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Nice Reports Record Revenues for 2018, Bolstered by Cloud Offering

Nice Reports Record Revenues for 2018, Bolstered by Cloud Offering

The company benefited from a 28% year-over-year increase in revenues for its cloud segment, which reached $461 million for the full year

Lilach Baumer  :  2019-02-14T15:27:13..
Nasdaq-listed software company Nice Ltd. published its fourth quarter and annual results for 2018 Thursday, reporting revenues of $1.445 billion for the full year, an 8.4% increase year-over-year. The company was bolstered by a 28% year-over-year increase in revenues for its cloud segment, which reached $461 million for the full year. Net income was $159.3 million, compared to $143.3 million in 2017. Fully diluted earnings per share for 2018 stood at $2.52, compared to $2.31 for 2017.

For the fourth quarter, Nice reported revenues of $411 million, a 5% year-over-year increase. Net income was $62.3 million, compared to $79.4 million in 2017, and fully diluted EPS were $0.98 compared to $1.27 in the fourth quarter of 2017.

Nice forecasts non-GAAP revenues of $370 million to $380 million for the first quarter of 2019 (compared to $337.6 million in the first quarter of 2018). For the full year, the company forecasts revenues of $1.558 billion to $1.582 billion (compared to non-GAAP revenues of $1.453 billion in 2018). Non-GAAP fully diluted EPS are expected to be $5.08 to $5.28 (non-GAAP EPS for 2018 were $4.75).

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