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© 2016 Verint Systems Inc. All Rights Reserved Worldwide.
December 2016
Actionable Intelligence®
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© 2016 Verint Systems Inc. All Rights Reserved Worldwide.
DisclaimersForward Looking StatementsThis presentation contains "forward-looking statements," including statements regarding expectations,predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect relating toVerint Systems Inc. These forward-looking statements are not guarantees of future performance andthey 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 todiffer materially from those expressed in or implied by the forward-looking statements. The forward-looking statements contained in this presentation are made as of the date of this presentation and,except as required by law, Verint assumes no obligation to update or revise them, or to providereasons why actual results may differ. For a more detailed discussion of how these and other risks,uncertainties, and assumptions could cause Verint’s actual results to differ materially from thoseindicated in its forward-looking statements, see Verint’s prior filings with the Securities and ExchangeCommission.
Non-GAAP Financial MeasuresThis presentation includes financial measures which are not prepared in accordance with generallyaccepted accounting principles (“GAAP”), including certain constant currency measures. For adescription of these non-GAAP financial measures, including the reasons management uses eachmeasure, and reconciliations of these non-GAAP financial measures to the most directly comparablefinancial measures prepared in accordance with GAAP, please see the appendices to thispresentation, Verint’s earnings press releases, as well as the GAAP to non-GAAP reconciliation foundunder the Investor Relations tab on Verint’s website.
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© 2016 Verint Systems Inc. All Rights Reserved Worldwide.
A Smarter World with Actionable Intelligence®
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Crucial insights that enable decision-makers to anticipate, respond and take action
Actionable Intelligence
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© 2016 Verint Systems Inc. All Rights Reserved Worldwide.
Global Market Leader
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10,000+ Customers in approx. 180 Countries
$1 Billion+ Actionable Intelligence Company
4,900 Verint
ProfessionalsWorldwide
More Than 80%
of the Fortune 100
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Expansion of Total Addressable Market
Actionable Intelligence is a necessity in a dynamicworld of massive information growth
$3 BILLION
20122016
Total Addressable Market based on Verint estimate.
$8 BILLION
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• Over $1B R&D investment in last 10 years
Non-GAAP revenue for year ending 1/31, see appendices for reconciliation. FYE1/31/16 is at constant currency (indicated by the gray bar), see “Supplemental Information About Constant Currency” in appendices for further information.
• 700+ patents & applications
• 1,300 R&D professionals
• Advanced Actionable Intelligence Platform
Culture of Innovation Revenue Growth
Innovation Driving Long-Term Growth
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© 2016 Verint Systems Inc. All Rights Reserved Worldwide.
Advanced Actionable Intelligence Platform
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Classification
Correlation
Anomaly Detector
Identity Analyzer
Predictive
Forensics
Pluggable Analyzers
Dashboard
Analysis Workbench
Trending
Case Management
Workflow Management
Collaboration
Next Best Action
Real-time Alert & Notification
Pluggable Visualizations
Data Cleansing
Data Fusion
Data Enrichment
Unstructured to Structured
Data Preparation
Operational
Transactional
Telecommunications
Social Media
Payload and Files
Endpoint
Network
Web
COMMON SERVICES & ADMINISTRATION
ANALYSISENGINES
ENGAGE AND ACT
DATA PROCESSING
DATA CAPTURE
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© 2016 Verint Systems Inc. All Rights Reserved Worldwide.
Amazing Things Happen When You Gain Insights From Data
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Customer Engagement Optimization
Advanced Actionable Intelligence Platform
Cyber Intelligence
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© 2016 Verint Systems Inc. All Rights Reserved Worldwide.
Customer-centric organizations seek to offer personalized, omnichannel, more effective customer engagement
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Demand for our solutions is being driven by organizations’ needs forintelligence to create an engaged workforce and smarter customer engagements
Customer Engagement Optimization
Engagement Management
Customer Analytics
Security and Compliance
Workforce Optimization
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© 2016 Verint Systems Inc. All Rights Reserved Worldwide.
Broad portfolio available in cloud, on-premises or hybrid models directly from Verint and through partners
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Expecting close to 60% of Customer Engagement revenueto be recurring in FYE January 2017
Customer Engagement Optimization Go-to-Market Strategy
Extensive Partner Network
Hybrid CloudDeployment Models
Broad Portfolio:Start Anywhere
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© 2016 Verint Systems Inc. All Rights Reserved Worldwide.
Government and enterprises seek innovative solutionsto enhance security
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Demand for our solutions is being driven by organizations’ needs for intelligence to enhance security and make security
operations more effective
Cyber Intelligence
Cyber Security
Situational Intelligence
Government Cyber Intelligence
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StrategicConsulting
Managed Services
Implementation
Training
Cloud
Support
Partnering for Customer Success
Hosted
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© 2016 Verint Systems Inc. All Rights Reserved Worldwide.
Financial Highlights
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Non-GAAP Revenue Trends
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
F/XAPACEMEAAmericas
$1,158 $1,175$40
$369
$572
$675$704 $727
$796
Note: Financial data is non-GAAP. See appendices for reconciliation. FYE Jan 2016 reported non-GAAP revenue of $1,135 million is $1,175 million at constant currency, as adjusted for the impact of foreign exchange. For further information see “Supplemental Information About Constant Currency” in the appendices.
($ in millions)
$848$910
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Fiscal year ended January 31,
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© 2016 Verint Systems Inc. All Rights Reserved Worldwide.
Non-GAAP Revenue by Region and Product/Service
Note: Percentages based on non-GAAP revenue for FYE January 31, 2016.
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40%
60%ProductServices51%
31%
18%AmericasEMEAAPAC
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© 2016 Verint Systems Inc. All Rights Reserved Worldwide.
FYE Jan 2017 and Jan 2018 Non-GAAP OutlookFYE Jan 2017 Outlook• Customer Engagement Solutions
• Targeting mid-single digit revenue growth on a constant currency revenue basis• Cyber Intelligence Solutions
• Expect strong finish to the year• Investing for growth, as we believe the decline in security is temporary
FYE Jan 2018 Preliminary Outlook• Customer Engagement Solutions
• Expect mid-single digit revenue growth on a constant currency basis.• Cyber Intelligence Solutions
• Expect mid-to-high single digit revenue growth on a constant currency basis.• Overall, we expect our earnings to grow slightly faster than revenue with some operating
margin improvement
Capital Allocation• Stock repurchase program: More than $100 million still authorized under the program
• Continue our strategy of tuck-in and other acquisitions
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Growing Portfolio(1)CYBER INTELLIGENCE SOLUTIONS
Speech and Text Analytics
Enterprise and Digital Feedback Management
Engagement Analytics
Identity Authentication and Fraud Detection
Quality Management
Recording
Workforce Management
Desktop and Process Analytics
Performance Management—Scorecards, eLearning, Coaching and Gamification
Employee Desktop
Case Management
Knowledge Management
Email and Secure Messaging
Voice and Mobile Self-Service
Web Self-Service and Co-Browse
Private Messaging and Live Chat
Social Engagement
Communities
Banking Fraud and Compliance
Public Safety 911 Centers
Actionable Intelligence Solutions
Cyber Security
Network Intelligence
Off-Air Intelligence
Web Intelligence
Fusion Intelligence
Lawful Interception Compliance
Situation Intelligence
Enterprise Video Management
CUSTOMER ENGAGEMENT SOLUTIONS
~ 2/3
~ 1/3
(1) Based on expected mix for FYE January 2017.Early in our third quarter, we moved part of our video and situation intelligence segment to our enterprise intelligence
segment and part to our cyber intelligence segment. Starting in our third quarter, we reported our results as two segments named Customer Engagement Solutions and Cyber Intelligence Solutions.
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© 2016 Verint Systems Inc. All Rights Reserved Worldwide.
Efficient Capital Structure
($ in millions)
Net DebtCapital Structure Highlights
Net Debt/Adjusted EBITDA
As of January 31,
Fiscal year ended January 31,
Notes: -Financial data is non-GAAP. See appendices for reconciliation.-Average interest rate excludes the impact of amortization of discounts and deferred financing fees.-Net debt excludes convertible note discounts and other unamortized discounts and issuance costs associated with our debt, which are required under GAAP. See appendices for reconciliation.
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$523 $501$431 $400 $437
$344$228
$453$391
$490
2008 2009 2010 2011 2012 2013 2014 2015 2016 Q32017
5.5x
3.5x
2.x 2.x 2.2x 1.7x1.x
1.6x 1.5x2.1x
2008 2009 2010 2011 2012 2013 2014 2015 2016 Q32017
Capital Structure (as of 10/31/16)
• $321 million of cash and short-term investments
• $410m of term loans and $400m of convertible notes
• Rating Agencies
• Moody’s: Ba3
• S&P: BB
Track Record of De-Levering
• Net Debt/Adjusted EBITDA : ~2.1x
Low Cost Debt
• Average Interest: ~2.5%
• Average Maturity: ~3.5 years
• Equity
• Expect ~63.1 million average diluted shares for FYE Jan 2017 (excluding benefit from future share repurchases)
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© 2016 Verint Systems Inc. All Rights Reserved Worldwide.
Long-Term Growth Opportunity• Leader in Actionable Intelligence Solutions
• Long-term growth opportunity driven by the need to gain insights from data
• Customer Engagement Solutions
• Organizations seeking to optimize customer engagement through actionable intelligence
• Verint offers the industry’s broadest Customer Engagement Optimization portfolio
• Cyber Intelligence Solutions
• Security challenges growing, driving the need for innovative security intelligence
• Verint has a global presence and leading edge security portfolio
• Long history of growth driven by innovation and domain expertise
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Appendices
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About Non-GAAP Financial MeasuresThe following tables include reconciliations of certain financial measures not prepared in accordance with Generally Accepted Accounting
Principles, consisting of non-GAAP revenue, non-GAAP gross profit and gross margin, non-GAAP operating income and operating margin,
non-GAAP other income (expense), net, non-GAAP provision (benefit) for income taxes and non-GAAP effective income tax rate, non-GAAP
net income attributable to Verint Systems Inc., non-GAAP net income per common share attributable to Verint Systems Inc., adjusted
EBITDA, net debt, and constant currency measures to the most directly comparable financial measures prepared in accordance with GAAP.
We believe these non-GAAP financial measures, used in conjunction with the corresponding GAAP measures, provide investors with useful
supplemental information about the financial performance of our business by:
• facilitating the comparison of our financial results and business trends between periods, including by excluding certain items
that either can vary significantly in amount and frequency, are based upon subjective assumptions, or in certain cases are
unplanned for or difficult to forecast,
• facilitating the comparison of our financial results and business trends with other technology companies who publish similar
non-GAAP measures, and
• allowing investors to see and understand key supplementary metrics used by our management to run our business, including
for budgeting and forecasting, resource allocation, and compensation matters.
We also make these non-GAAP financial measures available because a number of our investors have informed us that they find this
supplemental information useful.
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About Non-GAAP Financial MeasuresNon-GAAP financial measures should not be considered in isolation as substitutes for, or superior to, 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. Other companies may calculate similar non-GAAP financial measures
differently than we do, limiting their usefulness as comparative measures.
Our non-GAAP financial measures are calculated by making the following adjustments to our 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 stand-alone basis. We
believe that it is useful for investors to understand the total amount of revenue that we and the acquired company would have
recognized on a stand-alone basis under GAAP, absent the accounting adjustment associated with the business acquisition. Our non-
GAAP revenue also reflects certain adjustments from aligning an acquired company’s revenue recognition policies to our policies. We
believe that our non-GAAP revenue measure helps management and investors understand our revenue trends and serves as a useful
measure of ongoing business performance.
• Amortization of acquired technology and other acquired intangible assets. 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, from our non-GAAP financial measures because they are
inconsistent in amount and frequency and are significantly impacted by the timing and size of acquisitions. We also exclude these
amounts to provide easier comparability of pre- and post-acquisition operating results.
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About Non-GAAP Financial Measures• Stock-based compensation expenses. We exclude stock-based compensation expenses related to restricted stock awards, stock bonus
programs, bonus share programs, and other stock-based awards from our non-GAAP financial measures. We evaluate our performance
both with and without these measures because stock-based compensation is typically a non-cash expense and can vary significantly over
time based on the timing, size and nature of awards granted, and is influenced in part by certain factors which are generally beyond our
control, such as the volatility of the price of our common stock. In addition, measurement of stock-based compensation is subject to varying
valuation methodologies and subjective assumptions, and therefore we believe that excluding stock-based compensation from our non-
GAAP financial measures allows for meaningful comparisons of our current operating results to our historical operating results and to other
companies in our industry.
• Unrealized gains and losses on certain derivatives, net. We exclude from our non-GAAP financial measures unrealized gains and losses on
certain foreign currency derivatives which are not designated as hedges under accounting guidance. We exclude unrealized gains and
losses on foreign currency derivatives that serve as economic hedges against variability in the cash flows of recognized assets or liabilities,
or of forecasted transactions. These contracts, if designated as hedges under accounting guidance, would be considered “cash flow”
hedges. These unrealized 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. Upon settlement of these foreign currency derivatives, any realized gain or loss is included in
our non-GAAP financial measures.
• Amortization of convertible note discount. Our non-GAAP financial measures exclude the amortization of the imputed discount on our
convertible notes. 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 assumed non-
convertible debt borrowing rate. For GAAP purposes, we are required to recognize imputed interest expense on the difference between our
assumed non-convertible debt borrowing rate and the coupon rate on our $400.0 million of 1.50% convertible notes. This difference is
excluded from our non-GAAP financial measures because we believe that this expense is based upon subjective assumptions and does not
reflect the cash cost of our convertible debt.
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About Non-GAAP Financial Measures• Acquisition Expenses, net. In connection with acquisition activity (including with respect to acquisitions that are not consummated), we incur
expenses, including legal, accounting, and other professional fees, integration costs, changes in the fair value of contingent consideration
obligations, and other costs. Integration costs may consist of information technology expenses as systems are integrated across the
combined entity, consulting expenses, marketing expenses, and professional fees, as well as non-cash charges to write-off or impair the
value of redundant assets. We exclude these expenses from our non-GAAP financial measures because they are unpredictable, can vary
based on the size and complexity of each transaction, and are unrelated to our continuing operations or to the continuing operations of the
acquired businesses.
• Restructuring Expenses. We exclude restructuring expenses from our non-GAAP financial measures, which include employee termination
costs, facility exit costs, certain professional fees, asset impairment charges, and other costs directly associated with resource realignments
incurred in reaction to changing strategies or business conditions. All of these costs can vary significantly in amount and frequency based on
the nature of the actions as well as the changing needs of our business and we believe that excluding them provides easier comparability of
pre- and post-restructuring operating results.
• Impairment Charges and Other Adjustments. We exclude from our non-GAAP financial measures asset impairment charges other than those
associated with restructuring or acquisition activity, rent expense for redundant facilities, and gains or losses on sales of property, all of which
are unusual in nature and can vary significantly in amount and frequency.
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About Non-GAAP Financial Measures• Non-GAAP income tax adjustments. We exclude our GAAP provision (benefit) for income taxes from our non-GAAP measures of net
income attributable to Verint Systems Inc., and instead include a non-GAAP provision for income taxes, determined by applying a non-
GAAP effective income tax rate to our income before provision for income taxes, as adjusted for the non-GAAP items described above.
The non-GAAP effective income tax rate is generally based upon the income taxes we expect to pay in the reporting year. We adjust our
non-GAAP effective income tax rate to exclude current-year tax payments or refunds associated with prior-year income tax returns and
related amendments which were significantly delayed as a result of our previous extended filing delay. Our GAAP effective income tax
rate can vary significantly from year to year as a result of tax law changes, settlements with tax authorities, changes in the geographic mix
of earnings including acquisition activity, changes in the projected realizability of deferred tax assets, and other unusual or period-specific
events, all of which can vary in size and frequency. We believe that our non-GAAP effective income tax rate removes much of this
variability and facilitates meaningful comparisons of operating results across periods. Our non-GAAP effective income tax rate for the year
ending January 31, 2017 is currently approximately 9%, and was 8.1% for the year ended January 31, 2016. We evaluate our non-GAAP
effective income tax rate on an ongoing basis and it can change from time to time. Our non-GAAP income tax rate can differ materially
from our GAAP effective income tax rate.
• In-process research and development. For periods ended prior to February 1, 2009, we excluded from our non-GAAP financial measures
the fair value of any incomplete in-process research and development project of an acquired company that had not yet reached
technological feasibility and had no known alternative future use, and was therefore charged to our operating results in the period of the
acquisition, under then-applicable accounting guidance. These expenses were excluded from our non-GAAP financial measures because
they could vary significantly based upon the size and nature of the associated business acquisition. It should also be noted that such
charges are no longer recognized under GAAP.
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About Non-GAAP Financial Measures• Other legal expenses (recoveries). We exclude from our non-GAAP financial measures other legal fees and settlements associated with
litigations assumed in connection with acquisitions. We excluded these items from our non-GAAP financial measures because they are
not reflective of our ongoing operations.
• Expenses related to our previous extended filing delay. We exclude from our non-GAAP financial measures expenses related to our
restatement of previously filed financial statements and our extended filing delay. These expenses included professional fees and
related expenses as well as expenses associated with a special cash retention program. These expenses were excluded from our non-
GAAP financial measures because they were unusual in nature and 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 these charges can vary significantly in amount and frequency, are difficult to predict, and
may result from actions we take in response to conditions in the capital markets which are out of our control.
• Settlement with OCS. In the year ended January 31, 2007, we recorded a charge related to our July 31, 2006 settlement with the Office
of Chief Scientist in Israel (“OCS”), pursuant to which we exited a royalty-bearing program and the OCS accepted a settlement of our
royalty obligations under this program. We exclude from our non-GAAP financial measures expenses associated with exiting this
program because this was an unusual, nonrecurring transaction which was not reflective of our ongoing operations.
• Gain on sale of land. We exclude from our non-GAAP financial measures the gain from the sale of a parcel of land during the year
ended January 31, 2007. This gain is excluded from our non-GAAP financial measures because this was an unusual, nonrecurring
transaction which was not reflective of our ongoing operations.
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About Non-GAAP Financial MeasuresAdjusted EBITDA
Adjusted EBITDA is a non-GAAP measure defined as net income (loss) before interest expense, interest income, income taxes, depreciation
expense, amortization expense, revenue adjustments related to acquisitions, restructuring expenses, acquisition expenses, and other
expenses excluded from our non-GAAP financial measures as described above. We believe that adjusted EBITDA is also commonly used by
investors to evaluate operating performance between competitors because it helps reduce variability caused by differences in capital
structures, income taxes, stock-based compensation accounting policies, and depreciation and amortization policies. Adjusted EBITDA is also
used by credit rating agencies, lenders, and other parties to evaluate our creditworthiness.
Net Debt
Net Debt is a non-GAAP measure defined as the sum of long-term and short-term debt on our consolidated balance sheet, excluding
unamortized discounts and issuance costs, less the sum of cash and cash equivalents, restricted cash and bank time deposits, and short-term
investments. We use this non-GAAP financial measure to help evaluate our capital structure, financial leverage, and our ability to reduce debt
and to fund investing and financing activities, and believe that it provides useful information to investors.
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Supplemental Information About Constant CurrencyBecause 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 exchange rate fluctuations, we calculate our GAAP and 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
results into U.S. dollars using prior-period average foreign currency exchange rates or hedge rates, as applicable, rather than current
period exchange rates. We believe that constant currency measures, which exclude the impact of changes in foreign currency
exchange rates, facilitate the assessment of underlying business trends.
Unless otherwise indicated, our financial outlook for revenue, operating margin, 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.
We also incur foreign exchange gains and losses resulting from the revaluation and settlement of monetary assets and liabilities that
are denominated in currencies other than the entity’s functional currency. We periodically report our historical non-GAAP diluted net
income per share both inclusive and exclusive of these net foreign exchange gains or losses. Our financial outlook for diluted earnings
per share includes net foreign exchange gains or losses incurred to date, if any, but does not include potential future gains or losses.
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GAAP to Non-GAAP Reconciliation
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($ in millions)
FYE January 31, 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 April 30, 2016 July 31, 2016 October 31, 2016 Revenue ReconciliationGAAP revenue 368.8$ 534.5$ 669.5$ 703.6$ 726.8$ 782.6$ 839.5$ 907.3$ 1,128.4$ 1,130.3$ 245.4$ 261.9$ 258.9$ Revenue adjustments related to acquisitions - 37.3 5.9 - - 13.6 8.6 2.7 29.8 4.3 3.6 2.3 1.1 Non-GAAP revenue 368.8$ 571.8$ 675.4$ 703.6$ 726.8$ 796.2$ 848.1$ 910.0$ 1,158.2$ 1,134.6$ 249.0$ 264.2$ 260.0$
Gross Profit ReconciliationGAAP gross profit 177.5$ 304.5$ 411.3$ 463.7$ 488.5$ 514.3$ 557.5$ 600.9$ 713.3$ 701.4$ 144.7$ 159.5$ 155.7$ GAAP gross margin 48.1% 57.0% 61.4% 65.9% 67.2% 65.7% 66.4% 66.2% 63.2% 62.1% 59.0% 60.9% 60.1%Revenue adjustments related to acquisitions - 37.3 5.9 - - 13.6 8.6 2.7 29.8 4.3 3.6 2.3 1.1 Amortization of acquired technology and backlog 3.7 7.6 9.0 8.0 9.1 12.4 14.8 12.3 31.0 35.8 9.2 9.1 9.7 Settlement w ith OCS 19.2 - - - - - - - - - - - - Stock-based compensation expenses 1.7 4.5 5.4 5.9 6.2 3.3 2.9 2.4 6.2 7.2 1.5 2.3 1.8 Acquisition expenses - - - - - - - 2.2 3.4 0.1 (0.2) 0.2 - Restructuring expenses - - - - - 0.4 0.5 0.3 0.6 3.0 0.9 - 0.8 Impairment charges 3.9 0.4 - - - - - 0.5 - 3.2 - - - Other adjustments - - - - - - - - - - - - - Expenses related to restatement and extended f iling delay - 2.4 - - - - - - - - - - - Non-GAAP gross profit 206.0$ 356.7$ 431.6$ 477.6$ 503.8$ 544.0$ 584.3$ 621.3$ 784.3$ 755.0$ 159.7$ 173.4$ 169.1$ Non-GAAP gross margin 55.9% 62.4% 63.9% 67.9% 69.3% 68.3% 68.9% 68.3% 67.7% 66.5% 64.1% 65.6% 65.0%
Three Months Ended
GAAP Non GAAP Rec UPDATED NEW
($ in millions)
Three Months EndedThree Months EndedThree Months EndedThree Months EndedKana Three Months Ended
FYE January 31,2006200720082009201020112012Apr 30, 2012Jul 31, 2012Oct 31, 2012Jan 31, 20132013April 30, 2013July 31, 2013October 31, 2013January 31, 20142014April 30, 2014July 31, 2014October 31, 2014January 31, 20152015April 30, 2015July 31, 2015 (1)October 31, 2015January 31, 20162016Q1 Q2 Q3Q4April 30, 2016July 31, 2016October 31, 2016January 31, 20172017
Revenue Reconciliation
GAAP revenue$ 278.8$ 368.8$ 534.5$ 669.5$ 703.6$ 726.8$ 782.6$ 196.6$ 212.4$ 201.5$ 229.0$ 839.5$ 204.8$ 222.5$ 224.3$ 255.7$ 907.3$ 257.4$ 276.8$ 282.6$ 311.7$ 1,128.4$ 269.5$ 295.9$ 284.0$ 280.8$ 1,130.3$ 28.8$ 34.4$ 35.3$ 40.2$ 245.4$ 261.9$ 258.9
Revenue adjustments related to acquisitions- 0- 037.35.9- 0- 013.63.62.61.11.28.60.60.30.51.42.711.97.95.93.929.80.81.21.31.04.30.40.20.20.13.62.31.1
Non-GAAP revenue$ 278.8$ 368.8$ 571.8$ 675.4$ 703.6$ 726.8$ 796.2$ 200.2$ 215.1$ 202.6$ 230.1$ 848.1$ 205.4$ 222.8$ 224.8$ 257.1$ 910.0$ 269.3$ 284.7$ 288.5$ 315.6$ 1,158.2$ 270.3$ 297.1$ 285.3$ 281.8$ 1,134.6$ 29.2$ 34.5$ 35.5$ 40.3$ 249.0$ 264.2$ 260.0$ - 0$ - 0
Gross Profit Reconciliation
GAAP gross profit$ 144.1$ 177.5$ 304.5$ 411.3$ 463.7$ 488.5$ 514.3$ 128.3$ 136.4$ 136.2$ 156.5$ 557.5$ 131.5$ 149.8$ 152.2$ 167.4$ 600.9$ 154.6$ 174.3$ 181.5$ 203.0$ 713.3$ 166.4$ 177.3$ 178.5$ 179.1$ 701.4$ 14.7$ 19.8$ 19.6$ 21.0$ 144.7$ 159.5$ 155.7
GAAP gross margin51.7%48.1%57.0%61.4%65.9%67.2%65.7%65.3%64.2%67.6%68.4%66.4%64.2%67.3%67.9%65.5%66.2%ERROR:#DIV/0!60.1%63.0%64.2%65.1%ERROR:#DIV/0!63.2%61.7%59.9%62.9%63.8%62.1%51.1%57.5%55.5%52.2%59.0%60.9%60.1%
Revenue adjustments related to acquisitions- 0- 037.35.9- 0- 013.63.62.61.11.28.60.60.30.51.42.711.97.95.93.929.80.81.21.31.04.30.40.20.20.13.62.31.1
Amortization of acquired technology and backlog5.03.77.69.08.09.112.43.83.63.73.714.83.62.41.94.312.36.48.68.18.031.08.09.99.18.935.81.71.71.71.79.29.19.7
Settlement with OCS- 019.2- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Stock-based compensation expenses- 01.74.55.45.96.23.30.70.60.80.72.90.40.70.70.72.41.11.21.22.86.20.62.32.22.17.2- 0- 0- 0- 01.52.31.8
Acquisition expenses- 0- 0- 0- 0- 0- 0- 02.23.40.1(0.2)0.2- 0
Restructuring expenses- 0- 0- 0- 0- 00.40.50.30.63.00.9- 00.8
Impairment charges3.90.4- 0- 0- 0- 0- 00.5- 03.2- 0- 0- 0
Other adjustments- 0- 0- 0- 0- 0- 0- 0- 0- 00.40.1- 00.30.1- 02.5- 04.50.1(1.1)0.5- 00.43.20.22.5- 0- 0- 0- 0- 0- 0- 0- 0
Expenses related to restatement and extended filing delay- 0- 02.4- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Non-GAAP gross profit$ 149.1$ 206.0$ 356.7$ 431.6$ 477.6$ 503.8$ 544.0$ 136.4$ 143.3$ 142.2$ 162.3$ 584.3$ 136.4$ 153.3$ 155.3$ 176.3$ 621.3$ - 0$ 178.5$ 192.1$ 195.6$ 218.2$ - 0$ 784.3$ 176.2$ 193.9$ 191.3$ 193.6$ 755.0$ 17.3$ 22.2$ 22.0$ 23.3$ 159.7$ 173.4$ 169.1$ - 0$ - 0
Non-GAAP gross margin 53.5%55.9%62.4%63.9%67.9%69.3%68.3%68.1%66.6%70.2%70.5%68.9%66.4%68.8%69.1%68.6%68.3%ERROR:#DIV/0!66.3%67.5%67.8%69.1%ERROR:#DIV/0!67.7%65.2%65.3%67.0%68.7%66.5%59.3%64.2%61.9%57.8%64.1%65.6%65.0%
($ in millions)
Three Months EndedThree Months EndedThree Months EndedThree Months EndedKana Three Months Ended
FYE January 31,2006200720082009201020112012Apr 30, 2012Jul 31, 2012Oct 31, 2012Jan 31, 20132013April 30, 2013July 31, 2013October 31, 2013January 31, 20142014April 30, 2014July 31, 2014October 31, 2014January 31, 20152015April 30, 2015July 31, 2015 (1)October 31, 2015January 31, 20162016Q1 Q2 Q3Q4April 30, 2016July 31, 2016October 31, 2016January 31, 20172017
Operating Income (Loss) Reconciliation
GAAP operating (loss) income$ 4.1$ (47.3)$ (114.6)$ (15.0)$ 65.7$ 73.1$ 86.5$ 21.0$ 26.3$ 16.8$ 35.5$ 99.6$ 13.7$ 31.3$ 37.8$ 39.5$ 122.3$ 1.0$ 11.5$ 24.4$ 42.3$ 79.1$ 9.6$ 8.7$ 22.3$ 27.2$ 67.9$ (0.4)$ 4.2$ 4.5$ 0.7$ (11.3)$ 3.7$ 5.5
As a percentage of GAAP revenue1.5%-12.8%-21.4%-2.2%9.3%10.1%11.0%10.7%12.4%8.3%15.5%11.9%6.7%14.1%16.9%15.4%13.5%ERROR:#DIV/0!0.4%4.2%8.6%13.6%ERROR:#DIV/0!7.0%3.6%2.9%7.9%9.7%6.0%-1.4%12.2%12.8%1.8%-4.6%1.4%2.1%
Revenue adjustments related to acquisitions- 0- 037.35.9- 0- 013.63.62.61.11.28.60.60.30.51.42.711.97.95.93.929.80.81.21.31.04.30.40.20.20.13.62.31.1- 0- 0
Amortization of acquired technology and backlog5.03.77.69.08.09.112.43.83.63.73.714.83.62.41.94.312.36.48.68.18.031.08.09.99.18.935.81.71.71.71.79.29.19.7
Amortization of other acquired intangible assets1.33.219.725.222.321.522.96.26.06.16.124.46.06.06.26.524.711.211.611.411.045.210.710.710.910.843.12.62.62.62.411.311.510.2
Settlement with OCS- 019.2- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
In-process research and development2.9- 06.7- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Other legal expenses (recoveries)2.6- 08.7(4.3)- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Stock-based compensation expenses1.218.831.136.044.246.827.95.75.96.76.925.26.29.29.79.835.011.514.412.615.954.414.919.016.414.364.5- 0- 0- 04.515.316.414.0
Expenses related to restatement and extended filing delay- 03.741.428.754.528.91.0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Gain on sale of land- 0(0.8)- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Acquisition expenses- 0- 0- 00.81.76.811.611.418.77.01.72.93.5
Restructuring expenses- 03.35.70.2- 02.53.32.33.017.44.92.34.9
Impairment charges25.023.326.0- 0- 0- 0- 00.5- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 03.2- 0- 0- 0
Other adjustments- 0- 011.03.2- 03.53.0(0.8)(1.5)11.37.61.76.52.20.34.0(1.2)9.04.62.37.51.77.39.53.28.51.00.10.20.31.30.10.20.1
Non-GAAP operating income$ 17.1$ 25.5$ 75.4$ 120.4$ 195.6$ 184.6$ 176.6$ 39.4$ 43.0$ 45.7$ 61.0$ 189.2$ 36.7$ 51.4$ 56.4$ 65.5$ 210.0$ - 0$ 51.0$ 58.6$ 64.7$ 88.6$ - 0$ 262.9$ 51.3$ 59.0$ 63.2$ 70.7$ 244.2$ 4.3$ 8.9$ 9.4$ 10.7$ 34.8$ 48.4$ 49.0$ - 0$ - 0
As a percentage of non-GAAP revenue6.1%6.9%13.2%17.8%27.8%25.4%22.2%19.7%20.0%22.6%26.5%22.3%17.9%23.1%25.1%25.5%23.1%ERROR:#DIV/0!18.9%20.6%22.4%28.1%ERROR:#DIV/0!22.7%19.0%19.9%22.1%25.1%21.5%14.8%25.9%26.4%26.5%14.0%18.3%18.9%
Other Income (Expense) Reconciliation
GAAP other income (expense), net$ 8.0$ 7.8$ (55.2)$ (43.9)$ (41.5)$ (34.6)$ (40.3)$ (31.8)$ (18.5)$ (9.9)$ (7.8)$ (22.7)$ (59.0)$ (14.3)$ (16.3)$ (8.1)$ (19.0)$ (57.7)$ (7.9)$ (11.8)$ (12.3)$ (12.6)$ (44.7)$ (4.6)$ (13.8)$ (9.6)
Losses on early retirements of debt- 0- 0- 0- 0- 0- 08.1- 09.70.2- 0- 09.97.15.5- 0- 012.5- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Unrealized (gains) losses on derivatives, net- 0- 026.7(1.8)(8.0)(6.0)(0.4)0.1(0.4)0.10.6(1.0)(0.7)0.7(0.9)(1.6)1.6(0.1)0.4(0.3)(0.1)- 0- 00.30.10.1
Amortization of convertible note discount- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 01.12.42.46.02.52.52.52.610.12.62.72.7
Acquisition expenses- 0- 0- 0- 0- 00.11.213.80.53.00.1- 0- 0
Restructuring expenses- 0- 0- 0- 0- 0- 0- 0- 0- 00.40.2- 0(0.2)
Impairment charges- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 02.4- 0
Other adjustments- 0- 0- 0- 0- 0- 0- 0- 00.11.00.312.3- 00.1- 0(0.1)0.6- 0- 00.21.61.4- 0- 0- 0- 0
Non-GAAP other income (expense), net$ 8.0$ 7.8$ (28.5)$ (45.7)$ (49.5)$ (40.6)$ (32.5)$ - 0$ - 0$ - 0$ - 0$ (30.5)$ (9.1)$ (8.6)$ (6.9)$ (11.4)$ (36.0)$ (6.4)$ (10.6)$ (7.4)$ (14.4)$ (38.8)$ (5.0)$ (9.4)$ (8.3)$ (8.6)$ (31.2)$ (1.4)$ (8.6)$ (7.0)$ - 0$ - 0
($ in millions, except share and per share data; shares in thousands)
Three Months EndedThree Months EndedThree Months EndedThree Months EndedThree Months Ended
FYE January 31,2006200720082009201020112012Apr 30, 2012Jul 31, 2012Oct 31, 2012Jan 31, 20132013April 30, 2013July 31, 2013October 31, 2013January 31, 20142014April 30, 2014July 31, 2014October 31, 2014January 31, 20152015April 30, 2015July 31, 2015 (1)October 31, 2015January 31, 20162016April 30, 2016July 31, 2016October 31, 2016January 31, 20172017
Tax Provision Reconciliation
GAAP provision for (benefit from) income taxes$ 9.6$ 0.1$ 27.7$ 19.7$ 7.1$ 9.9$ 5.5$ 9.0$ 3.1$ 2.8$ 6.0$ (7.3)$ 4.5$ (42.1)$ 5.5$ 4.8$ 16.8$ (15.0)$ 0.9$ 2.6$ 1.6$ (4.2)$ 1.0$ 0.3$ 1.1$ 3.4
GAAP effective income tax rate0.4%-16.3%-33.4%29.4%25.8%12.0%-16.3%-16.3%-16.3%-16.3%13.2%-16.3%-16.3%-16.3%-16.3%7.2%-16.3%-16.3%-16.3%-16.3%-16.3%-16.3%-70.1%-16.3%-16.3%-16.3%-16.3%-16.3%-16.3%4.1%-2.1%-10.6%-82.4%
Non-GAAP tax adjustments(5.4)3.2(23.6)(16.4)4.6(1.4)11.19.2(0.1)1.7(1.2)10.711.246.4(1.2)(0.1)(10.5)34.63.01.73.28.416.22.72.60.6
Non-GAAP provision for income taxes$ 4.2$ 3.3$ 4.1$ 3.3$ 11.7$ 8.5$ 16.6$ - 0$ - 0$ - 0$ - 0$ 18.2$ 3.0$ 4.5$ 4.8$ 3.4$ 15.7$ - 0$ 4.3$ 4.3$ 4.7$ 6.3$ - 0$ 19.6$ - 0$ 3.9$ 4.3$ 4.8$ 4.2$ - 0$ 17.2$ 3.0$ 3.7$ 4.0$ - 0$ - 0
Non-GAAP effective income tax rate9.9%8.8%4.4%8.0%6.3%11.5%11.4%9.0%8.8%8.1%8.9%9.1%9.6%
Net (Loss) Income Attributable to Verint Systems Inc. Reconciliation
GAAP net (loss) income attributable to Verint Systems Inc.$ 1.7$ (40.5)$ (198.6)$ (80.4)$ 15.6$ 25.6$ 37.0$ 54.0$ (9.2)$ 17.5$ 22.5$ 22.9$ 53.8$ 28.0$ (12.3)$ 10.7$ 4.6$ 30.9$ (0.4)$ (7.1)$ 7.6$ 17.5$ 17.6$ (17.5)$ (11.7)$ (8.2)
Total GAAP net (loss) income adjustments18.469.6240.4150.0117.4106.986.881.732.619.920.626.599.511.554.141.061.5168.141.751.141.739.2173.646.747.445.4
Non-GAAP net income attributable to Verint Systems Inc.$ 20.1$ 29.1$ 41.8$ 69.6$ 133.0$ 132.5$ 123.8$ - 0$ - 0$ - 0$ - 0$ 135.7$ 23.4$ 37.4$ 43.1$ 49.4$ 153.3$ 39.5$ 41.8$ 51.7$ 66.1$ 199.0$ 41.3$ 44.0$ 49.3$ 56.7$ 191.2$ 29.2$ 35.7$ 37.2$ - 0$ - 0
Net (Loss) Income Attributable to Verint Systems Inc. Common Shares
GAAP net (loss) income attributable to Verint Systems Inc. common shares$ 1.7$ (40.5)$ (207.3)$ (93.5)$ 2.0$ 11.4$ 22.2$ 38.5$ (9.3)$ 17.5$ 22.5$ 22.9$ 53.6$ 28.0$ (12.3)$ 10.7$ 4.6$ 30.9$ (0.4)$ (7.1)$ 7.6$ 17.5$ 17.6$ (17.5)$ (11.7)$ (8.2)
Total GAAP net (loss) income adjustments18.469.6240.4150.0117.4106.986.8- 0- 0- 0- 081.732.619.920.626.599.511.554.141.061.5168.141.751.141.739.2173.646.747.445.4
Non-GAAP net income attributable to Verint Systems Inc. common shares$ 20.1$ 29.1$ 33.1$ 56.5$ 119.4$ 118.3$ 109.0$ - 0$ - 0$ - 0$ - 0$ 120.2$ 23.3$ 37.4$ 43.1$ 49.4$ 153.1$ 39.5$ 41.8$ 51.7$ 66.1$ 199.0$ 41.3$ 44.0$ 49.3$ 56.7$ 191.2$ 29.2$ 35.7$ 37.2$ - 0$ - 0
GAAP diluted net (loss) income per common share attributable to Verint Systems Inc.$ (1.26)$ (6.43)$ (2.88)$ 0.06$ 0.31$ 0.56$ 0.96$ 0.99$ 0.52$ 0.28$ (0.28)$ (0.19)$ (0.13)
Non-GAAP diluted net income per common share attributable to Verint Systems Inc.$ 0.62$ 0.88$ 1.00$ 1.65$ 3.09$ 2.79$ 2.47$ 2.64$ 0.44$ 0.70$ 0.80$ 0.91$ 2.84$ 0.72$ 0.72$ 0.84$ 1.06$ 3.35$ 0.66$ 0.70$ 0.78$ 0.90$ 3.04$ 0.46$ 0.57$ 0.59
GAAP diluted weighted-average shares used in computing net income (loss) per common share32,15632,22132,39433,12737,17939,49940,31253,87859,37462,92162,25862,66862,895
Additional weighted-average anti-dilutive shares applicable to non-GAAP net income per common share attributable to Verint Systems Inc823814440-------676260355
Additional weighted-average shares from assumed conversion of preferred stock into common stock applicable to non-GAAP net income per common share attributable to Verint Systems Inc--9,4649,83610,22310,62411,043123----- 0
Non-GAAP diluted weighted-average shares used in computing net income per common share32,62032,97933,03542,29842,96347,40250,12351,35553,26653,63753,94654,54054,00155,01858,17961,49262,08159,37462,38962,77362,77862,90062,92162,93462,92863,250
($ in millions)
Three Months EndedThree Months EndedThree Months EndedThree Months EndedThree Months Ended
FYE January 31,2006200720082009201020112012Apr 30, 2012Jul 31, 2012Oct 31, 2012Jan 31, 20132013April 30, 2013July 31, 2013October 31, 2013January 31, 20142014April 30, 2014July 31, 2014October 31, 2014January 31, 20152015April 30, 2015July 31, 2015 (2)October 31, 2015January 31, 20162016April 30, 2016July 31, 2016October 31, 2016January 31, 20172017
Adjusted EBITDA Reconciliation
GAAP net (loss) income attributable to Verint Systems Inc.$ 1.7$ (40.5)$ (198.6)$ (80.4)$ 15.6$ 25.6$ 37.0$ - 0$ - 0$ - 0$ - 0$ 54.0$ (9.2)$ 17.5$ 22.5$ 22.9$ 53.8$ - 0$ 28.0$ (12.3)$ 10.7$ 4.6$ - 0$ 30.9$ (0.4)$ (7.1)$ 7.6$ 17.5$ 17.6ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!$ (17.5)$ (11.7)$ (8.2)$ - 0$ - 0
Net income attributable to noncontrolling interest0.81.01.11.81.53.03.64.85.05.51.11.30.81.34.61.30.60.8
Provision (benefit) for income taxes9.60.127.719.77.19.95.5-0-0-0-09.03.12.86.0(7.3)4.5-0(42.1)5.54.816.8-0(15.0)0.92.61.6(4.2)1.0-0-0-0-00.31.13.4-0-0
Other (income) expense, net(8.0)(7.8)55.243.941.534.640.3-0-0-0-031.818.59.97.822.759.0-014.316.38.119.0-057.77.911.812.312.644.7-0-0-0-04.613.89.6-0-0
GAAP depreciation & amortization (1)17.819.345.353.547.846.851.013.613.713.713.954.913.912.312.415.253.822.625.224.324.496.524.326.626.326.0103.20.50.40.40.527.527.927.6
Revenue adjustments related to acquisitions- 0-037.35.9-0-013.63.62.61.11.28.60.60.30.51.42.7-011.97.95.93.9-029.80.81.21.31.0-04.30.40.20.20.13.62.31.1-0-0-0
Stock-based compensation expenses1.218.831.136.044.246.827.95.75.96.76.925.26.29.29.79.835.0-011.514.412.615.9-054.414.919.016.414.364.5- 0- 0- 04.515.316.414.0- 0- 0
Settlement with OCS- 019.2-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0- 0- 0- 0- 0- 0- 0- 0- 0- 0
In-process research and development2.9-06.7-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Other legal expenses (recoveries)2.6-08.7(4.3)-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Expenses related to restatement and extended filing delay- 03.741.428.754.528.91.0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Gain on sale of land- 0(0.8)-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Acquisition expenses-0-0-00.81.76.8-0-0-0-011.6-0-0-0-011.4-0-0-0-0-0-018.7-0-0-0-0-0-07.01.72.93.5
Restructuring expenses-03.35.50.2-02.5-0-0-0-03.3-0-0-0-02.3-0-0-0-0-0-03.0-0-0-0-0-0-017.34.92.24.1
Impairment charges21.122.926.0-0-0-0-0-0-0-0-0-0-0-0-00.5-0-0-0-0-0-0-0-0-0-0-0-0-03.2- 0- 0- 0
Other adjustments- 0-010.93.2-02.72.8(0.8)(1.5)11.37.61.66.52.20.34.0(1.2)-09.04.62.37.5-01.7-07.39.53.28.5-01.00.10.20.31.30.20.20.1- 0- 0- 0
Adjusted EBITDA$ 28.5$ 34.1$ 93.0$ 139.5$ 213.2$ 200.0$ 192.0$ 22.1$ 20.7$ 32.9$ 29.6$ 204.8$ 39.6$ 54.2$ 59.2$ 68.7$ 226.8$ - 0$ 55.2$ 61.6$ 68.7$ 92.1$ - 0$ 283.2$ 56.8$ 64.9$ 69.5$ 77.0$ 268.4ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!$ 41.9$ 55.7$ 56.0$ - 0$ - 0
(1) Adjusted for patent and financing fee amortization.
Proof of Non-GAAP EBITDA on old schedule$ 28.5$ 34.1$ 93.0$ 139.5$ 213.2$ 200.0$ 192.0ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!$ 204.8ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!$ 226.8ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!$ 283.2$ 56.9$ 65.0$ 268.4ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!$ - 0
Proof (0.0)(0.0)(0.0)0.00.00.0(0.0)ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!0.0ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!-0ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!-0(0.1)(0.1)-0ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!55.7
Total items to add to Adjusted EBITDA rec- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Proof including items above to add to Adjusted EBITDA(0.0)(0.0)(0.0)0.00.00.0(0.0)ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!0.0ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!-0ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!-0(0.1)(0.1)ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!41.955.7
GAAP Non GAAP REVENUE Reconcili
($ in millions)
Three Months EndedThree Months EndedThree Months EndedThree Months EndedThree Months Ended
April 30, 2015July 31, 2015October 31, 2015January 31, 2016April 30, 2016July 31, 2016October 31, 2016January 31, 2016Oct 31, 2012Jan 31, 20132013April 30, 2013July 31, 2013October 31, 2013January 31, 20142014April 30, 2014July 31, 2014October 31, 2014January 31, 20152015April 30, 2015July 31, 2015 (2)October 31, 2015January 31, 20162016April 30, 2016July 31, 2016October 31, 2016January 31, 20172017
GAAP Revenue by Segment:
Customer Engagement$ 165.6$ 174.8$ 175.7$ 178.9$ 168.9$ 177.3$ 172.8
Cyber Intelligence103.9121.1108.4101.976.584.686.1
GAAP Total Revenue$ 269.5$ 295.9$ 284.1$ 280.8$ 245.4$ 261.9$ 258.9
Revenue Adjustments Related to Acquisitions:
Customer Engagement$ 0.7$ 0.6$ 1.1$ 0.9$ 3.5$ 2.1$ 1.1
Cyber Intelligence0.20.60.10.10.10.2-0
Total Revenue Adjustments Related to Acquisitions$ 0.9$ 1.2$ 1.2$ 1.0$ 3.6$ 2.3$ 1.1
Non-GAAP Revenue by Segment:
Customer Engagement$ 166.3$ 175.4$ 176.8$ 179.8$ 172.4$ 179.4$ 173.9
Cyber Intelligence104.1121.7108.5102.076.684.886.1
Non-GAAP Total Revenue$ 270.4$ 297.1$ 285.3$ 281.8$ 249.0$ 264.2$ 260.0
Totals166.3175.4176.8179.8172.4179.4173.9
104.1121.7108.510276.684.886.1
270.4297.1285.3281.8249.0264.2260
check- 0- 0- 0- 0- 0- 0- 0
269.5295.9284.1280.8245.4261.9258.9
4.33.62.31.1
Tax calc
Years FYEThree Months Ended
20072008200920102011201220132014201520164/30/167/31/1610/31/16
GAAP operating income (loss)(47,139)(114,630)(15,026)65,67973,10586,47899,553122,28679,11167,852(11,291)3,749
GAAP other expense, net7,796(55,186)(43,880)(41,471)(34,580)(40,321)(31,789)(58,971)(57,708)(44,672)(4,572)(13,769)
GAAP provision for income taxes14127,72919,6717,1089,9405,5328,9604,539(14,999)9523301,058
GAAP effective income tax rate-0.4%-16.3%-33.4%29.4%25.8%12.0%13.2%7.2%-70.1%4.1%-2.1%-10.6%ERROR:#DIV/0!
Non-cash tax adjustments3,182(23,616)(16,352)4,553(1,412)11,0979,20111,16434,62116,2132,6442,586
Non-GAAP provision for income taxes3,3234,1133,31911,6618,52816,62918,16115,70319,62217,1652,9743,644-
Non-GAAP effective income tax rate9.9%8.8%4.4%8.0%6.3%11.5%11.4%9.0%8.8%8.1%8.9%9.1%ERROR:#DIV/0!
Non-GAAP operating income (loss)25,63275,405120,444195,627176,553176,553189,172209,973262,903244,21434,79548,411
Non-GAAP other expense, net7,796(28,483)(45,687)(49,520)(40,566)(32,509)(30,517)(35,965)(38,783)(31,231)(1,354)(8,484)
GAAP Non GAAP Rec OLD
($ in millions)
Three Months EndedThree Months EndedThree Months EndedThree Months EndedKana Three Months Ended
FYE January 31,2006200720082009201020112012Apr 30, 2012Jul 31, 2012Oct 31, 2012Jan 31, 20132013April 30, 2013July 31, 2013October 31, 2013January 31, 20142014April 30, 2014July 31, 2014October 31, 2014January 31, 20152015April 30, 2015July 31, 2015 (1)October 31, 2015January 31, 20162016Q1 Q2 Q3Q4April 30, 2016July 31, 2016October 31, 2016January 31, 20172017
Revenue Reconciliation
GAAP revenue$ 278.8$ 368.8$ 534.5$ 669.5$ 703.6$ 726.8$ 782.6$ 196.6$ 212.4$ 201.5$ 229.0$ 839.5$ 204.8$ 222.5$ 224.3$ 255.7$ 907.3$ 257.4$ 276.8$ 282.6$ 311.7$ 1,128.4$ 269.5$ 295.9$ 284.0$ 280.8$ 1,130.3$ 28.8$ 34.4$ 35.3$ 40.2$ 245.4$ 261.9$ 258.9
Revenue adjustments related to acquisitions- 0- 037.35.9- 0- 013.63.62.61.11.28.60.60.30.51.42.711.97.95.93.929.80.81.21.31.04.30.40.20.20.13.62.21.1
Non-GAAP revenue$ 278.8$ 368.8$ 571.8$ 675.4$ 703.6$ 726.8$ 796.2$ 200.2$ 215.1$ 202.6$ 230.1$ 848.1$ 205.4$ 222.8$ 224.8$ 257.1$ 910.0$ 269.3$ 284.7$ 288.5$ 315.6$ 1,158.2$ 270.3$ 297.1$ 285.3$ 281.8$ 1,134.6$ 29.2$ 34.5$ 35.5$ 40.3$ 249.0$ 264.1$ 260.0$ - 0$ - 0
Gross Profit Reconciliation
GAAP gross profit$ 144.1$ 177.5$ 304.5$ 411.3$ 463.7$ 488.5$ 514.3$ 128.3$ 136.4$ 136.2$ 156.5$ 557.5$ 131.5$ 149.8$ 152.2$ 167.4$ 600.9$ 154.6$ 174.3$ 181.5$ 203.0$ 713.3$ 166.4$ 177.3$ 178.5$ 179.1$ 701.4$ 14.7$ 19.8$ 19.6$ 21.0$ 144.7$ 159.5$ 156.3
GAAP gross margin51.7%48.1%57.0%61.4%65.9%67.2%65.7%65.3%64.2%67.6%68.4%66.4%64.2%67.3%67.9%65.5%66.2%ERROR:#DIV/0!60.1%63.0%64.2%65.1%ERROR:#DIV/0!63.2%61.7%59.9%62.9%63.8%62.1%51.1%57.5%55.5%52.2%59.0%60.9%60.4%
Revenue adjustments related to acquisitions- 0- 037.35.9- 0- 013.63.62.61.11.28.60.60.30.51.42.711.97.95.93.929.80.81.21.31.04.30.40.20.20.13.62.21.1
Amortization of acquired technology and backlog5.04.37.69.08.09.112.43.83.63.73.714.83.62.41.94.312.36.48.68.18.031.08.09.99.18.935.81.71.71.71.79.29.19.1
Settlement with OCS- 019.2- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Stock-based compensation expenses- 01.74.55.45.96.23.30.70.60.80.72.90.40.70.70.72.41.11.21.22.86.20.62.32.22.17.2- 0- 0- 0- 01.52.31.8
Acquisition expenses- 0- 0- 0- 0- 0- 0- 02.23.40.1(0.2)0.2- 0
Restructuring expenses- 0- 0- 0- 0- 00.40.50.30.63.00.90.10.8
Impairment charges3.40.4- 0- 0- 0- 0- 00.5- 03.2- 0- 0- 0
Other adjustments- 0- 0- 0- 0- 0- 0- 0- 0- 00.40.1- 00.30.1- 02.5- 04.50.1(1.1)0.5- 00.43.20.22.5- 0- 0- 0- 0- 0- 0- 0- 0
Expenses related to restatement and extended filing delay- 0- 02.4- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Non-GAAP gross profit$ 149.1$ 206.0$ 356.7$ 431.6$ 477.6$ 503.8$ 544.0$ 136.4$ 143.3$ 142.2$ 162.3$ 584.3$ 136.4$ 153.3$ 155.3$ 176.3$ 621.3$ - 0$ 178.5$ 192.1$ 195.6$ 218.2$ - 0$ 784.3$ 176.2$ 193.9$ 191.3$ 193.6$ 755.0$ 17.3$ 22.2$ 22.0$ 23.3$ 159.7$ 173.4$ 169.1$ - 0$ - 0
Non-GAAP gross margin 53.5%55.9%62.4%63.9%67.9%69.3%68.3%68.1%66.6%70.2%70.5%68.9%66.4%68.8%69.1%68.6%68.3%ERROR:#DIV/0!66.3%67.5%67.8%69.1%ERROR:#DIV/0!67.7%65.2%65.3%67.0%68.7%66.5%59.3%64.2%61.9%57.8%64.1%65.6%65.0%
($ in millions)
Three Months EndedThree Months EndedThree Months EndedThree Months EndedKana Three Months Ended
FYE January 31,2006200720082009201020112012Apr 30, 2012Jul 31, 2012Oct 31, 2012Jan 31, 20132013April 30, 2013July 31, 2013October 31, 2013January 31, 20142014April 30, 2014July 31, 2014October 31, 2014January 31, 20152015April 30, 2015July 31, 2015 (1)October 31, 2015January 31, 20162016Q1 Q2 Q3Q4April 30, 2016July 31, 2016October 31, 2016January 31, 20172017
Operating Income (Loss) Reconciliation
GAAP operating (loss) income$ 4.1$ (47.3)$ (114.6)$ (15.0)$ 65.7$ 73.1$ 86.5$ 21.0$ 26.3$ 16.8$ 35.5$ 99.6$ 13.7$ 31.3$ 37.8$ 39.5$ 122.3$ 1.0$ 11.5$ 24.4$ 42.3$ 79.1$ 9.6$ 8.7$ 22.3$ 27.2$ 67.9$ (0.4)$ 4.2$ 4.5$ 0.7$ (11.3)$ 3.7$ 5.5
As a percentage of GAAP revenue1.5%-12.8%-21.4%-2.2%9.3%10.1%11.0%10.7%12.4%8.3%15.5%11.9%6.7%14.1%16.9%15.4%13.5%ERROR:#DIV/0!0.4%4.2%8.6%13.6%ERROR:#DIV/0!7.0%3.6%2.9%7.9%9.7%6.0%-1.4%12.2%12.8%1.8%-4.6%1.4%2.1%
Revenue adjustments related to acquisitions- 0- 037.35.9- 0- 013.63.62.61.11.28.60.60.30.51.42.711.97.95.93.929.80.81.21.31.04.30.40.20.20.13.62.21.1- 0- 0
Amortization and impairment of acquired technology and backlog5.04.37.69.08.09.112.43.83.63.73.714.83.62.41.94.312.36.48.68.18.031.08.09.99.18.935.81.71.71.71.79.29.19.1
Amortization of other acquired intangible assets1.33.219.725.222.321.522.96.26.06.16.124.46.06.06.26.524.711.211.611.411.045.210.710.710.910.843.12.62.62.62.411.311.510.9
Settlement with OCS- 019.2- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
In-process research and development2.9- 06.7- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Other legal expenses (recoveries)2.6- 08.7(4.3)- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Stock-based compensation expenses1.218.831.136.044.246.827.95.75.96.76.925.26.29.29.79.835.011.514.412.615.954.414.919.016.414.364.5- 0- 0- 04.515.316.414.0
Expenses related to restatement and extended filing delay- 03.741.428.754.528.91.0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Gain on sale of land- 0(0.8)- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Impairments of goodwill and other acquired intangible assets21.122.926.0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Acquisition expenses- 0- 0- 00.81.76.811.611.418.77.01.72.93.5
Restructuring expenses- 03.35.70.2- 02.53.32.33.017.44.92.44.9
Impairment charges3.40.4- 0- 0- 0- 0- 00.5- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 03.2
Other adjustments- 0- 011.03.2- 03.53.0(0.8)(1.5)11.37.61.76.52.20.34.0(1.2)9.04.62.37.51.77.39.53.28.51.00.10.20.31.30.10.2- 0
Non-GAAP operating income$ 17.1$ 25.5$ 75.4$ 120.4$ 195.6$ 184.6$ 176.6$ 39.4$ 43.0$ 45.7$ 61.0$ 189.2$ 36.7$ 51.4$ 56.4$ 65.5$ 210.0$ - 0$ 51.0$ 58.6$ 64.7$ 88.6$ - 0$ 262.9$ 51.3$ 59.0$ 63.2$ 70.7$ 244.2$ 4.3$ 8.9$ 9.4$ 10.7$ 34.8$ 48.4$ 49.0$ - 0$ - 0
As a percentage of non-GAAP revenue6.1%6.9%13.2%17.8%27.8%25.4%22.2%19.7%20.0%22.6%26.5%22.3%17.9%23.1%25.1%25.5%23.1%ERROR:#DIV/0!18.9%20.6%22.4%28.1%ERROR:#DIV/0!22.7%19.0%19.9%22.1%25.1%21.5%14.8%25.9%26.4%26.5%14.0%18.3%18.9%
Other Income (Expense) Reconciliation
GAAP other income (expense), net$ 8.0$ 7.8$ (55.2)$ (43.9)$ (41.5)$ (34.6)$ (40.3)$ (31.8)$ (18.5)$ (9.9)$ (7.8)$ (22.7)$ (59.0)$ (14.3)$ (16.3)$ (8.1)$ (19.0)$ (57.7)$ (7.9)$ (11.8)$ (12.3)$ (12.6)$ (44.7)$ (4.6)$ (13.8)$ (9.6)
Losses on early retirements of debt- 0- 0- 0- 0- 0- 08.1- 09.70.2- 0- 09.97.15.5- 0- 012.5- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Unrealized (gains) losses on derivatives, net- 0- 026.7(1.8)(8.0)(6.0)(0.4)0.1(0.4)0.10.6(1.0)(0.7)0.7(0.9)(1.6)1.6(0.1)0.4(0.3)(0.1)- 0- 00.30.10.1
Amortization of convertible note discount- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 01.12.42.46.02.52.52.52.610.12.62.72.7
Acquisition expenses- 0- 0- 0- 0- 00.11.213.80.53.00.1- 0- 0
Restructuring expenses- 0- 0- 0- 0- 0- 0- 0- 0- 00.40.20.1(0.2)
Impairment charges- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 02.4- 0
Other adjustments- 0- 0- 0- 0- 0- 0- 0- 00.11.00.312.3- 00.1- 0(0.1)0.6- 0- 00.21.61.4- 0- 0- 0- 0
Non-GAAP other income (expense), net$ 8.0$ 7.8$ (28.5)$ (45.7)$ (49.5)$ (40.6)$ (32.5)$ - 0$ - 0$ - 0$ - 0$ (30.5)$ (9.1)$ (8.6)$ (6.9)$ (11.4)$ (36.0)$ (6.4)$ (10.6)$ (7.4)$ (14.4)$ (38.8)$ (5.0)$ (9.4)$ (8.3)$ (8.6)$ (31.2)$ (1.4)$ (8.5)$ (7.0)$ - 0$ - 0
($ in millions, except share and per share data)
Three Months EndedThree Months EndedThree Months EndedThree Months EndedThree Months Ended
FYE January 31,2006200720082009201020112012Apr 30, 2012Jul 31, 2012Oct 31, 2012Jan 31, 20132013April 30, 2013July 31, 2013October 31, 2013January 31, 20142014April 30, 2014July 31, 2014October 31, 2014January 31, 20152015April 30, 2015July 31, 2015 (1)October 31, 2015January 31, 20162016April 30, 2016July 31, 2016October 31, 2016January 31, 20172017
Tax Provision Reconciliation
GAAP provision for (benefit from) income taxes$ 9.6$ 0.1$ 27.7$ 19.7$ 7.1$ 9.9$ 5.5$ 9.0$ 3.1$ 2.8$ 6.0$ (7.3)$ 4.5$ (42.1)$ 5.5$ 4.8$ 16.8$ (15.0)$ 0.9$ 2.6$ 1.6$ (4.2)$ 1.0$ 0.3$ 1.1$ 3.4
GAAP effective income tax rate0.4%-16.3%-33.4%29.4%25.8%12.0%-16.3%-16.3%-16.3%-16.3%13.2%-16.3%-16.3%-16.3%-16.3%7.2%-16.3%-16.3%-16.3%-16.3%-16.3%-16.3%-70.1%-16.3%-16.3%-16.3%-16.3%-16.3%-16.3%4.1%-2.1%-10.6%-82.4%
Non-GAAP tax adjustments(5.4)3.2(23.6)(16.4)4.6(1.4)11.19.2(0.1)1.7(1.2)10.711.246.4(1.2)(0.1)(10.5)34.63.01.73.28.416.22.72.60.6
Non-GAAP provision for income taxes$ 4.2$ 3.3$ 4.1$ 3.3$ 11.7$ 8.5$ 16.6$ - 0$ - 0$ - 0$ - 0$ 18.2$ 3.0$ 4.5$ 4.8$ 3.4$ 15.7$ - 0$ 4.3$ 4.3$ 4.7$ 6.3$ - 0$ 19.6$ - 0$ 3.9$ 4.3$ 4.8$ 4.2$ - 0$ 17.2$ 3.0$ 3.7$ 4.0$ - 0$ - 0
Non-GAAP effective income tax rate9.9%8.8%4.4%8.0%6.3%11.5%11.4%9.0%8.8%8.1%8.9%9.1%9.6%
Net (Loss) Income Attributable to Verint Systems Inc. Reconciliation
GAAP net (loss) income attributable to Verint Systems Inc.$ 1.7$ (40.5)$ (198.6)$ (80.4)$ 15.6$ 25.6$ 37.0$ 54.0$ (9.2)$ 17.5$ 22.5$ 22.9$ 53.8$ 28.0$ (12.3)$ 10.7$ 4.6$ 30.9$ (0.4)$ (7.1)$ 7.6$ 17.5$ 17.6$ (17.5)$ (11.7)$ (8.2)
Total GAAP net (loss) income adjustments18.469.6240.4150.0117.4106.986.881.732.619.920.626.599.511.554.141.061.5168.141.751.141.739.2173.646.747.445.4
Non-GAAP net income attributable to Verint Systems Inc.$ 20.1$ 29.1$ 41.8$ 69.6$ 133.0$ 132.5$ 123.8$ - 0$ - 0$ - 0$ - 0$ 135.7$ 23.4$ 37.4$ 43.1$ 49.4$ 153.3$ 39.5$ 41.8$ 51.7$ 66.1$ 199.0$ 41.3$ 44.0$ 49.3$ 56.7$ 191.2$ 29.2$ 35.7$ 37.2$ - 0$ - 0
Net (Loss) Income Attributable to Verint Systems Inc. Common Shares
GAAP net (loss) income attributable to Verint Systems Inc. common shares$ 1.7$ (40.5)$ (207.3)$ (93.5)$ 2.0$ 11.4$ 22.2$ 38.5$ (9.3)$ 17.5$ 22.5$ 22.9$ 53.6$ 28.0$ (12.3)$ 10.7$ 4.6$ 30.9$ (0.4)$ (7.1)$ 7.6$ 17.5$ 17.6$ (17.5)$ (11.7)$ (8.2)
Total GAAP net (loss) income adjustments18.469.6240.4150.0117.4106.986.8- 0- 0- 0- 081.732.619.920.626.599.511.554.141.061.5168.141.751.141.739.2173.646.747.445.4
Non-GAAP net income attributable to Verint Systems Inc. common shares$ 20.1$ 29.1$ 33.1$ 56.5$ 119.4$ 118.3$ 109.0$ - 0$ - 0$ - 0$ - 0$ 120.2$ 23.3$ 37.4$ 43.1$ 49.4$ 153.1$ 39.5$ 41.8$ 51.7$ 66.1$ 199.0$ 41.3$ 44.0$ 49.3$ 56.7$ 191.2$ 29.2$ 35.7$ 37.2$ - 0$ - 0
GAAP diluted net (loss) income per common share attributable to Verint Systems Inc.$ (1.26)$ (6.43)$ (2.88)$ 0.06$ 0.31$ 0.56$ 0.96$ 0.99$ 0.52$ 0.28$ (0.28)$ (0.19)$ (0.13)
Non-GAAP diluted net income per common share attributable to Verint Systems Inc.$ 0.62$ 0.88$ 1.00$ 1.65$ 3.09$ 2.79$ 2.47$ 2.64$ 0.44$ 0.70$ 0.80$ 0.91$ 2.84$ 0.72$ 0.72$ 0.84$ 1.06$ 3.35$ 0.66$ 0.70$ 0.78$ 0.90$ 3.04$ 0.46$ 0.57$ 0.59
GAAP diluted weighted-average shares used in computing net income (loss) per common share32,15632,22132,39433,12737,17939,49940,31253,87859,37462,92162,25862,66862,895
Additional weighted-average anti-dilutive shares applicable to non-GAAP net income per common share attributable to Verint Systems Inc823814440-------676260355
Additional weighted-average shares from assumed conversion of preferred stock into common stock applicable to non-GAAP net income per common share attributable to Verint Systems Inc--9,4649,83610,22310,62411,043123----- 0
Non-GAAP diluted weighted-average shares used in computing net income per common share32,62032,97933,03542,29842,96347,40250,12351,35553,26653,63753,94654,54054,00155,01858,17961,49262,08159,37462,38962,77362,77862,90062,92162,93462,92863,250
($ in millions)
Three Months EndedThree Months EndedThree Months EndedThree Months EndedThree Months Ended
FYE January 31,2006200720082009201020112012Apr 30, 2012Jul 31, 2012Oct 31, 2012Jan 31, 20132013April 30, 2013July 31, 2013October 31, 2013January 31, 20142014April 30, 2014July 31, 2014October 31, 2014January 31, 20152015April 30, 2015July 31, 2015 (2)October 31, 2015January 31, 20162016April 30, 2016July 31, 2016October 31, 2016January 31, 20172017
Adjusted EBITDA Reconciliation
GAAP net (loss) income attributable to Verint Systems Inc.$ 1.7$ (40.5)$ (198.6)$ (80.4)$ 15.6$ 25.6$ 37.0$ - 0$ - 0$ - 0$ - 0$ 54.0$ (9.2)$ 17.5$ 22.5$ 22.9$ 53.8$ - 0$ 28.0$ (12.3)$ 10.7$ 4.6$ - 0$ 30.9$ (0.4)$ (7.1)$ 7.6$ 17.5$ 17.6ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!$ (17.5)$ (11.7)$ (8.2)$ - 0$ - 0
Net income attributable to noncontrolling interest0.81.01.11.81.53.03.64.85.05.51.11.30.81.34.61.30.60.8
Provision (benefit) for income taxes9.60.127.719.77.19.95.5-0-0-0-09.03.12.86.0(7.3)4.5-0(42.1)5.54.816.8-0(15.0)0.92.61.6(4.2)1.0-0-0-0-00.31.13.4-0-0
Other (income) expense, net(8.0)(7.8)55.243.941.534.640.3-0-0-0-031.818.59.97.822.759.0-014.316.38.119.0-057.77.911.812.312.644.7-0-0-0-04.613.89.6-0-0
GAAP depreciation & amortization (1)17.819.345.353.547.846.851.013.613.713.713.954.913.912.312.415.253.822.625.224.324.496.524.326.626.326.0103.20.50.40.40.527.527.927.6
Revenue adjustments related to acquisitions- 0-037.35.9-0-013.63.62.61.11.28.60.60.30.51.42.7-011.97.95.93.9-029.80.81.21.31.0-04.30.40.20.20.13.62.21.1-0-0-0
Stock-based compensation expenses1.218.831.136.044.246.827.95.75.96.76.925.26.29.29.79.835.0-011.514.412.615.9-054.414.919.016.414.364.5- 0- 0- 04.515.316.414.0- 0- 0
Settlement with OCS- 019.2-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0- 0- 0- 0- 0- 0- 0- 0- 0- 0
In-process research and development2.9-06.7-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Other legal expenses (recoveries)2.6-08.7(4.3)-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Expenses related to restatement and extended filing delay- 03.741.428.754.528.91.0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Gain on sale of land- 0(0.8)-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Impairments of goodwill and other acquired intangible assets21.122.926.0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0
Acquisition expenses-0-0-00.81.76.8-0-0-0-011.6-0-0-0-011.4-0-0-0-0-0-018.7-0-0-0-0-0-07.01.72.93.5
Restructuring expenses-03.35.50.2-02.5-0-0-0-03.3-0-0-0-02.3-0-0-0-0-0-03.0-0-0-0-0-0-017.34.92.44.2
Impairment charges3.40.4-0-0-0-0-0-0-0-0-0-0-0-0-00.5-0-0-0-0-0-0-0-0-0-0-0-0-03.2- 0- 0- 0
Other adjustments- 0-010.93.2-02.72.8(0.8)(1.5)11.37.61.66.52.20.34.0(1.2)-09.04.62.37.5-01.7-07.39.53.28.5-01.00.10.20.31.30.20.2- 0- 0- 0- 0
Adjusted EBITDA$ 28.5$ 37.5$ 93.4$ 139.5$ 213.2$ 200.0$ 192.0$ 22.1$ 20.7$ 32.9$ 29.6$ 204.8$ 39.6$ 54.2$ 59.2$ 68.7$ 226.8$ - 0$ 55.2$ 61.6$ 68.7$ 92.1$ - 0$ 283.2$ 56.8$ 64.9$ 69.5$ 77.0$ 268.4ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!$ 41.9$ 55.8$ 56.0$ - 0$ - 0
(1) Adjusted for patent and financing fee amortization.
Proof of Non-GAAP EBITDA on old schedule$ 28.5$ 34.0$ 93.0$ 139.5$ 213.2$ 200.0$ 192.0ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!$ 204.8ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!$ 226.8ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!$ 283.2$ 56.9$ 65.0$ 268.4ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!$ - 0
Proof (0.0)3.50.40.00.00.0(0.0)ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!0.0ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!-0ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!-0(0.1)(0.1)-0ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!55.8
Total items to add to Adjusted EBITDA rec- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Proof including items above to add to Adjusted EBITDA(0.0)3.50.40.00.00.0(0.0)ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!0.0ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!-0ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!-0(0.1)(0.1)ERROR:#REF!ERROR:#REF!ERROR:#REF!ERROR:#REF!41.955.8
Notes
($ in millions)
FYE January 31,
Revenue Reconciliation
GAAP revenue
Revenue adjustments related to acquisitions
Non-GAAP revenue
Gross Profit Reconciliation
GAAP gross profit
GAAP gross margin
Revenue adjustments related to acquisitions
Amortization and impairment of acquired technology and backlog
Settlement with OCS
Stock-based compensation expenses
Other adjustments
Expenses related to restatement and extended filing delay
Non-GAAP gross profit
Non-GAAP gross margin
($ in millions)
FYE January 31,
Operating Income (Loss) Reconciliation
GAAP operating (loss) income
As a percentage of GAAP revenue
Revenue adjustments related to acquisitions
Amortization and impairment of acquired technology and backlog
Amortization of other acquired intangible assets
Settlement with OCS
In-process research and development
Other legal expenses (recoveries)No note on this… is this an other???
Stock-based compensation expenses
Expenses related to restatement and extended filing delay
Gain on sale of land
Other adjustments
Non-GAAP operating income
As a percentage of non-GAAP revenue
Other Income (Expense) Reconciliation
GAAP other income (expense), net
Losses on early retirements of debt
Unrealized (gains) losses on derivatives, net
Amortization of convertible note discount
Other adjustments
Non-GAAP other income (expense), net
($ in millions, except share and per share data)
FYE January 31,
Tax Provision Reconciliation
GAAP provision for (benefit from) income taxes
GAAP effective income tax rate
Non-cash tax adjustments
Non-GAAP provision for income taxes
Non-GAAP effective income tax rate
Net (Loss) Income Attributable to Verint Systems Inc. Reconciliation
GAAP net (loss) income attributable to Verint Systems Inc.
Total GAAP net (loss) income adjustments
Non-GAAP net income attributable to Verint Systems Inc.
Net (Loss) Income Attributable to Verint Systems Inc. Common Shares
GAAP net (loss) income attributable to Verint Systems Inc. common shares
Total GAAP net (loss) income adjustments
Non-GAAP net income attributable to Verint Systems Inc. common shares
Non-GAAP diluted net income per common share attributable to Verint Systems Inc.
Shares used in computing non-GAAP diluted net income per common share (in 000's)
($ in millions)
FYE January 31,
Adjusted EBITDA Reconciliation
GAAP net (loss) income attributable to Verint Systems Inc.
Net income attributable to noncontrolling interest
Provision (benefit) for income taxes
Other (income) expense, net
GAAP depreciation & amortization (1)
Revenue adjustments related to acquisitions
Stock-based compensation expenses
Settlement with OCS
In-process research and development
Other legal expenses (recoveries)
Expenses related to restatement and extended filing delay
Gain on sale of land
Other adjustments
Adjusted EBITDA
(1) Adjusted for patent and financing fee amortization.
Proof of Non-GAAP EBITDA on old schedule
Proof
Total items to add to Adjusted EBITDA rec
Proof including items above to add to Adjusted EBITDA
EPS Rec
($ in millions)
Three Months EndedThree Months EndedThree Months EndedThree Months EndedKana Three Months Ended
FYE January 31,2006200720082009201020112012Apr 30, 2012Jul 31, 2012Oct 31, 2012Jan 31, 20132013April 30, 2013July 31, 2013October 31, 2013January 31, 20142014April 30, 2014July 31, 2014October 31, 2014January 31, 20152015April 30, 2015July 31, 2015 (1)October 31, 2015January 31, 20162016Q1 Q2 Q3Q4April 30, 2016July 31, 2016October 31, 2016January 31, 20172017
Operating Income (Loss) Reconciliation
GAAP operating (loss) income$ 4.1$ (47.3)$ (114.6)$ (15.0)$ 65.7$ 73.1$ 86.5$ 21.0$ 26.3$ 16.8$ 35.5$ 99.6$ 13.7$ 31.3$ 37.8$ 39.5$ 122.3$ 1.0$ 11.5$ 24.4$ 42.3$ 79.1$ 9.6$ 8.7$ 22.3$ 27.2$ 67.9$ (0.4)$ 4.2$ 4.5$ 0.7$ (11.3)$ 3.7
As a percentage of GAAP revenue1.5%-12.8%-21.4%-2.2%9.3%10.1%11.0%10.7%12.4%8.3%15.5%11.9%6.7%14.1%16.9%15.4%13.5%ERROR:#DIV/0!0.4%4.2%8.6%13.6%ERROR:#DIV/0!7.0%3.6%2.9%7.9%9.7%6.0%-1.4%12.2%12.8%1.8%-4.6%1.4%
Revenue adjustments related to acquisitions- 0- 037.35.9- 0- 013.63.62.61.11.28.50.60.30.51.42.711.97.95.93.929.80.81.21.31.04.30.40.20.20.13.62.2ERROR:#REF!ERROR:#REF!ERROR:#REF!
Amortization and impairment of acquired technology and backlog5.07.78.09.08.09.112.43.83.63.73.714.83.62.41.94.312.36.48.68.18.031.08.09.99.18.935.81.71.71.71.79.29.1
Amortization of other acquired intangible assets1.33.219.725.222.321.522.96.26.06.16.124.46.06.06.26.524.711.211.611.411.045.210.710.710.910.843.12.62.62.62.411.311.5
Settlement with OCS- 019.2- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
In-process research and development2.9- 06.7- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Other legal expenses (recoveries)2.6- 08.7(4.3)- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Stock-based compensation expenses1.218.831.136.044.246.827.95.75.96.76.925.26.29.29.79.835.011.514.412.615.954.414.919.016.414.364.5- 0- 0- 04.515.316.4
Expenses related to restatement and extended filing delay- 03.741.428.754.528.91.0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Gain on sale of land- 0(0.8)- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Other adjustments- 021.137.234.90.95.212.3(0.8)(1.5)11.37.616.66.52.20.34.013.09.04.62.37.523.47.39.53.28.528.60.10.20.31.36.75.5
Non-GAAP operating income$ 17.1$ 25.5$ 75.4$ 120.4$ 195.6$ 184.6$ 176.6$ 39.4$ 43.0$ 45.7$ 61.0$ 189.2$ 36.7$ 51.4$ 56.4$ 65.5$ 210.0$ - 0$ 51.0$ 58.6$ 64.7$ 88.6$ - 0$ 262.9$ 51.3$ 59.0$ 63.2$ 70.7$ 244.2$ 4.3$ 8.9$ 9.4$ 10.7$ 34.8$ 48.4ERROR:#REF!ERROR:#REF!ERROR:#REF!
As a percentage of non-GAAP revenue6.1%6.9%13.2%17.8%27.8%25.4%22.2%19.7%20.0%22.6%26.5%22.3%17.9%23.1%25.1%25.5%23.1%ERROR:#DIV/0!18.9%20.6%22.4%28.1%ERROR:#DIV/0!22.7%19.0%19.9%22.1%25.1%21.5%14.8%25.9%26.4%26.5%14.0%18.3%
Other Income (Expense) Reconciliation
GAAP other income (expense), net$ 8.0$ 7.8$ (55.2)$ (43.9)$ (41.5)$ (34.6)$ (40.3)$ (31.8)$ (18.5)$ (9.9)$ (7.8)$ (22.7)$ (59.0)$ (14.3)$ (16.3)$ (8.1)$ (19.0)$ (57.7)$ (7.9)$ (11.8)$ (12.3)$ (12.6)$ (44.7)$ (4.6)$ (13.8)
Losses on early retirements of debt- 0- 0- 0- 0- 0- 08.1- 09.70.2- 0- 09.97.15.5- 0- 012.5- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Unrealized (gains) losses on derivatives, net- 0- 026.7(1.8)(8.0)(6.0)(0.4)0.1(0.4)0.10.6(1.0)(0.7)0.7(0.9)(1.6)1.6(0.1)0.4(0.3)(0.1)- 0- 00.30.1
Amortization of convertible note discount- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 01.12.42.46.02.52.52.52.610.12.62.7
Other adjustments- 0- 0- 0- 0- 0- 00.11.20.11.00.312.313.80.1- 0(0.1)0.60.5- 00.21.61.43.40.32.5
Non-GAAP other income (expense), net$ 8.0$ 7.8$ (28.5)$ (45.7)$ (49.5)$ (40.6)$ (32.5)$ - 0$ - 0$ - 0$ - 0$ (30.5)$ (9.1)$ (8.6)$ (6.9)$ (11.4)$ (36.0)$ (6.4)$ (10.6)$ (7.4)$ (14.4)$ (38.8)$ (5.0)$ (9.4)$ (8.3)$ (8.6)$ (31.2)$ (1.4)$ (8.5)$ - 0$ - 0$ - 0
($ in millions, except share and per share data)
Three Months EndedThree Months EndedThree Months EndedThree Months EndedThree Months Ended
FYE January 31,2006200720082009201020112012Apr 30, 2012Jul 31, 2012Oct 31, 2012Jan 31, 20132013April 30, 2013July 31, 2013October 31, 2013January 31, 20142014April 30, 2014July 31, 2014October 31, 2014January 31, 20152015April 30, 2015July 31, 2015 (1)October 31, 2015January 31, 20162016April 30, 2016July 31, 2016October 31, 2016January 31, 20172017
Tax Provision Reconciliation
GAAP provision for (benefit from) income taxes$ 9.6$ 0.1$ 27.7$ 19.7$ 7.1$ 9.9$ 5.5$ 9.0$ 3.1$ 2.8$ 6.0$ (7.3)$ 4.5$ (42.1)$ 5.5$ 4.8$ 16.8$ (15.0)$ 0.9$ 2.6$ 1.6$ (4.2)$ 1.0$ 0.3$ 1.0
GAAP effective income tax rate0.4%-16.3%-33.4%29.4%25.8%12.0%-16.3%-16.3%-16.3%-16.3%13.2%-16.3%-16.3%-16.3%-16.3%7.2%-16.3%-16.3%-16.3%-16.3%-16.3%-16.3%-70.1%-16.3%-16.3%-16.3%-16.3%-16.3%-16.3%4.1%-2.1%-10.6%
Non-cash tax adjustments(5.4)3.2(23.6)(16.4)4.6(1.4)11.19.2(0.1)1.7(1.2)10.711.246.4(1.2)(0.1)(10.5)34.63.01.73.28.416.22.72.7
Non-GAAP provision for income taxes$ 4.2$ 3.3$ 4.1$ 3.3$ 11.7$ 8.5$ 16.6$ - 0$ - 0$ - 0$ - 0$ 18.2$ 3.0$ 4.5$ 4.8$ 3.4$ 15.7$ - 0$ 4.3$ 4.3$ 4.7$ 6.3$ - 0$ 19.6$ - 0$ 3.9$ 4.3$ 4.8$ 4.2$ - 0$ 17.2$ 3.0$ 3.7$ - 0$ - 0$ - 0
Non-GAAP effective income tax rate9.9%8.8%4.4%8.0%6.3%11.5%11.4%9.0%8.8%8.1%8.9%9.3%
Net (Loss) Income Attributable to Verint Systems Inc. Reconciliation
GAAP net (loss) income attributable to Verint Systems Inc.$ 1.7$ (40.5)$ (198.6)$ (80.4)$ 15.6$ 25.6$ 37.0$ 54.0$ (9.2)$ 17.5$ 22.5$ 22.9$ 53.8$ 28.0$ (12.3)$ 10.7$ 4.6$ 30.9$ (0.4)$ (7.1)$ 7.6$ 17.5$ 17.6$ (17.5)$ (11.7)
Total GAAP net (loss) income adjustments18.469.6240.4150.0117.4106.986.881.732.619.920.626.599.511.554.141.061.5168.141.751.141.739.2173.646.747.4
Non-GAAP net income attributable to Verint Systems Inc.$ 20.1$ 29.1$ 41.8$ 69.6$ 133.0$ 132.5$ 123.8$ - 0$ - 0$ - 0$ - 0$ 135.7$ 23.4$ 37.4$ 43.1$ 49.4$ 153.3$ 39.5$ 41.8$ 51.7$ 66.1$ 199.0$ 41.3$ 44.0$ 49.3$ 56.7$ 191.2$ 29.2$ 35.7$ - 0$ - 0$ - 0
Net (Loss) Income Attributable to Verint Systems Inc. Common Shares
GAAP net (loss) income attributable to Verint Systems Inc. common shares$ 1.7$ (40.5)$ (207.3)$ (93.5)$ 2.0$ 11.4$ 22.2$ 38.5$ (9.3)$ 17.5$ 22.5$ 22.9$ 53.6$ 28.0$ (12.3)$ 10.7$ 4.6$ 30.9$ (0.4)$ (7.1)$ 7.6$ 17.5$ 17.6$ (17.5)$ (11.7)
Total GAAP net (loss) income adjustments18.469.6240.4150.0117.4106.986.8- 0- 0- 0- 081.732.619.920.626.599.511.554.141.061.5168.141.751.141.739.2173.646.747.4
Non-GAAP net income attributable to Verint Systems Inc. common shares$ 20.1$ 29.1$ 33.1$ 56.5$ 119.4$ 118.3$ 109.0$ - 0$ - 0$ - 0$ - 0$ 120.2$ 23.3$ 37.4$ 43.1$ 49.4$ 153.1$ 39.5$ 41.8$ 51.7$ 66.1$ 199.0$ 41.3$ 44.0$ 49.3$ 56.7$ 191.2$ 29.2$ 35.7$ - 0$ - 0$ - 0
Shares used in computing non-GAAP diluted net income per common share (in 000's)32,62032,97933,03542,29842,96347,40250,12351,35553,26653,63753,94654,54054,00155,01858,17961,49262,08159,37462,38962,77362,77862,90062,92162,93462,928
FYE January 31,2006200720082009201020112012Apr 30, 2012Jul 31, 2012Oct 31, 2012Jan 31, 20132013April 30, 2013July 31, 2013October 31, 2013January 31, 20142014April 30, 2014July 31, 2014October 31, 2014January 31, 20152015April 30, 2015July 31, 2015 (1)October 31, 2015January 31, 20162016April 30, 2016July 31, 2016October 31, 2016January 31, 20172017
CALCULATION FOR EPS:
Revenue adjustments related to acquisitions-37,2545,890--13,5998,5342,72929,7274,3753,5542,229
Amortization and impairment of acquired technology and backlog7,6648,0189,0248,0219,09412,40014,81212,26931,00435,7749,1809,134
Amortization of other acquired intangible assets3,16419,66825,24922,26821,46022,90224,44224,66245,16343,13011,26611,466
Settlement with OCS19,158--------- 0--
In-process research and development-6,682-------- 0--
Other legal expenses (recoveries)-8,708(4,292)------- 0--
Stock-based compensation expenses18,79131,06136,01144,24546,81927,91125,20834,99154,45864,54915,34016,388
Expenses related to restatement and extended filing delay3,65641,42228,68154,51128,920----- 0--
Gain on sale of land(765)--------- 0--
Losses on early retirements of debt-----8,136-9,87912,546- 0--
Unrealized (gains) losses on derivatives, net-26,703(1,807)(8,049)(5,986)(417)133(704)(129)(3)258134
Amortization of convertible note discount--------6,01410,1232,6142,650
Other adjustments21,10337,22234,9079035,18813,35617,76226,86723,93431,8557,0927,948
Non-GAAP tax adjustments(3,182)23,61616,352(4,553)1,412(11,097)(9,201)(11,164)(34,621)(16,213)(2,644)(2,655)
Total69,589240,354150,015117,346106,90786,790----81,690----99,529- 0- 0- 0- 0- 0- 0168,096- 0- 0- 0- 0- 0- 0173,59046,66047,294
Shares used in computing non-GAAP diluted net income per common share (in 000's)32,62032,97933,03542,29842,96347,40250,12351,35553,26653,63753,94654,54054,00155,01858,17961,49262,08159,37462,38962,77362,77862,90062,92162,93462,928
CALCULATION:
($ in millions, except share and per share data)
Three Months EndedThree Months EndedThree Months EndedThree Months EndedThree Months Ended
FYE January 31,2006200720082009201020112012Apr 30, 2012Jul 31, 2012Oct 31, 2012Jan 31, 20132013April 30, 2013July 31, 2013October 31, 2013January 31, 20142014April 30, 2014July 31, 2014October 31, 2014January 31, 20152015April 30, 2015July 31, 2015 (1)October 31, 2015January 31, 20162016April 30, 2016July 31, 2016October 31, 2016January 31, 20172017
Table of Reconciliation from GAAP Diluted Net Loss 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 (loss) per common share attributable to Verint Systems Inc.(1.26)(6.43)(2.88)0.060.310.560.960.990.520.2800(0.28)(0.19)
Revenue adjustments related to acquisitions- 01.130.14- 0- 00.27- 0- 0- 0- 00.17- 0- 0- 0- 00.05- 0- 0- 0- 0- 0- 00.50- 0- 0- 0- 0- 0- 00.06950.060.04- 0- 0- 0- 0
Amortization and impairment of acquired technology and backlog0.230.240.210.190.190.25- 0- 0- 0- 00.29- 0- 0- 0- 00.23- 0- 0- 0- 0- 0- 00.52- 0- 0- 0- 0- 0- 00.56860.150.15
Amortization of other acquired intangible assets0.100.600.600.520.450.46- 0- 0- 0- 00.48- 0- 0- 0- 00.46- 0- 0- 0- 0- 0- 00.76- 0- 0- 0- 0- 0- 00.68550.180.18
Settlement with OCS0.58- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
In-process research and development- 00.20- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Other legal expenses (recoveries)- 00.26(0.10)- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Stock-based compensation expenses0.570.940.851.030.990.56- 0- 0- 0- 00.49- 0- 0- 0- 00.65- 0- 0- 0- 0- 0- 00.92- 0- 0- 0- 0- 0- 01.02590.240.26
Expenses related to restatement and extended filing delay0.111.250.681.270.61- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Gain on sale of land(0.02)- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0
Losses on early retirements of debt- 0- 0- 0- 0- 00.16- 0- 0- 0- 0- 0- 0- 0- 0- 00.18- 0- 0- 0- 0- 0- 00.21- 0- 0- 0- 0- 0- 0- 0- 0- 0
Unrealized (gains) losses on derivatives, net- 00.81(0.04)(0.19)(0.13)(0.01)- 0- 0- 0- 00.00- 0- 0- 0- 0(0.01)- 0- 0- 0- 0- 0- 0(0.00)- 0- 0- 0- 0- 0- 0(0.0000)0.000.00
Amortization of convertible note discount- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 0- 00.10- 0- 0- 0- 0- 0- 00.16090.040.04
Other adjustments0.641.130.830.020.110.27- 0- 0- 0- 00.35- 0- 0- 0- 00.50- 0- 0- 0- 0- 0- 00.40- 0- 0- 0- 0- 0- 00.50630.110.13
Non-GAAP tax adjustments(0.10)0.710.39(0.11)0.03(0.22)- 0- 0- 0- 0(0.18)- 0- 0- 0- 0(0.21)- 0- 0- 0- 0- 0- 0(0.58)- 0- 0- 0- 0- 0- 0(0.2577)(0.04)(0.04)
Non-GAAP diluted net income per common share attributable to Verint Systems Inc.0.850.850.672.792.572.29- 0- 0- 0- 02.55- 0- 0- 0- 02.83- 0- 0- 0- 0- 0- 03.35- 0- 0- 0- 0- 0- 03.040.460.56
Non-GAAP diluted net income per common share attributable to Verint Systems Inc.$ 0.62$ 0.88$ 1.00$ 1.65$ 3.09$ 2.79$ 2.47$ 2.64$ 0.44$ 0.70$ 0.80$ 0.91$ 2.84$ 0.72$ 0.72$ 0.84$ 1.06$ 3.35$ 0.66$ 0.70$ 0.78$ 0.90$ 3.04$ 0.46$ 0.57
Rounded:
($ in millions, except share and per share data)
Three Months EndedThree Months EndedThree Months EndedThree Months EndedThree Months Ended
FYE January 31,2006200720082009201020112012Apr 30, 2012Jul 31, 2012Oct 31, 2012Jan 31, 20132013April 30, 2013July 31, 2013October 31, 2013January 31, 20142014April 30, 2014July 31, 2014October 31, 2014January 31, 20152015April 30, 2015July 31, 2015 (1)October 31, 2015January 31, 20162016April 30, 2016July 31, 2016October 31, 2016January 31, 20172017
Table of Reconciliation from GAAP Diluted Net Loss Per Common Share Attributable to Verint Systems Inc. to Non-GAAP Diluted Net Income Per Common Share Attributable to Verin