ClickSoftware Contact: Investor Relations Contact:
Noa Schuman Marybeth Csaby / Rob Fink
Investor Relations KCSA Strategic Communications
+972-3-7659-467 212-896-1236 / 212-896-1206
Noa.Schuman@clicksoftware.com mcsaby@kcsa.com / rfink@kcsa.com
CLICKSOFTWARE PROVIDES AN UPDATE ON 2010 THIRD QUARTER RESULTS
Strong Outlook for the Fourth Quarter
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BURLINGTON, MA, October 11, 2010 - 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 third quarter ended September 30, 2010 to be approximately $17.3
million. The Company also estimates that its cash, cash-equivalents, short and
long-term investments increased by approximately $6 million during the third
quarter, reaching about $48 million as of September 30, 2010.
"While the timing of specific contracts somewhat impacted our third quarter
revenues which are anticipated to be 5% to 6% below plan, our business remains
strong and we expect to close the gap with revenues of more than $20 million in
the fourth quarter. On an annual basis we expect revenues to be in line with our
previously stated guidance. We believe that most of the contracts that have been
delayed will be booked in the near term. Our projection for the fourth quarter
is based on a concrete list of prospects for which the sales process is in
advanced stages, as well as repeat orders to fulfill customers' operational
needs that we believe will be placed during that quarter," said Dr. Moshe
BenBassat, ClickSoftware's Chairman and CEO. "We continue to see strong demand
for our products, engage in new substantial partnerships and further develop our
strong pipeline," he added.
These preliminary results are based on ClickSoftware's initial analysis of
operating results and are subject to change as additional financial information
becomes available.
Third Quarter Earnings Release and Conference Call
ClickSoftware will release its third quarter 2010 financial results on Monday,
October 25, 2010, during pre-market hours.
The Company will host a conference call and live webcast on the same day, at
9:00 a.m. ET. The earnings release will be available on the Company's website at
www.clicksoftware.com prior to the call.
Please call the following dial-in numbers to participate in the call: United
States 1-888-668-9141 (international +972-3-918-0610). This call will be webcast
live on ClickSoftware's website at http://ir.clicksoftware.com. Please allow 10
minutes prior to the call to visit this site to download and install any
necessary audio software.
Following the conclusion of the call, a replay of the webcast will be available
on the Company's website. Alternatively, a telephone replay of the call will be
available until November 1, 2010 at 11:59 p.m. ET, and may be accessed by
dialing: United States 1-888-326-9310 (international +972-3-925-5900).
About ClickSoftware
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 over 200,000 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
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 future results of operations, visibility into
future periods, growth and rates of growth, and expectations regarding future
closing of contracts, receipt of orders, recognition of revenues and deferred
revenues. For example, when we discuss our anticipated revenues for the third
quarter ended on September 30, 2010 and the increase in our cash,
cash-equivalent, short and long term investment during such period, our
expectations with respect to revenues, sales and demand in the fourth fiscal
quarter, meeting our guidance as to annual revenues and timing of future
bookings , we are using forward-looking statements. 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, 2009 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.