;
Home / Knowledge / News / Information Technology / Kronos surpasses $1bn in annual revenue
Kronos surpasses $1bn in annual revenue
08
May '14
Kronos Incorporated announced that it has surpassed $1 billion in annual revenue. Breaking the $1 billion threshold comes weeks after Blackstone and GIC invested in Kronos alongside original investors Hellman & Friedman and JMI Equity in a transaction which valued the company at $4.5 billion.
 
"Kronos is delighted to join the exclusive group of software companies that have grown beyond $1 billion in annual revenue and the first vendor to do so in the workforce management market. Through innovation and focus on delivering tangible value to our customers, we are now a global enterprise software company with a significant cloud footprint," said Aron Ain, Kronos chief executive officer.
 
"With our amazing 3,800+ employees; diverse customer base; and the significant investments we are making in the cloud, vertical market expertise, global expansion, and our award-winning products, our future have never been brighter."
 
Second-Quarter Financial Results and News Facts
In addition to announcing its $1 billion revenue achievement, Kronos also announced financial results, company advancements, and customer successes for the second quarter of Fiscal 2014. Kronos revenue for the quarter increased to $248.7 million. Earnings before interest, tax, depreciation, and amortization (EBITDA) increased to $80.5 million. 
 
Kronos' continued momentum is being fueled by:
Tremendous growth of the Kronos Cloud - The Kronos Cloud is experiencing significant growth across all market segments. The fastest-growing aspect of the business, workforce management cloud revenue increased 56 percent and bookings increased 72 percent during the quarter. More than 60 percent of new customers selected from an array of Kronos Cloud offerings, bringing the total number of organizations leveraging the Kronos Cloud to more than 11,000.
 
Vertical expertise - Kronos experienced strong momentum across targeted vertical segments - including retail and hospitality, healthcare, services and distribution, manufacturing, and the public sector. The manufacturing sector was particularly strong having its best-ever quarterly performance and growing product bookings 60 percent.
 
Global market leadership - Deployed in more than 100 countries, Kronos remains the world's leading supplier of workforce management solutions. Ventana Research named Kronos the top "Hot" vendor in workforce management, recognizing the latest version of the company's Workforce Central suite in terms of capability, reliability, cost of ownership, and return on investment. 
 
Rapid pace of innovation - Recent innovations in Kronos workforce management solutions drove a strong double-digit increase in product bookings during the quarter.
 
Click here to view full results.
 

Kronos


Must ReadView All

Global yarn production up in Q2/18; fabric dips slightly

Textiles | On 10th Dec 2018

Global yarn production up in Q2/18; fabric dips slightly

Global yarn production increased by 5 per cent between Q1/18 and...

Courtesy: Intertextile shanghai hometextiles

Textiles | On 10th Dec 2018

Intertextile Shanghai Home expects 200 suppliers

Around 200 suppliers from China and other countries will display...

Courtesy: Rakez

Textiles | On 10th Dec 2018

Over 50 Indian firms eyeing operations in UAE's RAKEZ

Over 50 Indian firms are interested in expanding operations in Ras Al ...

Interviews View All

Karel Williams, Dow Microbial Control

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Poojaa Kumar Deepak, Zeven

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Top executives, Textile industry

Top executives
Textile industry

GST has levelled the playing field to an extent

Milva Morani,

Milva Morani

Brighi Technologies began in 1970 with trading and repairing sewing...

Sham Shah,

Sham Shah

Shamal and Shamal Pvt Ltd is into manufacturing and sales of textile...

Rajat Jaipuria,

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions & Vertriebs Gmbh, founded in 1978 and headquartered ...

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


December 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search