BURLINGTON, Mass., Oct. 9, 2013 /PRNewswire/ -- ClickSoftware
Technologies Ltd. (NasdaqGS: CKSW), the leading provider of
automated workforce management and optimization solutions for the
service industry, today announced that it anticipates revenues for
the third quarter ended September 30,
2013 will be approximately $23.2
million.
Based on preliminary estimates of operating costs, a net loss is
anticipated for the quarter ended September
30, 2013 of approximately $3.7
million, or a loss of $0.11
per share. Non-GAAP net loss is expected to be about $3.5 million, or a loss of $0.10 per share (Non-GAAP net income excludes
amortization of intangible assets expenses of about $50,000, share-based compensation expenses of
about $740,000, and tax benefit of
about $570,000 in the third quarter
of 2013).
The Company estimates that its cash, cash-equivalents, short and
long-term investments were approximately $55.5 million as of September 30, 2013.
"We continue to see a growing trend of large enterprise and
mid-market customers selecting our cloud optimization solutions,
and we welcome this transition," said Dr. Moshe BenBassat, ClickSoftware's Founder and
CEO. "In the short-term, our quarterly results have been impacted
due to lower up-front license fees and a smaller initial deployment
size, a natural occurrence when shifting to the cloud. Overall the
number of new cloud-based customers we signed in the first nine
months of 2013 increased by 100% year over year. Among our new
cloud customers in the third quarter were a division of one of the
world's largest suppliers of high value and complex equipment, and
two large utility companies. Over the long-term, the fact that we
continue to sign a greater number of deals on an absolute basis
will be reflected with a significantly increased recurring revenue
stream."
"While demand from large customers for cloud-based solutions is
increasing, there is still considerable demand for our classic
on-premise solutions. Overall the number of new on-premise
customers we signed in the first nine months of 2013 also increased
considerably by 62% compared to last year. Our ability to compete
in both the cloud and on-premise markets, having the industry's
most dynamic and scalable offering, provides our customers with a
solution that is highly differentiated from that of any of our
competitors," concluded Dr. BenBassat.
The above assessment for the third quarter of 2013 is based on
the Company's initial analysis and is subject to change as
additional financial information becomes available.
ClickSoftware will release its third quarter financial results and
will provide an update regarding its annual guidance on
Wednesday, October 23, 2013, during
pre-market hours. A press release announcing dial-in and webcasting
details for the related conference call will be issued in
advance.
About ClickSoftware
ClickSoftware (NasdaqGS: CKSW) is
the leading provider of automated mobile workforce management and
service optimization solutions for the enterprise, both for mobile
and in-house resources. As pioneers of the "Service chain
optimization" and "The real-time service enterprise" concepts, our
solutions provide organizations with end-to-end visibility and
control of the entire service management chain by optimizing
forecasting, planning, shift and task scheduling, mobility and
real-time management of resource and customer communication.
Available via the cloud or on-premise, our products incorporate
best business practices and advanced decision-making algorithms to
manage service operations more efficiently, in a scalable,
integrated manner. Our solutions have become the backbone for many
leading organizations worldwide by addressing the fundamental
question of job fulfillment: Who does What, for Whom, With what,
Where and When.
ClickSoftware is the premier choice for delivering superb
business performance to service sector organizations of all sizes.
The Company is headquartered in the
United States and Israel,
with offices across Europe, and
Asia Pacific. For more
information, please visit http://www.clicksoftware.com. Follow us
on Twitter, the content of which is not incorporated herein by
reference.
To download ClickSoftware's investor relations app, which offers
access to SEC documents, press releases, videos, audiocasts and
more, the content of which is not incorporated herein by reference,
please visit Apple's App Store to download on your iPhone and iPad,
or Google Play for your Android mobile device.
Use of Non-GAAP Financial Results
In addition to
disclosing preliminary estimates of our financial results
calculated in accordance with U.S. generally accepted accounting
principles (GAAP), this press release contains Non-GAAP financial
measures of net income and net income per share that exclude the
effects of share-based compensation, tax benefit related to the
update of deferred tax asset and the amortization of acquired
intangible assets. The Company's management believes the Non-GAAP
financial information provided in this release is useful to
investors' understanding and assessment of the Company's on-going
core operations and prospects for the future. Management also uses
both GAAP and Non-GAAP information in evaluating and operating
business internally and as such deemed it important to provide all
this information to investors. The Non-GAAP financial measures
disclosed by the Company should not be considered in isolation or
as a substitute for, or superior to, financial measures calculated
in accordance with GAAP, and the financial results calculated in
accordance with GAAP and reconciliations to those financial
statements should be carefully evaluated.
Safe Harbor for Forward Looking Statements
This
press release contains express or implied forward-looking
statements within the Private Securities Litigation Reform Act of
1995 and other U.S. Federal securities laws. These forward-looking
statements include, but are not limited to, those statements
regarding our expected revenues, net loss, net loss per share and
cash, cash equivalents, short and long-term investments for and as
of the end of the third quarter of 2013, and future trends in SaaS
cloud-based revenues and roll-outs. Such "forward-looking
statements" involve known and unknown risks, uncertainties and
other factors that may cause actual results or performance to
differ materially from those projected. Achievement of these
results by ClickSoftware may be affected by many factors,
including, but not limited to, risks and uncertainties regarding
the general economic outlook, customer needs and anticipated
orders, the length of or changes in ClickSoftware's sales cycle,
ClickSoftware's ability to close sales to potential customers in a
timely manner and maintain or strengthen relationships with
strategic partners, the timing of revenue recognition, foreign
currency exchange rate fluctuations, and ClickSoftware's ability to
maintain or increase its sales pipeline. The forward-looking
statements contained in this press release are subject to other
risks and uncertainties, including those discussed in the "Risk
Factors" section and elsewhere in ClickSoftware's annual report on
Form 20-F for the year ended December 31,
2012 and in subsequent filings with the Securities and
Exchange Commission. Except as otherwise required by law,
ClickSoftware is under no obligation to (and expressly disclaims
any such obligation to) update or alter its forward-looking
statements whether as a result of new information, future events or
otherwise.
ClickSoftware
Contact:
|
Investor Relations
Contact:
|
Noa
Schuman
|
Rob Fink
|
Investor
Relations
|
KCSA Strategic
Communications
|
+972-3-7659-467
|
212-896-1206
|
Noa.Schuman@clicksoftware.com
|
rfink@kcsa.com
|
SOURCE ClickSoftware