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TheStreet Open House

ClickSoftware Updates 2012 Second Quarter Financial Results

Stocks in this article: CKSW

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.

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