Callidus Software Inc. (CALD) saw its loss widen to $4.80 million, or $0.08 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $2.14 million, or $0.04 a share. On the other hand, adjusted net income for the quarter stood at $5.39 million, or $0.08 a share compared with $4.38 million or $0.08 a share, a year ago.
Revenue during the quarter grew 19.87 percent to $56.08 million from $46.78 million in the previous year period. Gross margin for the quarter contracted 110 basis points over the previous year period to 62.18 percent. Operating margin for the quarter stood at negative 7.52 percent as compared to a negative 3.79 percent for the previous year period.
Operating loss for the quarter was $4.22 million, compared with an operating loss of $1.77 million in the previous year period.
However, the adjusted operating income for the quarter stood at $5.76 million compared to $4.74 million in the prior year period. At the same time, adjusted operating margin improved 14 basis points in the quarter to 10.27 percent from 10.14 percent in the last year period.
"Q4 was a super finish to 2016, with another year of over 30% SaaS revenue growth. We surpassed our previous bookings record in the quarter, signing some major enterprise customers and set a new record for new business signings. I believe we are well positioned for 2017 with strong demand, a larger than ever sales force and the best product portfolio to help customers sell more, faster," said Leslie Stretch, president and chief executive officer, CallidusCloud.
For fiscal year 2017, Callidus Software Inc. expects revenue to be in the range of $240.50 million to $246.50 million. The company expects operating loss to be in the range of $21.50 million to $23 million. The company expects adjusted operating income to be in the range of $21 million to $23.50 million.
For the first-quarter 2017, Callidus Software Inc. expects revenue to be in the range of $56.40 million to $57.40 The company expects operating loss to be in the range of $6.30 million to $6.80 million. The company expects adjusted operating income to be in the range of $3.50 million to $4.50 million.
Operating cash flow improves
Callidus Software Inc. has generated cash of $29.78 million from operating activities during the year, up 12.51 percent or $3.31 million, when compared with the last year.
The company has spent $59.10 million cash to meet investing activities during the year as against cash outgo of $35.68 million in the last year.
Cash flow from financing activities was $100.80 million for the year, up 91.66 percent or $48.21 million, when compared with the last year.
Cash and cash equivalents stood at $148.01 million as on Dec. 31, 2016, up 91.64 percent or $70.78 million from $77.23 million on Dec. 31, 2015.
Working capital increases sharply
Callidus Software Inc. has recorded an increase in the working capital over the last year. It stood at $124.72 million as at Dec. 31, 2016, up 148.22 percent or $74.48 million from $50.25 million on Dec. 31, 2015. Current ratio was at 1.92 as on Dec. 31, 2016, up from 1.49 on Dec. 31, 2015.
Days sales outstanding went up to 45 days for the quarter compared with 43 days for the same period last year.
At the same time, days payable outstanding went down to 8 days for the quarter from 10 for the same period last year.
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