Clicksoftware posts record revenue, issues Q4 guidance: CFO Shmuel Arvatz: We achieved 15% growth this year, during a problematic time for the global economy, and we believe that the company will continue to grow.

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Oct 21, 2009 (Globes - McClatchy-Tribune Information Services via COMTEX) -- CKSW | Quote | Chart | News | PowerRating -- ClickSoftware Technologies Ltd. (Nasdaq: CKSW | Quote | Chart | News | PowerRating) today published its financial report for the third quarter of 2009. The workforce management and service optimization solutions developer posted a GAAP-based net profit of $3.2 million ($0.10 per share) on a record $16.6 million revenue compared with a net profit of $2.7 million on $15.7 million revenue for the corresponding quarter of 2008.

Non-GAAP net profit was $3.6 million ($0.11 per share). The company beat the analysts' consensus of earnings per share of $0.08 on $15.4 million revenue.

The share fell 12.8 percent at the opening today to $6.71.

Clicksoftware CFO Shmuel Arvatz told "Globes", "Revenue from services will continue to stay high, although it won't grow at the same rate as in the previous quarters. At the same time, we believe that we'll see slightly higher growth in revenue from licensing sales."

Clicksoftware used to provide only general guidance about its business environment. However, in its guidance for the fourth quarter, the company provided hard numbers. It predicts $16-16.7 million revenue, similar to the third quarter, and 13.5-14.1 percent higher than for the corresponding quarter. The company predicts full-year revenue of $60-60.7 million, 14.7-16.1 percent growth over 2008.

Arvatz said, "We felt that our visibility has improved, and we also wanted the fourth quarter guidance to be clear, so that analysts wouldn't go too far, because the fourth quarter is normally a strong quarter."

"Globes": Do you think that you can maintain 15 percent growth in 2010?

Arvatz: "We haven't yet published guidance for next year, so I can't give a numerical figure. However, we achieved 15 percent growth this year, during a problematic time for the global economy, and we believe that the company will continue to grow."

What shekel-dollar exchange rate is the basis for your 2010 budget?

"We use a shekel-dollar exchange rate of $3.70/$, but that could change. We have 130 employees in Israel, so a significant proportion of our expenses are in shekels. We regularly hedge, but you can never hedge your exposure 100 percent."

Last week, Clicksoftware made its third acquisition this year, buying Israeli shift planning solutions developer AiPoint Ltd. for $1.5 million. Arvetz said, "This acquisition will boost our ability to offer an effective solution for planning and managing shifts for companies that run round-the-clock shifts, such as airports and hospitals."

In view of the strong interest in your company, are you considering dual-listing in Israel?

"We've had a number of inquiries about this, but we have nothing to report."

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