ClickSoftware Posts Lower 4th-quarter Profit

BURLINGTON, Mass. (AP) - Business software company ClickSoftware Technologies Ltd. said Wednesday its profit fell 58 percent due in part to higher expenses.

The company based in Israel and the U.S. reported net income fell to $1.6 million, or 5 cents a share, for the three months ended Dec. 31. That compares with net income of $3.8 million, or 12 cents a share, in the prior-year quarter.

Excluding compensation expenses and other special items, ClickSoftware's earnings amounted to $2.2 million, or 7 cents a share, the company said.

The results missed analysts' consensus forecast for earnings of 9 cents a share, according to FactSet.

Revenue increased 8 percent to $18.5 million from $17.2 million in the prior-year period. Analysts had expected revenue of $18 million.

The company said software license revenue for the quarter rose 22 percent to $6.8 million, while service and maintenance revenue inched up 1 percent to $11.7 million.

For the full year, the company reported a profit of about $9 million, or 28 cents a share, compared with net income of $12.5 million, or 40 cents a share, in 2009. Revenue rose to $71 million from $61.1 million the year before.

Shares slipped 3 cents to $7.55 in aftermarket trading after falling 29 cents, or 3.7 percent, to $7.58 during the regular session.