Exhibit 99.1
CALLIDUS SOFTWARE REPORTS PRELIMINARY FINANCIAL RESULTS
FOR THE SECOND QUARTER 2005
Full Financial Results to be Released on July 27, 2005
San Jose, Calif., June 30, 2005 -- Callidus Software Inc. (Nasdaq: CALD), a
leader in Enterprise Incentive Management (EIM), today announced preliminary
financial results for the second quarter ended June 30, 2005.
The Company expects total revenues for the second quarter of 2005 to be within
the range of $11.9 million to $12.4 million. License revenues for the second
quarter are expected to be approximately $1.1 million. Maintenance and service
revenues for the second quarter are expected to be in the range of $10.8 million
to $11.3 million. Cash and short term investments are expected to be
approximately $58.7 million on June 30, 2005.
"The preliminary second quarter financial results we are announcing today
reflect disappointing license revenues. We will discuss the second quarter in
detail as well as our plans for moving forward when we report our second quarter
financials on July 27, 2005," said Robert Youngjohns, president and chief
executive officer of Callidus Software.
Callidus Software will report full financial results for the second quarter of
2005 on Wednesday, July 27, 2005 after the market closes, followed by a
conference call at 1:30 p.m. Pacific Daylight Time (PDT). The conference call
will be available via live webcast at the Investor Relations section of Callidus
Software's website at www.CallidusSoftware.com. To participate in the call via
telephone, the dial-in number will be 800-299-7635 (international 617-786-2901),
passcode 77018686.
A telephone playback and webcast replay of the conference call will be available
after 3:30 p.m. PDT on July 27, 2005 through August 10, 2005. The telephone
replay will be available by calling 888-286-8010 (International callers:
617-801-6888) passcode 53470012. The webcast replay will be available at the
Investor Relations section of our website under Calendar of Events.
ABOUT CALLIDUS SOFTWARE
Founded in 1996, Callidus Software (www.CallidusSoftware.com) is a leading
enterprise incentive management (EIM) provider to global companies across
multiple industries. Callidus' EIM systems allow enterprises to develop and
manage incentive compensation linked to the achievement of strategic business
objectives. Through its TrueComp(R) Grid architecture, Callidus delivers an EIM
solution that combines the power and scalability of grid computing with the
flexibility of a rules-based interface. Customers/Partners include AOL Time
Warner Corporation, AT&T Wireless, BMC Software, CUNA Mutual, DIRECTV, Dun &
Bradstreet, IBM, Pennzoil-Quaker State Company, SBC Communications and Sun
Microsystems.
NOTE ON FORWARD-LOOKING STATEMENTS
The forward looking statements included in this press release, including
estimates of revenues and cash for the second quarter of 2005 and management's
readiness to discuss the second quarter in detail on July 27, 2005, reflect
management's best judgment based on factors currently known and involve risks
and uncertainties. These risks and uncertainties include, but are not limited
to, completion of the closing of its financial records for the month of June,
review of financial results by the Company's independent accountants, litigation
and other risks detailed in the Company's reports filed with the Securities and
Exchange Commission (SEC), including its Form 10-K and Form 10-Qs, copies of
which may be obtained from the SEC's website (www.sec.gov), by contacting
Callidus Software's Investor Relations department at 408-808-6577, or from the
Investor Relations section of Callidus Software's website
(www.CallidusSoftware.com). Actual results may differ materially from those
presently reported. We assume no obligation to update the information contained
in this release.
(C) 2005 by Callidus Software Inc. All rights reserved. Callidus Software, the
Callidus Software logo, Everyone Profits, TrueChannel, TrueComp, TrueComp Grid,
TrueInformation, TruePerformance, TrueReferral, and TrueResolution are
trademarks of Callidus Software Inc. All other trademarks are the property of
their respective owners.
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INVESTOR RELATIONS CONTACT: PRESS CONTACT:
Jon Pexton Jane Le Fevre
408-808-6577 408-808-6511
ir@callidussoftware.com pr@callidussoftware.com