Incorporated today announced financial results, company
advancements, and customer successes for the first quarter of Fiscal
2019. Annual recurring revenue (ARR) bookings increased 24 percent with
total revenue for the quarter approaching $350 million.
"Following the strong momentum of closing the best quarter in the best
year in company history, we had an exciting start to Fiscal 2019," said
Aron Ain, Kronos (News - Alert) chief executive officer. "We continue to heavily invest
in our future - from aggressively growing our human capital management
(HCM) presence and riding the wave of Workforce Dimensions adoption, to
investing in the customer experience and further extending our deep
focus on being a great place to work - Kronos is on track to continue
growing our business in multiple dimensions. Following a strong close to
the first quarter, we're eyeing another record-breaking Fiscal 2019."
ARR Bookings Increased 24 Percent as HCM and Workforce Management
SaaS (News - Alert) Deals SurgeARR bookings continued to grow across HCM and
workforce management solutions, fueling a strong start to 2019.
Rapid Adoption of Kronos HCM Driven by Human Resources (HR) and
Payroll EnhancementsDriven by market demand for an HCM
provider with deep industry expertise and the ability to deliver HCM for
the modern workforce - whether hourly or salaried, part-time, full-time,
or contractor - Kronos HCM bookings rose 57 percent in the first quarter
and 38 percent over the last 12 months.
Workforce Dimensions, AIMEE, and Innovations Built on Kronos D5
Reshape the Future of WorkAfter Workforce Dimensions
out-performed the company's most aggressive estimates in the first year
of availability, Kronos added more than a quarter million additional
hourly and salaried employee licenses in the first quarter of Fiscal
Verticalization Continues to be a Key Differentiator in the Kronos
Customer ExperienceKronos vertical success is driven by deep
industry knowledge and continued investments.
Kronos Proves Employee Engagement is Good for Business as
"WorkInspired" Hits Shelves
First Quarter Customer Success Around the GlobeIn the first
quarter of Fiscal 2019, Kronos signed agreements with organizations
around the world, including: Bluetree Group, the
fastest-growing print business in the U.K.; Burneys, artisan
bread maker for Warburtons, the largest bakery brand in the U.K.; Carinity,
a non-profit healthcare organization in Australia; City Beach, Australia's
biggest surf, skate, and fashion retailer; Elior Spain, one of
the leading operators in catering, concession catering, and support
services in Europe; El Paso County, one of the most populous
counties in Texas with more than 800,000 residents; Fletcher Building,
a New Zealand manufacturer and distributor of building materials and
residential and commercial construction with 20,000 employees in 40
countries; General Atomics Aeronautical Systems, Inc., a provider
of unmanned aerial vehicles and radar solutions for the U.S. military
and commercial applications worldwide; The Hongkong and Shanghai
Hotels, a hotel group in China with 10,000+ employees globally; Les
Ambassadeurs Club, one of London's most exclusive and distinguished
gaming establishments; Oji Fibres Solutions, a leading producer
of market pulp, paper, and fibre-based packaging in New Zealand; SummitCare,
a residential aged care, dementia-specific residential care, and other
aged care services provider in Australia; Sunac China, a top real
estate company listed on the Hong Kong Stock Exchange; Villa
Healthcare, a post-acute and long-term provider with 35 facilities
in Illinois, Michigan, Minnesota, Ohio, and Wisconsin.
About Kronos IncorporatedKronos is a leading provider of
workforce management and human capital management cloud solutions.
Kronos industry-centric workforce applications are purpose-built for
businesses, healthcare providers, educational institutions, and
government agencies of all sizes. Tens of thousands of organizations -
including half of the Fortune 1000® - and more than 40
million people in over 100 countries use Kronos every day. Visit www.kronos.com.
Kronos: Workforce Innovation That Works.
© 2019 Kronos Incorporated. All rights reserved. Kronos and the Kronos
logo are registered trademarks and Workforce Innovation That Works is a
registered trademark of Kronos Incorporated or a related company. See a
complete list of Kronos
trademarks. All other trademarks, if any, are property of their
Footnote 1: All financial information within this press release is
presented using non-GAAP financial measures. Kronos believes that
non-GAAP measures of financial results provide useful information
regarding certain financial and business trends relating to Kronos'
results of operations. Non-GAAP revenue consists of GAAP revenue
excluding the effect of the write-down of deferred revenue associated
with purchase accounting for certain acquisitions and includes timing
adjustments related to international product deliveries which management
includes when evaluating operating results. EBITDA consists of GAAP
income from operations excluding: (1) share-based compensation expense
for stock options and stock awards in accordance with ASC (News - Alert) 718 and
compensation expenses related to ordinary dividends; (2) depreciation of
property, plant, and equipment; (3) amortization of intangible assets;
(4) acquisition-related deferred revenue write-downs and expenses
including advisory, legal, accounting, acquired employee-related costs,
and integration costs; and (5) unusual costs or one-time expenses that
are excluded from the definition of EBITDA under the terms of the
company's Credit Agreement.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190204005531/en/
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