BURLINGTON, Mass., Feb. 5,
2014 /PRNewswire/ -- ClickSoftware Technologies Ltd.
(NasdaqGS: CKSW), the leading provider of automated mobile
workforce management and optimization solutions for the service
industry, today announced results for the fourth quarter and year
ended December 31, 2013.
Highlights
- Strong win rate, added 19 new customers during the fourth
quarter, 10 of which are cloud;
- Fourth quarter 2013 revenues reached $30.7 million (8% growth year-over-year);
- 2013 annual revenues reached $103.2
million (3% growth year-over-year);
- Total cash and investments increased to $58.0 million;
- Annual cash from operations was $6.4
million;
- Short-term backlog and deferred revenues increased
substantially to $42.7 million (28%
growth year-over-year);
- Promotion of Mr. Zvi Piritz to
President of EMEA & APAC, and Mr. Stephen Timms to President of Americas.
Fourth Quarter Results
For the fourth quarter ended December 31,
2013, total revenues were $30.7
million, up 8% from $28.4
million in the fourth quarter of 2012. Net income for the
fourth quarter of 2013 was $2.3
million, or $0.07 per fully
diluted share, compared to net income of $3.9 million, or $0.12 per fully diluted share, for the same
period last year. Non-GAAP net income for the quarter was
$2.3 million, or $0.07 per fully diluted share, compared to
Non-GAAP net income of $4.2 million,
or $0.13 per fully diluted share, for
the same period last year.
Software license revenues for the fourth quarter of 2013 were
$10.9 million, up 1% compared with
software license revenues of $10.8
million for the same period last year. Services revenues
were $19.8 million, up 13% compared
with services revenues of $17.6
million in the same period last year.
Gross profit in the fourth quarter of 2013 was $19.0 million, or 62% of revenues, compared to
$18.5 million, or 65% of revenues, in
the same period last year.
Cash, cash equivalents and short and long-term investments at
the end of the fourth quarter of 2013 were $58.0 million, an increase of $2.3 million compared to the end of the third
quarter of 2013. Net cash provided by operating activities was
$1.9 million during the fourth
quarter of 2013.
Full Year 2013 Results
Total revenues for 2013 grew 3% over 2012 to $103.2 million, yielding net loss of $4.2 million, or $(0.13) per fully diluted share. This
compares with revenues of $100.0
million and net income of $7.5
million, or $0.23 per fully
diluted share, for 2012. Non-GAAP net loss for 2013 was
$2.5 million, or $(0.08) per fully diluted share. This compares
with Non-GAAP net income of $10.2
million, or $0.31 per fully
diluted share, for 2012.
Executive Changes
The Company also announced today the appointment of Mr.
Zvi Piritz as President of EMEA
& APAC and Mr. Stephen Timms as
President of Americas, reporting to the CEO - Dr. Moshe BenBassat.
Mr. Piritz has been with ClickSoftware for 15 years,
managing our worldwide sales organization since 2005 as Senior VP
World Wide Sales, and serving in various executive management roles
since 1999. Mr. Piritz holds a B.A. degree in Economics from
Tel Aviv University, Israel and an M.B.A. degree in Marketing &
International Accounting from Fordham
University, New York,
USA.
Mr. Timms has been with ClickSoftware for 9 years,
serving as Senior VP of Sales in Americas since 2010. Prior to
moving to the United States, Mr.
Timms held various positions in our sales organization, serving as
our VP of Sales in EMEA and as the Director of Sales in West
Region, EMEA. Mr. Timms graduated Harvard
Business School Executive Education – General Manager
Program, in 2013.
Management Commentary
"The results of the fourth quarter show that ClickSoftware has
turned the corner. Strong execution was driven by a record number
of new customers, growing traction for our cloud-based SaaS
offering and increased market demand for mobility products," said
Dr. Moshe BenBassat, ClickSoftware's
Founder and CEO. "The win-rate against the competition was quite
convincing, specifically for large clients. We added 19 new
customers during the fourth quarter, 10 of which selected our
cloud-based solution. For the full year of 2013, we had 54 new
customer wins, which is 50% above the 34 new customers we had in
2012. The trend of large enterprise organizations considering a
SaaS offering is on the rise and our ability to offer a
best-of-breed solution, both on premise and in the cloud, is a key
competitive advantage for ClickSoftware."
"While the shift to the cloud impacted up-front license revenues
in 2013, we saw a significant increase in our base of recurring
cloud revenues and expect greater visibility in 2014 as the stream
continues to grow. We have a strong pipeline of new business
opportunities for the year ahead and a healthy mix of perpetual and
SaaS-based opportunities going forward. We continue to introduce
new innovations in the cloud, mobile and the artificial
intelligence (ClickButler) technologies that serve to ensure our
competitive," added Dr. Moshe
BenBassat.
Dr. BenBassat concluded, "Aiming at continuous agility,
alignment and efficiency, we have made an organizational change
that will empower our territories operations to be more autonomous
in their processes and decision making, achieving our Company goals
effectively, efficiently and with high velocity. I am pleased to
announce the promotion of two ClickSoftware's veterans: Mr.
Zvi Piritz to President of EMEA
& APAC, and Mr. Stephen Timms to
President of Americas."
Financial Outlook
For 2014, the Company currently expects top line growth of 8% to
11%, and to achieve revenues in the $111 to
$115 million range. This outlook is based on approximately
$42.7 million in backlog and deferred
revenues, current visibility into a growing sales pipeline and
expected expansion into new territories and industry verticals.
Non-GAAP fully diluted earnings per share for 2014 is expected to
be in the range of $0.06 to $0.12,
which excludes share-based compensation costs of approximately
$0.09, and deferred taxes expense of
approximately $0.01 per fully diluted
share. GAAP fully diluted earnings per share is expected to be in
the range of ($0.04) to $0.02.
Investors Conference Call
ClickSoftware will host a conference call today at 9:00 a.m. EST to discuss its financial results
and other matters discussed in this press release, as well as
answer questions from the investment community. To
participate, please call (888) 407-2553 and ask for the
ClickSoftware conference call. International participants, please
call +972-3-918-0610. The call will be broadcasted by live webcast
on the internet (in listen mode only) at
http://ir.clicksoftware.com. A replay of this webcast will be
available on the ClickSoftware website and on the Investor
Relations App. Alternatively, a telephone replay of the call will
be available for a week by calling (888) 326-9310 (international
callers can dial +972-3-925-5904).
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" concept,
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 financial results calculated in
accordance with U.S. generally accepted accounting principles
(GAAP), the Company's earnings 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, impairment of intangible assets 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. Reconciliations between GAAP measures
and Non-GAAP measures are provided later in this press
release.
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 future results of operations, including
expected growth, expansion into new territories and industry
verticals, prospects, trends and opportunities in SaaS offerings
and cloud-based sales, pipeline, demand for our solutions and our
outlook for 2014 revenues and GAAP and Non-GAAP earnings per share.
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, 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, the impact of the Cloud model on initial
transaction size and gross margins 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.
Note: Financial Schedules Attached
ClickSoftware
Technologies Ltd.
|
CONSOLIDATED
STATEMENTS OF OPERATIONS
|
(Unaudited. In
thousands, except share and per share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
|
December 31,
2013
|
|
December 31,
2012
|
|
|
|
$
|
% of
Revenues
|
|
$
|
% of
Revenues
|
Revenues:
|
|
|
|
|
|
|
Software
license
|
$
10,914
|
36%
|
|
$
10,847
|
38%
|
|
Services
|
19,779
|
64%
|
|
17,552
|
62%
|
|
|
Total
revenues
|
30,693
|
100%
|
|
28,399
|
100%
|
|
|
|
|
|
|
|
|
Cost of
revenues:
|
|
|
|
|
|
|
Software
license
|
1,381
|
4%
|
|
1,154
|
4%
|
|
Services
|
10,342
|
34%
|
|
8,728
|
31%
|
|
|
Total cost of
revenues
|
11,723
|
38%
|
|
9,882
|
35%
|
|
|
|
|
|
|
|
|
Gross
Profit
|
18,970
|
62%
|
|
18,517
|
65%
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
Research and
development costs, net
|
4,398
|
14%
|
|
3,871
|
14%
|
|
Selling and
marketing expenses
|
10,893
|
35%
|
|
8,725
|
31%
|
|
General and
administrative expenses
|
2,478
|
8%
|
|
2,335
|
8%
|
|
|
Total operating
expenses
|
17,769
|
58%
|
|
14,931
|
53%
|
|
|
|
|
|
|
|
|
Operating
income
|
1,201
|
4%
|
|
3,586
|
13%
|
Other
income
|
-
|
-
|
|
110
|
0%
|
Interest income,
net
|
221
|
1%
|
|
64
|
0%
|
Net income before
taxes
|
$
1,422
|
5%
|
|
$
3,760
|
13%
|
Tax income,
net
|
834
|
2%
|
|
146
|
1%
|
Net
income
|
$
2,256
|
7%
|
|
$
3,906
|
14%
|
|
|
|
|
|
|
|
|
Net earnings per
ordinary share:
|
|
|
|
|
|
|
Basic
|
$
0.07
|
|
|
$
0.12
|
|
|
Diluted
|
$
0.07
|
|
|
$
0.12
|
|
|
|
|
|
|
|
|
|
Shares used in
computing basic
net income per
share
|
32,334,458
|
|
|
31,622,991
|
|
Shares used in
computing diluted
net income per
share
|
33,062,701
|
|
|
32,747,616
|
|
|
|
|
|
|
|
|
|
ClickSoftware
Technologies Ltd.
|
CONSOLIDATED
STATEMENTS OF OPERATIONS
|
(In thousands,
except share and per share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
Year
Ended
|
|
|
|
December 31,
2013
(Unaudited)
|
|
December 31,
2012
(Audited)
|
|
|
|
$
|
% of
Revenues
|
|
$
|
% of
Revenues
|
Revenues:
|
|
|
|
|
|
|
Software
license
|
$
28,679
|
28%
|
|
$
34,541
|
35%
|
|
Services
|
74,502
|
72%
|
|
65,505
|
65%
|
|
|
Total
revenues
|
103,181
|
100%
|
|
100,046
|
100%
|
|
|
|
|
|
|
|
|
Cost of
revenues:
|
|
|
|
|
|
|
Software
license
|
4,413
|
4%
|
|
3,686
|
4%
|
|
Services
|
39,894
|
39%
|
|
35,185
|
35%
|
|
|
Total cost of
revenues
|
44,307
|
43%
|
|
38,871
|
39%
|
|
|
|
|
|
|
|
|
Gross
Profit
|
58,874
|
57%
|
|
61,175
|
61%
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
Research and
development costs, net
|
15,970
|
15%
|
|
13,146
|
13%
|
|
Selling and
marketing expenses
|
39,706
|
38%
|
|
31,977
|
32%
|
|
General and
administrative expenses
|
9,121
|
9%
|
|
8,779
|
9%
|
|
|
Total operating
expenses
|
64,797
|
63%
|
|
53,902
|
54%
|
|
|
|
|
|
|
|
|
Operating (loss)
income
|
(5,923)
|
(6%)
|
|
7,273
|
7%
|
Other
income
|
-
|
-
|
|
110
|
0%
|
Interest income,
net
|
839
|
1%
|
|
274
|
0%
|
Net (loss) income
before taxes
|
$
(5,084)
|
(5%)
|
|
$
7,657
|
8%
|
Tax income
(expense), net
|
924
|
1%
|
|
(169)
|
(0%)
|
Net (loss)
income
|
$
(4,160)
|
(4%)
|
|
$
7,488
|
7%
|
|
|
|
|
|
|
|
|
Net (loss)
earnings per ordinary share:
|
|
|
|
|
|
|
Basic
|
$
(0.13)
|
|
|
$
0.24
|
|
|
Diluted
|
$
(0.13)
|
|
|
$
0.23
|
|
|
|
|
|
|
|
|
|
Shares used in
computing basic
net (loss) income
per share
|
32,048,030
|
|
|
31,545,435
|
|
Shares used in
computing diluted
net (loss) income
per share
|
32,048,030
|
|
|
32,837,789
|
|
|
|
|
|
|
|
|
|
ClickSoftware
Technologies Ltd.
|
CONSOLIDATED
BALANCE SHEETS
|
(In thousands,
except share data)
|
|
|
|
|
|
|
|
|
|
December 31,
2013
|
|
December 31,
2012
|
|
|
|
(Unaudited)
|
|
(Audited)
|
|
|
|
ASSETS
|
|
|
|
CURRENT
ASSETS
|
|
|
|
|
Cash and cash
equivalents
|
$
25,346
|
|
$
12,793
|
|
Deposits
|
9,001
|
|
30,310
|
|
Marketable
securities
|
22,586
|
|
15,635
|
|
Trade receivables,
net
|
22,490
|
|
21,792
|
|
Deferred
taxes
|
1,740
|
|
220
|
|
Other receivables
and prepaid expenses
|
4,408
|
|
3,398
|
|
|
Total current
assets
|
85,571
|
|
84,148
|
|
|
|
|
|
|
|
LONG TERM
ASSETS
|
|
|
|
|
Property and
equipment, net
|
5,023
|
|
4,206
|
|
Deposits
|
1,072
|
|
621
|
|
Other receivables
and prepaid expenses
|
218
|
|
275
|
|
Deferred
taxes
|
2,060
|
|
1,230
|
|
Intangible assets,
net
|
-
|
|
452
|
|
Goodwill
|
1,572
|
|
1,572
|
|
Severance pay
funds
|
2,052
|
|
1,965
|
|
|
Total long term
assets
|
11,997
|
|
10,321
|
|
|
|
Total
Assets
|
$
97,568
|
|
$
94,469
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
CURRENT
LIABILITIES
|
|
|
|
|
Accounts payable
and accrued expenses
|
$
17,707
|
|
$
16,536
|
|
Deferred
revenues
|
13,420
|
|
9,047
|
|
|
Total current
liabilities
|
31,127
|
|
25,583
|
|
|
|
|
|
|
|
LONG TERM
LIABILITIES
|
|
|
|
|
Accrued severance
pay
|
4,840
|
|
4,465
|
|
Deferred
taxes
|
40
|
|
-
|
|
Deferred
revenues
|
4,642
|
|
1,503
|
|
|
Total long term
liabilities
|
9,522
|
|
5,968
|
|
|
Total
liabilities
|
40,649
|
|
31,551
|
|
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY
|
|
|
|
|
Ordinary shares of
NIS 0.02 par value
|
137
|
|
132
|
|
Additional paid-in
capital
|
92,301
|
|
87,566
|
|
Accumulated
deficit
|
(36,179)
|
|
(25,296)
|
|
Accumulated other
comprehensive income
|
703
|
|
559
|
|
Treasury stock, at
cost: 39,000 shares
|
(43)
|
|
(43)
|
|
|
Total
shareholders' equity
|
56,919
|
|
62,918
|
|
|
|
Total Liabilities
and shareholders' equity
|
$
97,568
|
|
$
94,469
|
ClickSoftware
Technologies Ltd.
|
CONSOLIDATED
STATEMENTS OF CASH FLOWS
|
(In
thousands)
|
|
|
|
|
|
|
|
|
|
Year
Ended
|
|
|
|
December 31,
2013
(Unaudited)
|
|
December 31,
2012
(Audited)
|
CASH FLOWS FROM
OPERATING ACTIVITIES
|
|
|
|
|
Net (loss)
income
|
$
(4,160)
|
|
$
7,488
|
|
Adjustments to
reconcile net (loss) income to net cash provided by operating
activities:
|
|
|
|
|
|
Income and expense
items not involving cash flows:
|
|
|
|
|
|
|
Depreciation
|
2,593
|
|
2,144
|
|
|
|
Amortization of
deferred compensation
|
2,744
|
|
2,534
|
|
|
|
Amortization of
acquired intangible assets
|
278
|
|
714
|
|
|
|
Impairment of
acquired intangible assets
|
174
|
|
-
|
|
|
|
Severance pay,
net
|
288
|
|
399
|
|
|
|
Gain on marketable
securities
|
(429)
|
|
(146)
|
|
|
|
Other
|
92
|
|
13
|
|
|
Changes in
operating assets and liabilities:
|
|
|
|
|
|
|
Trade
receivables
|
(698)
|
|
1,586
|
|
|
|
Deferred
taxes
|
(2,310)
|
|
(540)
|
|
|
|
Other
receivables
|
(809)
|
|
(104)
|
|
|
|
Accounts payable
and accrued expenses
|
1,171
|
|
2,928
|
|
|
|
Deferred
revenues
|
7,512
|
|
(807)
|
|
Net cash provided
by operating activities
|
$
6,446
|
|
$
16,209
|
|
|
|
|
|
CASH FLOWS FROM
INVESTING ACTIVITIES
|
|
|
|
|
|
Purchase of
equipment
|
(3,502)
|
|
(2,490)
|
|
|
Increase in
deposits
|
20,858
|
|
(1,595)
|
|
|
Investments in
marketable securities
|
(15,686)
|
|
(7,459)
|
|
|
Proceeds from sale
of marketable securities
|
9,164
|
|
2,915
|
|
Net cash provided
by (used in) investment activities
|
$
10,834
|
|
$
(8,629)
|
|
|
|
|
|
CASH FLOWS FROM
FINANCING ACTIVITIES
|
|
|
|
|
|
Dividend
paid
|
(6,723)
|
|
(10,120)
|
|
|
Employee options
exercised
|
1,996
|
|
650
|
|
Net cash used in
financing activities
|
$
(4,727)
|
|
$
(9,470)
|
|
|
|
|
|
INCREASE
(DECREASE) IN CASH AND CASH EQUIVALENTS
|
12,553
|
|
(1,890)
|
CASH AND CASH
EQUIVALENTS AT BEGINNING OF PERIOD
|
12,793
|
|
14,683
|
CASH AND CASH
EQUIVALENTS AT END OF PERIOD
|
$
25,346
|
|
$
12,793
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ClickSoftware
Technologies Ltd.
|
SUPPLEMENTAL
RECONCILIATIONS OF GAAP TO NON-GAAP RESULTS
|
(Unaudited. In
thousands, except per share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
|
December 31,
2013
|
|
December 31,
2012
|
|
|
|
$
|
% of
Revenues
|
|
$
|
% of
Revenues
|
|
|
|
|
|
|
|
|
GAAP Net
income
|
|
$
2,256
|
7%
|
|
$
3,906
|
14%
|
Share-based
compensation (1)
|
|
819
|
|
|
652
|
|
Amortization of
intangible assets (2)
|
|
49
|
|
|
150
|
|
Impairment of
other intangible assets
|
|
174
|
|
|
-
|
|
Deferred
taxes
|
|
(1,010)
|
|
|
(470)
|
|
Non-GAAP Net
income
|
|
$
2,288
|
7%
|
|
$
4,238
|
15%
|
|
|
|
|
|
|
|
GAAP Earnings per
share (diluted)
|
|
$
0.07
|
|
|
$
0.12
|
|
Share-based
compensation
|
|
0.02
|
|
|
0.02
|
|
Amortization of
intangible assets
|
|
0.00
|
|
|
0.00
|
|
Impairment of
other intangible assets
|
|
0.01
|
|
|
0.00
|
|
Deferred
taxes
|
|
(0.03)
|
|
|
(0.01)
|
|
Non-GAAP Earnings
per share (diluted)
|
|
$
0.07
|
|
|
$
0.13
|
|
|
|
|
|
|
|
|
|
(1)
Share-based compensation:
|
|
|
|
|
|
|
|
Cost of
services
|
|
$
95
|
|
|
$
85
|
|
|
Research and
development costs, net
|
|
80
|
|
|
69
|
|
|
Selling and
marketing expenses
|
|
245
|
|
|
173
|
|
|
General and
administrative expenses
|
|
399
|
|
|
325
|
|
|
|
$
819
|
|
|
$
652
|
|
|
|
|
|
|
|
|
(2)
Amortization of intangible assets:
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
$
49
|
|
|
$
121
|
|
|
Research and
development costs, net
|
|
-
|
|
|
29
|
|
|
|
|
$
49
|
|
|
$
150
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ClickSoftware
Technologies Ltd.
|
SUPPLEMENTAL
RECONCILIATIONS OF GAAP TO NON-GAAP RESULTS
|
(Unaudited. In
thousands, except per share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
Year
Ended
|
|
|
|
December 31,
2013
|
|
December 31,
2012
|
|
|
|
$
|
% of
Revenues
|
|
$
|
% of
Revenues
|
|
|
|
|
|
|
|
|
GAAP Net (loss)
income
|
|
$
(4,160)
|
(4%)
|
|
$
7,488
|
7%
|
Share-based
compensation (1)
|
|
2,744
|
|
|
2,534
|
|
Amortization of
intangible assets (2)
|
|
278
|
|
|
715
|
|
Impairment of
other intangible assets
|
|
174
|
|
|
-
|
|
Tax payment for
previous years retained earnings*
|
|
744
|
|
|
-
|
|
Deferred
taxes
|
|
(2,310)
|
|
|
(540)
|
|
Non-GAAP Net
(loss) income
|
|
$
(2,530)
|
(2%)
|
|
$
10,197
|
10%
|
|
|
|
|
|
|
|
|
GAAP (Loss)
earnings per share (diluted)
|
|
$
(0.13)
|
|
|
$
0.23
|
|
Share-based
compensation
|
|
0.09
|
|
|
0.08
|
|
Amortization of
intangible assets
|
|
0.00
|
|
|
0.02
|
|
Impairment of
other intangible assets
|
|
0.01
|
|
|
|
|
Tax payment for
previous years retained earnings*
|
|
0.02
|
|
|
0.00
|
|
Deferred
taxes
|
|
(0.07)
|
|
|
(0.02)
|
|
Non-GAAP (Loss)
earnings per share (diluted)
|
|
$
(0.08)
|
|
|
$
0.31
|
|
|
|
|
|
|
|
|
|
(1)
Share-based compensation:
|
|
|
|
|
|
|
|
Cost of
services
|
|
$
357
|
|
|
$
312
|
|
|
Research and
development costs, net
|
|
292
|
|
|
254
|
|
|
Selling and
marketing expenses
|
|
750
|
|
|
611
|
|
|
General and
administrative expenses
|
|
1,345
|
|
|
1,357
|
|
|
|
|
$
2,744
|
|
|
$
2,534
|
|
|
|
|
|
|
|
|
|
(2)
Amortization of intangible assets:
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
$
249
|
|
|
$
597
|
|
|
Research and
development costs, net
|
|
29
|
|
|
118
|
|
|
|
|
$
278
|
|
|
$
715
|
|
|
|
|
|
|
|
|
|
* See Note 14.A to
our consolidated financial statements for the year ended December
31, 2012 included in our Annual Report on Form 20-F, regarding
November 2012 law
|
|
|
|
|
|
|
|
|
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