ClickSoftware raises annual guidance on climbing revenue
Climbing software and services revenue prompted ClickSoftware Technologies Ltd. (Nasdaq: CKSW) executives to raise annual guidance. The Israeli business software maker said it expects revenue of between $41 and $42 million in 2007, compared with previous guidance of around $38.88 million. In 2006, the company recorded $32.4 million in revenue.
“Based on recent wins, backlog and the current pipeline, we are raising our guidance,” CEO Moshe BenBassat said on a morning conference call.
Based on recent orders, BenBassat said the company feels as if its market share is increasing.
“The overall demand is growing,” he said. “At the risk of being off by a few points, I would say that our present market share is about 40% for the workforce and service optimization sector.”
The company is performing well in service products for the field service industry, and competitors in the field service management software sector are “far, far behind us,” he said. The company expects strong future growth in this sector, he said.
Before the start of trading, ClickSoftware reported $10.5 million in revenue for the second quarter ended June 30, compared with $8.0 million a year earlier. The company recorded net income of $1 million, or $0.03 a share, up from $0.4 million, or $0.02 per share, in the same period of 2006. The results beat Wall Street estimates of $0.01 earnings per share on $9.35 million in revenue.
In today’s trading, ClickSoftware shares are up $0.12, or 2.36%, at $5.20. Over the last 52 weeks, shares of the small-cap company have ranged between $1.68 and $6.76.
