TMCNet:  CallidusCloud Q4 revenue up 12%

[February 11, 2013]

CallidusCloud Q4 revenue up 12%

Feb 11, 2013 (TELECOMWORLDWIRE via COMTEX) -- Callidus Software Inc. (NASDAQ: CALD) said total revenue was $25.2 million for the fourth quarter ended December 31, 2012, representing an increase of 12% compared to the same quarter last year.


Total recurring revenues, which include SaaS revenues and maintenance and support, were $18.5 million, up approximately 9% compared to the fourth quarter of 2011. SaaS revenues of $14.6 million were up 15%, while maintenance and support revenues of $3.9 million were down 9% as compared to the fourth quarter of 2011. Service and other revenues of $6.8 million were up 21% as compared to the same quarter of 2011 driven by the release of $1.2 million in deferred service revenue upon project acceptance.

Total GAAP gross margin was 46% for the fourth quarter up from 41% in the same quarter in 2011. Non-GAAP gross margin was 53% for the fourth quarter of 2012 up from 52% for the fourth quarter of 2011. Non-GAAP gross margin for the fourth quarter of 2012 excludes $717,000 of stock-based compensation expense, $535,000 in expenses to transfer India operations, and $535,000 of amortization of acquired intangibles.

Total revenue for the full fiscal year was $95.0 million, up 13% compared to $83.8 million in 2011. Total recurring revenues, which include SaaS revenues and maintenance and support, were $70.9 million, an increase of 13% from $63.0 million in 2011. SaaS revenues of $55.1 million were up 23%, while maintenance and support revenues of $15.8 million were down 12% as compared to 2011. Service and other revenues of $24.0 million were up 16% as compared to $20.8 million in 2011. Total GAAP gross margin was 47% for the full fiscal year, up from 40% in 2011.

Callidus Software, doing business as CallidusCloud, is a provider of cloud software. For more information, visit www.calliduscloud.com.

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