BURLINGTON, Massachusetts, April 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 first quarter ended March 31, 2012 to be approximately $21.6 million, up about 12% compared to the first quarter of 2011 . The Company estimates that its cash, cash-equivalents, short and long-term investments were approximately $54.3 million as of March 31, 2012. The Company reiterates its 2012 annual guidance for revenues of $100 million to $105 million.
"First quarter 2012 revenues represent approximately 12% year over year growth, bookings and backlog were healthy, and we expect annual revenues to be in line with our previously stated guidance. While first quarter revenues came in somewhat below expectations, I would not read into this more than a seasonal first quarter softness," said Dr. Moshe BenBassat, ClickSoftware's Chairman and CEO. "We continue to make intense progress with our new mobility initiative and other growth plans, and are very excited with the opportunities in the market."
The above assessment for the first 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 first quarter financial results on Wednesday, May 2, 2012, during pre-market hours. A news 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.