Amdocs Q3 revenue surge 23%, acquires Cramer

Amdocs posted a 23% increase in revenue to $626 million in the third quarter, expecting to make another $657 million in the fiscal fourth quarter.
Non-GAAP EPS for the quarter jumped 32% to $0.49, exceeding the company's $0.46 target. Free cash flow reached $94 million.
After the quarter, Amdocs signed an agreement to acquire OSS software and solutions provider Cramer Systems Group for approximately $375 million in cash, net of cash on hand. Cramer will form a new division in Amdocs, which would focus on the company's OSS strategy and activities.
For fiscal 2007, Amdocs expects revenue of between $2.88 billion and $2.98 billion.