ClickSoftware Technologies Ltd. (CKSW)

[surf1944]

ClickSoftware Reports Financial Results: Record Booking, Strong Cash Increase for the 4th Quarter and Year Ended December 31, 2007
Wednesday January 30, 4:53 am ET
Year-Over-Year Revenue Growth of 23%

BURLINGTON, Massachusetts, January 30 /PRNewswire-FirstCall/ -- ClickSoftware Technologies, Ltd., (NasdaqCM: CKSW), the leading provider of mobile workforce management and service optimization solutions, today announced results for the fourth quarter and year ended December 31, 2007.

For the fourth quarter ended December 31, 2007, total revenues were $10.4 million, with net income of $0.5 million, or $0.02 per share. This compares with revenues of $9.3 million and net income of $1.1 million, or $0.04 per share, for the same period last year, and revenues of $10.1 million and net income of $0.7 million, or $0.03 per share, for the third quarter of 2007. Excluding the effects of share-based compensation expenses related to the adoption of SFAS-123R, net income was $0.7 million, or $0.02 per share, for the fourth quarter of 2007.

Software license revenues for the fourth quarter of 2007 were $3.2 million, while service and maintenance revenues were $7.2 million. This compares to software license revenues of $3.4 million and service and maintenance revenues of $5.9 million for the same period last year, and $4.3 million and $5.8 million, respectively, in the third quarter of 2007.

Gross profit in the fourth quarter of 2007 was $6.7 million, or 64% of revenues, compared to $5.9 million, or 63% of revenues, in the same period last year, and $6.0 million, or 59% of revenues, in the third quarter of 2007.

Cash, cash equivalents and short and long-term investments in the fourth quarter of 2007 increased significantly to $24.7 million from $21.3 million at the end of the third quarter of 2007. Net cash provided from operating activities was $3.6 million during the fourth quarter of 2007.

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