6-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

Form 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

For the month of July, 2015

Commission File Number 1-14840

 

 

AMDOCS LIMITED

Hirzel House, Smith Street,

St. Peter Port, Island of Guernsey, GY1 2NG

 

 

Amdocs, Inc.

1390 Timberlake Manor Parkway, Chesterfield, Missouri 63017

(Address of principal executive offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

FORM 20-F  þ             FORM 40-F  ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨

Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:

YES  ¨             NO  þ

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-            

 

 

 


On July 29, 2015, Amdocs Limited (“Amdocs”) issued a press release announcing financial results for the quarter ended June 30, 2015. A copy of the press release is furnished as Exhibit 99.1 to this Report of Foreign Private Issuer on Form 6-K.

The information in this Form 6-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

AMDOCS LIMITED
By:   /s/ Matthew E. Smith
 

Matthew E. Smith

Secretary and Authorized Signatory

Date: July 29, 2015


EXHIBIT INDEX

 

EXHIBIT NO.

  

DESCRIPTION

99.1    Amdocs Limited Press Release dated July 29, 2015.
EX-99.1

Exhibit 99.1

 

LOGO

Amdocs Limited Reports Record Quarterly Revenue of $908M

Expects FY15 Non-GAAP Diluted EPS Growth Towards the Midpoint of the Previously Guided Range of 4.5%-7.5% YoY

Key highlights:

 

    Closed the previously announced acquisition of the Comverse business support systems (BSS) assets on July 2, 2015, for $273 million in cash

 

    Third fiscal quarter revenue of $908 million, within the $885-$925 million guidance range. Revenue was in line with the midpoint of expectations, excluding foreign currency movements. Foreign currency movements positively affected revenue by approximately $1 million relative to the second quarter of fiscal 2015

 

    Third fiscal quarter non-GAAP operating income of $155 million; non-GAAP operating margin of 17.1%; GAAP operating income of $127 million

 

    Third fiscal quarter diluted non-GAAP EPS of $0.84, two cents above midpoint of the $0.79-$0.85 guidance range, excluding amortization of purchased intangible assets and other acquisition-related costs and equity-based compensation expense, net of related tax effects

 

    Diluted GAAP EPS of $0.69 for the third fiscal quarter, within the $0.65-$0.73 guidance range

 

    Strong free cash flow of $190 million for the third fiscal quarter

 

    Repurchased $60 million of ordinary shares during the third fiscal quarter

 

    Twelve-month backlog of $3.01 billion at the end of the third fiscal quarter, up $10 million from the end of the second quarter of fiscal 2015

 

    The Board of Directors approved a $0.17 per share quarterly cash dividend to be paid on October 16, 2015

 

   

Fourth quarter fiscal 2015 guidance: Expected revenue of approximately $915-$955 million, including the acquired Comverse BSS assets. Expected diluted non-GAAP


 

EPS of approximately $0.79-$0.85, excluding amortization of purchased intangible assets and other acquisition-related costs, at least $0.09 per share of nonrecurring restructuring charges associated with the acquisition of the Comverse BSS assets, and approximately $0.05-$0.06 per share of equity-based compensation expense, net of related tax effects. Expected diluted GAAP EPS of approximately $0.49-$0.59. The impact on diluted GAAP EPS of the acquisition of the Comverse BSS assets is subject to finalization of the purchase price allocation by Amdocs

 

    Full year fiscal 2015 revenue guidance: Expects fiscal 2015 revenue growth, on a constant currency basis, towards the midpoint of the guidance range provided on November 4, 2014 of 2.5% to 5.5% year-over-year. Expects fiscal 2015 reported revenue growth of 2.0% to 3.0% year-over-year

ST. LOUIS – July 29, 2015 – Amdocs Limited (NASDAQ: DOX) today reported that for its third fiscal quarter ended June 30, 2015, revenue was $907.9 million, up 0.6% sequentially from the second fiscal quarter of 2015 and up 0.6% as compared to last year’s third fiscal quarter. Third fiscal quarter revenue includes a positive impact from foreign currency movements of approximately $1 million relative to the second quarter of fiscal 2015. Net income on a non-GAAP basis was $131.2 million, or $0.84 per diluted share, compared to non-GAAP net income of $130.9 million, or $0.81 per diluted share, in the third quarter of fiscal 2014. Non-GAAP net income excludes amortization of purchased intangible assets and other acquisition-related costs and equity-based compensation expenses of $23.4 million, net of related tax effects, in the third quarter of fiscal 2015 and excludes such amortization and other acquisition-related costs and equity-based compensation expenses of $21.1 million, net of related tax effects, in the third quarter of fiscal 2014. The Company’s GAAP net income for the third quarter of fiscal 2015 was $107.8 million, or $0.69 per diluted share, compared to GAAP net income of $109.8 million, or $0.68 per diluted share, in the prior fiscal year’s third quarter.

“We are pleased with our solid results for the third fiscal quarter and the continued progress we have made executing on our various growth initiatives. During the quarter, we expanded our product suite with the launch of CES 9.3 and renewed several managed services agreements which broaden those customer relationships for the long-term. At the same


time, we remained focused on our delivery and execution, such as the recently completed migration of FarEastTone’s prepaid subscribers to an advanced Amdocs charging and billing system. Finally, the ramp-up of project awards with strategic customers contributed to another quarter of record revenue in our Rest of the World markets,” said Eli Gelman, president and chief executive officer of Amdocs Management Limited.

Gelman continued, “Shortly after the close of the third quarter, we completed the acquisition of a substantial majority of Comverse’s BSS assets for $273 million in cash. The integration process is now underway and we are committed to ensuring business continuity and support for all aspects of the customer relationships acquired from Comverse. Along these lines, a leading service provider in Latin America recently upgraded its business support system based on the Comverse Kenan technology we acquired to deliver new services, reduce costs and support its growing customer base. Moreover, we look forward to strengthening and expanding our relationship with Comverse BSS customers such as this by bringing world class services, capabilities and a much broader range of offerings for their long-term benefit.”

Gelman concluded, “We enter our fourth fiscal quarter with a strong win rate for the year to date. Uncertainty persists as a result of consolidation activity in our key markets, but our competitive position remains strong and we expect to benefit once trends improve. Additionally, our consistent focus on operational and financial execution continues to manifest in strong free cash flow generation. Combined with our commitment to proactively allocate capital over the short and long-term, we believe that we can deliver diluted non-GAAP earnings per share growth towards the midpoint of our previously guided range of 4.5% to 7.5% for the full fiscal year 2015.”

Financial Discussion of Third Fiscal Quarter Results

Free cash flow was $190 million for the quarter, comprised of cash flow from operations of $222 million less $32 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 $3.01 billion at the end of the third quarter of fiscal 2015, up $10 million sequentially.


Financial Outlook

Amdocs expects that revenue for the fourth quarter of fiscal 2015 will be approximately $915-$955 million, including the acquired Comverse BSS assets. This outlook takes into consideration our expectations regarding macro and industry specific risks and various uncertainties resulting from current and potential customer consolidation activity in North America. However, we remind you that we cannot predict all possible outcomes.

Diluted earnings per share on a non-GAAP basis for the fourth fiscal quarter is expected to be $0.79-$0.85, excluding amortization of purchased intangible assets and other acquisition-related costs, at least $0.09 per share of nonrecurring restructuring charges associated with the acquisition of the Comverse BSS assets, and approximately $0.05-$0.06 per share of equity-based compensation expense, net of related tax effects. Amdocs estimates GAAP diluted earnings per share for the fourth fiscal quarter will be $0.49-$0.59. The impact on diluted GAAP EPS of the acquisition of the Comverse BSS assets is subject to finalization of the purchase price allocation by Amdocs.

Quarterly Cash Dividend Program

On July 29, 2015, the Board approved the Company’s next quarterly cash dividend payment of $0.17 per share and set September 30, 2015 as the record date for determining the shareholders entitled to receive the dividend, which is payable on October 16, 2015.

Conference Call Details

Amdocs will host a conference call on July 29, 2015 at 5:00 p.m. Eastern Time to discuss the Company’s third fiscal quarter results. To participate, please dial +1 (330) 863-3318, or +1 (855) 870-4313 outside the United States, approximately 15 minutes before the call and enter passcode 69811795. The call will also 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 revenue, non-GAAP research and development, non-GAAP selling, general and administrative, non-GAAP operating income, non-GAAP operating margin, non-GAAP interest and other expense, net, non-GAAP income taxes, non-GAAP effective tax rate, non-GAAP net income and non-GAAP diluted earnings per share growth. These non-GAAP measures exclude the following items:

 

    amortization of purchased intangible assets and other acquisition-related costs;

 

    changes in fair value of certain acquisition-related liabilities;

 

    nonrecurring restructuring charges associated with the Comverse acquisition;

 

    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 revenue, non-GAAP research and development, non-GAAP selling, general and administrative, non-GAAP operating income, non-GAAP operating margin, non-GAAP interest and other expense, net, non-GAAP income taxes, non-GAAP effective tax rate, non-GAAP net income and non-GAAP diluted earnings per share growth 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 and other acquisition-related costs, changes in fair value of certain acquisition-related liabilities, 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 items in reviewing its results and those of its competitors, because the amounts of the items between companies can vary greatly depending on the assumptions used by an individual company in determining the amounts of the items.

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 revenue, research and development, selling, general and administrative, operating income, interest and other expense, net, 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 software solutions and services for the world’s largest communications, entertainment and media service providers. Our portfolio powers The New World of Customer Experience™, where a wide array of innovative and personalized services are delivered seamlessly to end users, regardless of device or network.

For more than 30 years, Amdocs solutions, which include BSS, OSS, network control and optimization, coupled with our professional and managed services, have accelerated business value for our customers by streamlining complex operating environments, reducing costs and speeding time to market for new products and services.


Amdocs and our more than 24,000 employees serve customers in over 90 countries. Listed on the NASDAQ Global Select Market, Amdocs had revenue of $3.6 billion in fiscal 2014.

Amdocs: Embrace Challenge, Experience Success.

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, 2014 filed on December 8, 2014, our Form 6-K furnished for the first quarter of fiscal 2015 on February 9, 2015 and our Form 6-K furnished for the second quarter of fiscal 2015 on May 11, 2015.

Contact:

Matthew Smith

Head of Investor Relations

Amdocs

314-212-8328

E-mail: dox_info@amdocs.com


AMDOCS LIMITED

Consolidated Statements of Income

(in thousands, except per share data)

 

     Three months ended      Nine months ended  
     June 30,      June 30,  
     2015      2014      2015      2014  

Revenue

   $ 907,897       $ 902,477       $ 2,716,762       $ 2,663,376   

Operating expenses:

           

Cost of revenue

     592,366         584,604         1,746,383         1,725,291   

Research and development

     62,598         64,863         189,044         190,292   

Selling, general and administrative

     108,128         112,681         328,894         335,078   

Amortization of purchased intangible assets and other

     18,078         15,326         46,193         43,174   
  

 

 

    

 

 

    

 

 

    

 

 

 
     781,170         777,474         2,310,514         2,293,835   
  

 

 

    

 

 

    

 

 

    

 

 

 

Operating income

     126,727         125,003         406,248         369,541   

Interest and other expense, net

     1,044         748         1,169         4,060   
  

 

 

    

 

 

    

 

 

    

 

 

 

Income before income taxes

     125,683         124,255         405,079         365,481   

Income taxes

     17,901         14,428         50,046         43,862   
  

 

 

    

 

 

    

 

 

    

 

 

 

Net income

   $ 107,782       $ 109,827       $ 355,033       $ 321,619   
  

 

 

    

 

 

    

 

 

    

 

 

 

Basic earnings per share

   $ 0.70       $ 0.69       $ 2.29       $ 2.02   
  

 

 

    

 

 

    

 

 

    

 

 

 

Diluted earnings per share

   $ 0.69       $ 0.68       $ 2.26       $ 1.99   
  

 

 

    

 

 

    

 

 

    

 

 

 

Basic weighted average number of shares outstanding

     154,101         159,257         155,037         159,574   
  

 

 

    

 

 

    

 

 

    

 

 

 

Diluted weighted average number of shares outstanding

     156,581         161,725         157,352         161,939   
  

 

 

    

 

 

    

 

 

    

 

 

 

Cash dividends declared per share

   $ 0.170       $ 0.155       $ 0.495       $ 0.440   
  

 

 

    

 

 

    

 

 

    

 

 

 


AMDOCS LIMITED

Selected Financial Metrics

(in thousands, except per share data)

 

     Three months ended
June 30,
     Nine months ended
June 30,
 
     2015      2014      2015      2014  

Revenue

   $ 907,897       $ 902,477       $ 2,716,762       $ 2,663,376   

Non-GAAP operating income

     155,305         150,849         461,758         446,735   

Non-GAAP net income

     131,215         130,919         399,347         385,333   

Non-GAAP diluted earnings per share

   $ 0.84       $ 0.81       $ 2.54       $ 2.38   

Diluted weighted average number of shares outstanding

     156,581         161,725         157,352         161,939   


AMDOCS LIMITED

Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP

(in thousands)

 

     Three months ended
June 30, 2015
 
            Reconciliation items        
     GAAP      Amortization of
purchased
intangible assets
and other
    Equity based
compensation
expense
    Tax effect     Non-GAAP  

Operating expenses:

           

Cost of revenue

   $ 592,366       $ —        $ (3,786   $ —        $ 588,580   

Research and development

     62,598         —          (816     —          61,782   

Selling, general and administrative

     108,128         —          (5,898     —          102,230   

Amortization of purchased intangible assets and other

     18,078         (18,078     —          —          —     
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Total operating expenses

     781,170         (18,078     (10,500     —          752,592   
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

     126,727         18,078        10,500        —          155,305   
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Income taxes

     17,901         —          —          5,145        23,046   
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Net income

   $ 107,782       $ 18,078      $ 10,500      $ (5,145   $ 131,215   
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

 

     Three months ended
June 30, 2014
 
            Reconciliation items        
     GAAP      Amortization of
purchased
intangible assets
and other
    Equity based
compensation
expense
    Tax effect     Non-GAAP  

Operating expenses:

           

Cost of revenue

   $ 584,604       $ —        $ (4,297   $ —        $ 580,307   

Research and development

     64,863         —          (880     —          63,983   

Selling, general and administrative

     112,681         —          (5,343     —          107,338   

Amortization of purchased intangible assets and other

     15,326         (15,326     —          —          —     
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Total operating expenses

     777,474         (15,326     (10,520     —          751,628   
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

     125,003         15,326        10,520        —          150,849   
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Income taxes

     14,428         —          —          4,754        19,182   
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Net income

   $ 109,827       $ 15,326      $ 10,520      $ (4,754   $ 130,919   
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 


AMDOCS LIMITED

Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP

(in thousands)

 

     Nine months ended
June 30, 2015
 
            Reconciliation items        
     GAAP      Amortization of
purchased
intangible
assets and other
    Equity based
compensation
expense
    Changes in fair
value of certain
acquisition-
related liabilities
    Tax effect     Non-GAAP  

Operating expenses:

           

Cost of revenue

   $ 1,746,383       $ —        $ (11,767   $ 24,906      $ —        $ 1,759,522   

Research and development

     189,044         —          (2,570     —          —          186,474   

Selling, general and administrative

     328,894         —          (19,886     —          —          309,008   

Amortization of purchased intangible assets and other

     46,193         (46,193     —          —          —          —     
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total operating expenses

     2,310,514         (46,193     (34,223     24,906        —          2,255,004   
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

     406,248         46,193        34,223        (24,906     —          461,758   
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Interest and other expense, net

     1,169         —          —          3,921        —          5,090   
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income taxes

     50,046         —          —          —          7,275        57,321   
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income

   $ 355,033       $ 46,193      $ 34,223      $ (28,827   $ (7,275   $ 399,347   
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

     Nine months ended
June 30, 2014
 
            Reconciliation items        
     GAAP      Amortization of
purchased
intangible assets
and other
    Equity based
compensation
expense
    Tax effect     Non-GAAP  

Operating expenses:

         

Cost of revenue

   $ 1,725,291       $ —        $ (13,220   $ —        $ 1,712,071   

Research and development

     190,292         —          (2,685     —          187,607   

Selling, general and administrative

     335,078         —          (18,115     —          316,963   

Amortization of purchased intangible assets and other

     43,174         (43,174     —          —          —     
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Total operating expenses

     2,293,835         (43,174     (34,020     —          2,216,641   
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

     369,541         43,174        34,020        —          446,735   
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Income taxes

     43,862         —          —          13,480        57,342   
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Net income

   $ 321,619       $ 43,174      $ 34,020      $ (13,480   $ 385,333   
  

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 


AMDOCS LIMITED

Condensed Consolidated Balance Sheets

(in thousands)

 

     As of  
     June 30,
2015
     September 30,
2014
 

ASSETS

     

Current assets

     

Cash, cash equivalents and short-term interest-bearing investments

   $ 1,401,708       $ 1,424,465   

Accounts receivable, net, including unbilled of $96,355 and $134,523, respectively

     739,927         715,837   

Deferred income taxes and taxes receivable

     182,422         148,346   

Prepaid expenses and other current assets

     130,957         135,326   
  

 

 

    

 

 

 

Total current assets

     2,455,014         2,423,974   

Equipment and leasehold improvements, net

     286,183         288,956   

Goodwill and other intangible assets, net

     2,071,678         2,106,452   

Other noncurrent assets

     355,452         365,895   
  

 

 

    

 

 

 

Total assets

   $ 5,168,327       $ 5,185,277   
  

 

 

    

 

 

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

     

Current liabilities

     

Accounts payable, accruals and other

   $ 850,533       $ 785,548   

Short-term financing arrangements

     —           210,000   

Deferred revenue

     174,425         156,743   

Deferred income taxes and taxes payable

     76,434         48,456   
  

 

 

    

 

 

 

Total current liabilities

     1,101,392         1,200,747   

Other noncurrent liabilities

     550,634         588,694   

Shareholders’ equity

     3,516,301         3,395,836   
  

 

 

    

 

 

 

Total liabilities and shareholders’ equity

   $ 5,168,327       $ 5,185,277   
  

 

 

    

 

 

 


AMDOCS LIMITED

Consolidated Statements of Cash Flows

(in thousands)

 

     Nine months ended June 30,  
     2015     2014  

Cash Flow from Operating Activities:

    

Net income

   $ 355,033      $ 321,619   

Reconciliation of net income to net cash provided by operating activities:

    

Depreciation and amortization

     123,136        116,911   

Equity-based compensation expense

     34,223        34,020   

Deferred income taxes

     (22,797     (5,336

Excess tax benefit from equity-based compensation

     (4,040     (574

Loss from short-term interest-bearing investments

     275        737   

Net changes in operating assets and liabilities, net of amounts acquired:

    

Accounts receivable

     (22,081     (40,570

Prepaid expenses and other current assets

     12,612        2,828   

Other noncurrent assets

     1,310        (17,639

Accounts payable, accrued expenses and accrued personnel

     78,395        25,955   

Deferred revenue

     6,597        55,625   

Income taxes payable

     18,498        5,802   

Other noncurrent liabilities

     (15,314     16,980   
  

 

 

   

 

 

 

Net cash provided by operating activities

     565,847        516,358   
  

 

 

   

 

 

 

Cash Flow from Investing Activities:

    

Payments for purchase of equipment and leasehold improvements, net

     (91,501     (77,881

Proceeds from sale of short-term interest-bearing investments

     180,758        284,926   

Purchase of short-term interest-bearing investments

     (184,724     (294,091

Net cash paid for acquisitions

     (8,099     (180,540

Other

     931        3,348   
  

 

 

   

 

 

 

Net cash used in investing activities

     (102,635     (264,238
  

 

 

   

 

 

 

Cash Flow from Financing Activities:

    

Payments under financing arrangements

     (210,000     (200,000

Repurchase of shares

     (272,211     (261,916

Proceeds from employee stock options exercised

     62,951        116,041   

Payments of dividends

     (74,663     (66,363

Excess tax benefit from equity-based compensation

     4,040        574   

Other

     (7     (710
  

 

 

   

 

 

 

Net cash used in financing activities

     (489,890     (412,374
  

 

 

   

 

 

 

Net decrease in cash and cash equivalents

     (26,678     (160,254

Cash and cash equivalents at beginning of period

     1,103,269        1,014,192   
  

 

 

   

 

 

 

Cash and cash equivalents at end of period

   $ 1,076,591      $ 853,938   
  

 

 

   

 

 

 


AMDOCS LIMITED

Supplementary Information

(in millions)

 

     Three months ended  
     June 30, 2015      March 31, 2015      December 31,
2014
     September 30,
2014
     June 30,
2014
 

North America

   $ 623.1       $ 646.7       $ 659.1       $ 662.7       $ 647.2   

Europe

     102.3         97.6         106.9         105.3         114.6   

Rest of the World

     182.5         158.3         140.3         132.3         140.7   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total Revenue

   $ 907.9       $ 902.6       $ 906.3       $ 900.3       $ 902.5   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
     Three months ended  
     June 30, 2015      March 31, 2015      December 31,
2014
     September 30,
2014
     June 30,
2014
 

Managed Services Revenue

   $ 460.6       $ 448.8       $ 467.1       $ 436.4       $ 438.0   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
     Three months ended  
     June 30, 2015      March 31, 2015      December 31,
2014
     September 30,
2014
     June 30,
2014
 

Customer Experience Systems

   $ 883.7       $ 877.1       $ 882.4       $ 871.5       $ 870.8   

Directory

     24.2         25.5         23.9         28.8         31.7   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total Revenue

   $ 907.9       $ 902.6       $ 906.3       $ 900.3       $ 902.5   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 
     As of  
     June 30, 2015      March 31, 2015      December 31,
2014
     September 30,
2014
     June 30,
2014
 

12-Month Backlog

   $ 3,010       $ 3,000       $ 3,030       $ 3,000       $ 2,970   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

# # #