Click Commerce Reports Delay in Filing its Annual Report on Form 10-K; No Change in Previously Announced Revenues and Earnings.CHICAGO -- Click Commerce, Inc. (Nasdaq:CKCM), a leading provider of on-demand supply chain management solutions, today reported that, while it expects no change in its previously announced financial results, the Company's assessment of internal control over financial reporting could not be completed in time to permit the filing of the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. by the March 16, 2006 deadline. As a result, the Company today filed a notice with the Securities and Exchange Commission on Form 12b-25 extending the filing deadline for 15 days. The Company expects its assessment of the effectiveness of the Company's internal control over financial reporting, required by Section 404 of the Sarbanes-Oxley Act See SOX. of 2002, will be completed in time for the Company to file the Form 10-K within the extension provided under Rule 12b-25. In addition, as required by Form 12b-25, the Company reiterated its previously announced revenues and earnings for the quarter and year ended December 31, 2005, which reflected significant increases in the Company's results of operations from the corresponding period for the Company's quarter and year ended December 31, 2004. Such results were reported as follows: Total fourth quarter 2005 revenues were $18.2 million, representing over 153% growth from fourth quarter 2004 revenue of $7.2 million. Net income was $9.9 million, or $0.79 per share, including a $5.4 million reversal of a portion of the Company's deferred tax asset valuation allowance. For the year, 2005 revenues were $58.7 million, representing 128% growth from 2004 revenue of $25.7 million. Net income was $19.5 million, or $1.63 per share, including the reversal of a portion of the Company's deferred tax asset valuation allowance. Information Concerning Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Information contained in this release that are not historical facts and refer to the Company's future operations are forward-looking statements under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements involve expectations, beliefs, hopes, plans or strategies regarding the future. These statements are subject to risks and uncertainties and actual results may differ materially from those indicated by these forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to: success of our suite of applications, impact of acquisitions or investments in other companies, general economic trends, introduction of new products or services by competitors, and security risks and regulation related to the Internet. We refer you to the risk factors listed in our annual report on Form 10-K, quarterly reports on Form 10-Q Form 10-Q See 10-Q. and other filings, which are on file with the Securities and Exchange Commission. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in the Company's expectations with regard thereto there·to adv. 1. To that, this, or it. 2. Archaic In addition to that; furthermore. thereto Adverb Formal 1. to that or it 2. or to reflect any change in any event, condition or circumstance on which such forward-looking statement is based, in whole or in part. About Click Commerce, Inc. Click Commerce, Inc., (Nasdaq:CKCM), a leading provider of on-demand supply chain management solutions, enables millions of users in 70 countries to collaborate, in real time, with business partners across the extended enterprise. Click Commerce solutions support the unique business processes of multiple industry segments such as manufacturing, aerospace and defense, high-tech, and research and healthcare. Click Commerce enables corporations including Alaska Airlines Alaska Airlines, (NYSE: ALK) is an airline based in Seattle, Washington, United States. It operates hubs at Seattle-Tacoma International Airport, Ted Stevens Anchorage International Airport, Los Angeles International Airport, and Portland International Airport. , BASF BASF Bar Association of San Francisco (since 1872; San Francisco, California) BASF Badische Anilin und Soda Fabrik (German chemical products company) BASF Builders Association of South Florida , Citibank, Delphi, Eastman Kodak Company, Jabil Global Services, Lockheed Martin For the former company, see . Lockheed Martin (NYSE: LMT) is a leading multinational aerospace manufacturer and advanced technology company formed in 1995 by the merger of Lockheed Corporation with Martin Marietta. , Microsoft, Pier 1, Ryder, and Verizon to coordinate and optimize optimize - optimisation business processes, accelerated revenue, lower costs, and improve customer service. More information can be found at www.clickcommerce.com |
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