CDC Software Revises Full Year Profit Guidance Upward
November 23 2009 - 8:30AM
Business Wire
CDC Software Corporation (NASDAQ: CDCS), a global provider of
enterprise software applications and services, today announced
that, based on preliminary financial results and estimates, its
profit guidance for 2009 is revised upward and it expects net
income attributable to controlling interest to be in the range of
$17.2 - $19.3 million and Adjusted EBITDA (a) to be in the range of
$50.2 - $51.5 million. This represents an increase of 11 percent
and 4 percent respectively from guidance previously given in the
second quarter of 2009.
Previous guidance for 2009, which was provided after CDC
Software announced second quarter earnings, projected net income
attributable to controlling interest in the range of $15-$18
million and Adjusted EBITDA in the range of $48 - $50 million.
Revenue guidance has not changed and is expected to be in the range
of $197 million - $200 million for the full year of 2009.
“We are pleased to revise our profit guidance upward for 2009
since we have seen stronger gross margins, continuing improvement
in cost management, and a growing sales pipeline,” said Peter Yip,
CEO of CDC Software. “Our fourth quarter sales pipeline has
continued to increase and has shown steady growth over the last
four quarters. In addition, our cross-sell opportunities during the
fourth quarter continued to increase and we already have closed
several new sales deals. As we have previously stated, we are well
positioned to continue our growth through organic and cross-sell
sales opportunities, as well as synergistic acquisitions in both
the on-premise as well as Software as a Service (SaaS) models.”
About CDC
Software
CDC Software (NASDAQ: CDCS), The Customer-Driven Company™, is a
provider of enterprise software applications and services designed
to help organizations deliver a superior customer experience, while
increasing efficiencies and profitability. CDC Software provides
customers with maximum flexibility in their solutions through
multiple deployment options which best fit their business needs.
Leveraging a service-oriented architecture (SOA), CDC Software
offers multiple delivery options for their solutions such as
on-premise, cloud-based or hybrid (blending of the two options)
deployment offerings. CDC Software's product suite includes: CDC
Factory (manufacturing operations management), Activplant
(enterprise manufacturing intelligence), CDC Ross ERP (enterprise
resource planning), CDC Supply Chain (supply chain management,
warehouse management and order management),CDC X-alert (real-time
supply chain event management), CDC Power (discrete ERP), CDC
Pivotal CRM and Saratoga CRM (customer relationship management),
CDC Respond (customer complaint and feedback management), c360 CRM
add-on products, industry solutions and development tools for the
Microsoft Dynamics CRM platform, CDC HRM (human resources) and
business analytics solutions.
These industry-specific solutions are used by more than 6,000
customers worldwide within the manufacturing, financial services,
health care, home building, real estate, wholesale and retail
distribution industries. The company completes its offerings with a
full continuum of services that span the life cycle of technology
and software applications, including implementation, project
consulting, technical support and IT consulting. For more
information, please visit www.cdcsoftware.com.
About CDC Corporation
The CDC family of companies includes CDC Software (NASDAQ: CDCS)
focused on enterprise software applications and services, CDC
Global Services focused on IT consulting services, and outsourced
R&D and application development, CDC Games focused on online
games, and China.com China.com, Inc. (HKGEM:8006) focused on
portals for the greater China markets. For more information about
CDC Corporation (NASDAQ: CHINA), please visit
www.cdccorporation.net.
Cautionary Note Regarding Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the United States Private Securities Litigation
Reform Act of 1995. These forward-looking statements include
statements regarding our expectations relating to GAAP net income,
Adjusted EBITDA and revenue, our beliefs regarding our internal
quarterly expectations, our beliefs regarding our sales pipeline
and cross-selling opportunities, our expectations regarding new
logo license sales in the third quarter of 2009 and our sales
pipeline, our beliefs regarding our future performance, our beliefs
regarding our ability to continue improving our business
fundamentals and key operational metrics, our beliefs regarding our
ability to continue our growth through organic and cross-sell
sales, and other statements that are not historical fact, the
achievement of which involve risks, uncertainties and assumptions.
If any such risks or uncertainties materialize or if any of the
assumptions proves incorrect, our results could differ materially
from the results expressed or implied by the forward-looking
statements we make. These statements are based on management's
current expectations and are subject to risks and uncertainties and
changes in circumstances. There are important factors that could
cause actual results to differ materially from those anticipated in
the forward looking statements, including the following: (a) the
ability to realize strategic objectives by taking advantage of
market opportunities in targeted geographic markets; (b) the
ability to make changes in business strategy, development plans and
product offerings to respond to the needs of current, new and
potential customers, suppliers and strategic partners; (c) the
effects of restructurings and rationalization of operations; (d)
the ability to address technological changes and developments
including the development and enhancement of products; (e) the
entry of new competitors and their technological advances; (f) the
need to develop, integrate and deploy enterprise software
applications to meet customer's requirements; (g) the possibility
of development or deployment difficulties or delays; (h) the
dependence on customer satisfaction with the company's software
products and services; (i) continued commitment to the deployment
of the enterprise software solutions; (j) risks involved in
developing software solutions and integrating them with third-party
software and services; (k) the continued ability of the company's
enterprise software solutions to address client-specific
requirements; (l) demand for and market acceptance of new and
existing enterprise software and services and the positioning of
the company's solutions; (m) the ability of staff to operate the
enterprise software and extract and utilize information from the
company's enterprise software solutions; (n) the continued
cooperation of our strategic and business partners; (o) risks
relating to economic conditions and other matters beyond our
control; and (p) the risk that the preliminary financial results
provided herein could differ from our actual results. Further
information on risks or other factors that could cause results to
differ is detailed in our filings or submissions with the United
States Securities and Exchange Commission, and those of our
ultimate parent company, CDC Corporation, located at www.sec.gov.
All forward-looking statements included in this press release are
based upon information available to management as of the date of
the press release, and you are cautioned not to place undue
reliance on any forward looking statements which speak only as of
the date of this press release. The company assumes no obligation
to update or alter the forward looking statements whether as a
result of new information, future events or otherwise. Historical
results are not indicative of future performance.
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