Amdocs 4Q earnings rise as it trims costs

ST. LOUIS (AP) — Telecommunications equipment maker Amdocs Ltd. said Wednesday its fiscal fourth-quarter earnings rose slightly as it cut costs to offset lower sales.

The company also issued an adjusted earnings per share prediction for the fiscal 2010 first quarter that topped Wall Street's expectations.

It shares rose more than 6 percent in after-hours trading.

The company earned $85.8 million, or 42 cents per share, in the fourth quarter, compared with $82.7 million, or 38 cents per share, a year ago.

Excluding some one-time items, the company earned 53 cents per share in the most recent quarter, compared with 54 cents in the prior-year period.

Revenue fell 14 percent to $707.4 million.

Analysts polled by Thomson Reuters expected a profit of 49 cents per share on $680.4 million in sales. Analysts generally exclude one-time items from their estimates.

For the full-fiscal year, profit fell to $326.2 million, or $1.58 per share, from $378.9 million, or $1.74 per share, in the previous fiscal year.

Revenue fell to $2.86 billion from $3.16 billion a year earlier.

For the first quarter of 2010 that ends in December, the company expects to earn between 38 and 44 cents per share. Excluding some one-time items, it sees a profit of 51 to 55 cents per share. Analysts currently predict 50 cents per share.

Amdocs said it thinks its managed services and cable-satellite units will continue to drive results in the next fiscal year, but said it's still unsure about the future performance of its project-related activities, which were hit harder in the recession.

The stock closed up 8 cents at $24.47 in the regular session.