Update on ClickSoftware’s (CKSW) earnings miss
Written by: Zack Miller | January 31, 2008
ClickSoftware (Nasdaq: CKSW) announced disappointing quarterly earnings yesterday. The company’s EPS and revenues were below what we and the rest of the Street were expecting. We think expectations got a
little bit ahead of themselves. While we’re disappointed, the company is continuing to perform and still expects 20-25% revenue growth in 2008. The backlog was strong, over $25 million at the end of 2007.
We think the miss was due to slipped closings of a couple deals that we believe the company ultimately will close in subsequent quarters. At current valuations and subtracting the cash, the company is trading almost at trailing revenues. Check out why we like the firm’s workforce management and service optimization.
We’re sticking with CKSW and would be buyers here.
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