1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies

Callidus Software Inc. Reports Operating Results (10-Q)

August 08, 2011 | About:

Callidus Software Inc. (NASDAQ:CALD) filed Quarterly Report for the period ended 2011-06-30.

Callidus Software Inc. has a market cap of $157.98 million; its shares were traded at around $4.68 with and P/S ratio of 2.23. Callidus Software Inc. had an annual average earning growth of 4.3% over the past 5 years.

Highlight of Business Operations:

During the second quarter of 2011 we grew our recurring revenues to a record level of $15.4 million, an increase of $2.1 million, or 16% from the same period of the prior year, and an increase of $0.6 million, or 4% sequentially. We grew our on-demand subscription and term-based license revenues in the second quarter of 2011 by $2.5 million, or 30% to $10.8 million, compared to $8.3 million in the second quarter of 2010, and by 8% from $10.0 million in the first quarter of 2011. As a percentage of total revenues, recurring revenues accounted for 75% and 77% for the three months ended June 30, 2011 and June 30, 2010, respectively. We expect recurring revenues to run at approximately 75% of total revenues through 2011.Total revenues for the first six months of 2011 were $40.2 million, an increase of $6.9 million or 21% over the same period of the prior year. We now have reported six consecutive quarters of revenue growth including the second quarter of 2011.

As a result of higher gross profits and a continued focus on cost control we have maintained our trend of non-GAAP operating profit. Our non-GAAP operating profit for the second quarter was $0.3 million and on a year-to-date basis we have recorded $1.0 million in non-GAAP operating profit compared to a non-GAAP operating loss of $5.3 million for the same period last year. Please see GAAP to non-GAAP operating profitability reconciliation below.

On June 10, 2011, we completed and acquisition of Litmos Limited, a New Zealand corporation, who is a leading provider of SaaS based learning management solutions. Under the terms of the agreement, we paid $2.6 million in cash. In addition, we may pay up to $600,000 in cash on the one year anniversary of the transaction, subject to certain terms and conditions.

On February 25, 2011, we completed the acquisition of ForceLogix, Inc., a SaaS provider of coaching and talent optimization solutions. Under the terms of the agreement, we paid $3.0 million in cash. In addition, we may pay up to approximately $750,000 in cash on August 25, 2011 subject to certain terms and conditions.

Read the The complete Report

About the author:

Charlie Tian, Ph.D. - Founder of GuruFocus. You can now order his book Invest Like a Guru on Amazon.

Rating: 0.0/5 (0 votes)


Please leave your comment:

GuruFocus has detected 4 Warning Signs with Callidus Software Inc $CALD.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.

Performances of the stocks mentioned by 10qk

User Generated Screeners

HattcoSymonds PB2PE12EV8
pbarker46Begin here 1
MisterTIndustry Selection
maurits_halimEPS Growth >20% (UK)
DBrizan2017sep19 Qcom Gild beater
alberto.lopezblancoPI / PTB
Jeremieroyspinoffs + insiders
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)

GF Chat