Kronos® South East Asia Achieves 14 Percent Growth in Bumper First Half
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SYDNEY, 12thMay, 2008 — Kronos® Incorporated, the world's leading workforce management specialist, today announced 14 percent growth in its South East Asian operations (comprising its Australian, New Zealand, and Singapore offices) in the first half of Fiscal 2008. Australia is the headquarters of Kronos South East Asia.
Globally, Kronos extended its impressive track record of revenue growth and profitability, with second quarter Fiscal 2008 revenues growing to $169.5 million. Earnings Before Interest, Tax, and Amortization (EBITA) rose 14 percent to $28.9 million. Kronos' second quarter Fiscal 2008 results mark the company's 113th consecutive quarter of year-over-year revenue growth and 84th consecutive quarter of EBITA profitability.1
In the first half, Kronos South East Asia won major deals in the retail, manufacturing, public, and healthcare sectors. These included Babcock and Brown, an international investment and specialised fund and asset management group; George Weston Foods, one of the world's leading food companies; Goodman Fielder, Australasia's largest food manufacturer; McDermott International, Inc., a leading engineering and construction company, with specialty manufacturing and service capabilities, operating in 23 countries with more than 20,000 employees; Primary Health Care Ltd, Australia's leading facilitator of combined General Practice and Specialist medical, pathology and radiology services; The Austin, the major provider of tertiary health services, health professional education and research in the northeast of Melbourne; and Wesley Mission, Queensland's largest group of care organisations.
Peter Harte, General Manager, Kronos South East Asia, said, "Our strong growth in the retail, manufacturing, public, and healthcare sectors has been on the back of a trend amongst Australian companies for managers to use greater visibility of their work force to improve productivity."
"Efficiently managing labour cost presents any organisation with their best opportunity to reduce operating expenses, and with full visibility of work scheduling so they can ensure that sales, services, and production aren't negatively impacted. Our solutions are proven to save an organisation two-to-three percent in revenue with a 6-12 month payback," Harte added.
According to Gartner, "The enterprise software markets in Asia/Pacific to grow 15.6 percent in 2008, a slight moderation of growth after the aggressive growth of 18.9 percent in 2007. Asia Pacific is expected to reach a compound annual growth rate (CAGR) of 13.9 percent through 2012, the highest of all regions."2
"We are seeing interest in Australia in the healthcare sector. The nursing shortage crises facing many private, public, and aged care providers has led to increased interest in our solutions' ability to plan, roster, track, and analyse hospital work forces while ensuring quality care," Harte concluded.
An excellent example of this is Austin Health in Melbourne. Austin Health is now leading the Victorian Government's HealthSMART program in the areas of HR rostering and payroll, with the Kronos for Healthcare system set to become a major benefit to public hospitals across Victoria.
Notes to Editor
Footnote 1: Revenue excludes purchase accounting adjustments related to the company going private in June 2007 and its acquisition of Unicru and Captor businesses in 2006 and 2007. EBITA excludes purchase accounting adjustments, FAS 123R charges, and non-recurring one-time charges.
Footnote 2: "Market Trends: Enterprise Software, Asia/Pacific, 2007-2012," by Yanna Dharmasthira, Matthew Cheung, Asheesh Raina, Bhavish Sood, Hai Hong Huang, Gartner, April 4, 2008.
About Kronos Incorporated
Kronos Incorporated empowers organisations to effectively manage their workforce. At Kronos, we are experts who are solely focused on delivering software and services that enable organisations to reduce costs, increase productivity, improve employee satisfaction, and ultimately enhance the level of service they provide. Kronos serves customers in more than 60 countries through its network of offices, subsidiaries, and distributors. Widely recognised as a market and thought leader in managing the workforce, Kronos has unrivalled reach with more than 30 million people using a Kronos solution every day. Learn more about Kronos at www.kronos.com.au.
© 2008 Kronos Incorporated. Kronos and the Kronos logo are registered trademarks of Kronos Incorporated or a related company. All other product and company names mentioned are used for identification purposes only and may be trademarks of their respective owners.