Verint Receives More Than $12 Million in Orders From New Big Box Retail Customer
January 08 2007 - 7:30AM
Business Wire
Verint Systems Inc. (NASDAQ: VRNT), a leading provider of analytic
software-based solutions for security and business intelligence,
today announced that, since the beginning of its fourth quarter, it
has received more than $12 million in orders for its Nextiva�
Retail video solution from a new Big Box retail customer and
expects a significant majority of these orders to be recognized in
the fourth quarter. Verint initially announced that it had received
$3 million in orders from this new retailer during its December 11,
2006 third quarter conference call with security analysts. �Verint
is committed to maintaining its market leadership by developing
networked video solutions that address specific security challenges
across a broad range of industries, such as retail, banking,
critical infrastructure and transportation,� said Dan Bodner,
President and CEO of Verint Systems. �We are pleased to have been
selected by this new retail customer and believe our success was
driven by the architectural advantages of our award-winning Nextiva
portfolio and our significant experience in delivering valued-added
solutions to the retail market.� Nextiva Retail is part of the
Nextiva portfolio of networked video solutions. Nextiva�s robust
platform and vertical market software applications are built on
standards-based, open architecture, engineered for scalability,
rapid deployment, and ease of use in IP network environments.
Nextiva enables organizations to enhance the security of their
facilities and infrastructure and the performance of their business
operations by networking video across local and wide area IP
networks and applying advanced content analytics to extract
actionable intelligence from live and stored video. Bodner stated,
�As the video market continues to evolve, enterprise and government
customers seek IP-based solutions that can efficiently scale to
meet their needs and easily integrate into their IT infrastructure.
Nextiva�s powerful enterprise capabilities make it well suited to
be the solution of choice for large, multi-site networked video
deployments around the world.� About Verint Systems Inc. Verint
Systems Inc., headquartered in Melville, New York, is a leading
provider of analytic software-based solutions for security and
business intelligence. Verint software, which is used by over 1,000
organizations in over 50 countries worldwide, generates actionable
intelligence through the collection, retention and analysis of
voice, fax, video, email, Internet and data transmissions from
multiple communications networks. Visit us at our website
www.verint.com. Note: This release contains �forward-looking
statements� under the Private Securities Litigation Reform Act of
1995. There can be no assurances that forward-looking statements
will be achieved, and actual results could differ materially from
forecasts and estimates. Important risks, uncertainties and other
important factors that could cause actual results to differ
materially include, among others: potential impact on Verint�s
financial results as a result of Comverse�s creation of a special
committee of the Board of Directors of Comverse to review matters
relating to grants of Comverse stock options, including but not
limited to, the accuracy of the stated dates of Comverse option
grants and whether Comverse followed all of its proper corporate
procedures and the results of the Comverse special committee�s
review; the effect of Verint�s failure to timely file all required
reports under the Securities Exchange Act of 1934 and the resultant
potential delisting of Verint�s common stock on NASDAQ; the facts
and circumstances underlying certain potential accounting errors,
as well as certain other areas requiring additional investigation,
recently announced by Comverse; the impact of governmental
inquiries arising out of or related to option grants and the other
accounting errors identified at Comverse; introducing quality
products on a timely basis that satisfy customer requirements and
achieve market acceptance; lengthy and variable sales cycles create
difficulty in forecasting the timing of revenue; integrating the
business and personnel of Mercom and CM Insight and Verint�s other
acquisitions, including implementation of adequate internal
controls; risks associated with significant foreign operations,
including fluctuations in foreign currency exchange rates;
aggressive competition in all of Verint�s markets, which creates
pricing pressure; managing our expansion in the Asia Pacific
region; risks that Verint�s intellectual property rights may not be
adequate to protect its business or that others may claim that
Verint infringes upon their intellectual property rights; risks
associated with Verint�s ability to retain existing personnel and
recruit and retain qualified personnel in all geographies in which
Verint operates; decline in information technology spending;
changes in the demand for Verint�s products; challenges in
increasing gross margins; risks associated with changes in the
competitive or regulatory environment in which Verint operates;
dependence on government contracts; expected increase in Verint�s
effective tax rate; perception that Verint improperly handles
sensitive or confidential information; inability to maintain
relationships with value added resellers and systems integrators;
difficulty of improving Verint�s infrastructure in order to be able
to continue to grow; risks associated with Comverse Technology,
Inc. controlling Verint�s business and affairs; and other risks
described in filings with the Securities and Exchange Commission.
All documents are available through the SEC�s Electronic Data
Gathering Analysis and Retrieval system (EDGAR) at www.sec.gov or
from Verint�s website at www.verint.com. Verint makes no commitment
to revise or update any forward-looking statements except as
otherwise required by law. Verint, the Verint word mark, Actionable
Intelligence, Powering Actionable Intelligence, STAR-GATE, RELIANT,
NEXTIVA, LORONIX, SmartSight, Lanex and ULTRA are trademarks of
Verint Systems Inc. Other names may be trademarks of their
respective owner.
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