Clicksoftware (CKSW) Sees Record Q4, FY13 Revs
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Clicksoftware Technologies Ltd (Nasdaq: CKSW) expects record revenues of approximately $30.5 million in the fourth quarter of 2013, exceeding its guidance of $26 to $28 million. For the full year 2013 revenues are expected to reach approximately $103 million.
*** The Street is at Q4 revs of $26 million and FY13 revs of $98.5 million.
Based on preliminary estimates of operating costs it is also expected that profitability will be achieved in fourth quarter of 2013. Cash, cash-equivalents, short and long-term investments continued to grow, increasing by about $2.3 million during the fourth quarter, reaching about $58 million as of December 31, 2013.
"We saw a remarkable improvement in our business during the fourth quarter leading to strong results that exceeded expectations," commented Dr. Moshe BenBassat, ClickSoftware's Founder and CEO. "We added a record nineteen new customers in the fourth quarter, more than 50% of which are cloud customers. Our ability to offer solutions both in the cloud and on premise is a key competitive advantage which has strengthened our position as the market leader of workforce management and service optimization."
Dr. Moshe BenBassat added, "We are entering the new year with a lot of momentum and feel very strongly that our successful transition to the cloud will be supported by a material increase in recurring revenues in the second half of 2014."
The above assessment for the fourth quarter of 2013 is based on the Company's initial analysis and is subject to change as additional financial information becomes available. ClickSoftware will provide an update and release additional fourth quarter and annual financial results and will provide an update regarding its annual guidance on Wednesday, February 5, 2014, during pre-market hours. A press release announcing dial-in and webcasting details for the related conference call will be issued in advance.
*** The Street is at Q4 revs of $26 million and FY13 revs of $98.5 million.
Based on preliminary estimates of operating costs it is also expected that profitability will be achieved in fourth quarter of 2013. Cash, cash-equivalents, short and long-term investments continued to grow, increasing by about $2.3 million during the fourth quarter, reaching about $58 million as of December 31, 2013.
"We saw a remarkable improvement in our business during the fourth quarter leading to strong results that exceeded expectations," commented Dr. Moshe BenBassat, ClickSoftware's Founder and CEO. "We added a record nineteen new customers in the fourth quarter, more than 50% of which are cloud customers. Our ability to offer solutions both in the cloud and on premise is a key competitive advantage which has strengthened our position as the market leader of workforce management and service optimization."
Dr. Moshe BenBassat added, "We are entering the new year with a lot of momentum and feel very strongly that our successful transition to the cloud will be supported by a material increase in recurring revenues in the second half of 2014."
The above assessment for the fourth quarter of 2013 is based on the Company's initial analysis and is subject to change as additional financial information becomes available. ClickSoftware will provide an update and release additional fourth quarter and annual financial results and will provide an update regarding its annual guidance on Wednesday, February 5, 2014, during pre-market hours. A press release announcing dial-in and webcasting details for the related conference call will be issued in advance.
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