Verint Systems said Tuesday it has received an order worth more than $35 million for multiple components of its cyber intelligence portfolio.
The contract was awarded by an existing government contractor following a competitive process and includes terms that allow the customer to increase or reduce the scope of the project in the future. The deployment is expected to take approximately two years.
The company said the order isn’t expected to have a material impact on Q4 results or on ability to achieve the guidance for the fiscal year ended Jan. 31.
Verint said it continues to expect a decline in cyber intelligence revenue in the current fiscal year compared to the prior year.
“However, this order, combined with overall recent business activity, provides the company with increased confidence that the decline in its cyber intelligence business this year was temporary and that the…business will return to growth during” the fiscal year ending Jan. 31, 2018.