This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ClickSoftware Reports Record Revenues For The Third Quarter Ended September 30, 2012

Stocks in this article: CKSW

BURLINGTON, Massachusetts, October 31, 2012 /PRNewswire/ --

ClickSoftware Technologies Ltd. (NasdaqGS: CKSW), the leading provider of automated workforce management and optimization solutions for the service industry, today announced results for the third quarter ended September 30, 2012.

For the third quarter ended September 30, 2012, total revenues were $27.3 million, up 18% from $23.2 million in the third quarter of 2011. Net income for the third quarter of 2012 was $2.8 million, or $0.09 per fully diluted share, compared to net income of $4.5 million, or $0.14 per fully diluted share, for the same period last year.

Non-GAAP net income for the quarter was $3.7 million, or $0.11 per fully diluted share, compared to $5.5 million, or $0.17 per fully diluted share, for the same period last year.

Software license revenues for the third quarter of 2012 were $11.0 million, up 24% compared to software license revenues of $8.9 million for the same period last year. Service and maintenance revenues were $16.3 million, up 14% compared to service and maintenance revenues of $14.3 million in the same period last year.

Gross profit in the third quarter of 2012 was $17.5 million, or 64% of revenues, compared to $15.2 million, or 66% of revenues, in the same period last year.

Net cash provided by operating activities was $4.5 million during the third quarter of 2012.  After paying a cash dividend of $2.5 million, cash, cash equivalents and short and long-term investments at the end of the third quarter of 2012 were $51.6 million, an increase of $1.7 million compared to the end of the second quarter of 2012.

Management Commentary

"We are pleased with the strong results for the third quarter.  Significant operational progress, healthy bookings and a strong pipeline of new business provide us with confidence in our strategy and good visibility moving forward.  Specifically, investments to address increased market demand in the workforce management market by enhancing our Mobility, Shift Planning and Cloud offerings are paying off.  We are seeing traction in new verticals while successful deployments in traditional industries such as Telecommunication and Utilities continue to support our value proposition and highlight the strength of our market position.  Growing market demand in the Americas - including Latin America - and Russia have more than offset any weakness we've seen in Europe. Our market position has again been supported by industry analysts and independent market research.  For the second year in a row, we were ranked as Leader in Gartner's Magic Quadrant for Field Service Management report and we continue to drive the workforce management and enterprise mobility market from a leadership position," said Dr. Moshe BenBassat, ClickSoftware's Chairman and CEO.

"As we look forward to the fourth quarter and beyond, we will continue to differentiate ourselves through innovative product offerings that allow service providers to better optimize their workforce and reduce inefficiencies.  As our investments continue to bear fruit, we look forward to taking the company to the next level by potentially reaching, then surpassing, the $100 million sales mark," Dr. BenBassat concluded.


The Company reiterates the previously provided full year 2012 guidance of revenues in the range of $98 to $103 million, representing about 13% to 18% growth over 2011.

Cash Dividend

ClickSoftware also announced today that on October 29, 2012, its Board of Directors approved a $0.08 per share dividend to be paid on November 28, 2012 to all shareholders of record as of the close of business on November 14, 2012. The dividend will be paid net of any required tax. The Company does not have a formal policy governing the amounts and payment of dividends, and the declaration and payment of future dividends, if any, is at the discretion of the Company's Board of Directors.  

Investors Conference Call

ClickSoftware will host a conference call today at 9:00 a.m. EDT 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) 668-9141 and ask for the ClickSoftware conference call. International participants, please call +972-3-918-0609. The call will be broadcasted by live webcast on the internet (in listen mode only) at  A replay of this webcast will be available on the ClickSoftware website. Alternatively, a telephone replay of the call will be available for a week by calling (888) 326-9310 (international callers can dial +972-3-925-5901).

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.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs