Comverse Technology has announced sales of $259 million for the fourth quarter of fiscal year 2004, ended 31 January 2005, an increase of 27.6% compared to sales of $203 million for the fourth quarter of fiscal 2003.
Net income for the fourth quarter was $21 million compared to a net income of $4.9 million for corresponding previous quarter.
Kobi Alexander, chairman and CEO of Comverse Technology, said each of the three major operating units achieved year-over-year growth in both profitability and revenue in the fourth quarter. The network systems division saw demand for its Total Communication portfolio, which enables a broad range of telecommunications applications including call answering and call completion services, advanced messaging and other data applications such as wireless content delivery, and real-time prepaid billing.
The Verint Systems unit continued to expand its activities providing actionable intelligence for security and business intelligence applications. The Ulticom division saw demand for its service-enabling software across several application areas, including prepaid billing for wireless voice and data services, and IP softswitching.
The company ended the quarter with record cash and cash equivalents, bank time deposits and short-term investments of $2.2 billion, working capital of $2.1 billion, record total assets of $2.9 billion and record stockholders` equity of $1.8 billion.
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Comverse, a unit of Comverse Technology, Inc (NASDAQ: CMVT), is the world`s leading provider of software and systems enabling network-based multimedia enhanced communication services. More than 400 wireless and wireline telecommunications network operators, in more than 100 countries, have selected Comverse`s enhanced services systems and software, which enable the provision of revenue-generating value-added services including call answering with one-touch call return, short messaging services, IP-based unified messaging (voice, fax, and email in a single mailbox), 2.5G/3G multimedia messaging (MMS), instant communications, wireless information and entertainment services, voice-controlled dialling, messaging and browsing, prepaid wireless services, and additional personal communication services.
Other Comverse Technology business units include: Verint Systems, a leading provider of analytic solutions for communications interception, digital video security and surveillance, and enterprise business intelligence; and Ulticom, a leading provider of service enabling network software for wireless, wireline, and Internet communications. Comverse Technology is an S&P 500 and Nasdaq-100 Index company. For additional information, visit the Comverse Web site at http://www.comverse.com.
Sha-Izwe
Sha-Izwe Communications (incorporating Charles Smith and Associates established in 1987) is a BEE company and part of the Constellation Group with operates in 25 countries. Sha-Izwe is the sole representative for The Constellation Group in SA. Services cover media relations, graphic design, advertising, investor relations, writing of tender documents and training manuals.
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