BURLINGTON, Massachusetts,
July 9, 2012 /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 second quarter ended June 30, 2012 to be about $22.5 million, representing about 9%
year-over-year growth. These numbers do not reflect any
revenues from a contract, signed just after the close of the second
quarter and announced today, valued at about $10 million which, subject to certain terms and
conditions, can grow to $15 million
or more over the next 5 years. Substantial amounts of this contract
are expected to be recognized in the third and fourth quarter of
2012.
Based on preliminary estimates of operating costs, anticipated
net income is expected to be about breakeven. Non-GAAP net income
is expected to be about $1 million,
or $0.03 per share (Non-GAAP net
income excludes amortization of intangible assets expenses of about
$200,000, share-based compensation
expenses of about $700,000, and tax
expenses of about $100,000 in the
second quarter of 2012).
The Company estimates that its cash, cash-equivalents, short and
long-term investments were approximately $50
million as of June 30,
2012.
"As announced today, we signed a significant contract with one
of the largest telecommunication companies in the world, which
selected our optimization and mobility solutions to standardize and
enhance the workflow of tens of thousands of field technicians,"
said Dr. Moshe BenBassat,
ClickSoftware's Chairman and CEO. "This major win, together with
other substantial contracts we signed up to end of the second
quarter, improve our visibility into our revenues for the remainder
of the year as we continue with the expansion plan of our
operations and also in the development of the ClickAppStore for
business applications. This growth engine is being well received in
the market, establishing ClickSoftware as a leader in business
mobility," BenBassat continued.
The above assessment for the second quarter of 2012 is based on
the Company's initial analysis and is subject to change as
additional financial information becomes available.
ClickSoftware will release its second quarter financial
results and will provide an update regarding its annual guidance on
Wednesday, July 25, 2012, 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 is the leading provider of automated workforce
management and optimization solutions for every size of service
business. Our portfolio of solutions, available on demand and on
premises, create business value through higher levels of
productivity, customer satisfaction and operational efficiency. Our
patented concept of 'continuous planning and scheduling'
incorporates customer demand forecasting, long and short term
capacity planning, shift planning, real-time scheduling, mobility
and location-based services, as well as on-going communication with
the consumer on the expected arrival time of the service
resource.
As the pioneers of the 'W6' concept more than 30 years ago, we
have perfected solutions for solving a wide variety of problems on
Who does What, for Whom, with What, Where and When. The combination
of proven technology with educational services helps businesses
find the right balance between reducing costs, increasing customer
satisfaction, employee preferences and industry
regulations/legislation. ClickSoftware's solutions manage hundreds
of thousands of resources in service businesses across a variety of
industries and geographies. Our flexible deployment approach,
breadth and depth of solutions and strong partnerships with leading
CRM/ERP vendors and system integrators makes us the number
one choice to deliver superb business performance to any
organization. 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.
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 and net income
for the second quarter of 2012, our anticipated cash,
cash-equivalents and investments as of June
30, 2012, and the expected amount and timing of revenues
from, and their expected impact on results in future quarters, from
a new contract announced today. 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, 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,
2011 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:
Noa Schuman
Investor Relations
+972-3-7659-467
Noa.Schuman@clicksoftware.com
Investor Relations Contact:
Rob Fink
KCSA Strategic Communications
+1-212-896-1206
rfink@kcsa.com
SOURCE ClickSoftware Technologies Ltd