July 13, 2012
ClickSoftware Expects Considerable Year Over Year Growth in Second Quarter Revenue
By Arvind Arora
Market sector of workforce management and optimization has been witnessing tremendous growth due to the rising adoption of related technologies and solutions by enterprises across the world.
ClickSoftware (News - Alert), a provider of automated workforce management and optimization solutions, has announced that it is expecting to have earned total revenue of around $22.5 million in the second quarter of the year 2012, with an approximate year over year growth of nine percent.
The company offers a wide range of solutions on demand as well as at premises, which allows enterprises to enhance their productivity, customer satisfaction and overall operational efficiency. It implements the ‘continuous planning and scheduling’ methodology for forecasting customer demand and planning long and short term capacity.
Recently, ClickSoftware has entered a contract valued at around $10 million, which can also rise to an amount of $15 million or even more within the next five years depending upon some specific terms and conditions. Profits realized out of the new contract will be recognized during the third and fourth quarters of the present year, the company says.
During the second quarter 2012, the Non-Generally Accepted Accounting Principles or ‘Non-GAAP’ net income of the company was around $1 million, or $0.03 per share. This Non-GAAP net income doesn’t include amortization of intangible assets expenses of about $200,000; tax expenses of about $100,000 and the share-based compensation expenses of about $700,000 made during the quarter. Till the 30th of June, 2012, the aggregate cash, cash-equivalents and short and long-term investments of ClickSoftware add up to around $50 million.
“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,” commented Dr. Moshe BenBassat (News - Alert), chairman and chief executive officer at ClickSoftware. “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.”
In March 2012, ClickSoftware announced that its cloud-based workforce management and enterprise mobility solutions have been selected by Metadigm Services, a provider of Advanced Metering Infrastructure services to utilities. Metadigm will leverage the solutions to help it align corporate and geographical workforce expansions in the next three years.
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Edited by Brooke Neuman