Amdocs Q2 revenue at $833 million, up 3 percent Y-0-Y

Amdocs today reported that for its fiscal quarter ended March 31, 2013, revenue was $832.9 million, up 3 percent as compared to last year's second fiscal quarter.

Net income on a non-GAAP basis was $119.3 million, or $0.73 per diluted share, compared to non-GAAP net income of $114.7 million, or $0.67 per diluted share, in the second quarter of fiscal 2012.

"We followed-up our strong start to fiscal 2013 by delivering record revenues in the second fiscal quarter. We achieved year-on-year improvement in North America for the second consecutive quarter, driven by AT&T and other key customers. This compensated for currency headwinds, the effects of macroeconomic uncertainty, and longer decision making cycles in Europe. Operating margin remained comfortably within our targeted range, and, with the contribution from our continued share repurchase activity, we delivered non-GAAP earnings per share growth of 9 percent year-on-year in the second fiscal quarter," said Eli Gelman, chief executive officer, Amdocs Management.

"Our free cash flow continues to be strong and we remain focused on efficiently allocating our cash over the long-term. Looking toward the second half of fiscal 2013, we will continue to monitor macroeconomic and industry conditions closely, which include the uncertainty arising from announced M&A activity among operators in North America and macroeconomic pressures, especially in Europe. Based on our current market outlook, we believe that we can perform within the fiscal year 2013 guidance ranges furnished at the beginning of the year and provide an attractive total return to our shareholders," added Gelman.

Amdocs expects that revenue for the third quarter of fiscal 2013 will be approximately $825-$855 million.