Kronos Announces First-Quarter Customer Successes
Organizations turn to Kronos to manage their greatest and most expensive asset: the workforce
2009-02-04
CHELMSFORD, Mass., Feb. 4, 2009 — Kronos® Incorporated today announced financial results and customer successes for the first quarter of Fiscal 2009. Kronos revenues for the quarter were $159.8 million. Earnings before interest, tax, and amortization (EBITA) were $24.6 million.1
"Despite what has become an extremely difficult selling environment, we secured agreements with hundreds of organizations during our first quarter," commented Aron Ain, Kronos chief executive officer. "We help organizations of all sizes manage their greatest strategic asset and greatest expense: their workforce. Organizations continue to invest because we give them the tools and intelligence they need to control labor costs, minimize compliance risk, and improve workforce productivity — all of which are critically important in tough economic times."
First-quarter customer agreements
Kronos time and attendance, scheduling, absence management, HR and payroll, hiring, and labor analytics applications give customers the edge they need to compete in the global marketplace. In the first quarter of Fiscal 2009, Kronos signed agreements with organizations around the world such as: Atlanta Public Schools, one of the top-performing urban school systems in America; Best Buy, a multinational retailer of technology and entertainment products and services; CHRISTUS Health, a not-for-profit health system comprised of more than 40 hospitals; Cinemark Holdings, a leader in the motion picture exhibition industry; The Co-operative Group, the UK's largest mutual retailer; Delaware North Companies, one of the world's leading hospitality and food service providers; Grady Health System, one of the largest public hospitals in the U.S.; Hannaford Bros. Supermarkets, a large East Coast grocer operating 167 stores; JAMBA JUICE, the leading blender of fruit and other naturally healthy ingredients; John Muir Health, a healthcare community in Contra Costa County, Calif.; Kaleida Health, an acute care health system based in Buffalo, NY; KapStone Paper and Packaging, a leading North American producer of kraft paper, linerboard, uncoated folding carton board and saturating kraft paper; K-VA-T Food Stores, Inc., among the nation's 50 largest supermarket chains; Life Time Fitness, operator of athletic, professional fitness, family recreation, and resort and spa centers; Love's Travel Stops & Country Stores, convenience store chain with more than 200 locations in 30 states; MTA Metro-North Railroad, one of the nation's preeminent railroads; McDermott International, a global engineering and construction company; Montgomery County in Maryland; Morris County in New Jersey; Rock Bottom Breweries, a U.S. restaurant chain; Ross Dress for Less, one of the nation's largest off-price retailers; Seminole Tribe of Florida, a tribal organization; Tampa General Hospital, a health system in Central Florida; and The University of Kentucky, a public University in Lexington, Ky.
Product innovation and future outlook
Kronos continues to actively invest in its business, particularly in the area of product development. "We realize that customers face new challenges as a result of the economic uncertainty," continued Ain. "We're responding by providing new solutions to meet these challenges."
The latest release of the Kronos Workforce Central® suite — slated to ship this quarter — is designed to significantly simplify the complexities of managing the workforce. Workforce Central 6.1 includes hundreds of features and ease-of-use enhancements. Customers involved in development and testing have commented on how the latest release provides complete automation without the need for expensive customization. The suite provides high-quality information that is granular, real-time, and comprehensive to support quality decisions. And the solution is easy to own, allowing Kronos customers to get up and running fast at a low cost.
In addition, Kronos will soon ship the latest version of its Workforce Acquisition™ selection and hiring application. Workforce Acquisition 8.4 extends features for hiring hourly workers and provides new reporting for recruiters who are tasked with filling salaried positions. New functionality has been added to support hiring in the UK, and the release offers the next generation of the Kronos Frontline Healthcare Assessment, built to screen for frontline positions in long-term care.
"Our products offer the most competitive and complete solution available for managing the workforce. The value that we offer is significant, and the experience and skill of our workforce is unmatched," concluded Ain. "We remain focused on our objectives of expanding globally and continuing our leadership in workforce management and hiring solutions. Based on these attributes and our determination to be successful, we believe we are positioned to accelerate growth when the economic climate improves."
About Kronos Incorporated
Kronos Incorporated empowers organizations around the world to effectively manage their workforce. At Kronos, we are experts who are solely focused on delivering software and services that enable organizations to reduce costs, increase productivity, improve employee satisfaction, and ultimately enhance the level of service they provide. Kronos serves customers in more than 60 countries through its network of offices, subsidiaries, and distributors. Widely recognized as a market and thought leader in managing the workforce, Kronos has unrivaled reach with more than 30 million people using a Kronos solution every day. Learn more about Kronos at www.kronos.com.
Note: As of June 2007, Kronos is a private company.
© 2009 Kronos Incorporated. Kronos, Workforce Central, and the Kronos logo are registered trademarks and Workforce Acquisition is a trademark of Kronos Incorporated or a related company. All other product and company names mentioned are used for identification purposes only and may be trademarks of their respective owners.
Footnote 1: Revenue excludes purchase accounting adjustments related to the company going private in June 2007 and its acquisition of Unicru and Captor businesses in 2006 and 2007. EBITA excludes purchase accounting adjustments, FAS 123R charges, and non-recurring one-time charges.