(RTTNews) - Mobile workforce management and service optimization solutions provider ClickSoftware Technologies Ltd. (CKSW: News ), Wednesday, posted a higher third-quarter profit, which beat analysts' estimates, reflecting a 6% growth in revenues. The company also expects up to 14.1% revenue growth for the fourth quarter.

The Burlington, Massachusetts-headquartered company's net income for the quarter increased to $3.2 million or $0.10 per share from $2.7 million or $0.09 per share for the same period last year.

Excluding one-time items, earnings were $3.6 million or $0.11 per share compared with $2.9 million or $0.10 per share for the year-ago period.

On average, three analysts polled by Thomson Reuters expected the company to report earnings of $0.08 per share for the third quarter. Analysts estimates typically exclude special items.

Total revenues for the third quarter increased to $16.6 million from $15.7 million for the year-ago period. Three analysts had a consensus revenue estimate of $15.40 million for the September quarter.

Software license revenues decreased to $5.4 million from $7.2 million, while Services revenues increased to $11.2 million from $8.5 million.
Commenting on the results, Moshe BenBassat, ClickSoftware's Chairman and CEO said, "The third quarter was another strong quarter for ClickSoftware with record revenues and operating profit, and considerable growth in cash. Taking a longer term view, since the end of the third quarter of 2008, shareholders' equity has grown by 87%."

For the nine months ended September 30, net income rose to $8.7 million or $0.28 per share from $3.1 million or $0.11 per share for the same period in 2008. Excluding one-time items, earnings for the period were $9.2 million or $0.30 per share compared with $3.7 million or $0.13 per share for the prior-year period. Total revenues for the period increased to $43.9 million from $38.1 million year-over-year.

Looking ahead, ClickSoftware currently expects fourth-quarter revenues of $16.0 million - $16.7 million, representing 13.5% - 14.1% growth over the same quarter last year. The company also sees fiscal 2009 revenues to the range between $60.0 million and $60.7 million, representing an year-over-year annual growth of 14.7% - 16.1%.

Tuesday, CKSW closed regular trading session at $7.69 on the Nasdaq.

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by RTT Staff Writer

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