ClickSoftware Technologies reports disappointing Q4 results

ClickSoftware Technologies, Ltd. (Nasdaq: CKSW) this morning reported disappointing fourth-quarter results below the consensus on Wall Street, and also provided revenue guidance for fiscal 2008 below analysts’ expectations, pushing shares lower in pre-market.

For the fourth quarter ended Dec. 31, 2007, the provider of mobile workforce management recorded net income of $0.7 million, or $0.02 per share, below the $0.06 per share three analysts surveyed by Thomson Financial were on average forecasting. ClickSoftware earned net income of $1.1 million, or $0.04 per share, for the fourth quarter of 2006.

Total revenues were $10.4 million, a shade lower than the $11.90 million three analysts surveyed by Thomson Financial were on average projecting. This compares with revenues of $9.3 million for the fourth quarter last year.

Software-license revenues for the fourth quarter were $3.2 million, compared with license revenues of $3.4 million in the fourth quarter of 2006; while service and maintenance revenues were $7.2 million, compared with software, service and maintenance revenues of $5.9 million for the same period last year.

Looking ahead to fiscal 2008, the Israeli company said it projects revenues in 2008 to grow by approximately 20% to 25% over 2007, reaching approximately $48 million to $50 million. The revenue guidance was below the $53.13 million three analysts surveyed by Thomson Financial were on average forecasting.

Shares of ClickSoftware Technologies (CKSW) sunk 15.97%, or $0.57, to $3 in pre-market trading. Shares of ClickSoftware Technologies have been trading in the range of $2.81 to $7.09 for the past 52 weeks.

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