BEIJING, May 13 /PRNewswire-Asia/ -- Kronos(R) Incorporated today announced financial results, company advancements, and customer successes for the second quarter of Fiscal 2010. Kronos revenues for the quarter increased 10 percent year over year to $177.9 million. Earnings before interest, tax, and amortization (EBITA) increased 28 percent year over year to $41.3 million.(1)
"We had a fantastic second quarter made possible by all-around solid execution," said Aron Ain, Kronos chief executive officer. "The ongoing investments that we have been making in product innovation and global expansion helped us achieve our double-digit growth. We were pleased with our performance with new and existing customers in both our established and emerging markets, and experienced very strong performance in our key vertical segments. We are extremely well positioned as the pace of economic recovery quickens and organizations begin to invest for growth again."
Second Quarter News Facts
-- In the second quarter of Fiscal 2010, Kronos signed agreements with
organizations around the world such as: Boyd Gaming Corporation, a
leading diversified owner and operator of 16 gaming entertainment
properties; Clemson University, a public, coeducational, land-grant,
research university located in Clemson, S.C.; Con-Way, Inc., a
freight-transportation and logistics company; Ocean State Job Lot, an
American chain of approximately 90 discount stores operating in New
England; Onslow Memorial Hospital, a 162-bed acute care, community
hospital located in coastal North Carolina; Republic Services, Inc.,
provider of recycling and solid waste collection, transfer, and
disposal services in the U.S. and Puerto Rico; Regal Entertainment
Group, operator of the largest and most geographically diverse theatre
circuit in the U.S.; Southwest Airlines, the largest airline in the
world by number of passengers carried per year; Teach For America, the
national corps of outstanding recent college graduates who commit two
years to teach in urban and rural public schools and become lifelong
leaders in expanding educational opportunity; The Children's Place, a
leading specialty retailer of children's apparel and accessories for
children from newborn to age fourteen; Valitas Health Services, one of
the largest providers of clinical contract staffing and related
healthcare management services in the U.S.; WaWa, Inc., a chain of
more than 570 convenience stores in Pennsylvania, New Jersey, Delaware,
Maryland, and Virginia; Wilson Trucking Corporation, one of the
southeast's premier LTL service carriers; Winn-Dixie, operator of
supermarkets throughout the southeastern U.S. under the Winn-Dixie,
Winn-Dixie Marketplace, and SaveRite banners; Yum! Brands, Inc., the
world's largest restaurant company in terms of system restaurants with
more than 37,000 restaurants in more than 110 countries and
territories.
-- Vertical focus - Kronos' five vertical lines of business - retail and
hospitality; healthcare; services and distribution; manufacturing; and
public sector - all performed well during the quarter. As the business
climate improves, Kronos' ability to control labor costs, minimize
compliance risk, and improve labor productivity is resonating across
all lines of business.
-- Product innovation - Kronos met many major product development
milestones during the quarter. Kronos will deliver more new products
and product enhancements this year than in any previous year in the
company's history. The next generation of workforce management
solutions from Kronos is based on the idea that users can have it all
- deep functionality and great ease of use.
-- Global expansion - Kronos international operations had an
exceptionally strong quarter, as a result of investments the company
has made in global expansion over the past 24 months. Kronos continued
to experience above expectation results in Australia and the UK,
driven by additional orders from existing customers such as Carphone
Warehouse in the UK and new customer acquisitions such as BigW (part
of Woolworths Group), IKEA, and Star Track Express in Australia. Major
wins in China included a scheduling purchase by United Family
Hospitals and Clinics, one of the top healthcare service providers in
China.
-- Managed services momentum - Revenue derived from Kronos' managed
services line of business again exceeded expectations for the quarter
as organizations increasingly choose to rely on Kronos' expertise in
remotely managing and hosting their workforce management applications.
The number of customers who chose Kronos managed services offerings
increased four-fold over the same period last year.
-- Hiring solution momentum - During the quarter, Kronos processed 7.9
million applications resulting in 169,000 new hires. In addition,
Kronos rolled out its hiring solution to more than 5,045 new locations.
-- Expanding workforce - Kronos made several key executive hires
including a vice president of international operations and vice
president of human resources. In support of its aggressive growth
plans, Kronos has more than 150 job openings across all functional
departments in various regions around the world.
About Kronos Incorporated
Kronos is the global leader in workforce management solutions that enable organizations to control labor costs, minimize compliance risk, and improve workforce productivity. Tens of thousands of organizations in 60 countries - including more than half of the Fortune 1000(R) - use Kronos time and attendance, scheduling, absence management, HR and payroll, hiring, and labor analytics applications. To learn how Kronos uniquely delivers complete automation and high-quality information in an easy-to-use solution, visit http://www.kronos.com .
Footnote 1: Revenue excludes purchase accounting adjustments related to the company going private in June 2007 and its acquisitions since June 2007. EBITA excludes purchase accounting adjustments, FAS 123R charges, and non-recurring, unusual charges.
(C) 2010 Kronos Incorporated. Kronos is a registered trademark of Kronos Incorporated or a related company. All other trademarks are property of their respective owners.
