ClickSoftware Reports Results for Q4-2000 as Previously Announced.Business Editors CAMPBELL, Calif.--(BUSINESS WIRE)--Jan. 31, 2000 ClickSoftware Technologies Ltd. (Nasdaq:CKSW), a leading provider of software for optimizing service operations, today reported results for the fourth quarter and year ended December 31, 2000. Consistent with the preliminary results reported on January 4, 2001, fourth quarter 2000 revenues were $3.1 million with a net loss of $5.1 million or $0.20 per share. These results compare to revenues of $4.8 million and a net loss of $1.9 million or $0.07 per share reported for the previous quarter end. Based on 17.7 million shares outstanding, the company reported net loss of $7.4 million or a pro-forma loss of $0.41 per share for the fourth quarter of 1999. Excluding $0.3 million of non-cash share compensation expenses for the quarter ended December 31, 2000, net loss is $4.8 million amounting to cash EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. of -$0.19 per share. In year to year comparison, total revenues for 2000 increased 52 percent to $15.7 million, up from $10.3 million for 1999. The net loss for the year was $13.0 million or $ 0.58 per share compared with $13.0 million or pro-forma loss of $0.73 per share in 1999. For the year 2000, the company enjoyed a favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. impact on its gross margin as a result of a stronger increase in license revenues relative to service revenues. License revenues for 2000 increased 94 percent to $10.5 million from $5.4 million in 1999. Service and maintenance revenues increased 7 percent to $5.2 million from $4.9 million in 1999. Gross profit for 2000 rose to 66 percent from 1999's 58 percent. "The fourth quarter results were affected by the recent slowdown For articles with similar titles, see Slow Down (disambiguation). A slowdown is an industrial action in which employees perform their duties but seek to reduce productivity or efficiency in their performance of these duties. in corporate spending on information technology as a result of changes in the economy," said Dr. Moshe BenBassat, chairman and chief executive officer of ClickSoftware. "While we are disappointed with the results reported today, our pipeline remains healthy. With $21 million at the end of the quarter and based on our revenue projections and expense estimates, we currently expect to achieve profitability towards the latter part of 2001," he added. "Service chain optimization optimization Field of applied mathematics whose principles and methods are used to solve quantitative problems in disciplines including physics, biology, engineering, and economics. today is where supply chain optimization Supply Chain Optimization is the application of processes and tools to ensure the optimal operation of a manufacturing and distribution supply chain. This includes the optimal placement of inventory within the supply chain, minimizing operating costs (including manufacturing costs, was five years ago," said Dr. BenBassat. "We pioneered this field and are a leader in this significantly underserved market. Our products deliver clear `return on investment' and, as businesses are looking today for ways to improve their effectiveness, we believe the demand for our products is likely to remain strong." The Company also announces that its Chief Financial Officer, Mr. Shimon Rojany, plans to retire. Mr. Rojany will continue as CFO See Chief Financial Officer. until the appointment of a replacement. The company has begun its search for a new CFO. ClickSoftware's Chairman Moshe BenBassat says, "Over many years Shimon has contributed immensely to the growth of ClickSoftware. We respect his desire to leave and appreciate his continued efforts until we find the right replacement. Having worked with Shimon for a long time, I know he will do whatever it takes to ensure a smooth transition." ClickSoftware management will host a conference call on Thursday, February 1, 2001 at 10:00 a.m. (ET) to discuss these results and answer questions from the investment community. To participate, please call 800/322-0079 and ask for the ClickSoftware call. International callers please call 973/321-2002. A replay of the conference call will be available for playback Playback could mean:
The process by which the corporation communicates with its investors. page on the ClickSoftware website: http://www.ClickSoftware.com. About ClickSoftware Headquartered in Campbell, Calif., ClickSoftware is a leading provider of end-to-end service chain optimization solutions for service organizations. Its products optimize optimize - optimisation service operations by simultaneously increasing revenues, reducing operating costs operating costs npl → gastos mpl operacionales , and increasing customer loyalty. Used by customers in a wide array of industries, including telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. , utility, retail, high-tech, IT service, automotive, healthcare, and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , ClickSoftware's solutions cover strategic capacity planning Determining the required future configuration of hardware and software for a network, datacenter or Web site. There are numerous capacity planning tools on the market used to monitor and analyze the performance of the current hardware and software. , short term resource planning Resource planning may refer to:
In addition to its Silicon Valley headquarters, ClickSoftware has offices and distributors throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , as well as in Canada, Germany, Israel, and the United Kingdom. ClickSoftware's products are used by both B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business and B2C (Business to Consumer) Refers to a business communicating with or selling to an individual rather than a company. See B2B. service organizations, including: British Gas British Gas is the name of several companies
Quarterly sales $2499M, profits $210M (Aug 1994). http://compaq.com/. , Crawfords, Crown Castle, EMEB EMEB East Midlands Electricity Board , Enbridge Home Services, Gerber Technology, High Speed Access Corp. (HSA HSA Health Savings Account (US) HSA Human Serum Albumin HSA Human Services Agency (Nevada) HSA Health Services Agency HSA Health and Safety Authority (Ireland) ), ICL (International Computers Ltd., London) The former name of Fujitsu Services, the European-centered arm of the global Fujitsu Group and one of the leading IT services companies in Europe, the Middle East and Africa. , Level 3 Communications
Level 3 Communications NASDAQ: LVLT is a communications and information services company headquartered in Broomfield, Colorado, USA. , Swisscom, UPC (Universal Product Code) The standard bar code printed on retail merchandise, which is administered by GS1 US, Brussels, Belgium and Lawrenceville, NJ (www.gs1.org). , Verizon, and Wards. For more information about ClickSoftware, call 408/377-6088 or 888/438-3308 or visit www.clicksoftware.com. This press release contains express or implied forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. These 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. include, but are not limited to, those regarding ClickSoftware's products, markets, and future results of operations and profitability, and may include implied statements concerning market acceptance of our products, and our growing leadership role in the market. Such "forward-looking statements" involve known and unknown risks, uncertainties and other factors which may cause actual results or performance to be materially different from those projected. ClickSoftware's achievement of these results may be affected by many factors, including among others, the following: uncertainties regarding customer demand; uncertainties regarding continued market acceptance of our products; uncertainties related to the general condition of the economy and the pace of information-technology spending; uncertainties regarding our intellectual property; and the uncertain effects of competition and other factors on our results of operations. The forward-looking statements contained in this press release are subject to other risks and uncertainties, including those discussed in ClickSoftware's filings with the Securities and Exchange Commission, ClickSoftware's prospectus dated June 22, 2000 and ClickSoftware's 10Q for the quarter ended September 30, 2000, and may be found within the sections titled Risk Factors and Management Discussion and Analysis. ClickSoftware does not undertake to update any forward-looking statements.
ClickSoftware Technologies Ltd.
CONSOLIDATED BALANCE SHEETS
(In thousands of U.S dollars)
December 31, December 31,
1999 2000
ASSETS
CURRENT ASSETS
Cash and cash equivalents $ 7,838 $ 4,438
Short-term investments 16,878
Trade recievables 3,966 4,375
Other recievables and debit balances 465 1,466
Total current assets 12,269 27,157
EQUIPMENT
Cost 3,467 6,395
Less -- accumulated depreciation 1,969 2,623
1,498 3,772
Severance pay deposits 428 526
Total Assets $ 14,195 $ 31,455
LIABILITIES AND SHAREHOLDERS' EQUITY
December 31, December 31,
1999 2000
Current liabilities
Short-term borrowings $ 320 $ 146
Accounts payable and accrued expenses 2,799 3,274
Deferred revenues 1,143 127
Total current liabilities 4,262 3,547
Long term liabilities
Long term debt 213 103
Accrued severance pay, net 899 1,343
Total long term liabilities 1,112 1,446
Total liabilities 5,374 4,993
Shareholders' equity
Ordinary shares of NIS 0.02 par value 73 100
Additional paid in capital 40,052 69,169
Deferred Compensation (2,663) (1,120)
Accumulated deficit (28,641) (41,687)
Total shareholders' equity 8,821 26,462
Total liabilities
and shareholders' equity $ 14,195 $ 31,455
ClickSoftware Technologies Ltd.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share and per share amounts)
Three Months Ended
December 31, 1999 December 31, 2000
$ % of Revenues $ % of Revenues
Revenues:
Software license $2,271 71% $2,094 67%
Service and
maintenance 926 29% 1,040 33%
Total Revenues 3,197 100% 3,134 100%
Cost of revenues:
Software license 50 2% 22 0%
Service and
maintenance 1,260 39% 1,239 40%
Total Cost of
revenues 1,310 41% 1,261 40%
Gross profit $1,887 59% $1,873 60%
Operating expenses:
Research and
development
costs, net 889 28% 954 30%
Marketing and selling
expenses, net 2,576 81% 4,324 138%
General and
administrative
expenses 497 16% 1,802 57%
Share-based
compensation 76 1% 250 9%
Total operating
expenses $4,038 126% $7,330 234%
Loss from operations (2,151) -67% (5,457) -174%
Interest and other
(expenses) income,
net (252) -8% 350 11%
Net loss $(2,403) -75% $(5,107) -163%
Dividend related to
convertible preferred
shares $(4,989) 0
Net loss attributable
to ordinary
shareholders $(7,392) $(5,107)
Reported net loss
per ordinary share $(0.41) $(0.20)
Net loss per ordinary
share excluding charges
for share based
compensation $(0.41) $(0.19)
Shares used in
computing pro forma
basic and diluted
net loss per
share 17,921,975 24,928,470
ClickSoftware Technologies Ltd.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share and per share amounts)
Year Ended
December 31, 1999 December 31, 2000
$ % of Revenues $ % of Revenues
Revenues:
Software license 5,414 52% 10,500 67%
Service and
maintenance 4,912 48% 5,242 33%
Total Revenues 10,326 100% 15,742 100%
Cost of revenues:
Software license 71 1% 272 2%
Service and
maintenance 4,299 42% 5,156 33%
Total Cost of
revenues 4,370 42% 5,428 35%
Gross profit 5,956 58% 10,314 66%
Operating expenses:
Research and
development costs,
net
General and
administrative
expenses 1,759 17% 4,397 28%
Share-based
compensation 738 7% 1,237 8%
Total operating
expenses 13,681 132% 24,040 153%
Loss from operations (7,725) -75% (13,726) -87%
Interest and other
(expenses) income,
net (254) -2% 678 4%
Net loss $(7,979) -77% $(13,048) -83%
Dividend related
to convertible
preferred shares (4,989) 0
Net loss attributable
to ordinary
shareholders $(12,968) $(13,048)
Reported net loss
per ordinary share $(0.73) $(0.58)
Net loss per ordinary
share excluding
charges for share
based compensation $(0.69) $(0.53)
Shares used in
computing pro forma
basic and diluted
net loss per share 17,692,964 22,312,554
|
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion