Amdocs earnings slump on forex fluctuations

OSS/BSS and CRM vendor Amdocs said its March-quarter profit fell nearly 15% to $68.6 million due to forex losses and amortization effects.

The company said forex losses impacted revenue by around $6 million, but it still managed to take in $744 million, at the top-end of its $730-$750 million guidance range.

But other expenses impacted the bottom line, including equity-based compensation expenses of $48.3 million and write-downs and amortization on investments and assets.

Barring these expenses, non-GAAP net profit was $116.9 million, compared to non-GAAP profit of $116.9 million in the previous corresponding period.

Amdocs is forecasting third-quarter earnings-per-share of between $0.41 and $0.46 in the current quarter.