Comverse Inc (CNSI) President and Chief Executive Officer Philippe Tartavull said the company is committed to becoming free-cash-flow positive in 2015. He was speaking at the 17th annual Needham Growth Conference, held at the Palace Hotel in New York City.
The company, which provides such technology services as billing systems and communications management, is “moving our platform to the cloud,” said Tartavull, and has done extensive restructuring resulting in savings of $30 million, he said. Comverse is moving to software-only delivery models and software platforms to the cloud, Tartavull said, while managed services “should generate higher operating margins.”
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Tartavull said the company expects revenue of $480 million for 2014, with $220 million in cash reserves and no debt as of October 31. Additional restructuring and outsourcing is expected in 2015, Tartavull said, with the company using its debt-free balance sheet assets to help accelerate growth.
Comverse is targeting markets growing on average 15% for the next three to five years, Tartavull said. It is focusing on “faster-growing” technology markets as voicemail and video mail decline, Tartavull said, working with such customers as Verizon, AT&T, Bell and Foxtel, among others. It has 450 customers worldwide.
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