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COPYRIGHT 2007 Business Wire
Reports Record Revenue and Profit; Updates Fiscal Year 2007 Guidance
CUPERTINO, Calif. -- Chordiant Software, Inc. (Nasdaq: CHRD), the leading provider of Customer Experience (Cx(TM)) software and services, today announced its financial results for the third quarter of fiscal 2007 ended June 30, 2007, and filed its Quarterly Report on Form 10-Q with the Securities and Exchange Commission (SEC).
Third Quarter Fiscal 2007 Financial Highlights
* Record bookings of $45.8 million;
* Record revenue of $36.8 million, up 36% year over year;
* Record deferred revenue of $76.6 million, up 160% since the end of fiscal 2006;
* Record backlog of $87.6 million;
* Record fully diluted GAAP EPS of $0.19;
* Positive cash flow from operations in fiscal Q3; and
* Record cash, cash equivalents, restricted cash and marketable securities of $85.4 million.
Business Highlights
* Signed three transactions greater than $1 million with new and existing customers;
* Announced the general availability of the Chordiant Collections module which empowers financial institutions to differentiate themselves and build customer loyalty through their collections efforts by utilizing real-time predictive decisioning enabling agents to resolve delinquencies while optimizing customer service;
* Based on the availability of the Chordiant Collections module, began recognizing revenue from the Citibank transaction; and
* Chordiant and First Data International (FDI) announced a partnership whereby FDI will deliver a cards servicing contact center solution as a service (SaaS) powered by Chordiant technology to FDI's global customers. The SaaS offering utilizes Chordiant's Enterprise Platform, Decision Management Suite and Contact Center Advisor as the basis for this highly scalable, multi-tenant system.
"This was another record quarter for Chordiant and we are extremely pleased with the overall performance of the company," said Steven R. Springsteel, Chairman and Chief Executive Officer. "Market demand for our products remains strong and our customers are continuing to make sizable, long term investments in our solutions. This quarter is another proof point that we have a great team in place as well as the operational processes to continue to grow a profitable business."
Customer Wins
Chordiant entered into three $1 million plus transactions with new and existing customers including a transaction with FDI, a leading provider of electronic commerce and payment solutions, one with Touring SA, Belgium's...
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