Callidus Software (CALD) Expects Q3 FY2013 Financial Results Will Exceed Previous Guidance, Shares Surged
Callidus Software Inc. (NASDAQ: CALD)
Shares of CALD surged on Wednesday after the company reported that based on preliminary, unaudited financial results it expects to report Q3 FY2013 financial performance that exceeds the high end of its previously issued revenue guidance.
Based upon Q3 performance, CALD's management now expects full-year 2013 revenue to be $108.5 to $109.5 million as compared to previous full-year guidance of $106.0 to $109.0 million.
For the Q3 ended September 30, 2013 CALD's management expects:
* Record total revenue in the range of $28.5 million to $29.0 million. CALD had previously provided guidance for Q3 FY2013 revenue of $26.0 million to $27.0 million.
* SaaS revenue growth of 22% to 25% year over year.
* SaaS billings growth of 32% to 35% year over year.
* All time record SaaS bookings including two 7-figure annual contracts.
* Closed two 7-figure license deals during the quarter, which are included in revenue for the quarter.
* Positive cash flow from operations.
CALD last trade was at $9.93, up $1.33 or 15.47%, with volume of 3,210,814 shares traded.
CALD is the leading provider of sales and marketing effectiveness software. CALD enables organizations to accelerate and maximize their lead to money process with their complete suite of solutions that identify the right leads, ensure proper territory and quota distribution, enable sales forces, automate quote and proposal generation, and streamline sales compensation -- driving bigger deals, faster.
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