Stock Analysis

There is no financing condition, and J.P. Morgan is lead arranger of committed financing, with Citi participating.

Revenue fell to €775.9 million from €803.8 million a year earlier, but profitability improved.Gross Profitrose 2.2 per cent to €343.3 million, lifting the grossMarginto 44.2 per cent from 41.8 per cent. EBITDA increased 34.0 per cent to €49.2 million, and EBITA more than doubled, …

Net income was $27.4 million, up 31.7 per cent, andDiluted Earnings per Sharewere $1.43, compared with $1.07. The company said net income was helped by an unrealisedInvestmentgain, so the increase is not purely operational. Adjusted EPS, a non-GAAP measure that excludes some such items, …

TheGAAPOperating Marginwas 26.2 per cent, against 31.8 per cent, and the non-GAAP operating margin was 44.1 per cent, against 47.6 per cent.Diluted Earnings per Sharewere $1.05 on a GAAP basis, flat year on year, and $2.11 on a non-GAAP basis, up from $1.93.

Profit grew more slowly than sales on a GAAP basis.Gross Profitrose 6.3 per cent to US$1,319.8 million, taking the gross margin to 20.1 per cent from 20.8 per cent.Operating Incomeincreased 2.0 per cent to US$428.6 million, a 6.5 per cent margin against 7.0 per …

Licensing and related revenue was US$18.2 million, up 21 per cent and, according to the company, its highest level in three years. Chief executive Amir Panush attributed the quarter to that growth.Royaltyrevenue was US$10.8 million, roughly flat year on year at plus 1 per …

Recurring revenue was $56.2 million, up 18.4 per cent, or 51.4 per cent of revenue. Non-GAAP grossMarginwas 73.7 per cent, up 154 basis points. Chief executive Elad Sharon said the strategy is working and linked execution toDemandfor mission-critical intelligence in high-stakes settings.