* Q4 revenue up 14 percent to $214 million

* Sees Q1 rev $210-$218 mln, FY 2012 rev $930-$950 mln

* Sees Q1 ex-items EPS $0.50-$0.55, FY 2012 EPS $2.28-$2.48

* CFO: Main growth driver is data analytics

By Steven Scheer

JERUSALEM, Feb 15 (Reuters) - Growing demand for tools to delve into data to improve business, spot fraud and fend off security threats will drive growth at Israel-based software-maker Nice Systems through 2012, the company said.

Nice Systems projected another year of double digit revenue growth to $930-$950 million after a 15 percent rise in revenues and 20 percent rise in earnings last year. It said its order book was very healthy.

"Growth this year should come from our business in analytic-based applications," Chief Financial Officer Dafna Gruber told Reuters. "We have the capability to look for abnormal behaviour in mass amounts of data."

That could be for anything from making sure call centres work efficiently to surveillance for security forces trying to protect buildings and transport networks against attack.

Growth is also expected to come from the 2011 acquisitions of voice recording unit CyberTech and Fizzback, which helps businesses understand customer needs. Nice also paid $150 million this month for Merced Systems.

Nice would be looking for further purchases with its $420 million in cash, Gruber said.

Nice's business grew in Europe, the Middle East and Africa last year despite Europe's economic troubles, but 8 percent growth compared to 30 percent in the Asia-Pacific region and 16 percent in the Americas, where it makes 60 percent of sales.

Nice projected diluted earnings per share excluding one-off items of $2.28-$2.48 for 2012. That's above the $892.4 million in sales and EPS of $2.33 forecast by analysts, according to Thomson Reuters I/B/E/S.

In 2011, Nice revenue rose to $798 million. Earnings excluding items increased to $2.10.

Nice, which also has a security and video surveillance business, earned 60 cents on a diluted basis ex-items in the fourth quarter, up from 51 cents in the fourth quarter of 2010. Revenue grew 14 percent to $214 million.

For the first quarter, Nice predicted revenue of $210-$218 million and adjusted earnings of 50 to 55 cents.

Its Nasdaq shares were flat at $36.71, near a year high of $38.49 reached last April, at midday.

Gruber said that instead of distributing dividends, Nice plans to buy back $100 million of its own shares this year, a similar amount to 2011.

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