Fourth Quarter Results of Amdocs for Fiscal 2017 Reported

Amdocs Limited has reported operating results for the 3 and 12 months ended September 30, 2017. Revenue for the fourth fiscal quarter ended September 30, 2017 was USD 979.7 million, up 1.3 percent or USD 13.0 million sequentially from the third fiscal quarter of 2017 and up 4.2 percent as compared to last year’s fourth fiscal quarter. Revenue for the fourth fiscal quarter of 2017 includes a positive impact from foreign currency movements of approximately USD 9 million relative to the third quarter of fiscal 2017. Revenue was slightly below the midpoint of Amdocs’ guidance, excluding foreign currency movements.

For the fiscal year ended September 30, 2017, revenue increased by 4.0 percent to USD 3.9 billion. The company’s GAAP net income for the fourth quarter of fiscal 2017 was USD 107.2 million, or USD 0.73 per diluted share, compared to a GAAP net income of USD 95.7 million, or USD 0.64 per diluted share, in the prior fiscal year’s fourth quarter. Net income on a non-GAAP basis was USD 137.4 million, or USD 0.94 per diluted share, compared to a non-GAAP net income of USD 132.4 million, or USD 0.89 per diluted share, in the fourth quarter of fiscal 2016.

The company’s GAAP net income in fiscal 2017 was USD 436.8 million, or USD 2.96 per diluted share, compared to a GAAP net income of USD 409.3 million, or USD 2.71 per diluted share, in fiscal 2016. Fiscal 2017 net income on a non-GAAP basis was USD 560.6 million, or USD 3.80 per diluted share, compared to a non-GAAP net income of USD 540.1 million, or USD 3.57 per diluted share, in fiscal 2016.

Full year fiscal 2018 outlook. What is expected is a revenue growth of 0.0–4.0 percent year-over-year; revenue growth of 1.0–3.0 percent year-over-year on a constant currency basis; GAAP diluted earnings per share growth of roughly 3.0–9.0 percent year-over-year; and non-GAAP diluted earnings per share growth of roughly 4.0–8.0 percent year-over-year, excluding amortization of purchased intangible assets and other acquisition-related costs and approximately USD 0.28–0.32 per share of equity-based compensation expense, net of related tax effects.

“We are pleased to deliver solid operating results in 4Q, which included another quarter of record revenue and sequential growth across North America, Europe, and Rest of World. At the same time, we maintained stable operating profitability as we successfully balanced project delivery with the launch of innovative product offerings in areas such as artificial intelligence and network functions virtualization. Overall, our fourth quarter wrapped up a successful fiscal 2017 for Amdocs in which we delivered full year non-GAAP diluted earnings per share growth of 6.4 percent and free cash flow generation of more than USD 500 million.”

Eli Gelman 
President and CEO,
Amdocs Management Limited