ClickSoftware Technologies Q4 Profit Declines, But Revenues Up

(RTTNews) - ClickSoftware Technologies Ltd. (CKSW), a provider of automated workforce management and optimization solutions for service industry, Wednesday reported fourth-quarter net income of $2.26 million or $0.07 per share, lower than $3.91 million or $0.12 per share in the previous year.

On a non-GAAP basis, earnings were $0.07 per share, while the company posted $0.13 per share last year.

Two analysts polled by Thomson Reuters expected the company to report a loss of $0.02 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly revenues grew 8% to $30.69 million from $28.40 million a year ago. Analysts estimated revenues of $28.25 million for the quarter.

Total operating expenses advanced to $17.77 million from $14.93 million in the preceding year.

Looking ahead to full-year 2014, the company expects a loss of $0.04 per share to earnings of $0.02 per share.

Non-GAAP earnings are expected to be in the range of $0.06 to $0.12, which exclude share-based compensation costs of about $0.09, and deferred taxes expense of nearly $0.01 per share.

For 2014, the firm currently expects top line growth of 8% to 11%, and to achieve revenues in the $111 to $115 million range.

Analysts are looking for earnings of $0.05 per share, on revenues of $107.05 million fro the year.

The company also announced the appointment of Zvi Piritz as President of EMEA & APAC and Stephen Timms as President of Americas, reporting to the CEO - Moshe BenBassat.