Boston, MA 05/05/2014 (wallstreetpr) – Calidus Software Inc. (NASDAQ:CALD) is one of the company in the cloud based segments that is well positioned for future growth in earnings, seen by impressive financial results for the first quarter. The company is already registering impressive growth metrics in the year at the back of reporting EPS growth of 63.6% last year. The first quarter ending March 31, 2014 marked another milestone for the cloud based company in terms revenue which clocked in at record margins.
Q1 Business highlights
The first quarter also marked another consecutive quarter that Calidus Software Inc. (NASDAQ:CALD) has reported growth in its Non-GAAP net income. Strong business for the quarter was driven by customers calling time on the latest expensive point solutions. The cloud space continues to provide one of the most profitable opportunities for investment as companies seek integrated marketing and sales.
The first quarter was a busy quarter for the cloud solution giant having acquired LeadRocket, Inc. a digital marketing and social engagement platform. The acquisition is expected to enhance the power of marketing automation to sales professionals. Calidus Cloud expanded to 25 new alliance partners with resellers including Docusign, Protiviti and WalkMe.
Financial highlights
Solid result for the quarter can be seen in the company’s revenue growing by 21% in the quarter to a high of $31 million with total recurring revenue coming in at $22.3 million. The company’s net operating loss reduced by more than half to a low of $2.1 million from a high of $5.6 million for the same quarter last year.
Cash generated from operations nearly doubled to $5.5 million compared to $2.8 million cash that was used for operating activities for the same quarter last year. Net income for the quarter came in at $1.3 million per diluted share compared to a net loss of $0.8 million for the same period last year.
Financial Outlook for Q2 and Full Year
Keeping up with momentum in growth registered in the first quarter, Calidus Software Inc. (NASDAQ:CALD) expects its first quarter revenue to come in the range of between $30.4 million and $31.4 million. Full year income should come in between $127.5 million and $132.5 million,an improvement from previously issued guidance of $126 million and $131 million.
