NEW YORK-Amdocs Ltd., St. Louis, a provider of billing and customer relationship management for telecommunications operators, reported increased revenues and losses for the fiscal year, which ended Sept. 30.
The company’s revenues totaled $1.61 billion, up from $1.53 billion during the prior fiscal year. However, the net loss was $5.1 million, compared with net income of $66.4 million. The loss per share was 2 cents, down from earnings per share of 29 cents.
For the last quarter, Amdocs reported a 14.4-percent decline in revenues, to $355.5 million from $415.4 million during the same period of the prior fiscal year. The net loss last quarter was $9 million, down from $20 million of net income. The loss per share was 4 cents, compared with a per-share gain of 9 cents.
“The telecom market continued to weaken during the fourth quarter, with service providers very hesitant to commit to new projects. We do not expect the market to improve in the next quarter,” said Dov Baharav, chief executive officer. “We believe in the market long term, and accordingly, continue to make significant investments in product development to ensure our growth when the market recovers.”
