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Kronos Incorporated today announced financial results, company advancements, and customer successes for Fiscal 2011 which closed Sept. 30. Kronos® revenues for the fiscal year increased 8 percent to $800 million. Earnings before interest, tax, and amortization (EBITA) increased 14 percent to $217 million.
“The past two years, we’ve been acting as a catalyst and driver for the next generation of workforce management. We are facilitating a radical transformation in the way organizations manage their workforce. Our strategy of growth through innovation is clearly paying off,” said Aron Ain, Kronos chief executive officer.
“Kronos’ 8-percent growth – double the market’s growth of 4.5 percent – is a testament to how our core solutions, together with our next generation products and cloud services offerings, are delivering exceptional value to customers around the globe. Looking ahead, we’ll continue to aggressively invest in extending our leadership in workforce management.”
Fourth Quarter News Facts
In the last quarter of Fiscal 2011, Kronos signed agreements with organizations around the world such as: American Water, the largest investor-owned U.S. water and wastewater utility company; Baptist Health System, a recognized leader in healthcare in San Antonio with five acute-care hospitals; Barnabus Health, New Jersey’s largest integrated healthcare delivery system; Fresenius Medical Care, a company devoted to patient-oriented renal therapy; GEOAmey, a leading provider of prisoner escort and custody services in the UK; Goodman Fielder Limited, Australia’s leading listed food company and owner of a host of iconic brands that generations of Australians and New Zealanders have grown up with; Ingham Enterprises, a leading Australia provider of quality chicken and turkey products for more than 80 years; Joy Global (Tianjin) Mining Machinery, a global leader in underground and surface mining equipment and after market-related services; Merrill Gardens, a Seattle-based owner and operator of senior housing communities; Mississippi State Department of Health, dedicated to the health of all Mississippians; Palm Beach County Fire Rescue, the largest fire/rescue agency in Palm Beach County, Florida; Pathway Senior Living, one of the nation’s premier providers of independent and assisted living communities; Schwan’s Global Supply Chain, Inc., the manufacturing arm of The Schwan Food Company; Time Warner Cable Inc., together with its subsidiaries, operates as a cable operator in the U.S., offering video, high-speed data, and voice services over its broadband cable systems to residential and commercial customers; The Vitamin Shoppe, a New Jersey-based retailer of nutritional supplements with more than 500 locations in 37 states; WilcoHess, owner and operator of more than 380 convenience stores and travel plazas and 50 quick service restaurants in the southeastern U.S.; and Winthrop-University Hospital Association, 591-bed teaching hospital in Mineola, NY.
Fiscal 2011 News Facts
Growth through product innovation – Kronos is innovating faster than ever before by delivering unprecedented functionality and ease of use.
Today at KronosWorks™, Kronos announced:
- Kronos InTouch™ – A revolutionary new time clock which will reshape the way organizations think about, and employees interact with, their workforce management solutions.
- Workforce Central® 6.3 – The latest version of the industry’s leading solution for helping organizations control labor costs, minimize compliance risk, and improve workforce productivity.
During Fiscal 2011, Kronos delivered:
- Workforce Mobile™ Manager and Workforce Mobile™ Employee – Revolutionary new, award-winningworkforce mobile applications, which make it easier for managers and employees to complete a wide range of workforce-related tasks using a variety of mobile devices.
- Workforce Talent Acquisition™ – Version 8.8 and Version 9 of the selection and hiring solution reflect Kronos’ continued commitment to provide customers with a unified hourly and salaried, role-based solution to meet their recruiting needs.
- TeleStaff™ – Version 2.70 of the scheduling and notification solution for public safety organizations, which includes integration with the Kronos Workforce Central suite. (Kronos acquired Principal Decision Systems International and the TeleStaff product in May 2011.)
Rapid expansion of international operations – Kronos continues to aggressively expand its international operations. Fiscal 2011 developments included establishment of a direct sales channel and reseller agreement with Valueteam in Brazil. In China, Kronos announced the opening of additional Greater China offices in Guangzhou and Hong Kong, and established relationships with Accenture, BeyondSoft, NetAGE, and Satyam to provide more complete distribution and implementation support across Greater China. During the year, Kronos also established reseller agreements in the Middle East, Netherlands, Portugal, Spain, and Turkey. These developments underscore Kronos’ commitment to supporting the global workforce management needs of multinational organizations and locally owned businesses. Kronos continues to hire worldwide staff to support existing customers and new customer deployments.
Steadily increasing demand for cloud services – In a year-over-year comparison, new bookings of Kronos’ cloud services offering grew by 92 percent. Today, Kronos has more than 1.75 million licenses at hundreds of organizations managed via cloud services in more than 20 countries. Kronos continues to see exceptional interest in cloud services from organizations looking to maximize their investment in workforce management technology. By leveraging cloud services from Kronos, organizations are achieving significant cost savings, improving the reliability of their workforce management solutions, and accelerating return on investment.
Hiring of global staff – Kronos hired 567 employees in Fiscal 2011, and currently has more than 200 open positions around the world.
For more information on Kronos, please visit www.kronos.com
Matt Lafata, HRchitect