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Stock Ideas Investors Daily Edge Things Keep Clicking for This Software Company
Stock Ideas Investors Daily Edge Things Keep Clicking for This Software Company 
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By Rick Pendergraft Almost all the economic reports due out this week are expected to come in worse than the previous reports. |
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| Things Keep Clicking for This Software Company |
| Thursday, 13 September 2007 | ||||||||
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ClickSoftware (Nasdaq: CKSW ), an Israel- and U.S.-based company that develops and markets industry-leading field workforce management optimization software systems, was profiled for Big Idea Investor readers in June. Since then, the company has announced the results of its operations for the three months ended June 30, 2007. For the quarter, revenues were $10.5 million, an increase of 32% from $8.0 million in the second quarter of 2006. Net income for the quarter was $1.0 million, or $0.03 per share, an increase of 118%, compared with $0.4 million, or $0.02 per share, for the second quarter of 2006. On a non-GAAP basis, which excludes the impact of share-based compensation expenses, net income for the second quarter of 2007 was $1.1 million, or $0.04 per share. Chairman and CEO, Dr. Moshe BenBassat, commented, "The second quarter was another period of considerable growth for ClickSoftware, with strong financial results, operational achievements and strategic progress across all parameters.
In response to an increasing demand from both existing customers and new prospects, we continue to scale up the organization, such as a new subsidiary we just formed in Japan. Our new products for leveraging mobility and GPS-based location reports in workforce optimization are gaining recognition as the leading products for the real time service enterprise. Gartner's Magic Quadrant report for field service management published in May 2007 further validates our overall leadership position. Looking forward, we believe that we are positioned for continued strong growth." The company also raised its guidance, projecting annual revenues between $41 million and $42 million in 2007, compared with $32.4 million for 2006. The updated guidance represents annual revenue growth ranging between 26.5% and 29.5%, compared with the 20% growth projection given at the beginning of the year.Since adding shares of ClickSoftware to the Growth Report portfolio on May 21, 2007, shares are up approximately 30%. We continue to like the prospects for the firm, and are maintaining our Buy rating. Further, we are raising our target price from $4.50 to $6.00, a pricing multiple of 30X the forward year earnings estimate. Growth Report is a leading investment advisory newsletter dedicated to discovering undervalued small-cap stocks with the potential for high double digit and triple digit returns. Since its inception in 2001, Growth Report has outpaced the market, as measured by the S&P 500, by 12.8%. To learn more about Growth Report or to take out a complimentary 30-day trial subscription, please click here. Source : News Letter Advisor
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