|By Business Wire||
|November 12, 2012 12:00 PM EST||
Kronos Incorporated today announced financial results, company advancements, and customer successes for Fiscal 2012 which closed Sept. 30. Kronos revenues for the fiscal year increased 9 percent to $870 million. Earnings before interest, tax, depreciation, and amortization (EBITDA) increased to $266 million.1
“We are thrilled with our company’s financial performance. We are growing across all strategic aspects of our business – in the cloud, through product innovation, in the small and midsize business market, in the enterprise market, across our targeted vertical industries, and globally,” said Aron Ain, Kronos chief executive officer. “As we celebrate 35 years of innovation, we reflect upon our accomplishments – and, more importantly – look ahead toward a continued aggressive growth trajectory. As the pace-setter and game-changer in the workforce management market, we will continue to deliver exceptional value to customers around the globe.”
Fourth Quarter News Facts
- In the last quarter of Fiscal 2012, Kronos signed agreements with organizations around the world such as: CBS Interactive China, the largest vertical media group in China; Celadon Group, Inc., one of North America’s leading transportation companies; City of Tulsa, the second-largest city in the state of Oklahoma; Clemson University, a major land-grant, science- and engineering-oriented research university that maintains a strong commitment to teaching and student success; ESCO Corporation, a leading independent designer, manufacturer, and provider of highly engineered wear parts and replacement products used in mining, infrastructure development, power generation, aerospace and industrial applications; Gate Gourmet, the world’s largest independent provider of catering and provisioning services for airlines and railroads; Jerry’s Enterprises, Inc., an operator of Jerry’s Foods, County Market, Cub Foods, and Save-a-Lot grocery stores; RaceTrac Petroleum, Inc., operator of a chain of convenience stores across the Southern U.S.; Rail Corporation New South Wales (RailCorp), Australian-provider of metropolitan passenger rail services; Renault-Nissan Automotive India, the India subsidiary of Renault-Nissan; Supermercados Peruanos, the second-largest supermarket and hypermarket chain in Peru; Takshasila Healthcare, a joint venture between Kirloskar, Secom, and Toyota Tsusho of Japan; The Medical University of South Carolina, the oldest medical school in the Southern U.S.; The Pentagon Force Protection Agency, a civilian defense agency within the U.S. Department of Defense; The YMCA of Greater Charlotte, a United Way member agency comprised of 19 branches and 2 resident camps; University College London Hospitals NHS Foundation Trust (UCLH), one of the largest NHS Trusts in the U.K. that provides first-class acute and specialist services in seven hospitals in London; York Region Police, one of the largest law enforcement organizations in the Greater Toronto area serving 1.1 million residents; and YRC Worldwide Ind., a Fortune 500 company headquartered in Overland Park, Kan., the holding company for a portfolio of brands including YRC Freight, YRC Reimer, Holland, Reddaway, and New Penn.
Fiscal 2012 News Facts
Growth in the Cloud
- More than 6,000 organizations are now successfully deployed in the Kronos Cloud. Kronos Cloud generates a fast return on investment while alleviating the need to invest in and manage additional infrastructure and staff. By choosing the Kronos Cloud, organizations free their staff to focus on other business objectives. Kronos now offers Workforce Central® in the Kronos Cloud for medium and large enterprises and Workforce Ready™ in the Kronos Cloud for small and midsize businesses.
Growth Through Product Innovation
- Workforce Central – Latest version (Workforce Central 6.3) balances rich functionality with unprecedented ease-of-use and includes innovative new features and consumer-driven enhancements to meet the needs of global customers, further improve usability, and expand functionality for absence management and scheduling.
- Kronos InTouch™ – Revolutionary time clock built for the modern workforce, Kronos InTouch delivers an unrivaled user experience; seamless integration to check accrual balances, request time off, and view schedules; a cloud-based architecture; and the first and only application platform devoted to improving productivity of the frontline workforce.
- Workforce Mobile™ – Latest version of Kronos’ award-winning mobile applications enables organizations to improve productivity by making it easier for managers and employees to complete a wide range of workforce-related tasks using a variety of mobile devices. Enhancements include MobileViews, enabling the writing of custom applications; advanced labor detail functionality; barcode scanning capabilities; simplified timecard approvals; and GPS data collection.
- Workforce Analytics™ – Enhanced labor analytics solution enables organizations to easily access and leverage their workforce data to identify, predict, and manage opportunities for cost savings and productivity gains. Vertical-specific analytics applications include real-time visibility into workforce and operational issues so concerns about labor costs and workforce needs can be addressed immediately; an intuitive, graphical management dashboard; sophisticated security features that provide personalized intelligence; and interoperability with an organization’s existing business intelligence tool.
- TeleStaff™ – Latest version of the Kronos TeleStaff public safety scheduling and notification solution includes enhancements that allow deployment on Microsoft SQL; new shift-bidding statuses enabling employees to view and monitor the status of their bids for shifts; and advanced reporting features.
- Workforce Tablet™ – Today at KronosWorks, Kronos announced availability of Workforce Tablet, a sleek, easy-to-use tablet app that delivers real-time, location-specific workforce information to frontline managers so they can more effectively manage in the moment.
- Workforce Task Management™ – Today at KronosWorks, Kronos announced availability of Workforce Task Management, a solution that simplifies store execution by providing end-users with a streamlined approach to create, approve, execute, and verify tasks. This drives productivity by streamlining communication between corporate and stores as well as increases sales and customer satisfaction by ensuring tasks are completed on time and consistently across locations.
Growth in Small and Midsize Business (SMB) Market
- SaaShr™ acquisition – By acquiring SaaShr.com, Kronos significantly broadened its product portfolio and gained access to an extensive network of partners and resellers. SaaShr offers a software-as-a-service (SaaS) workforce management suite for SMBs. Through its well-established network of payroll service bureaus, professional employer organizations, human resources outsourcers, and value-added resellers, SaaShr’s solutions are used in thousands of organizations across a wide variety of industries. Built from the ground up to operate in the cloud, SaaShr’s multi-tenant architecture delivers a consistent user experience across its suite of time and attendance, human resources, and payroll applications.
- Workforce Ready – Accelerating its cloud strategy, Kronos delivered a new suite of workforce management solutions for SMBs. Built from the ground up and designed to run in the cloud with its hosted multi-tenant architecture, Workforce Ready shares a common technology platform for time and attendance, human resources, and payroll applications; a universal employee record; and single user interface across its entire suite of applications.
Growth in Enterprise Market and Targeted Vertical Industries
- Large enterprise deployments – Kronos booked its greatest-ever number of large orders in excess of $1 million. Kronos’ vertical-specific expertise and the company’s innovative product offerings are often cited as top reasons these organizations selected Kronos. These large transactions included significant orders from new and existing customers including one of the top ten largest discount retailers; a global warehouse retailer; a leading international hotel chain; one of the largest, most comprehensive less-than-truckload networks in North America; the second-largest chicken producer in the world; a leading provider of emergency medical services in the U.S.; and one of the top 25 national public universities.
- OptiLink™ acquisition – Accelerates Kronos healthcare workforce management leadership by adding an industry-leading acuity-based staffing solution, OptiLink, to its workforce management suite. Kronos now offers the most advanced, clinically focused workforce management suite to help healthcare organizations deliver high-quality patient care.
- SMART™ acquisition – Supporting its aggressive international growth strategy and strengthening its presence in the Europe, Middle East, and Africa (EMEA) region, Kronos acquired U.K.-based SMART Computer Holdings and its Spanish affiliate SMART Human Logistics. As a result, Kronos now offers the leading workforce management solution for National Health Service (NHS) organizations in the U.K., and established a physical presence in Spain.
- Reseller agreements – Kronos extended its reach in the Middle East through reseller agreements with Health Matrix Corporation and OCSHI, providers of technology solutions to the healthcare sector, delivering an enhanced distribution network in the region, as well as local knowledge and support for new healthcare customer deployments. In addition, Kronos extended its reach in the India market through a strategic alliance with Qimpro, leveraging the company’s leadership in consulting to drive workforce transformation in India.
- Support for Multinationals – With deployments in more than 100 countries, Kronos is proficient at supporting large multinational organizations. Kronos accommodates a vast array of region-specific pay rules, bringing ease to the highly complex task of paying employees around the world. Multinationals are increasingly choosing Kronos for its global expertise and global product capabilities.
- 35 Years of Innovation – In October, Kronos celebrated 35 years of innovation. Since its founding in 1977, the company has grown to be the global leader in the workforce management software market.
- Connect with Kronos via Facebook, Twitter, Google+, LinkedIn, and YouTube.
- Subscribe to our workforce management blogs.
- Take a look at the lighter side of workforce management in our Time Well Spent cartoons.
About Kronos Incorporated
Kronos is the global leader in delivering workforce management solutions in the cloud. Tens of thousands of organizations in more than 100 countries — including more than half of the Fortune 1000® — use Kronos to control labor costs, minimize compliance risk, and improve workforce productivity. Learn more about Kronos industry-specific time and attendance, scheduling, absence management, HR and payroll, hiring, and labor analytics applications at www.kronos.com. Kronos: Workforce Innovation That Works™.
© 2012 Kronos Incorporated. All rights reserved. Kronos and Workforce Central are registered trademarks and Workforce Ready, InTouch, Workforce Mobile, Workforce Analytics, TeleStaff, Workforce Tablet, Workforce Task Management, SaaShr, OptiLink, and SMART are trademarks of Kronos Incorporated or a related company. All other trademarks are property of their respective owners.
Footnote: This press release contains non-GAAP financial measures. Kronos believes that non-GAAP measures of financial results provide useful information regarding certain financial and business trends relating to Kronos’ results of operations. Non-GAAP revenue consists of GAAP revenue excluding the effect of: (1) the write-down of deferred revenue associated with purchase accounting for certain acquisitions. EBITDA consists of GAAP income from operations excluding: (1) share-based compensation expense for stock options and stock awards in accordance with ASC 718; (2) amortization of capitalized software development costs (3) depreciation of property, plant and equipment; (4) amortization of acquired intangible assets; (5) acquisition-related expenses including advisory, legal, accounting, acquired employee-related costs, and integration costs; and (6) consulting expenses that are excluded from the definition of EBITDA under the terms of the Company’s Credit Agreement.
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
Sep. 28, 2016 02:45 PM EDT Reads: 1,735
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Sep. 28, 2016 02:30 PM EDT Reads: 2,916
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
Sep. 28, 2016 02:30 PM EDT Reads: 3,281
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Sep. 28, 2016 02:00 PM EDT Reads: 4,411
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lea...
Sep. 28, 2016 01:57 PM EDT Reads: 170
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
Sep. 28, 2016 01:23 PM EDT Reads: 200
Businesses are struggling to manage the information flow and interactions between all of these new devices and things jumping on their network, and the apps and IT systems they control. The data businesses gather is only helpful if they can do something with it. In his session at @ThingsExpo, Chris Witeck, Principal Technology Strategist at Citrix, will discuss how different the impact of IoT will be for large businesses, expanding how IoT will allow large organizations to make their legacy ap...
Sep. 28, 2016 01:00 PM EDT Reads: 147
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, will discuss how VPaaS enables you to move fast, creating scalable video experiences that reach your...
Sep. 28, 2016 01:00 PM EDT Reads: 1,104
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Sep. 28, 2016 01:00 PM EDT Reads: 3,546
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Sep. 28, 2016 12:30 PM EDT Reads: 4,111
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Sep. 28, 2016 12:30 PM EDT Reads: 1,043
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Sep. 28, 2016 12:30 PM EDT Reads: 5,098
One of biggest questions about Big Data is “How do we harness all that information for business use quickly and effectively?” Geographic Information Systems (GIS) or spatial technology is about more than making maps, but adding critical context and meaning to data of all types, coming from all different channels – even sensors. In his session at @ThingsExpo, William (Bill) Meehan, director of utility solutions for Esri, will take a closer look at the current state of spatial technology and ar...
Sep. 28, 2016 12:20 PM EDT Reads: 194
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...
Sep. 28, 2016 12:00 PM EDT Reads: 1,658
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Sep. 28, 2016 12:00 PM EDT Reads: 2,278
What are the new priorities for the connected business? First: businesses need to think differently about the types of connections they will need to make – these span well beyond the traditional app to app into more modern forms of integration including SaaS integrations, mobile integrations, APIs, device integration and Big Data integration. It’s important these are unified together vs. doing them all piecemeal. Second, these types of connections need to be simple to design, adapt and configure...
Sep. 28, 2016 11:49 AM EDT Reads: 281
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Sep. 28, 2016 11:45 AM EDT Reads: 3,090
Is your aging software platform suffering from technical debt while the market changes and demands new solutions at a faster clip? It’s a bold move, but you might consider walking away from your core platform and starting fresh. ReadyTalk did exactly that. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue and over a decade of audio conferencing product development to start an innovati...
Sep. 28, 2016 11:45 AM EDT Reads: 2,093
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Sep. 28, 2016 11:30 AM EDT Reads: 2,858
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
Sep. 28, 2016 11:21 AM EDT Reads: 186