ClickSoftware Technologies Lifts Q4, FY13 Revenues Guidance - Quick Facts

(RTTNews) - ClickSoftware Technologies Ltd. (CKSW), a provider of automated workforce management and optimization solutions for the service industry, said Monday that it expects record revenues of about $30.5 million in the fourth quarter of 2013, exceeding its guidance of $26 million to $28 million. Analysts polled by Thomson Reuters expect the company to report revenues of $26.02 million for the fourth-quarter. Analysts' estimates typically exclude special items.

For the full year 2013, the company now expects that revenues will reach about $103 million, compared to prior estimate of $98.5 million to $100.5 million. Two analysts estimate revenues of $98.51 million for fiscal 2013.

Based on preliminary estimates of operating costs it is also expected that profitability will be achieved in fourth quarter of 2013. Cash, cash-equivalents, short and long-term investments continued to grow, increasing by about $2.3 million during the fourth quarter, reaching about $58 million as of December 31, 2013.

"We saw a remarkable improvement in our business during the fourth quarter leading to strong results that exceeded expectations......We are entering the new year with a lot of momentum and feel very strongly that our successful transition to the cloud will be supported by a material increase in recurring revenues in the second half of 2014," said Moshe BenBassat, ClickSoftware's Founder and CEO.

The company noted that it added a record nineteen new customers in the fourth quarter, more than 50% of which are cloud customers.

The company stated that it will provide an update and release additional fourth quarter and annual financial results and will provide an update regarding its annual guidance on Wednesday, February 5, 2014, during pre-market hours.