(photo credit: Channel 10)
Comverse Technology Inc. intends to hire new employees for its billing
division and to raise salaries in 2012, chief operating officer Oded Golan said
Monday at the quarterly meeting of the company’s employees.
followed years of firings in Israel and abroad as the company’s cash reserves
dwindled in attempts to amend the financial reports of previous years due to a
backdating scandal that rocked the company.
Comverse recently submitted
an application to the US Securities Exchange Commission requesting the
allocation and registration of shares options as incentives for the company’s
executives and employees.
Comverse reported revenue of $243.5 million in
its third fiscal quarter of 2011, which ended October 31, up 6.5 percent from
the corresponding quarter of 2010.
Profit was up 6.1% from the
corresponding period to $43.4m. in the third quarter, and there was a positive
cash flow of $5m.
“Over the past few months, we have made great strides
toward overcoming the challenges of the past, and we are now focused on building
for a brighter future,” Comverse Technology CEO Charles Burdick said in a letter
“With our accounting issues behind us, we have relisted on
NASDAQ, and we are now able to operate without many of the constraints and
obstacles of the past. For example, I am currently working with the board of
directors and human resources to develop a comprehensive compensation plan that
will be competitive in the marketplace. This should enhance our efforts to
attract, recruit and retain talented employees and help us become a more
attractive place to work for current and future employees.”
to Comverse Inc., which provides software for billing and value-added services,
Comverse Technology holds 52% of voice- and video-recording developer Verint
Systems Inc. and 66% of roaming services company Starhome.