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February 1, 2008 |
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KRONOS INC: Discloses New Trails in Workforce Management Kronos(R) Incorporated is redefining how organizations large and small manage their workforce. Organizations across a broad spectrum of industries are choosing Kronos for its proven ability to reduce costs, increase productivity, improve employee satisfaction, and ultimately enhance the level of service they provide. According to a report published this month by AMR Research, "After streamlining and automating ERP and the supply chain, one of the last major business process frontiers left for optimization is the lifecycle of employee engagement. Many organizations are realizing their people are the source of the innovation they seek for competitive advantage, yet they have neglected and isolated the procedures, policies, and processes to attract and retain them." As testament to the potential of this major business process frontier, during the first quarter of Fiscal 2008, Kronos secured and/or renewed contracts with organizations around the world such as: * Aramark China, provider of food, hospitality, facility management services, and high-quality uniform and work apparel * Cardinal Health System, a regional integrated network providing a full range of health services * Costco, the largest wholesale club operator in the U.S. * George Weston Foods, one of Australia's largest food manufacturers * The Golden Nugget, a luxury casino and resort on Fremont Street in Las Vegas * Gottschalks, a regional department store chain in California * Gundersen Lutheran Health System, one of the campuses for the University of Wisconsin-Madison Medical School and School of Nursing * Hortimax, a leading provider of solutions for professional greenhouse companies worldwide * IKEA, leading home furnishing retailer * Jamba Juice, leader in healthy blended beverages, juices, and good-for-you snacks * Northwestern University, one of the leading universities in the U.S. * Sheetz, one of the U.S.'s fastest-growing family-owned and operated convenience store chains * Wesley Mission Brisbane, provider of innovative and quality aged care services in Australia * Winegardner & Hammons, a full-service hotel management company Once again extending its impressive record of revenue growth and profitability, first quarter Fiscal 2008 revenues grew to US$165.2 million. Earnings before interest, tax, and amortization rose 22 percent to US$23.3 million. Kronos' first quarter Fiscal 2008 results mark the company's 112th consecutive quarter of year-over-year revenue growth and 83rd consecutive quarter of EBITA profitability. "Organizations choose Kronos because of our deep-rooted expertise in managing the workforce. With tens of thousands of customers, we have more experience solving workforce-related challenges than many other vendors combined. In fact, during the quarter, we celebrated our 30th anniversary in business," said Aron Ain, Kronos chief executive officer. "But we're not resting on our laurels. This year, we will build upon our undisputed market leadership in workforce management. We're off to a great start, having already shipped nearly three million Workforce Central(R) 6 employee licenses since the suite became available in June. This year, in the area of talent management, we will help organizations with a high concentration of field-based employees to recruit and retain a high-quality workforce. To that end, we extended our market-leading position in the first quarter by acquiring Deploy Solutions. Our third strategic goal is to continue our global expansion by targeting new markets and serving the workforce management needs of multinational organizations. We're pleased to report that our first quarter international sales reached an all-time high." Headquartered in Chelmsford, Mass., Kronos Inc. -- http://www.kronos.com/ -- provides a suite of solutions that automate employee-centric processes, as well as tools to optimize the workforce. It provides workforce management software, including time and attendance software and talent management (recruiting) software. The company offers its products primarily in the United States, Canada, Mexico, the United Kingdom, Australia, and New Zealand. The company posts about US$617 million of revenues for the twelve months ended March 31, 2007. As reported in the Troubled Company Reporter-Latin America on May 18, 2007, Moody's Investors Service assigned Kronos, Inc. a first time B2 corporate family rating and a stable rating outlook. Moody's also assigned a first time Ba3 rating to the company's: -- first lien credit facilities (US$665 million term loan, due 2014, and US$60 million revolving credit facility, expires 2013); and -- a Caa1 rating to its US$390 million second lien term loan, due 2015. |
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