Kronos announces Q1 2014 results
Kronos has announced its financial results for the first quarter of 2014. Revenue increased 9 percent to $243.4 million. Earnings before interest, tax, depreciation and amortization increased 18 percent to $78.7 million.
“Kronos experienced a tremendous start to Fiscal 2014, with superior execution across our global operation,” Aron Ain, Kronos chief executive officer said. “The significant investments we have been making in key strategic areas – such as bringing unprecedented innovation and ease of use to workforce management applications; extending our Kronos Cloud solutions; continuing to expand our deep vertical market expertise; expanding our SMB offerings; and further bolstering our global product capabilities – are clearly making a difference for our customers every day. Kronos will soon celebrate crossing the exclusive $1 billion revenue mark as we continue our journey of strong growth as the undisputed leader and pace-setter in the global workforce management market.”
Kronos is a big player in the workforce management space and this includes biometric solutions.
According to the company, Kronos workforce management cloud revenue increased 137 percent as new customers signed on. The company continues to invest in its cloud infrastructure and says that there are nearly 10,000 organizations leveraging the company’s cloud service to date.
In addition, Kronos said recent innovations in its workforce management solution drove a 13-percent increase in product bookings during the quarter, with notable strength in areas like workforce analytics, scheduling and absence management.
Reported previously, Kronos recently updated its biometric workforce management system, the Kronos InTouch. These updates included cloud and Wi-Fi compatibility, as well as improvements to data capture software and interface.