NICE Reports Record 2005 Second Quarter Earnings

NICE Systems (www.nice.com) saw a tremendous second quarter 2005. With quarterly revenues in excess of $72.2 million and a pro-forma gross margin improved to 56.7 percent.

According to NICE, the quarterly revenues of $72.2 million set a company record, and is 18 percent higher than the revenues of the same quarter 2004 ($61.3 million).

"We are extremely pleased by the strong momentum we are seeing in both the enterprise and public and security sectors, each driven by increasing demand for our products across the board," said Haim Shani, CEO of NICE Systems in a statement announcing the quarterly results. "The increase in demand is particularly gratifying as it reflects successful execution of our near and long-term strategy for strengthening our position as the global leader in providing Insight from Interactions solutions."

During the quarter, the company finished the acquisition of Dictaphone CRS (not part of the security line-up), which cost the company $38.5 million. Despite that acquisition the company was still left with cash and equivalent of $169.3 million.

As part of the strong Q2 2005 results, the company has upped its annual guidance to revenues of between $304 and $309 million. Previous guidances were in the $295-$300 million range.

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