BURLINGTON, Massachusetts, October 3, 2011 /PRNewswire/ --
ClickSoftware Technologies Ltd. (NasdaqGS: CKSW), the leading provider of automated workforce management and optimization solutions for the service industry, today announced preliminary results for the third quarter ended September 30, 2011.
The Company anticipates record revenues for Q3 2011 in an approximate range of $22.7 to $23.5 million. The Company also revised upward its annual guidance for full year 2011 to the range of approximately $85 to $87 million, compared with the previously provided annual guidance of between $81.5 and $85 million.
"ClickSoftware continues to see strong business", stated Dr. Moshe BenBassat, ClickSoftware's Chairman and CEO. "Not only did we generate strong results in the third quarter, additional new contracts are now in advanced stages for closure in the upcoming quarter, which give us sufficient comfort to increase our guidance for the full year 2011", he added.
The above assessment for the third quarter of 2011 is based on the Company's initial analysis and is subject to change as additional financial information becomes available. ClickSoftware expects to report its final financial results for the third quarter of 2011 towards the end of October 2011. A news release announcing the exact date, and dial-in and webcasting details for the conference call, will be issued in advance.
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 premise, creates 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.
As the pioneers of the 'W6' concept more than 20 years ago, we have perfected solutions for solving a wide variety of problems on Who does What, for Whom, with What, Where and When. The combination of proven technology with educational services helps businesses find the right balance between reducing costs, increasing customer satisfaction, employee preferences and industry regulations/legislation. ClickSoftware's solutions manage hundreds of thousands of resources in service businesses across a variety of industries and geographies. Our flexible deployment approach, breadth and depth of solutions and strong partnerships with leading CRM/ERP vendors and system integrators makes us the number one choice to deliver superb business performance to any organization. The Company is headquartered in the United States and Israel, with offices across Europe, and Asia Pacific. For more information, please visit http://www.clicksoftware.com or follow us on Twitter, the content of which is not part of this press release.
Safe Harbor for Forward Looking Statements
This press release contains express or implied forward-looking statements within the Private Securities Litigation Reform Act of 1995 and other U.S Federal securities laws. These forward-looking statements include, but are not limited to, those statements regarding expectations regarding future closing of contracts and our anticipated revenues for the third quarter ended on September 30, 2011 and the full year 2011. Such "forward-looking statements" involve known and unknown risks, uncertainties and other factors that may cause actual results or performance to differ materially from those projected. Achievement of these results by ClickSoftware may be affected by many factors, including, but not limited to, risks and uncertainties regarding the general economic outlook, the length of or changes in ClickSoftware's sales cycle, ClickSoftware's ability to close sales to potential customers in a timely manner and maintain or strengthen relationships with strategic partners, the timing of revenue recognition, foreign currency exchange rate fluctuations, and ClickSoftware's ability to maintain or increase its sales pipeline. The forward-looking statements contained in this press release are subject to other risks and uncertainties, including those discussed in the "Risk Factors" section and elsewhere in ClickSoftware's annual report on Form 20-F for the year ended December 31, 2010 and in subsequent filings with the Securities and Exchange Commission. Except as otherwise required by law, ClickSoftware is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
Investor Relations Contact:
Rob Fink / Chi-Chi Millaway
KCSA Strategic Communications
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SOURCE ClickSoftware Technologies Ltd