that our customers or partners delay or cancel orders or are unable to honor contractual commitments due to liquidity issues, challenges in their business, or otherwise; risks that we may experience liquidity or working capital issues and related risks that financing sources may be unavailable to us on reasonable terms or at all; risks associated with significant leverage resulting from our current debt position, including with respect to liquidity considerations, covenant limitations and compliance, fluctuations in interest rates, dilution considerations (with respect to our convertible notes), and our ability to maintain our credit ratings; risks arising as a result of contingent or other obligations or liabilities assumed in our acquisition of our former parent company, Comverse Technology, Inc. ("CTI"), or associated with formerly being consolidated with, and part of a consolidated tax group with, CTI, or as a result of CTI’s former subsidiary, Comverse, Inc., being unwilling or unable to provide us with certain indemnities or transition services to which we are entitled; risks relating to the adequacy of our existing infrastructure, systems, processes, policies, procedures, and personnel and our ability to successfully implement and maintain adequate systems and internal controls for our current and future operations and reporting needs, including related risks of financial statement omissions, misstatements, restatements, or filing delays; and risks associated with changes in our tax position. We assume no obligation to revise or update any forward-looking statement, except as otherwise required by law. For a detailed discussion of these risk factors, see our Annual Report on Form 10-K for the fiscal year ended January 31, 2015, when filed, and other filings we make with the SEC.

VERINT, ACTIONABLE INTELLIGENCE, MAKE BIG DATA ACTIONABLE, CUSTOMER-INSPIRED EXCELLENCE, INTELLIGENCE IN ACTION, IMPACT 360, WITNESS, VERINT VERIFIED, KANA, LAGAN, VOVICI, GMT, VICTRIO, AUDIOLOG, ENTERPRISE INTELLIGENCE SOLUTIONS, SECURITY INTELLIGENCE SOLUTIONS, VOICE OF THE CUSTOMER ANALYTICS, NEXTIVA, EDGEVR, RELIANT, VANTAGE, STAR-GATE, ENGAGE, CYBERVISION, FOCALINFO, SUNTECH, and VIGIA are trademarks or registered trademarks of Verint Systems Inc. or its subsidiaries. Other trademarks mentioned are the property of their respective owners.

                                                                                                                                                                                            
                                                                                                                                                                                           Table 1
                                                                                                                                                                            VERINT SYSTEMS INC. AND SUBSIDIARIES
                                                                                                                                                                            Consolidated Statements of Operations
                                                                                                                                                                                         (Unaudited)
                                                                                                                                                                                                                                                                          
                                                                                                                                                            Three Months Ended                                                                                                                                               Year Ended
                                                                                                                                                                January 31,                                                                                                                                                  January 31,
                                                                                                           ------------------------------------------------------------------------------------------------------------                                                  -----------------------------------------------------------------------------------------------------------
(in thousands, except per share data)                                                                                      2015                                     2014                                                                           2015                                     2014
----------------------------------------------------------------                                           -------------------------------------                                          -------------------------------------                                          -------------------------------------                                          ------------------------------------
Revenue:
Product                                                                                                          $ 147,960                                                                      $ 129,289                                                                      $ 487,617                                                                     $ 416,478
Service and support                                                                                                163,693                                                     126,456                                                     640,819                                                    490,814  
                                                                                                           ------------------------------------                                           ------------------------------------                                           ------------------------------------                                           -----------------------------------
  Total revenue                                                                                                    311,653                                                     255,745                                                   1,128,436                                                    907,292  
                                                                                                           ------------------------------------                                           ------------------------------------                                           ------------------------------------                                           -----------------------------------
Cost of revenue:
Product                                                                                                             40,346                                                                         42,974                                                                        144,870                                                                       137,558
Service and support                                                                                                 60,335                                                                         41,025                                                                        239,274                                                                       156,593
Amortization of acquired technology and backlog                                                                      7,986                                                       4,349                                                      31,004                                                     12,269  
                                                                                                           ------------------------------------                                           ------------------------------------                                           ------------------------------------                                           -----------------------------------
  Total cost of revenue                                                                                            108,667                                                      88,348                                                     415,148                                                    306,420  
                                                                                                           ------------------------------------                                           ------------------------------------                                           ------------------------------------                                           -----------------------------------
Gross profit                                                                                                       202,986                                                     167,397                                                     713,288                                                    600,872  
                                                                                                           ------------------------------------                                           ------------------------------------                                           ------------------------------------                                           -----------------------------------
Operating expenses:
Research and development, net                                                                                       45,340                                                                         34,604                                                                        173,748                                                                       126,539
Selling, general and administrative                                                                                104,320                                                                         86,845                                                                        415,266                                                                       327,385
Amortization of other acquired intangible assets                                                                    11,039                                                       6,469                                                      45,163                                                     24,662  
                                                                                                           ------------------------------------                                           ------------------------------------                                           ------------------------------------                                           -----------------------------------
  Total operating expenses                                                                                         160,699                                                     127,918                                                     634,177                                                    478,586  
                                                                                                           ------------------------------------                                           ------------------------------------                                           ------------------------------------                                           -----------------------------------
Operating income                                                                                                    42,287                                                      39,479                                                      79,111                                                    122,286  
                                                                                                           ------------------------------------                                           ------------------------------------                                           ------------------------------------                                           -----------------------------------
Other income (expense), net:
Interest income                                                                                                        387                                                                            400                                                                          1,070                                                                           963
Interest expense                                                                                                    (8,558 )                                                                       (7,793 )                                                                      (36,661 )                                                                     (29,780 )
Losses on early retirements of debt                                                                         --                                                                 --                                                                        (12,546 )                                                                      (9,879 )
Other expense, net                                                                                                 (10,837 )                                                                      (15,262 )                                                                       (9,571 )                                                                     (20,275 )
                                                                                                           ------------------------------------                                           ------------------------------------                                           ------------------------------------                                           -----------------------------------
  Total other expense, net                                                                                         (19,008 )                                                                      (22,655 )                                                                      (57,708 )                                                                     (58,971 )
                                                                                                           ------------------------------------                                           ------------------------------------                                           ------------------------------------                                           -----------------------------------
Income before provision (benefit) for income taxes                                                                  23,279                                                                         16,824                                                                         21,403                                                                        63,315
Provision (benefit) for income taxes                                                                                16,789                                                      (7,330 )                                                                      (14,999 )                                                                       4,539  
                                                                                                           ------------------------------------                                           ------------------------------------                                           ------------------------------------                                           -----------------------------------
Net income                                                                                                           6,490                                                                         24,154                                                                         36,402                                                                        58,776
Net income attributable to noncontrolling interest                                                                   1,907                                                       1,267                                                       5,471                                                      5,019  
                                                                                                           ------------------------------------                                           ------------------------------------                                           ------------------------------------                                           -----------------------------------
Net income attributable to Verint Systems Inc.                                                                       4,583                                                                         22,887                                                                         30,931                                                                        53,757
Dividends on preferred stock                                                                                --                                              --                                              --                                                       (174 )
                                                                                                           ------------------------------------                                           ------------------------------------                                           ------------------------------------                                           -----------------------------------
Net income attributable to Verint Systems Inc. common shares                                                     $   4,583                                                   $  22,887                                                   $  30,931                                                  $  53,583  
                                                                                                           ======= ======= ====================                                           ======= ======= ====================                                           ======= ======= ====================                                           ====== ======= ====================
                                                                                                                                                                                                                                                                                                                                                         
Net income per common share attributable to Verint Systems Inc.:
Basic                                                                                                            $    0.08                                                   $    0.43                                                   $    0.53                                                  $    1.01  
                                                                                                           ======= ======= ====================                                           ======= ======= ====================                                           ======= ======= ====================                                           ====== ======= ====================
Diluted                                                                                                          $    0.07                                                   $    0.42                                                   $    0.52                                                  $    0.99  
                                                                                                           ======= ======= ====================                                           ======= ======= ====================                                           ======= ======= ====================                                           ====== ======= ====================
                                                                                                                                                                                                                                                                                                                                                         
Weighted-average common shares outstanding:
Basic                                                                                                               60,823                                                      53,518                                                      58,096                                                     52,967  
                                                                                                           ====================================                                           ====================================                                           ====================================                                           ===================================
Diluted                                                                                                             62,081                                                      54,540                                                      59,374                                                     53,878  
                                                                                                           ====================================                                           ====================================                                           ====================================                                           ===================================
                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                             
                                                                                                                                                                                  Table 2
                                                                                                                                                                   VERINT SYSTEMS INC. AND SUBSIDIARIES
                                                                                                                                                                              Segment Revenue
                                                                                                                                                                                (Unaudited)
                                                                                                                                                                                                                                                           
                                                                                                                                             Three Months Ended                                                                                                                                              Year Ended
                                                                                                                                                 January 31,                                                                                                                                                 January 31,
                                                                                            ------------------------------------------------------------------------------------------------------------                                                  ----------------------------------------------------------------------------------------------------------
 (in thousands)                                                                                             2015                                     2014                                                                            2015                                    2014
-------------------------------------------------                                           -------------------------------------                                          -------------------------------------                                          ---------------------------------------                                          --------------------------------
GAAP Revenue By Segment:
  Enterprise Intelligence                                                                         $ 177,552                                                                      $ 134,208                                                                      $   658,671                                                                         $              498,901
  Communications Intelligence                                                                       103,230                                                                         89,370                                                                          359,395                                                                                        288,003
  Video Intelligence                                                                                 30,871                                                      32,167                                                       110,370                                                                     120,388
                                                                                            ------------------------------------                                           ------------------------------------                                           --------------------------------------                                           --------------------------------
GAAP Total Revenue                                                                                $ 311,653                                                   $ 255,745                                                   $ 1,128,436                                                      $              907,292
                                                                                            ======= ======= ====================                                           ======= ======= ====================                                           ======= ========= ====================                                           ========== ====================
                                                                                                                                                                                                                                                                                                                                            
Revenue Adjustments Related to Acquisitions:
  Enterprise Intelligence                                                                         $   3,769                                                                      $   1,254                                                                      $    29,032                                                                         $                1,946
  Communications Intelligence                                                                           172                                                                             86                                                                              695                                                                                            616
  Video Intelligence                                                                         --                                              --                                                --                                                                         167
                                                                                            ------------------------------------                                           ------------------------------------                                           --------------------------------------                                           --------------------------------
Total Revenue Adjustments Related to Acquisitions                                                 $   3,941                                                   $   1,340                                                   $    29,727                                                      $                2,729
                                                                                            ======= ======= ====================                                           ======= ======= ====================                                           ======= ========= ====================                                           ========== ====================
                                                                                                                                                                                                                                                                                                                                            
Non-GAAP Revenue By Segment:
  Enterprise Intelligence                                                                         $ 181,321                                                                      $ 135,462                                                                      $   687,703                                                                         $              500,847
  Communications Intelligence                                                                       103,402                                                                         89,456                                                                          360,090                                                                                        288,619
  Video Intelligence                                                                                 30,871                                                      32,167                                                       110,370                                                                     120,555
                                                                                            ------------------------------------                                           ------------------------------------                                           --------------------------------------                                           --------------------------------
Non-GAAP Total Revenue                                                                            $ 315,594                                                   $ 257,085                                                   $ 1,158,163                                                      $              910,021
                                                                                            ======= ======= ====================                                           ======= ======= ====================                                           ======= ========= ====================                                           ========== ====================
                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                 
                                                                                                                                                                                              Table 3
                                                                                                                                                                               VERINT SYSTEMS INC. AND SUBSIDIARIES
                                                                                                                                                                            Reconciliation of GAAP to Non-GAAP Results
                                                                                                                                                                                            (Unaudited)
                                                                                                                                                                                                                                                                               
                                                                                                                                                                 Three Months Ended                                                                                                                                                Year Ended
                                                                                                                                                                     January 31,                                                                                                                                                   January 31,
                                                                                                                ------------------------------------------------------------------------------------------------------------                                                  ------------------------------------------------------------------------------------------------------------
(in thousands, except per share data)                                                                                           2015                                     2014                                                                           2015                                     2014
---------------------------------------------------------------------                                           ----------------------------------                                             ----------------------------------                                             ----------------------------------                                             ----------------------------------
                                                                                                                                                                                                                                                                                                                                                              
Table of Reconciliation from GAAP Gross
Profit to Non-GAAP Gross Profit
---------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                              
GAAP gross profit                                                                                                     $ 202,986                                                                      $ 167,397                                                                      $ 713,288                                                                      $ 600,872
Revenue adjustments related to acquisitions                                                                               3,941                                                                          1,340                                                                         29,727                                                                          2,729
Amortization of acquired technology and backlog                                                                           7,986                                                                          4,349                                                                         31,004                                                                         12,269
Stock-based compensation expenses                                                                                         2,765                                                                            657                                                                          6,256                                                                          2,437
M&A and other adjustments                                                                                                   486                                                       2,568                                                       4,073                                                       2,952  
                                                                                                                ------------------------------------                                           ------------------------------------                                           ------------------------------------                                           ------------------------------------
Non-GAAP gross profit                                                                                                 $ 218,164                                                   $ 176,311                                                   $ 784,348                                                   $ 621,259  
                                                                                                                ======= ======= ====================                                           ======= ======= ====================                                           ======= ======= ====================                                           ======= ======= ====================
                                                                                                                                                                                                                                                                                                                                                              
Table of Reconciliation from GAAP
Operating Income to Non-GAAP Operating Income and Non-GAAP EBITDA
---------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                              
GAAP operating income                                                                                                 $  42,287                                                                      $  39,479                                                                      $  79,111                                                                      $ 122,286
Revenue adjustments related to acquisitions                                                                               3,941                                                                          1,340                                                                         29,727                                                                          2,729
Amortization of acquired technology and backlog                                                                           7,986                                                                          4,349                                                                         31,004                                                                         12,269
Amortization of other acquired intangible assets                                                                         11,039                                                                          6,469                                                                         45,163                                                                         24,662
Stock-based compensation expenses                                                                                        15,905                                                                          9,837                                                                         54,458                                                                         34,991
M&A and other adjustments                                                                                                 7,480                                                       3,976                                                      23,440                                                      13,036  
                                                                                                                ------------------------------------                                           ------------------------------------                                           ------------------------------------                                           ------------------------------------
Non-GAAP operating income                                                                                                88,638                                                      65,450                                                     262,903                                                     209,973  
                                                                                                                ------------------------------------                                           ------------------------------------                                           ------------------------------------                                           ------------------------------------
GAAP depreciation and amortization (1)                                                                                   24,394                                                                         15,201                                                                         96,457                                                                         53,757
Amortization of acquired technology and backlog                                                                          (7,986 )                                                                       (4,349 )                                                                      (31,004 )                                                                      (12,269 )
Amortization of other acquired intangible assets                                                                        (11,039 )                                                                       (6,469 )                                                                      (45,163 )                                                                      (24,662 )
M&A and other adjustments                                                                                        --                                                         (14 )                                                               --                                                         (14 )
                                                                                                                ------------------------------------                                           ------------------------------------                                           ------------------------------------                                           ------------------------------------
Non-GAAP depreciation and amortization                                                                                    5,369                                                       4,369                                                      20,290                                                      16,812  
                                                                                                                ------------------------------------                                           ------------------------------------                                           ------------------------------------                                           ------------------------------------
Non-GAAP EBITDA                                                                                                       $  94,007                                                   $  69,819                                                   $ 283,193                                                   $ 226,785  
                                                                                                                ======= ======= ====================                                           ======= ======= ====================                                           ======= ======= ====================                                           ======= ======= ====================
                                                                                                                                                                                                                                                                                                                                                              
Table of Reconciliation from GAAP Other
Expense, Net to Non-GAAP Other Expense, Net
---------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                              
GAAP other expense, net                                                                                               $ (19,008 )                                                                    $ (22,655 )                                                                    $ (57,708 )                                                                    $ (58,971 )
Losses on early retirements of debt                                                                              --                                                                 --                                                                         12,546                                                                          9,879
Unrealized losses (gains) on derivatives, net                                                                             1,613                                                                           (953 )                                                                         (129 )                                                                         (704 )
Amortization of convertible note discount                                                                                 2,449                                                                 --                                                                          6,014                                                                 --
M&A and other adjustments                                                                                                   573                                                      12,187                                                         494                                                      13,831  
                                                                                                                ------------------------------------                                           ------------------------------------                                           ------------------------------------                                           ------------------------------------
Non-GAAP other expense, net (2)                                                                                       $ (14,373 )                                                                    $ (11,421 )                                                                    $ (38,783 )                                                                    $ (35,965 )
                                                                                                                ======= ======= ====================                                           ======= ======= ====================                                           ======= ======= ====================                                           ======= ======= ====================
                                                                                                                                                                                                                                                                                                                                                              
Table of Reconciliation from GAAP
Provision (Benefit) for Income Taxes to Non-GAAP Provision for
Income Taxes
---------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                              
GAAP provision (benefit) for income taxes                                                                             $  16,789                                                                      $  (7,330 )                                                                    $ (14,999 )                                                                    $   4,539
Non-cash tax adjustments                                                                                                (10,492 )                                                                       10,686                                                      34,621                                                      11,164  
                                                                                                                ------------------------------------                                           ------------------------------------                                           ------------------------------------                                           ------------------------------------
Non-GAAP provision for income taxes                                                                                   $   6,297                                                   $   3,356                                                   $  19,622                                                   $  15,703  
                                                                                                                ======= ======= ====================                                           ======= ======= ====================                                           ======= ======= ====================                                           ======= ======= ====================
                                                                                                                                                                                                                                                                                                                                                              
Table of Reconciliation from GAAP Net
Income Attributable to Verint Systems Inc. to Non-GAAP Net Income
Attributable to Verint Systems Inc.
---------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                              
GAAP net income attributable to Verint Systems Inc.                                                                   $   4,583                                                   $  22,887                                                   $  30,931                                                   $  53,757  
                                                                                                                ------- ------- --------------------                                           ------- ------- --------------------                                           ------- ------- --------------------                                           ------- ------- --------------------
Revenue adjustments related to acquisitions                                                                               3,941                                                                          1,340                                                                         29,727                                                                          2,729
Amortization of acquired technology and backlog                                                                           7,986                                                                          4,349                                                                         31,004                                                                         12,269
Amortization of other acquired intangible assets                                                                         11,039                                                                          6,469                                                                         45,163                                                                         24,662
Stock-based compensation expenses                                                                                        15,905                                                                          9,837                                                                         54,458                                                                         34,991
M&A and other adjustments                                                                                                 8,053                                                                         16,163                                                                         23,934                                                                         26,867
Losses on early retirements of debt                                                                              --                                                                 --                                                                         12,546                                                                          9,879
Unrealized losses (gains) on derivatives, net                                                                             1,613                                                                           (953 )                                                                         (129 )                                                                         (704 )
Amortization of convertible note discount                                                                                 2,449                                                                 --                                                                          6,014                                                                 --
Non-cash tax adjustments                                                                                                 10,492                                                     (10,686 )                                                                      (34,621 )                                                                      (11,164 )
                                                                                                                ------------------------------------                                           ------------------------------------                                           ------------------------------------                                           ------------------------------------
Total GAAP net income adjustments                                                                                        61,478                                                      26,519                                                     168,096                                                      99,529  
                                                                                                                ------------------------------------                                           ------------------------------------                                           ------------------------------------                                           ------------------------------------
Non-GAAP net income attributable to Verint Systems Inc.                                                               $  66,061                                                   $  49,406                                                   $ 199,027                                                   $ 153,286  
                                                                                                                ======= ======= ====================                                           ======= ======= ====================                                           ======= ======= ====================                                           ======= ======= ====================
                                                                                                                                                                                                                                                                                                                                                              
Table of Reconciliation from GAAP Net
Income Attributable to Verint Systems Inc. Common Shares to
Non-GAAP Net Income Attributable to Verint Systems Inc. Common
Shares
---------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                              
GAAP net income attributable to Verint Systems Inc. common shares                                                     $   4,583                                                                      $  22,887                                                                      $  30,931                                                                      $  53,583
Total GAAP net income adjustments                                                                                        61,478                                                      26,519                                                     168,096                                                      99,529  
                                                                                                                ------------------------------------                                           ------------------------------------                                           ------------------------------------                                           ------------------------------------
Non-GAAP net income attributable to Verint Systems Inc. common shares                                                 $  66,061                                                   $  49,406                                                   $ 199,027                                                   $ 153,112  
                                                                                                                ======= ======= ====================                                           ======= ======= ====================                                           ======= ======= ====================                                           ======= ======= ====================
                                                                                                                                                                                                                                                                                                                                                              
Table Comparing GAAP Diluted Net Income
Per Common Share Attributable to Verint Systems Inc. to Non-GAAP
Diluted Net Income Per Common Share Attributable to Verint Systems
Inc.
---------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                              
GAAP diluted net income per common share attributable to Verint                                                       $    0.07                                                   $    0.42                                                   $    0.52                                                   $    0.99  
Systems Inc.
                                                                                                                ======= ======= ====================                                           ======= ======= ====================                                           ======= ======= ====================                                           ======= ======= ====================
                                                                                                                                                                                                                                                                                                                                                              
Non-GAAP diluted net income per common share attributable to Verint                                                   $    1.06                                                   $    0.91                                                   $    3.35                                                   $    2.84  
Systems Inc. (3)
                                                                                                                ======= ======= ====================                                           ======= ======= ====================                                           ======= ======= ====================                                           ======= ======= ====================
                                                                                                                                                                                                                                                                                                                                                              
Shares used in computing GAAP diluted net income per common share                                                        62,081                                                      54,540                                                      59,374                                                      53,878  
                                                                                                                ====================================                                           ====================================                                           ====================================                                           ====================================
                                                                                                                                                                                                                                                                                                                                                              
Shares used in computing non-GAAP diluted net income per common share                                                    62,081                                                      54,540                                                      59,374                                                      54,001  
                                                                                                                ====================================                                           ====================================                                           ====================================                                           ====================================
                                                                                                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                                                                                   January 31,
                                                                                                                                                                                                                                                                              --------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                              2015                                                                           2014
                                                                                                                                                                                                                                                                              -------------------------------------                                          -------------------------------------
Table of Reconciliation from Gross Debt to Net Debt
                                                                                                                                                                                                                                                                                                                                                              
Current maturities of long-term debt                                                                                                                                                                                                                                                $      23                                                                      $   6,555
Long-term debt                                                                                                                                                                                                                                                                        736,779                                                                        635,830
Unamortized debt discounts                                                                                                                                                                                                                                                             74,363                                              --  
                                                                                                                                                                                                                                                                              ------------------------------------                                           ------------------------------------
Gross debt                                                                                                                                                                                                                                                                            811,165                                                     642,385  
                                                                                                                                                                                                                                                                              ------------------------------------                                           ------------------------------------
Less:
Cash and cash equivalents                                                                                                                                                                                                                                                             285,072                                                                        378,618
Restricted cash and bank time deposits                                                                                                                                                                                                                                                 36,920                                                                          6,423
Short-term investments                                                                                                                                                                                                                                                                 35,751                                                      32,049  
                                                                                                                                                                                                                                                                              ------------------------------------                                           ------------------------------------
Net debt                                                                                                                                                                                                                                                                            $ 453,422                                                   $ 225,295  
                                                                                                                                                                                                                                                                              ======= ======= ====================                                           ======= ======= ====================
  
(1) Adjusted for financing fee amortization.
 
(2) For the three months ended January 31, 2015, non-GAAP other
expense, net of $14.4 million was comprised of $6.4 million related
to interest and other expense, and $8.0 million foreign exchange
charges primarily related to balance sheet translations.
 
(3) Excluding $8.0 million in foreign exchange charges related to
balance sheet translations noted above, non-GAAP diluted net income
per common share attributable to Verint Systems Inc. for the three
months ended January 31, 2015 was $1.19.
 
                                                                       
                                                                                                                Table 4
                                                                                                 VERINT SYSTEMS INC. AND SUBSIDIARIES
                                                                                                      Consolidated Balance Sheets
                                                                                                              (Unaudited)
                                                                                                               
                                                                                                                                                                     January 31,
                                                                                                              ------------------------------------------------------------------------------------------------------------------------
 (in thousands, except share and per share data)                                                                               2015                                       2014
-------------------------------------------------------------------                                           ---------------------------------------                                          ---------------------------------------
Assets
Current Assets:
Cash and cash equivalents                                                                                           $   285,072                                                                      $   378,618
Restricted cash and bank time deposits                                                                                   36,920                                                                            6,423
Short-term investments                                                                                                   35,751                                                                           32,049
Accounts receivable, net of allowance for doubtful accounts of $1.1                                                     262,092                                                                          194,312
million and $1.2 million, respectively
Inventories                                                                                                              17,505                                                                           10,693
Deferred cost of revenue                                                                                                  6,722                                                                           10,818
Deferred income taxes                                                                                                    11,176                                                                            9,002
Prepaid expenses and other current assets                                                                                54,954                                                        52,476  
                                                                                                              --------------------------------------                                           --------------------------------------
  Total current assets                                                                                                  710,192                                                       694,391  
                                                                                                              --------------------------------------                                           --------------------------------------
Property and equipment, net                                                                                              62,490                                                                           40,145
Goodwill                                                                                                              1,200,817                                                                          853,389
Intangible assets, net                                                                                                  311,894                                                                          132,847
Capitalized software development costs, net                                                                              10,112                                                                            8,483
Long-term deferred cost of revenue                                                                                       14,555                                                                            9,843
Long-term deferred income taxes                                                                                          10,778                                                                            9,783
Other assets                                                                                                             30,158                                                        24,026  
                                                                                                              --------------------------------------                                           --------------------------------------
  Total assets                                                                                                      $ 2,350,996                                                   $ 1,772,907  
                                                                                                              ======= ========= ====================                                           ======= ========= ====================
                                                                                                                                                                                                
Liabilities and Stockholders’ Equity
Current Liabilities:
Accounts payable                                                                                                    $    72,885                                                                      $    65,656
Accrued expenses and other current liabilities                                                                          221,613                                                                          178,674
Current maturities of long-term debt                                                                                         23                                                                            6,555
Deferred revenue                                                                                                        181,259                                                                          162,124
Deferred income taxes                                                                                                     2,108                                                           474  
                                                                                                              --------------------------------------                                           --------------------------------------
  Total current liabilities                                                                                             477,888                                                       413,483  
                                                                                                              --------------------------------------                                           --------------------------------------
Long-term debt                                                                                                          736,779                                                                          635,830
Long-term deferred revenue                                                                                               20,544                                                                           13,661
Long-term deferred income taxes                                                                                          30,664                                                                           13,358
Other liabilities                                                                                                        80,218                                                        63,457  
                                                                                                              --------------------------------------                                           --------------------------------------
  Total liabilities                                                                                                   1,346,093                                                     1,139,789  
                                                                                                              --------------------------------------                                           --------------------------------------
Commitments and Contingencies
Stockholders’ Equity:
Preferred stock - $0.001 par value; authorized 2,207,000 shares at                                               --                                                                   --
January 31, 2015 and 2014, respectively; none issued.
                                                                                                                                                                                                                  
Common stock - $0.001 par value; authorized 120,000,000 shares.                                                              61                                                                               54
Issued 61,253,000 and 53,907,000 shares; outstanding 60,905,000 and
53,605,000 shares at January 31, 2015 and 2014, respectively.
Additional paid-in capital                                                                                            1,321,455                                                                          924,663
Treasury stock, at cost - 348,000 and 302,000 shares at January 31,                                                     (10,251 )                                                                         (8,013 )
2015 and 2014, respectively.
Accumulated deficit                                                                                                    (219,074 )                                                                       (250,005 )
Accumulated other comprehensive loss                                                                                    (94,335 )                                                                        (39,725 )
                                                                                                              --------------------------------------                                           --------------------------------------
Total Verint Systems Inc. stockholders’ equity                                                                          997,856                                                                          626,974
Noncontrolling interest                                                                                                   7,047                                                         6,144  
                                                                                                              --------------------------------------                                           --------------------------------------
  Total stockholders’ equity                                                                                          1,004,903                                                       633,118  
                                                                                                              --------------------------------------                                           --------------------------------------
  Total liabilities and stockholders’ equity                                                                        $ 2,350,996                                                   $ 1,772,907  
                                                                                                              ======= ========= ====================                                           ======= ========= ====================
                                                                                                                                                                                                                  
                                                                      
                                                                                                             Table 5
                                                                                              VERINT SYSTEMS INC. AND SUBSIDIARIES
                                                                                              Consolidated Statements of Cash Flows
                                                                                                           (Unaudited)
                                                                                                              
                                                                                                                                                            Year Ended January 31,
                                                                                                             --------------------------------------------------------------------------------------------------------------------
(in thousands)                                                                                                               2015                                     2014
------------------------------------------------------------------                                           -------------------------------------                                          -------------------------------------
Cash flows from operating activities:
Net income                                                                                                         $  36,402                                                                      $  58,776
Adjustments to reconcile net income to net cash provided by
operating activities:
Depreciation and amortization                                                                                         99,464                                                                         55,968
Provision for doubtful accounts                                                                                          423                                                                          1,112
Stock-based compensation - equity portion                                                                             46,312                                                                         30,173
Amortization of discount on convertible notes                                                                          6,014                                                                 --
(Benefit) provision for deferred income taxes                                                                        (47,331 )                                                                        2,553
Excess tax benefits from stock award plans                                                                              (298 )                                                                          (64 )
Non-cash (gains) losses on derivative financial instruments, net                                                      (3,986 )                                                                         (346 )
Losses on early retirements of debt                                                                                   12,546                                                                          9,879
Other non-cash items, net                                                                                              8,928                                                                         (1,964 )
Changes in operating assets and liabilities, net of effects of
business combinations:
Accounts receivable                                                                                                  (54,921 )                                                                      (23,387 )
Inventories                                                                                                           (4,223 )                                                                        3,105
Deferred cost of revenue                                                                                                (677 )                                                                       (6,148 )
Prepaid expenses and other assets                                                                                     21,412                                                                         33,487
Accounts payable and accrued expenses                                                                                 41,414                                                                         23,444
Deferred revenue                                                                                                      24,057                                                                         (1,994 )
Other liabilities                                                                                                      8,356                                                                         (6,513 )
Other, net                                                                                                              (167 )                                                                          203  
                                                                                                             ------------------------------------                                           ------------------------------------
Net cash provided by operating activities                                                                            193,725                                                     178,284  
                                                                                                             ------------------------------------                                           ------------------------------------
                                                                                                                                                                                             
Cash flows from investing activities:
Cash paid for business combinations, including adjustments, net of                                                  (605,279 )                                                                      (32,767 )
cash acquired
Purchases of property and equipment                                                                                  (23,134 )                                                                      (15,725 )
Purchases of investments                                                                                             (21,175 )                                                                     (197,749 )
Sales and maturities of investments                                                                                   13,653                                                                        178,820
Settlements of derivative financial instruments not designated as                                                      3,858                                                                           (359 )
hedges
Cash paid for capitalized software development costs                                                                  (6,083 )                                                                       (6,668 )
Change in restricted cash and bank time deposits, including                                                          (36,291 )                                                                        7,677
long-term portion
Other investing activities                                                                                            (2,384 )                                                                        2,575  
                                                                                                             ------------------------------------                                           ------------------------------------
Net cash used in investing activities                                                                               (676,835 )                                                                      (64,196 )
                                                                                                             ------------------------------------                                           ------------------------------------
                                                                                                                                                                                             
Cash flows from financing activities:
Proceeds from borrowings, net of original issuance discount                                                        1,526,750                                                                        646,750
Repayments of borrowings and other financing obligations                                                          (1,361,852 )                                                                     (586,126 )
Proceeds from public issuance of common stock                                                                        274,563                                                                 --
Proceeds from issuance of warrants                                                                                    45,188                                                                 --
Payments for convertible note hedges                                                                                 (60,800 )                                                               --
Payments of debt issuance and other debt-related costs                                                               (29,164 )                                                                       (7,754 )
Proceeds from exercises of stock options                                                                              17,606                                                                         10,896
Cash received in CTI Merger                                                                                   --                                                                         10,370
Dividends paid to noncontrolling interest                                                                             (4,193 )                                                                       (3,579 )
Purchases of treasury stock                                                                                           (2,238 )                                                               --
Excess tax benefits from stock award plans                                                                               298                                                                             64
Payments of contingent consideration for business combinations                                                       (10,445 )                                                                      (16,087 )
(financing portion)
                                                                                                             --------------  --------------------                                           --------------  --------------------
Net cash provided by financing activities                                                                            395,713                                                      54,534  
                                                                                                             ------------------------------------                                           ------------------------------------
Effect of exchange rate changes on cash and cash equivalents                                                          (6,149 )                                                                           23  
                                                                                                             ------------------------------------                                           ------------------------------------
Net (decrease) increase in cash and cash equivalents                                                                 (93,546 )                                                                      168,645
Cash and cash equivalents, beginning of period                                                                       378,618                                                     209,973  
                                                                                                             ------------------------------------                                           ------------------------------------
Cash and cash equivalents, end of period                                                                           $ 285,072                                                   $ 378,618  
                                                                                                             ======= ======= ====================                                           ======= ======= ====================
                                                                                                                                                                                                             
                                                                                                                                                
                                                                                                                                                  Table 6
                                                                                                                                   VERINT SYSTEMS INC. AND SUBSIDIARIES
                                                                                                                         Calculation of Constant Currency Year-Over-Year Non-GAAP
                                                                                                                                              Revenue Growth
                                                                                                                                                (Unaudited)
                                                                                                                                                                                                                              
                                                                                                                                       At December 3, 2014                                                                                                  At March 25, 2015
                                                                                                             ----------------------------------------------------------------------                                          ------------------------------------------------------------------------------
 (in thousands)                                                                                                    Low              High                                                     Low                  High
------------------------------------------------------------------                                           --------------                                          --------------                                          --------------                                          ----------------------
Non-GAAP revenue guidance for the year ending January 31, 2016 (1)                                            $ 1,225,000                                             $ 1,275,000                                             $ 1,200,000                                                     $  1,250,000
Non-GAAP revenue for the year ended January 31, 2015                                                          $ 1,158,163                                             $ 1,158,163                                             $ 1,158,163                                                     $  1,158,163
% change (2)                                                                                                            6%                                                     10%                                                      4%                                                              8%
% impact from change in foreign currency exchange rates (3)                                                             2%                                                      2%                                                      5%                                                              5%
                                                                                                             --------------                                          --------------                                          --------------                                          ----------------------
Constant currency year-over-year non-GAAP revenue growth outlook                                                        8%                                                     12%                                                      9%                                                             13%
                                                                                                                                                                                                                                                                                      
(1) Amounts at December 3, 2014 reflect forecasted non-GAAP
revenue converting foreign currencies into U.S. dollars by
applying the foreign currency exchange rates on or about December
3, 2014. Amounts at March 25, 2015 reflect forecasted non-GAAP
revenue converting foreign currencies into U.S. dollars by
applying the foreign currency exchange rates on or about March 25,
2015.
 
(2) Percentage by which row 1 exceeds row 2.
 
(3) Represents the percentage by which our non-GAAP revenue guidance
was impacted as a result of changes in foreign currency exchange
rates (absent this impact, our non-GAAP revenue guidance would have
been higher by this percentage, assuming all other variables
remained constant). For our December 3, 2014 guidance, the
percentage change is calculated by comparing foreign currency
exchange rates on or about December 3, 2014 to average foreign
currency exchange rates for the first three fiscal quarters of the
year ended January 31, 2015. For our March 25, 2015 guidance, the
percentage change is calculated by comparing foreign currency
exchange rates on or about March 25, 2015 to average foreign
currency exchange rates for the year ended January 31, 2015. For
further information see "Supplemental Information About Constant
Currency" at the end of this press release.
 

Verint Systems Inc. and Subsidiaries Supplemental Information About Non-GAAP Financial Measures

This press release contains non-GAAP financial measures. Tables 2 and 3 include a reconciliation of each non-GAAP financial measure for completed periods presented in this press release to the most directly comparable GAAP financial measure. Non-GAAP financial measures should not be considered in isolation or as a substitute for comparable GAAP financial measures. The non-GAAP financial measures we present have limitations in that they do not reflect all of the amounts associated with our results of operations as determined in accordance with GAAP, and these non-GAAP financial measures should only be used to evaluate our results of operations in conjunction with the corresponding GAAP financial measures. These non-GAAP financial measures do not represent discretionary cash available to us to invest in the growth of our business, and we may in the future incur expenses similar to or in addition to the adjustments made in these non-GAAP financial measures.

We believe that the non-GAAP financial measures we present provide meaningful supplemental information regarding our operating results primarily because they exclude certain non-cash charges or items that we do not believe are reflective of our ongoing operating results when budgeting, planning and forecasting, determining compensation, and when assessing the performance of our business with our individual operating segments or our senior management. With respect to constant currency, we believe such presentation allows investors to measure our financial performance exclusive of foreign currency exchange fluctuations more clearly. We believe that these non-GAAP financial measures also facilitate the comparison by management and investors of results between periods and among our peer companies. However, those companies may calculate similar non-GAAP financial measures differently than we do, limiting their usefulness as comparative measures.

Adjustments to Non-GAAP Financial Measures

Revenue adjustments related to acquisitions. We exclude from our non-GAAP revenue the impact of fair value adjustments required under GAAP relating to acquired customer support contracts which would have otherwise been recognized on a standalone basis. We exclude these adjustments from our non-GAAP financial measures because these are not reflective of our ongoing operations.

Amortization of acquired intangible assets, including acquired technology and backlog. When we acquire an entity, we are required under GAAP to record the fair values of the intangible assets of the acquired entity and amortize those assets over their useful lives. We exclude the amortization of acquired intangible assets, including acquired technology and backlog, from our non-GAAP financial measures. These expenses are excluded from our non-GAAP financial measures because they are non-cash charges. In addition, these amounts are inconsistent in amount and frequency and are significantly impacted by the timing and size of acquisitions. Thus, we also exclude these amounts to provide better comparability of pre- and post-acquisition operating results.

Stock-based compensation expenses. We exclude stock-based compensation expenses related to stock options, restricted stock awards and units, stock bonus plans and phantom stock from our non-GAAP financial measures. These expenses are excluded from our non-GAAP financial measures because they are primarily non-cash charges.

M&A and other adjustments. We exclude from our non-GAAP financial measures legal, other professional fees and certain other expenses associated with acquisitions, whether or not consummated, and certain extraordinary transactions, including reorganizations and restructurings. Also excluded are changes in the fair value of contingent consideration liabilities associated with business combinations. These expenses are excluded from our non-GAAP financial measures because we believe that they are not reflective of our ongoing operations.

Unrealized (gains) losses on derivatives, net. We exclude from our non-GAAP financial measures unrealized gains and losses on foreign currency derivatives not designated as hedges. These gains and losses are excluded from our non-GAAP financial measures because they are non-cash transactions which are highly variable from period to period and which we believe are not reflective of our ongoing operations.

Losses on early retirements of debt. We exclude from our non-GAAP financial measures losses on early retirements of debt attributable to refinancing or repaying our debt because we believe it is not reflective of our ongoing operations.

Amortization of convertible note discount. Under GAAP, certain convertible debt instruments that may be settled in cash upon conversion are required to be bifurcated into separate liability (debt) and equity (conversion option) components in a manner that reflects the issuer’s non-convertible debt borrowing rate. As a result, for GAAP purposes, we are required to recognize imputed interest expense in amounts significantly in excess of the coupon rate on our $400.0 million of 1.50% convertible notes. The difference between the imputed interest expense and the coupon interest expense is excluded from our non-GAAP financial measures because we believe that this non-cash expense is not reflective of ongoing operations.

Non-cash tax adjustments. We exclude from our non-GAAP financial measures non-cash tax adjustments, which represent the difference between the amount of taxes we expect to pay related to current year income, and our GAAP tax provision on an annual basis. On a quarterly basis, this adjustment reflects our expected annual effective tax rate on a cash basis.

Supplemental Information About Constant Currency

Because we operate on a global basis and transact business in many currencies, fluctuations in foreign currency exchange rates can affect our consolidated U.S. dollar operating results. To facilitate the assessment of our performance excluding the effect of foreign currency rate fluctuations, we calculate our non-GAAP revenue, cost of revenue, and operating expenses on both an as-reported basis and a constant currency basis, allowing for comparison of results between periods as if foreign currency exchange rates had remained constant. We perform our constant currency calculations by translating current-period foreign currency revenues and expenses into U.S. dollars using prior-period average foreign currency exchange rates or hedge rates, as applicable, rather than current period exchange rates.

Our financial outlook for revenue and diluted earnings per share, which is provided on a non-GAAP basis, reflects foreign currency exchange rates approximately consistent with rates in effect when the outlook is provided. Percentage growth rates in revenue provided in our financial outlook are expressed on a constant currency basis, and are calculated by translating projected foreign currency revenue for the current period into U.S. dollars using prior-period average foreign currency exchange rates, and comparing the result to actual revenue reported for the prior period. We believe that constant currency growth rates, which exclude the impact of foreign currency exchange rate changes, facilitate the assessment of underlying business trends.

http://cts.businesswire.com/ct/CT?id=bwnews&sty=20150325006343r1&sid=cmtx6&distro=nx&lang=en

SOURCE: Verint Systems Inc.

Investor Relations 
Verint Systems Inc. 
Alan Roden, 631-962-9304 
alan.roden@verint.com


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