Amdocs Limited (NYSE: DOX), the software company that specializes in telecom billing solutions, announced record quarterly revenues. On the news the stock closed up $6.27. The Israeli company beat estimates and re-affirmed full year guidance.

"We are pleased with our results for the first quarter of fiscal 2008 and believe that we are positioned to achieve our goals for this fiscal year," said Dov Baharav, chief executive officer of Amdocs Management Limited. "This was a very good quarter in terms of new sales, highlighted by the significant expansion of our managed services activities at AT&T and our win at Sprint."

With a strong quarter and continued new deals like those with AT&T Inc. (NYSE: T) and Sprint Nextel Corporation (NYSE: S), along with their push into mobile billing solutions, the stock continues to be one of our favorites for '08.

Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. DISCLOSURE: Writer has a position and is long DOX. He has no positions in any stock mentioned as of 1/23/08