Exhibit 99.1

P R E S S    R E L E A S E

Amdocs Limited Reports Quarterly Revenue of $801 Million, Up 6.4% YoY

Key highlights:

• After 14 years, Bruce Anderson will retire as Chairman of the Board of Directors at the end of the current fiscal year, but has agreed to stand for reelection for one additional term as a Director to facilitate the transition in leadership. Robert Minicucci, a current Director also with a 14-year tenure on the Board, has been appointed to succeed Mr. Anderson in the role of Chairman, effective October 1, 2011.

• Third fiscal quarter revenue of $801 million, compared to the $790-$805 million guidance range. Foreign currency movements positively impacted revenue by approximately $5 million sequentially relative to the second fiscal quarter of 2011

• Third fiscal quarter non-GAAP operating income of $132 million; non-GAAP operating margin of 16.4%; GAAP operating income of $106 million

• Third fiscal quarter diluted non-GAAP EPS of $0.61, compared to the $0.57-$0.63 guidance range, excluding amortization of purchased intangible assets and other acquisition related costs and equity-based compensation expense, net of related tax effects

• Diluted GAAP EPS of $0.50 for the third fiscal quarter, compared to the $0.45-$0.53 guidance range

• Free cash flow of $125 million for the third fiscal quarter

• Twelve-month backlog of $2.62 billion at the end of the third fiscal quarter, up $30 million from the end of the second fiscal quarter of 2011

• Fourth quarter fiscal 2011 guidance (excluding the impact of the pending acquisition of Bridgewater Systems Corporation): Expected revenue of approximately $800-$815 million and diluted non-GAAP EPS of $0.58-$0.64, excluding amortization of purchased intangible assets and other acquisition related costs and approximately $0.04-$0.05 per share of equity-based compensation expense, net of related tax effects. Diluted GAAP EPS is expected to be approximately $0.46-$0.54

• Repurchased $157 million of ordinary shares during the third fiscal quarter

ST. LOUIS — July 27, 2011 — Amdocs Limited (NYSE: DOX) today reported that for its third fiscal quarter ended June 30, 2011, revenue was $801.4 million, up 1.6% sequentially from the second fiscal quarter of 2011 and up 6.4% as compared to last year’s third fiscal quarter. Net income on a non-GAAP basis was $113.3 million, or $0.61 per diluted share, compared to non-GAAP net income of $119.4 million, or $0.58 per diluted share, in the third quarter of fiscal 2010. Non-GAAP net income excludes amortization of purchased intangible assets and other acquisition related costs and equity-based compensation expenses of $21.5 million, net of related tax effects, in the third quarter of fiscal 2011 and excludes such amortization, loss from divestiture of a subsidiary and equity-based compensation expenses of $27.1 million, net of related tax effects, in the third quarter of fiscal 2010. The Company’s GAAP net income for the third quarter of fiscal 2011 was $91.8 million, or $0.50 per diluted share, compared to GAAP net income of $92.3 million, or $0.45 per diluted share, in the prior year’s third quarter.

“Our solid third fiscal quarter results reflect global demand for Amdocs solutions, on-going momentum in the emerging markets, and improving execution in Europe. In the emerging markets, activity levels among current and new customers remain high as service providers in Asia and Latin America increasingly require more sophisticated BSS and OSS systems to support a better customer experience. Additionally, in Europe we are beginning to see the results of our greater focus and management re-alignment in the region. We are also beginning to reap the benefits from our recent investment initiatives, which drove the modest sequential improvement in profitability during the third quarter,” said Eli Gelman, chief executive officer of Amdocs Management Limited.

Gelman continued, “We continue to execute on our share repurchase plan, demonstrating our confidence in Amdocs’ future and our commitment to enhancing shareholder value. Since we resumed our buyback activity in April 2010, we have repurchased $821 million of our ordinary shares, or approximately 14% of our shares outstanding.”

Gelman said, “During the third quarter we signed a definitive agreement to acquire Bridgewater Systems Corporation which, when closed, will mark an additional step forward in our strategy to redefine the ways in which service providers can monetize data services. Service providers today need to find more advanced and innovative methods to fairly charge

for the value and usage of data. The combination of Amdocs and Bridgewater will enable service providers to support virtually any pricing strategy for data services, based on the combination of advanced customer models coupled with network level information. We look forward to closing the deal by the end of the current quarter and officially welcoming the Bridgewater team to Amdocs.”

Gelman concluded, “Looking into the fourth fiscal quarter, we are pleased that our outlook reflects similar trends to those we delivered in the third quarter (excluding the effects of currency fluctuations). Global demand remains stable, and we believe the investments we are currently making in our customers, our products and our people are serving to strengthen our competitive position. Last, we would like to thank Bruce Anderson for his outstanding contributions to Amdocs over the past 14 years as Chairman of the Board. His leadership capabilities have positively impacted the success of Amdocs. We also welcome our long-time Director Rob Minicucci as our new Chairman and look forward to working with him in the next stage of Amdocs’ growth.”

Financial Discussion of Third Fiscal Quarter Results

Free cash flow was $125 million for the third fiscal quarter, comprised of cash flow from operations of approximately $150 million less $25 million in net capital expenditures and other.

Twelve-month backlog, which includes anticipated revenue related to contracts, estimated revenue from managed services contracts, letters of intent, maintenance and estimated on-going support activities, was $2.62 billion at the end of the third quarter of fiscal 2011.

Financial Outlook

Amdocs expects that revenue for the fourth quarter of fiscal 2011 will be approximately $800-$815 million. Diluted earnings per share on a non-GAAP basis for the fourth quarter are expected to be $0.58-$0.64, excluding amortization of purchased intangible assets and other acquisition related costs and approximately $0.04-$0.05 per share of equity-based compensation expense, net of related tax effects. Amdocs estimates GAAP diluted earnings per share for the fourth fiscal quarter will be $0.46-$0.54.

Conference Call Details

Amdocs will host a conference call on July 27, 2011 at 5:00 p.m. Eastern Time to discuss the Company’s third fiscal quarter results. The call will be carried live on the Internet via the Amdocs website, www.amdocs.com.

Non-GAAP Financial Measures

This release includes non-GAAP diluted earnings per share and other non-GAAP financial measures, including free cash flow, non-GAAP cost of service, non-GAAP research and development, non-GAAP selling, general and administrative, non-GAAP operating income, non-GAAP operating margin, non-GAAP interest and other expense, net, non-GAAP income taxes and non-GAAP net income. These non-GAAP measures exclude the following items:

• amortization of purchased intangible assets and other acquisition related costs;

• equity-based compensation expense;

• loss from divestiture of a subsidiary; and

• tax effects related to the above.

These non-GAAP financial measures are not in accordance with, or an alternative for, generally accepted accounting principles and may be different from non-GAAP financial measures used by other companies. In addition, these non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles. Amdocs believes that non-GAAP financial measures have limitations in that they do not reflect all of the amounts associated with Amdocs’ results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Amdocs’ results of operations in conjunction with the corresponding GAAP measures.

Amdocs believes that the presentation of non-GAAP diluted earnings per share and other financial measures, including free cash flow, non-GAAP cost of service, non-GAAP research and development, non-GAAP selling, general and administrative, non-GAAP operating income, non-GAAP operating margin, non-GAAP interest and other expense, net, non-GAAP income taxes and non-GAAP net income, when shown in conjunction with the corresponding GAAP measures, provides useful information to investors and management regarding financial and business trends relating to its financial condition and results of operations, as

well as the net amount of cash generated by its business operations after taking into account capital spending required to maintain or expand the business.

For its internal budgeting process and in monitoring the results of the business, Amdocs’ management uses financial statements that do not include amortization of purchased intangible assets and other acquisition related costs, equity-based compensation expense and related tax effects. Amdocs’ management also uses the foregoing non-GAAP financial measures, in addition to the corresponding GAAP measures, in reviewing the financial results of Amdocs. In addition, Amdocs believes that significant groups of investors exclude these non-cash expenses in reviewing its results and those of its competitors, because the amounts of the expenses between companies can vary greatly depending on the assumptions used by an individual company in determining the amounts of the expenses.

Amdocs further believes that, where the adjustments used in calculating non-GAAP diluted earnings per share are based on specific, identified amounts that impact different line items in the Consolidated Statements of Income (including cost of service, research and development, selling, general and administrative, operating income, interest and other expense, net, income taxes and net income), it is useful to investors to understand how these specific line items in the Consolidated Statements of Income are affected by these adjustments.

Please refer to the Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP tables below.

About Amdocs

Amdocs is the market leader in customer experience systems innovation. The company combines business and operational support systems, service delivery platforms, proven services, and deep industry expertise to enable service providers and their customers to do more in the connected world. Amdocs’ offerings help service providers explore new business models, differentiate through personalized customer experiences, and streamline operations. A global company with revenue of approximately $3.0 billion in fiscal 2010, Amdocs has over 19,000 employees and serves customers in more than 60 countries worldwide. For more information, visit Amdocs at www.amdocs.com.

This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs growth and business results in future quarters. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general economic conditions, Amdocs ability to grow in the business markets that it serves, Amdocs ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company’s products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, the Company specifically disclaims any obligation to do so. These and other risks are discussed at greater length in the Company’s filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2010 filed on December 7, 2010 and in our quarterly 6-K filed on February 8, 2011 and May 11, 2011.

Contact:
Elizabeth W. Grausam
Vice President, Corporate Strategy and Investor Relations
Amdocs
314-212-8328
E-mail: dox_info@amdocs.com

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AMDOCS LIMITED

Consolidated Statements of Income

(in thousands, except per share data)

	Three months ended				Nine months ended
	June 30,				June 30,
	2011		2010		2011		2010
Revenue:
License	$	29,093	$	25,592	$	87,694	$	75,691
Service		772,316		727,657		2,277,831		2,146,338
		801,409		753,249		2,365,525		2,222,029
Operating expenses:
Cost of license		630		459		1,528		1,646
Cost of service		521,113		480,074		1,542,489		1,417,729
Research and development		54,414		52,253		162,942		153,549
Selling, general and administrative		102,315		93,446		305,736		277,054
Amortization of purchased intangible assets and other		17,265		21,748		53,018		64,506
		695,737		647,980		2,065,713		1,914,484
Operating income		105,672		105,269		299,812		307,545
Interest and other expense, net		184		3,768		3,252		27,244
Income before income taxes		105,488		101,501		296,560		280,301
Income taxes		13,703		9,236		37,274		31,133
Net income	$	91,785	$	92,265	$	259,286	$	249,168
Basic earnings per share	$	0.50	$	0.45	$	1.38	$	1.21
Diluted earnings per share	$	0.50	$	0.45	$	1.37	$	1.21
Basic weighted average number of shares outstanding		183,273		203,786		187,566		205,078
Diluted weighted average number of shares outstanding		184,682		205,471		188,973		206,606

AMDOCS LIMITED
Selected Financial Metrics
(in thousands, except per share data)

	Three months ended				Nine months ended
	June 30,				June 30,
	2011		2010		2011		2010
Revenue	$	801,409	$	753,249	$	2,365,525	$	2,222,029
Non-GAAP operating income		131,709		137,774		379,758		404,379
Non-GAAP net income		113,303		119,360		323,393		349,357
Non-GAAP diluted earnings per share	$	0.61	$	0.58	$	1.71	$	1.69
Diluted weighted average number of shares outstanding		184,682		205,471		188,973		206,606

AMDOCS LIMITED
Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP
(in thousands)

	Three months ended
	June 30, 2011
			Reconciliation items
			Amortization of
			purchased			Equity based
			intangible assets			compensation
	GAAP		and other			expense			Tax effect			Non-GAAP
Operating expenses:
Cost of license	$	630	$	—		$	—		$	—		$	630
Cost of service		521,113		—			(3,783	)		—			517,330
Research and development		54,414		—			(821	)		—			53,593
Selling, general and administrative		102,315		—			(4,168	)		—			98,147
Amortization of purchased intangible assets and other		17,265		(17,265	)		—			—			—
Total operating expenses		695,737		(17,265	)		(8,772	)		—			669,700
Operating income		105,672		17,265			8,772			—			131,709
Income taxes		13,703		—			—			4,519			18,222
Net income	$	91,785	$	17,265		$	8,772		$	(4,519	)	$	113,303

	Three months ended
	June 30, 2010
				Reconciliation items
				Amortization
				of purchased						Impairment on
				intangible			Equity based			investment
				assets and			compensation			in a
	GAAP			other			expense			subsidiary		Tax effect			Non-GAAP
Operating expenses:
Cost of license	$	459		$	—		$	—		$	—	$	—		$	459
Cost of service		480,074			—			(4,871	)		—		—			475,203
Research and development		52,253			—			(1,017	)		—		—			51,236
Selling, general and administrative		93,446			—			(4,869	)		—		—			88,577
Amortization of purchased intangible assets and other		21,748			(21,748	)		—			—		—			—
Total operating expenses		647,980			(21,748	)		(10,757	)		—		—			615,475
Operating income		105,269			21,748			10,757			—		—			137,774
Interest and other expense, net		(3,768	)		—			—			1,599		—			(2,169	)
Income taxes		9,236			—			—			—		7,009			16,245
Net income	$	92,265		$	21,748		$	10,757		$	1,599	$	(7,009	)	$	119,360

AMDOCS LIMITED
Reconciliation of Selected Financial Metrics from GAAP to Non-GAAP
(in thousands)

	Nine months ended
	June 30, 2011
			Reconciliation items
			Amortization of
			purchased			Equity based
			intangible assets			compensation
	GAAP		and other			expense			Tax effect			Non-GAAP
Operating expenses:
Cost of license	$	1,528	$	—		$	—		$	—		$	1,528
Cost of service		1,542,489		—			(9,923	)		—			1,532,566
Research and development		162,942		—			(1,987	)		—			160,955
Selling, general and administrative		305,736		—			(15,018	)		—			290,718
Amortization of purchased intangible assets and other		53,018		(53,018	)		—			—			—
Total operating expenses		2,065,713		(53,018	)		(26,928	)		—			1,985,767
Operating income		299,812		53,018			26,928			—			379,758
Income taxes		37,274		—			—			15,839			53,113
Net income	$	259,286	$	53,018		$	26,928		$	(15,839	)	$	323,393

	Nine months ended
	June 30, 2010
				Reconciliation items
				Amortization of						Impairment on
				purchased			Equity based			investment
				intangible assets			compensation			in a
	GAAP			and other			expense			subsidiary		Tax effect			Non-GAAP
Operating expenses:
Cost of license	$	1,646		$	—		$	—		$	—	$	—		$	1,646
Cost of service		1,417,729			—			(14,623	)		—		—			1,403,106
Research and development		153,549			—			(3,154	)		—		—			150,395
Selling, general and administrative		277,054			—			(14,551	)		—		—			262,503
Amortization of purchased intangible assets and other		64,506			(64,506	)		—			—		—			—
Total operating expenses		1,914,484			(64,506	)		(32,328	)		—		—			1,817,650
Operating income		307,545			64,506			32,328			—		—			404,379
Interest and other expense, net		(27,244	)		—			—			23,399		—			(3,845	)
Income taxes		31,133			—			—			—		20,044			51,177
Net income	$	249,168		$	64,506		$	32,328		$	23,399	$	(20,044	)	$	349,357

AMDOCS LIMITED
Condensed Consolidated Balance Sheets
(in thousands)

	As of
	June 30,		September 30,
	2011		2010
ASSETS
Current assets
Cash, cash equivalents and short-term interest-bearing investments	$	1,133,844	$	1,433,299
Accounts receivable, net, including unbilled of $96,687 and $62,246, respectively		589,103		580,000
Deferred income taxes and taxes receivable		121,802		126,083
Prepaid expenses and other current assets		126,156		112,417
Total current assets		1,970,905		2,251,799
Equipment and leasehold improvements, net		243,572		258,273
Goodwill and other intangible assets, net		1,804,176		1,856,178
Other noncurrent assets		486,694		454,354
Total assets	$	4,505,347	$	4,820,604
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable, accruals and other	$	562,237	$	621,549
Short-term financing arrangements		—		200,000
Deferred revenue		181,237		184,481
Deferred income taxes and taxes payable		17,310		18,117
Total current liabilities		760,784		1,024,147
Other noncurrent liabilities		604,289		567,077
Shareholders’ equity		3,140,274		3,229,380
Total liabilities and shareholders’ equity	$	4,505,347	$	4,820,604

AMDOCS LIMITED
Consolidated Statements of Cash Flows
(in thousands)

	Nine months ended June 30,
	2011			2010
Cash Flow from Operating Activities:
Net income	$	259,286		$	249,168
Reconciliation of net income to net cash provided by operating activities:
Depreciation and amortization		138,219			146,046
Impairment on investment in a subsidiary		—			23,399
Equity-based compensation expense		26,928			32,328
Deferred income taxes		11,171			(14,431	)
Excess tax benefit from equity-based compensation		(158	)		(103	)
Loss (gain) from short-term interest-bearing investments		1,423			(581	)
Net changes in operating assets and liabilities, net of amounts acquired:
Accounts receivable		(2,763	)		(60,923	)
Prepaid expenses and other current assets		(6,373	)		33,181
Other noncurrent assets		(33,747	)		(23,960	)
Accounts payable, accrued expenses and accrued personnel		(48,957	)		112,705
Deferred revenue		6,314			22,532
Income taxes payable		12,711			16,463
Other noncurrent liabilities		23,797			1,736
Net cash provided by operating activities		387,851			537,560
Cash Flow from Investing Activities:
Payments for purchase of equipment and leasehold improvements, net		(80,048	)		(59,504	)
Proceeds from sale of short-term interest-bearing investments		506,986			1,070,065
Purchase of short-term interest-bearing investments		(440,083	)		(1,239,792	)
Net cash paid for acquisitions		—			(199,496	)
Other		(22,907	)		20,336
Net cash used in investing activities		(36,052	)		(408,391	)
Cash Flow from Financing Activities:
Payments under financing arrangements		(200,000	)		—
Repurchase of shares		(431,770	)		(208,643	)
Proceeds from employee stock options exercised		49,696			22,025
Payments under capital lease, short-term financing arrangements and other		(748	)		(159	)
Net cash used in financing activities		(582,822	)		(186,777	)
Net decrease in cash and cash equivalents		(231,023	)		(57,608	)
Cash and cash equivalents at beginning of period		1,036,195			728,762
Cash and cash equivalents at end of period	$	805,172		$	671,154

AMDOCS LIMITED
Supplementary Information
(in millions)

	Three months ended
	June 30,		March 31,		December 31,		September 30,		June 30,
	2011		2011		2010		2010		2010
North America	$	584.9	$	598.4	$	564.6	$	569.7	$	572.3
Europe		105.5		97.2		98.4		91.0		80.6
Rest of World		111.0		93.3		112.2		101.5		100.3
Total Revenue	$	801.4	$	788.9	$	775.2	$	762.2	$	753.2
	Three months ended
	June 30,		March 31,		December 31,		September 30,		June 30,
	2011		2011		2010		2010		2010
Emerging Markets Revenue	$	73.2	$	52.1	$	67.8	$	69.5	$	56.2
	Three months ended
	June 30,		March 31,		December 31,		September 30,		June 30,
	2011		2011		2010		2010		2010
Managed Services Revenue	$	384.2	$	382.6	$	371.2	$	355.5	$	368.7
	Three months ended
	June 30,		March 31,		December 31,		September 30,		June 30,
	2011		2011		2010		2010		2010
Customer Experience Systems	$	751.1	$	737.2	$	725.4	$	714.9	$	693.0
Directory		50.3		51.7		49.8		47.3		60.2
Total Revenue	$	801.4	$	788.9	$	775.2	$	762.2	$	753.2
	As of
	June 30,		March 31,		December 31,		September 30,		June 30,
	2011		2011		2010		2010		2010
12-Month Backlog	$	2,620	$	2,590	$	2,560	$	2,525	$	2,470

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