ST. LOUIS-Amdocs Ltd., provider of telecommunications billing and customer management relationship solutions, posted net income increases last quarter amid declining revenues.
Revenues totaled $355 million during the second quarter, which closed March 31, a 22 percent decrease from a year ago. However, net income rose to $45.4 million, or 21 cents per share, from $26.4 million, or 12 cents per share.
Citing a 4.6 percent revenue increase compared with the first quarter, Dov Baharav, chief executive officer of Amdocs Management Ltd., said the company had exceeded revenue and new-business targets this calendar year, having obtained “seven new key wins,” five of them mobile operators in Europe and the United States.
“Business conditions remain challenging, but while we cannot be certain of the timing or magnitude, we believe the telecom market ultimately will recover,” he said.
“Longer term, we are well positioned to benefit from this recovery, which will be a key factor in achieving sustained growth.”
