Kronos Q1 FY14 EBITDA hikes 18%

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Kronos Q1 FY14 EBITDA hikes 18%

06
Feb '14

Kronos Incorporated announced financial results, company advancements, and customer successes for the first quarter of Fiscal 2014. Kronos revenue for the quarter increased 9 percent to $243.4 million. Earnings before interest, tax, depreciation, and amortization (EBITDA) increased 18 percent to $78.7 million.

"Kronos experienced a tremendous start to Fiscal 2014, with superior execution across our global operation," said Aron Ain, Kronos chief executive officer. "The significant investments we have been making in key strategic areas — such as bringing unprecedented innovation and ease of use to workforce management applications; extending our Kronos Cloud solutions; continuing to expand our deep vertical market expertise; expanding our SMB offerings; and further bolstering our global product capabilities — are clearly making a difference for our customers every day.

Kronos will soon celebrate crossing the exclusive $1 billion revenue mark as we continue our journey of strong growth as the undisputed leader and pace-setter in the global workforce management market."

First-Quarter News Facts

Explosive growth of the Kronos Cloud — Kronos workforce management cloud revenue increased 137 percent as new customers continued to choose the Kronos Cloud and existing customers accelerated the move of their on-premise instances to the Kronos Cloud.

As the fastest-growing aspect of the company's business, the Kronos Cloud is experiencing significant expansion across all targeted vertical markets in both the enterprise as well as small and midsize business (SMB) segments. Kronos continues to aggressively invest in its cloud infrastructure in anticipation of even more rapid growth as organizations continue to embrace cloud computing. Today nearly 10,000 distinct organizations leverage the Kronos Cloud.

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