Kronos Inc. has reported that after 115 quarters of year-over-year revenue growth, their Q4 earnings were down 3.3 percent from last year’s earnings.
Revenue reported for the quarter ended Dec. 31 was $159.8 million, down from 2008’s $165.2 million. Earnings before interest, taxes and amortization grew to $24.6 million, from $23.3 million a year ago.
The company, which provides workforce management software, was taken private by Hellman and Friedman back in 2007. Last January Kronos laid off about 250 workers, citing economic turmoil as the driving force behind the cutbacks.
“Despite what has become an extremely difficult selling environment, we secured agreements with hundreds of organizations during our first quarter,” said Kronos CEO Aron Ain. “We remain focused on our objectives of expanding globally and continuing our leadership in workforce management and continuing our leadership in workforce management and hiring solutions. Based on these attributes and our determination to be successful, we believe we are positioned to accelerate growth when the economic climate improves.”
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