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Fourth Quarter Results for Fiscal 2009
Amdocs Limited Reports Quarterly Revenue of $707 Million, Up Sequentially and Above Guidance

Key highlights:

  • Fourth quarter revenue of $707 million, above the $670-$690 million guidance range
  • Fourth quarter non-GAAP operating income of $128 million; non-GAAP operating margin of 18.1%; GAAP operating income of $97 million
  • Fourth quarter diluted non-GAAP EPS of $0.53, excluding amortization of purchased intangible assets and equity-based compensation expense, net of related tax effects
  • Diluted GAAP EPS of $0.42 for the fourth quarter
  • Free cash flow of $166 million for the fourth quarter
  • 12-month backlog of $2.385 billion at the end of the fourth quarter
  • First quarter fiscal 2010 guidance: Expected revenue of approximately $705-$725 million and diluted non-GAAP EPS of $0.51-$0.55, excluding acquisition-related costs and approximately $0.04-$0.05 per share of equity-based compensation expense, net of related tax effects. Diluted GAAP EPS is expected to be approximately $0.38-$0.44

ST. LOUIS, Nov. 4 /PRNewswire-FirstCall/ -- Amdocs Limited (NYSE: DOX) today reported that for its fiscal fourth quarter ended September 30, 2009, revenue was $707.4 million, a decrease of 14.3% from last year's fourth quarter and up 2.5% sequentially. Net income on a non-GAAP basis was $109.2 million, or $0.53 per diluted share, compared to non-GAAP net income of $117.2 million, or $0.54 per diluted share, in the fourth quarter of fiscal 2008. Non-GAAP net income excludes amortization of purchased intangible assets and equity-based compensation expenses of $23.4 million, net of related tax effects, in the fourth quarter of fiscal 2009 and excludes such amortization, equity-based compensation expenses and restructuring charges of $34.5 million, net of related tax effects, in the fourth quarter of fiscal 2008. The Company's GAAP net income for the fourth quarter of fiscal 2009 was $85.8 million, or $0.42 per diluted share, compared to GAAP net income of $82.7 million, or $0.38 per diluted share, in the prior year's fourth quarter.

"After experiencing a challenging fiscal year, we are pleased that our fourth quarter results demonstrated stronger-than-expected performance across our four key financial metrics: revenue, profitability, earnings and free cash flow. We believe this reflects positively on the value of Amdocs' market leading offerings and strategic position against the backdrop of steadying economic conditions. While indicators are still mixed across our market and the global economy, we are cautiously optimistic that our business is stabilizing to slightly improving, as reflected in our fiscal first quarter guidance for 2010," said Dov Baharav, chief executive officer of Amdocs Management Limited.

Baharav continued, "Reflecting on our relative successes in 2009, we experienced rising interest and strong signings in managed services which we believe addresses the communications industry's need to streamline cost structures, while concurrently offering the option to modernize systems. Additionally, we performed very well in cable and satellite in a tough economy, and we validated our market position by establishing and expanding important relationships with leading operators. We expect these two growth drivers - managed services and cable and satellite - to continue to perform well and provide a strong foundation for our results again in 2010. On the other hand, our project-oriented activities contracted in 2009 as they naturally reacted more sharply to deteriorating economic conditions. We believe, in aggregate, our project-oriented revenue is showing early signs of stabilization; however, decision cycles remain extended and results may still vary quarter to quarter in individual product areas and geographies."

Baharav concluded, "Lastly, we believe we have made the right investments to drive our future long-term growth. Over the course of the recession, we have deepened our relationships with key customers, led the industry in R&D investment, and continued to streamline our cost structure. As a result, we truly believe we are emerging from the global economic crisis in a stronger competitive position than we entered."

Free cash flow was $166 million for the quarter, comprised of cash flow from operations of $184 million less approximately $18 million in net capital expenditures and other.

Twelve-month backlog, which includes anticipated revenue related to contracts, estimated revenue from managed services contracts, letters of intent, maintenance and estimated on-going support activities, was $2.385 billion at the end of the fourth quarter of fiscal 2009.

Financial Outlook

Amdocs expects that revenue for the first quarter of fiscal 2010 will be approximately $705-$725 million. Diluted earnings per share on a non-GAAP basis for the first quarter are expected to be $0.51-$0.55, excluding acquisition-related costs and approximately $0.04-$0.05 per share of equity-based compensation expense, net of related tax effects. Amdocs estimates GAAP diluted earnings per share for the first quarter will be $0.38-$0.44.

Fiscal Year 2009 Results

For the fiscal year ended September 30, 2009, revenue decreased by 9.5% to $2.863 billion. Fiscal 2009 net income on a non-GAAP basis was $438.9 million, or $2.12 per diluted share (excluding acquisition-related costs, which include amortization of purchased intangible assets and in-process research and development write-off, and excluding restructuring charges and equity-based compensation expense, net of related tax effects, of $112.7 million), compared to non-GAAP net income of $499.6 million, or $2.29 per diluted share, in fiscal 2008 (excluding acquisition-related costs, which include amortization of purchased intangible assets and in-process research and development write-off, and excluding restructuring charges and equity-based compensation expense, net of related tax effects, of $120.7 million). The Company's GAAP net income in fiscal 2009 was $326.2 million, or $1.58 per diluted share, compared to GAAP net income of $378.9 million, or $1.74 per diluted share, in fiscal 2008.

Amdocs will host a conference call on November 4, 2009 at 5 p.m. Eastern Time to discuss the Company's fourth quarter results. The call will be carried live on the Internet via the Amdocs website, www.amdocs.com.

Non-GAAP Financial Measures

This release includes non-GAAP diluted earnings per share and other non-GAAP financial measures, including free cash flow, non-GAAP cost of service, non-GAAP research and development, non-GAAP selling, general and administrative, non-GAAP operating income, non-GAAP operating margin, non-GAAP income taxes and non-GAAP net income. These non-GAAP measures exclude the following items:

-- amortization of purchased intangible assets;
-- in-process research and development write-off;
-- restructuring charges;
-- equity-based compensation expense; and
-- tax effects related to the above.

These non-GAAP financial measures are not in accordance with, or an alternative for, generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies. In addition, these non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles. Amdocs believes that non-GAAP financial measures have limitations in that they do not reflect all of the amounts associated with Amdocs' results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Amdocs' results of operations in conjunction with the corresponding GAAP measures.

Amdocs believes that the presentation of non-GAAP diluted earnings per share and other financial measures, including free cash flow, non-GAAP cost of service, non-GAAP research and development, non-GAAP selling, general and administrative, non-GAAP operating income, non-GAAP operating margin, non-GAAP income taxes and non-GAAP net income, when shown in conjunction with the corresponding GAAP measures, provides useful information to investors and management regarding financial and business trends relating to its financial condition and results of operations, as well as the net amount of cash generated by its business operations after taking into account capital spending required to maintain or expand the business.

For its internal budgeting process and in monitoring the results of the business, Amdocs' management uses financial statements that do not include amortization of purchased intangible assets, in-process research and development write-off, restructuring charges, equity-based compensation expense, and related tax effects. Amdocs' management also uses the foregoing non-GAAP financial measures, in addition to the corresponding GAAP measures, in reviewing the financial results of Amdocs. In addition, Amdocs believes that significant groups of investors exclude these non-cash expenses in reviewing its results and those of its competitors, because the amounts of the expenses between companies can vary greatly depending on the assumptions used by an individual company in determining the amounts of the expenses.

Amdocs further believes that, where the adjustments used in calculating non-GAAP diluted earnings per share are based on specific, identified amounts that impact different line items in the Consolidated Statements of Income (including cost of service, research and development, selling, general and administrative, operating income, income taxes and net income), it is useful to investors to understand how these specific line items in the Consolidated Statements of Income are affected by these adjustments.

Please refer to the Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP tables below.

About Amdocs

Amdocs is the market leader in customer experience systems innovation, enabling world-leading service providers to deliver an integrated, innovative and the intentional customer experience(TM) - at every point of service. Amdocs provides solutions that deliver customer experience excellence, combining the software, service and expertise to help its customers execute their strategies and achieve service, operational and financial excellence. A global company with revenue of $2.86 billion in fiscal 2009, Amdocs has approximately 17,000 employees and serves customers in more than 60 countries around the world. For more information, visit Amdocs at www.amdocs.com.

This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs growth and business results in future quarters. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general economic conditions, Amdocs ability to grow in the business markets that it serves, Amdocs ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, the Company specifically disclaims any obligation to do so. These and other risks are discussed at greater length in the Company's filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2008 filed on December 8, 2008 and in our quarterly 6-Ks furnished on February 9, 2009, May 12, 2009 and August 10, 2009.

                                      AMDOCS LIMITED

                            Consolidated Statements of Income

                          (in thousands, except per share data)

                              Three months ended       Twelve months ended
                                September 30,              September 30,
                          -----------------------   -----------------------
                              2009          2008        2009         2008
                          ---------     ---------   ----------   ----------
    Revenue:
     License              $  27,267     $  41,917   $  135,146   $  135,487
     Service                680,152       783,360    2,727,461    3,026,609
                          ---------     ---------   ----------   ----------
                            707,419       825,277    2,862,607    3,162,096
    Operating expenses:
     Cost of license            589           462        2,686        2,729
     Cost of service        450,122       530,428    1,831,947    2,023,562
     Research and
      development            50,274        57,252      210,387      225,492
     Selling, general and
      administrative         88,030       103,171      344,335      404,134
     Amortization of
      purchased intangible
      assets                 21,559        20,385       85,153       86,687
     Restructuring charges
      and in-process
      research and
      development (1)             -        12,116       20,780       13,896
                          ---------     ---------   ----------   ----------
                            610,574       723,814    2,495,288    2,756,500
                          ---------     ---------   ----------   ----------
    Operating income         96,845       101,463      367,319      405,596

    Interest (expense)
     income and other, net     (151)      (11,842)      (1,165)      11,955
                          ---------     ---------   ----------   ----------
    Income before income
     taxes                   96,694        89,621      366,154      417,551

    Income taxes             10,943         6,910       39,978       38,645
                          ---------     ---------   ----------   ----------
    Net income            $  85,751     $  82,711   $  326,176   $  378,906
                          =========     =========   ==========   ==========
    Basic earnings per
     share                $    0.42     $    0.40   $     1.61   $     1.83
                          =========     =========   ==========   ==========
    Diluted earnings per
     share (2)            $    0.42     $    0.38   $     1.58   $     1.74
                          =========     =========   ==========   ==========
    Basic weighted average
     number of shares
     outstanding            203,587       205,164      202,867      206,590
                          =========     =========   ==========   ==========
    Diluted weighted
     average number of
     shares outstanding     204,883       217,479      207,606      219,606
                          =========     =========   ==========   ==========

    (1) Restructuring charges and in-process research and development for the
        twelve months ended September 30, 2009 and 2008 include restructuring
        charges of $15,140 and $12,116 and in-process research and development
        of $5,640 and $1,780, respectively.

    (2) To reflect the impact of assumed conversion of the convertible notes,
        $0 and $1,486, representing interest expense and amortization of
        issuance costs, were added back to net income for the three and twelve
        months ended September 30, 2009, respectively, and $985 and $3,940
        were added back to net income for the three and twelve months ended
        September 30, 2008, respectively, for the purpose of computing diluted
        earnings per share.



                                     AMDOCS LIMITED
                               Selected Financial Metrics
                         (in thousands, except per share data)

                               Three months ended       Twelve months ended
                                  September 30,             September 30,
                              ---------------------  -------------------------
                                 2009        2008        2009           2008
                              ---------   ---------  -----------   -----------

     Revenue                  $ 707,419   $ 825,277  $ 2,862,607   $ 3,162,096

     Non-GAAP operating
      income                    127,984     147,744      516,163       563,669

     Non-GAAP net income        109,198     117,208      438,878       499,608

     Non-GAAP diluted
      earnings per share (1)  $    0.53   $    0.54  $      2.12   $      2.29

     Diluted weighted
      average number of
      shares outstanding        204,883     217,479      207,606       219,606

    (1) To reflect the impact of assumed conversion of the convertible notes,
        $0 and $1,486, representing interest expense and amortization of
        issuance costs, were added back to net income for the three and twelve
        months ended September 30, 2009, respectively, and $985 and $3,940
        were added back to net income for the three and twelve months ended
        September 30, 2008, respectively, for the purpose of computing diluted
        earnings per share.



                                  AMDOCS LIMITED
           Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP
                                 (in thousands)

                                         Three months ended
                                         September 30, 2009
                        -----------------------------------------------------
                                         Reconciliation items
                                 ----------------------------------
                                 Amortization
                                      of
                           GAAP   purchased   Equity based
                                  intangible  compensation    Tax
                                   assets       expense      effect  Non-GAAP
                        -----------------------------------------------------
    Operating expenses:
      Cost of license   $    589   $      -      $     -   $     -  $     589
      Cost of service    450,122          -       (4,957)        -    445,165
      Research and
       development        50,274          -         (972)        -     49,302
      Selling, general
       and administrative 88,030          -       (3,651)        -     84,379
      Amortization of
       purchased
       intangible
       assets             21,559    (21,559)           -         -          -
                        -----------------------------------------------------
    Total operating
     expenses            610,574    (21,559)      (9,580)        -   $579,435
                        -----------------------------------------------------
                        -----------------------------------------------------
    Operating income      96,845     21,559        9,580         -    127,984
                        -----------------------------------------------------
                        -----------------------------------------------------
    Income taxes          10,943          -            -     7,692     18,635
                        -----------------------------------------------------
                        -----------------------------------------------------
    Net income          $ 85,751   $ 21,559      $ 9,580  $ (7,692) $ 109,198
                        -----------------------------------------------------


                                  Three months ended
                                  September 30, 2008
                --------------------------------------------------------------
                                  Reconciliation items
                        ----------------------------------------------
                        Amortization
                  GAAP  of purchased               Equity based
                         intangible  Restructuring compensation  Tax     Non-
                           assets       charges      expense    effect   GAAP
                --------------------------------------------------------------

    Operating
     expenses:
     Cost of
      license   $   462   $     -     $     -      $     -   $     -  $    462
     Cost of
      service   530,428         -           -       (5,836)        -   524,592
     Research
      and
      develop-
      ment       57,252         -           -       (1,088)        -    56,164
     Selling,
      general
      and
      admini-
      strative  103,171         -           -       (6,856)        -    96,315
     Amortization
      of purchased
      intangible
      assets     20,385   (20,385)          -            -         -         -
     Restructuring
      charges and
      in-process
      research and
      develop-
      ment       12,116         -     (12,116)           -         -         -
                --------------------------------------------------------------
    Total
     operating
     expenses   723,814   (20,385)    (12,116)     (13,780)        -  $677,533
                --------------------------------------------------------------
                --------------------------------------------------------------
    Operating
     income     101,463    20,385      12,116       13,780         -   147,744
                --------------------------------------------------------------
                --------------------------------------------------------------
    Income
     taxes        6,910         -           -            -    11,784    18,694
                --------------------------------------------------------------
                --------------------------------------------------------------
    Net income  $82,711   $20,385     $12,116      $13,780 $ (11,784) $117,208
                --------------------------------------------------------------



                                  AMDOCS LIMITED
          Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP
                                  (in thousands)

                                     Twelve months ended
                                      September 30, 2009
                --------------------------------------------------------------
                                     Reconciliation items
                          -------------------------------------------
                                      Restructuring
                          Amortization charges and
                               of      in-process    Equity
                            purchased research and   based
                           intangible development compensation  Tax     Non-
                   GAAP      assets                 expense    effect   GAAP
                --------------------------------------------------------------
    Operating
     expenses:
     Cost of
      license   $   2,686   $      -  $      -   $      -  $      -  $   2,686
     Cost of
      service   1,831,947          -         -    (21,733)        -  1,810,214
     Research
      and
      development 210,387          -         -     (4,249)        -    206,138
     Selling,
      general and
      admini-
      strative    344,335          -         -    (16,929)        -    327,406
     Amortization
      of purchased
      intangible
      assets       85,153    (85,153)        -          -         -          -
     Restructuring
      charges and
      in-process
      research and
      development  20,780          -   (20,780)         -         -          -
                --------------------------------------------------------------
    Total
     operating
     expenses   2,495,288    (85,153)  (20,780)   (42,911)        -  2,346,444
                --------------------------------------------------------------
                --------------------------------------------------------------
    Operating
     income       367,319     85,153    20,780     42,911         -    516,163
                --------------------------------------------------------------
                --------------------------------------------------------------
    Income taxes   39,978          -         -          -    36,142     76,120
                --------------------------------------------------------------
                --------------------------------------------------------------
    Net income  $ 326,176   $ 85,153  $ 20,780   $ 42,911 $ (36,142) $ 438,878
                --------------------------------------------------------------



                                 Twelve months ended
                                  September 30, 2008
                --------------------------------------------------------------
                                     Reconciliation items
                          -------------------------------------------
                                      Restructuring
                          Amortization charges and
                               of      in-process    Equity
                            purchased research and   based
                           intangible development compensation  Tax     Non-
                    GAAP     assets                 expense    effect   GAAP
                --------------------------------------------------------------
    Operating
     expenses:
     Cost of
      license   $   2,729    $     -    $     -   $     -   $     -  $   2,729
     Cost of
      service   2,023,562          -          -   (23,547)        -  2,000,015
     Research
      and
      development 225,492          -          -    (4,714)        -    220,778
     Selling,
      general
      and
      admini-
      strative    404,134          -          -   (29,229)        -    374,905
     Amortization
      of purchased
      intangible
      assets       86,687    (86,687)         -         -         -          -
     Restructuring
      charges and
      in-process
      research
      and
      development  13,896          -    (13,896)        -         -          -
                --------------------------------------------------------------
                --------------------------------------------------------------
    Total
     operating
     expenses   2,756,500    (86,687)   (13,896)  (57,490)        -  2,598,427
                --------------------------------------------------------------
                --------------------------------------------------------------
    Operating
     income       405,596     86,687     13,896    57,490         -    563,669
                --------------------------------------------------------------
                --------------------------------------------------------------
    Income taxes   38,645          -          -         -    37,371     76,016
                --------------------------------------------------------------
                --------------------------------------------------------------
    Net income  $ 378,906   $ 86,687   $ 13,896  $ 57,490 $ (37,371) $ 499,608
                --------------------------------------------------------------



                                   AMDOCS LIMITED
                        Condensed Consolidated Balance Sheets
                                   (in thousands)

                                                            As of
                                                ------------------------------
                                                September 30,    September 30,
                                                      2009            2008
                                                -------------    -------------

    ASSETS

    Current assets
    Cash, cash equivalents and short-term
     interest-bearing investments               $   1,173,041    $   1,244,378
    Accounts receivable, net, including unbilled
     of $21,749 and $48,264, respectively             454,965          573,764
    Deferred income taxes and taxes receivable        117,848           84,515
    Prepaid expenses and other current assets         126,704          102,930
                                                -------------    -------------
        Total current assets                        1,872,558        2,005,587

    Equipment, vehicles and leasehold
     improvements, net                                279,659          317,081
    Goodwill and other intangible assets, net       1,766,761        1,796,922
    Other noncurrent assets                           409,439          459,473
                                                -------------    -------------
    Total assets                                $   4,328,417    $   4,579,063
                                                =============    =============

    LIABILITIES AND SHAREHOLDERS' EQUITY

    Current Liabilities
    Accounts payable, accruals and other        $     415,371    $     601,945
    Deferred revenue                                  186,158          197,851
    Deferred income taxes and taxes payable             9,338           30,228
                                                -------------    -------------
        Total current liabilities                     610,867          830,024
    0.50% Convertible notes                             1,020          450,000
    Noncurrent liabilities and other                  503,477          493,848
    Shareholders' equity                            3,213,053        2,805,191
                                                -------------    -------------
    Total liabilities and shareholders' equity  $   4,328,417    $   4,579,063
                                                =============    =============



                                       AMDOCS LIMITED
                         Consolidated Statements of Cash Flows
                                       (in thousands)

                                                    Year ended September 30,
                                                   --------------------------
                                                        2009          2008
                                                   ------------  ------------
      Cash Flow from Operating Activities:
      Net income                                   $   326,176   $   378,906
      Reconciliation of net income to net
       cash provided by operating activities:
         Depreciation and amortization                 198,119       192,937
         In-process research and development
          expenses                                       5,640         1,780
         Equity-based compensation expense              42,911        57,490
         Loss (gain) on sale of equipment                  197          (970)
         Deferred income taxes                          16,249         1,111
         Gain on repurchase of convertible
          notes                                         (2,185)            -
         Excess tax benefit from equity-based
          compensation                                     (18)         (211)
         Loss from short-term interest-bearing
          investments                                    4,449         4,945
     Net changes in operating assets and
      liabilities, net of amounts acquired:
       Accounts receivable, net                        131,527      (118,291)
       Prepaid expenses and other current assets       (13,614)        4,173
       Other noncurrent assets                          (2,690)      (31,739)
       Accounts payable, accrued expenses
        and accrued personnel                         (160,321)      (27,501)
       Deferred revenue                                 20,956        28,408
       Income taxes payable, net                       (19,980)      (26,824)
       Noncurrent liabilities and other                (28,260)       18,799
                                                   ------------  ------------
     Net cash provided by operating activities         519,156       483,013
                                                   ------------  ------------
     Cash Flow from Investing Activities:
     Proceeds from sale of equipment,
      vehicles and leasehold improvements                  994         2,655
     Payments for purchase of equipment
      and leasehold improvements                       (83,325)     (135,823)
     Proceeds from sale of short-term
      interest-bearing investments                   1,045,278       708,708
     Purchase of short-term
      interest-bearing investments                    (963,433)     (685,873)
     Net cash paid for acquisitions                    (65,890)      (58,772)
                                                   ------------  ------------
     Net cash used in investing activities             (66,376)     (169,105)
                                                   ------------  ------------

     Cash Flow from Financing Activities:
     Borrowings under long-term financing
      arrangements                                     450,000             -
     Payments under long-term financing
      arrangements                                    (450,000)            -
     Redemption of convertible notes                  (330,780)         (175)
     Repurchase of convertible notes                  (116,015)            -
     Repurchase of shares                              (20,014)     (247,630)
     Proceeds from employee stock options
      exercised                                         27,893        37,577
     Payments under capital lease and
      short-term financing arrangements                 (3,970)         (542)
     Excess tax benefit from equity-based
      compensation                                          18           211
                                                   ------------  ------------
     Net cash used in financing activities            (442,868)     (210,559)
                                                   ------------  ------------
     Net increase in cash and cash
      equivalents                                        9,912       103,349
     Cash and cash equivalents at
      beginning of year                                718,850       615,501
                                                   ------------  ------------
     Cash and cash equivalents at end of
      year                                         $   728,762   $   718,850
                                                   ============  ============


                                     AMDOCS LIMITED
                               Supplementary Information
                                      (in millions)

                   -----------------------------------------------------------
                                   Three months ended
                   -----------------------------------------------------------
                   September 30, June 30, March 31, December 31, September 30,
                       2009        2009     2009        2008         2008
                   ------------- -------- --------- ------------ -------------
     North America  $  528.0     $ 527.7  $ 539.8    $  561.6     $  558.7
     Europe             93.0        84.4    105.0       111.4        150.9
     Rest of World      86.4        78.2     66.3        80.8        115.7
                   ------------- -------- --------- ------------ -------------
    Total Revenue   $  707.4     $ 690.3  $ 711.1    $  753.8     $  825.3
                   ============= ======== ========= ============ =============

                   -----------------------------------------------------------
                                        Three months ended
                   -----------------------------------------------------------
                   September 30, June 30, March 31, December 31, September 30,
                       2009        2009     2009        2008         2008
                   ------------- -------- --------- ------------ -------------
     Customer
      Experience    $  668.6     $ 647.9  $ 668.0    $  701.0     $  756.5
     Systems
     Directory          38.8        42.4     43.1        52.8         68.8
                   ------------- -------- --------- ------------ -------------
    Total Revenue   $  707.4     $ 690.3  $ 711.1    $  753.8     $  825.3
                   ============= ======== ========= ============ =============

                   -----------------------------------------------------------
                                                 As of
                   -----------------------------------------------------------
                   September 30, June 30, March 31, December 31, September 30,
                       2009        2009     2009        2008         2008
                   ------------- -------- --------- ------------ -------------
    12-Month
     Backlog        $  2,385     $ 2,370  $ 2,370    $  2,400     $  2,420
                   ------------- -------- --------- ------------ -------------

SOURCE Amdocs

Elizabeth Grausam, Director of Investor Relations, Amdocs Limited, +1-314-212-8328, dox_info@amdocs.com